The purpose of this paper is to describe the role and the operating significance of IMF quotas. Each member of the IMF has a quota, the functions of which are threefold. These functions are interrelated, but the attempt to find a series of figures that would effectively perform all these...

This paper reviews developments in the flow of private capital during 1957-1965 within the limitations of the basic data. This paper is divided into five sections. The paper examines the statistics on a broad global basis to gauge the rough magnitude of flows between the industrial and...

This chapter focuses on the special drawing rights (SDR) scheme and the working of the gold exchange standard. This paper discusses the main influences involved in the relationship between SDRs and other reserve assets in a context of future reserve growth and suggests certain general conditions...

This paper outlines the extent of the IMF with its present policies and practices or with some modification of those policies and practices that is capable of dealing satisfactorily with certain problems of international liquidity. Liquidity that is conditional in any of these senses may be...

This paper describes steps taken by the Venezuelan Government to meet the balance of payments crisis which developed from 1958 to 1960. In addition to balance of payments considerations, several factors associated with the development policies of the Government were considered in establishing...

This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the 'inflation tax.' On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of...

This paper explains the features of the Communaute Financiere Africaine (CFA) Franc system. All CFA countries belong to one of three monetary systems. Although their statutes and functions differ somewhat, the three central banks have various common features. All three central banks are...

This paper discusses the causes of the imbalance of international payments. Under the forces of supply and demand, gold came to have a certain value in relation to goods, which enabled it to function smoothly as a medium of reserve and settlement. This value varied somewhat from time to time...

This IMF staff paper provides an analysis of the factors affecting reserve adequacy. Adequacy of reserves depends on the prospective problems that confront a country and, therefore, differs from country to country and from problem to problem. An adequate reserve position permits both the...