This paper examines some dimensions of the problem of income inequality. The conventional approach to income inequality is to define the problem in purely relative terms. A familiar technique for this purpose is to measure inequality by the extent to which the income share of groups of...

This paper presents main highlights of the IMF Meetings in 1974. Four dominant themes for the annual discussion were clearly stated by Mr. John N. Turner, Governor of the IMF and Bank for Canada. These were inflation, reduced economic growth rates, payments disequilibria, and the crisis...

This paper reviews the procurement process under World Bank projects. The paper highlights that the World Bank’s interest in procurement under its loans stems directly from the “project” requirement of its Articles, which stipulates that it should lend for specific projects, except in...

This paper describes the need for a new framework for international resource transfers. The paper highlights that the only international deal that presently exists on resource transfers is enshrined in the acceptance by the rich nations of a target of 1 percent of gross national product, with...

This paper reviews the 1975 Annual Meetings of the Boards of Governors of the IMF and the World Bank that were held in Washington, D.C., from September 1–5. The paper highlights that three separate but related themes dominated the discussion at the Annual Meetings. The first was the need to...

This paper highlights that there has been remarkable agricultural growth over the past three decades. Growth has been twice as rapid as in any previous period. Output has been fueled largely by developing countries’ increased capacity to produce more food and by continued growth in the...

The analysis and adjustment of government expenditure in less developed countries is discussed. A better balance between supply and demand in the public sector can be achieved by raising budgetary revenues, or by cutting budgetary expenditures, or by some combination of both. The IMF devotes...

This paper highlights that international flows of capital can promote global economic efficiency and can allow countries with balance-of-payments deficits to strike the right balance between reducing their deficits and financing them. The IMF's evolution into an effective international...

This paper examines adjustment, growth, and the IMF’s role. Under the Baker plan, the IMF would continue to play a central role in dealing with the economic imbalances and the debt problems that countries face, a role that would continue to include the analysis and policy advice that the IMF...

The global trade negotiations and use of fiscal measures to stimulate savings in developing countries are discussed. The four main elements of the global trading system likely to be at issue in the new round include nondiscrimination and the distinction between border and nonborder measures....