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International Monetary Fund

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  • Anonymous

Abstract

A mission sent by the International Monetary Fund to India, at the request of that government, to study monetary and financial problems arising from the Indian government's five-year development plan, said that $400 million would be needed to complete the program, according to a report released on February 7, 1954. The report indicated that this financing might be sought internally as well as through foreign assistance. The mission regarded the program, which was estimated to call for a total investment of $7 billion, as “essential to the well-being of the people of India and … important to the survival of democracy in Asia†. While grants-in-aid would have a better economic effect than borrowing to obtain the necessary foreign aid, the report noted, the Indian economy was sound and should be able to borrow abroad if need be. Among the special problems covered in the report was the unpredictability of an adequate food supply; the mission recommended that India conclude special arrangements with the United States, Canada and Australia for a supply of wheat to meet “any extraordinary future needs†. In presenting the report to the Indian Parliament, the Indian government welcomed the Fund's study but made it clear that it was not committed to its recommendations.

Suggested Citation

  • Anonymous, 1954. "International Monetary Fund," International Organization, Cambridge University Press, vol. 8(2), pages 266-267, May.
    • Handle: RePEc:cup:intorg:v:8:y:1954:i:2:p:266-267_13
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    Cited by:

    1. Jabbar, Mohammad A., 1993. "Evolving Crop-Livestock Farming Systems in the Humid Zone of West Africa: Potential and Research Needs," Research Reports 183015, International Livestock Research Institute.
    2. Wilson, John F & Takacs, Wendy E, 1979. "Differential Responses to Price and Exchange Rate Influences in the Foreign Trade of Selected Industrial Countries," The Review of Economics and Statistics, MIT Press, vol. 61(2), pages 267-279, May.
    3. 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.
    4. Jan Behringer & Christian A. Belabed & Thomas Theobald & Till van Treeck, 2013. "Einkommensverteilung, Finanzialisierung und makroökonomische Ungleichgewichte," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 82(4), pages 203-221.
    5. repec:prg:jnlpep:v:preprint:id:635:p:1-20 is not listed on IDEAS
    6. Libbin, Susan A., 1964. "Contribution of Public Law 480 to Development of the Greek Economy: A Preliminary Report," Miscellaneous Publications 316632, United States Department of Agriculture, Economic Research Service.
    7. James A. Giesecke & Nhi H. Tran & Robert Waschik, 2021. "Should Australia be concerned by Beijing’s trade threats: modelling the economic costs of a restriction on imports of Australian coal," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 65(1), pages 1-22, January.

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