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International Monetary Fund

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  • Anonymous

Abstract

On June 7, 1960, it was announced that the government of Guatemala had entered into a one-year stand-by arrangement with the International Monetary Fund authorizing drawings up to $15 million in support of the country's currency. The purpose of the arrangement was to help Guatemala maintain the traditional stability of the quetzal by providing a second line of reserves to supplement other stabilization measures, such as an increase of reserve requirements against bank deposits, limitations on central bank rediscounts, and a further reduction of government expenditures. Guatemala, with a quota of $15 million, had not previously drawn upon the Fund's resources.

Suggested Citation

  • Anonymous, 1960. "International Monetary Fund," International Organization, Cambridge University Press, vol. 14(4), pages 668-669, October.
    • Handle: RePEc:cup:intorg:v:14:y:1960:i:4:p:668-669_24
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