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International Monetary Fund

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  • Anonymous

Abstract

The International Monetary Fund approved a proposal by the government of Chile to make certain fundamental changes in that country's exchange system, effective April 16, 1956. According to a press release the new exchange system replaced a complex structure of multiple rates and import licensing regulations, and established an exchange market in which the rate for commercial imports and exports, government transactions and some invisible transactions would be responsive to supply and demand forces. There would continue to be a second exchange market for other invisible transactions. At the same time the Fund entered into a one year stand-by credit agreement which enabled Chile to purchase up to $35 million in currencies held by the Fund. In addition, other Chilean arrangements provided for credits of $30 million from private banks in the United States and an exchange agreement with the United States Treasury in the amount of $10 million. These resources were intended to assist the Chilean authorities in their administration of an exchange reform, accompanied by a comprehensive program of fiscal and monetary measures directed toward economic stability. The Fund stated that it intended to remain in close touch with the Chilean authorities regarding the new exchange system.

Suggested Citation

  • Anonymous, 1956. "International Monetary Fund," International Organization, Cambridge University Press, vol. 10(3), pages 483-483, August.
    • Handle: RePEc:cup:intorg:v:10:y:1956:i:3:p:483-483_14
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    Cited by:

    1. Kathryn M.E. Dominguez, 1993. "The Role of International Organizations in the Bretton Woods System," NBER Chapters, in: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, pages 357-404, National Bureau of Economic Research, Inc.
    2. Javier G. Gómez-Pineda, 2016. "Inflación de costos: las devaluaciones de los años cincuenta y el brote populista de 1963," Borradores de Economia 924, Banco de la Republica de Colombia.
    3. Maurice Obstfeld, 2009. "International Finance and Growth in Developing Countries: What Have We Learned?," NBER Working Papers 14691, National Bureau of Economic Research, Inc.
    4. Eman Khorsheed, 2020. "The Impact of Women Parliamentarians on Economic Growth: Modelling & Statistical Analysis of Empirical Global Data," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 9(3), pages 1-23, May.
    5. Mr. James M. Boughton, 2006. "American in the Shadows: Harry Dexter White and the Design of the International Monetary Fund," IMF Working Papers 2006/006, International Monetary Fund.
    6. Luis Vildosola, 2004. "Modelo para valorar la atribución de Sustentabilidad," GE, Growth, Math methods 0401001, University Library of Munich, Germany.
    7. Michael Michaely, 1971. "An Over-all View of Policy Patterns," NBER Chapters, in: The Responsiveness of Demand Policies to Balance of Payments: Postwar Patterns, pages 30-70, National Bureau of Economic Research, Inc.
    8. Kristin Forbes & Ida Hjortsoe & Tsvetelina Nenova, 2017. "Current Account Deficits During Heightened Risk: Menacing or Mitigating?," Economic Journal, Royal Economic Society, vol. 0(601), pages 571-623, May.
    9. Alexandre Rands Barros, 2005. "The Impact Of State Owned Banks On Interest Rates Spread," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] 041, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    10. Musoni J. Rutayisire, 2010. "Economic Liberalization, Monetary Policy and Money Demand in Rwanda: 1980–2005," Working Papers 193, African Economic Research Consortium, Research Department.
    11. Ashoka Mody & Diego Saravia, 2009. "From Crisis to IMF-Supported Program: Does Democracy Impede the Speed Required by Financial Markets?," Working Papers Central Bank of Chile 513, Central Bank of Chile.
    12. Mr. Philip R. Gerson, 1998. "The Impact of Fiscal Policy Variables on Output Growth," IMF Working Papers 1998/001, International Monetary Fund.
    13. David James Gill, 2015. "Rating the UK: the British government's sovereign credit ratings, 1976–8," Economic History Review, Economic History Society, vol. 68(3), pages 1016-1037, August.
    14. Elsadig Musa Ahmed, 2008. "Foreign Direct Investment Intensity Effects On Tfp Intensity Of Asean 5 Plus 2," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 33(2), pages 155-166, December.
    15. Fitawek, Wegayehu, 2016. "The Effect Of Export Tax On The Competitiveness Of Ethiopia’S Leather Industry," Research Theses 265673, Collaborative Masters Program in Agricultural and Applied Economics.
    16. Mark Horridge & Elizabeth L. Roos, 2021. "Effect of Gas Subsidies In Indonesia," Centre of Policy Studies/IMPACT Centre Working Papers g-317, Victoria University, Centre of Policy Studies/IMPACT Centre.
    17. Ella Kavanagh, 2018. "Evolving Central Bank thinking: the Irish Central Bank, 1943-69," Working Papers 18022, Economic History Society.
    18. Javier G. Gómez-Pineda, 2016. "La flotación de 1957 y la estabilidad macroeconómica," Borradores de Economia 938, Banco de la Republica de Colombia.
    19. Mr. James M. Boughton, 2004. "The IMF and the force of History: Ten Events and Ten Ideas that Have Shaped the Institution," IMF Working Papers 2004/075, International Monetary Fund.
    20. Christopher Bajada, 2002. "Estimating The Uses Of Currency In Australia," Economic Papers, The Economic Society of Australia, vol. 21(3), pages 14-30, September.
    21. Kwabena Asomanin Anaman & Irene Susana Egyir, 2019. "Economic Shocks and the Growth of the Construction Industry in Ghana Over the 50-Year Period From 1968 to 2017," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(1), pages 1-16, June.
    22. Ukpe, Udeme Henrietta & Djomo, Choumbou Raoul Fani & Filli, Fave Bulus & Osayi,Chinwe Prisca, 2020. "Will Public External Debt And Private Investment Sustain Agricultural Growth In Nigeria? A Monte Carlo Simulation Approach," Noble International Journal of Economics and Financial Research, Noble Academic Publsiher, vol. 5(2), pages 24-31, February.

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