Annual Report On Exchange Arrangements And Exchange Restrictions 1965 PDF Download

This paper outlines the changes that took place in restrictive systems were largely a reflection of shifts in the balance of payments positions and outlook of member countries. The country surveys show that these changes were numerous. Several countries, including the United Kingdom and the United States, took steps to moderate capital outflows. The range of restrictive devices applied by some countries appears to have widened in recent years. The use of advance import deposit requirements has spread, and more countries are applying surcharges to imports when in balance of payments difficulties. In contrast, a number of member countries whose restrictive systems have been progressively liberalized in recent years have relied on internal measures to meet temporary balance of payments difficulties rather than resort to restrictions. By making use of the IMF’s resources several member countries have been able to maintain or extend their liberalization policies.

Annual Report on Exchange Arrangements and Exchange Restrictions 1964

This paper discusses developments in individual countries reflected domestic policies, but also the way in which their economies were affected by international economic developments. Generally, countries that have assumed the obligations of Article VIII of the IMF Agreement—and which as noted in the last Report account for some 70 per cent of world trade—were making less use of restrictions, and some were able further to reduce that use in 1965–1966. At the outset of 1965 there were a number of disturbing tendencies in the international payments situation. The growth of international trade was noticeably slackening, and the prices of primary products were declining. Among the industrial countries export increases in 1965 were generally largest for those whose payments positions were already strong and whose restrictions on payments had been largely eliminated. Thus, the member countries of the European Economic Community (EEC) had a very satisfactory expansion of exports; this was partly associated with economic developments in France and Italy, where some easing of domestic demand released resources for export.

Annual Report on Exchange Arrangements and Exchange Restrictions 1950

Annual Report on Exchange Arrangements and Exchange Restrictions 1953

Annual Report on Exchange Arrangements and Exchange Restrictions 1957

Annual Report on Exchange Arrangements and Exchange Restrictions 1962