IMPLICATIONS OF BRETTON WOODS
Bretton Woods stands for a seheme of nionettiry co-operation ttinong the ntitions. The objeet is to prevent comjietitive eurreiM-y ilepre-i:ttion and other pre-war forms of eeononiic warfare. It also ainis to raise iiving standards th rough eneonraging higli levels of interntit ional trade and employnienl, writes the lintineial editor oi the Sydney .Morning Uertild. Tw'n inslilutions ereated for these jiurposes are now funetioning. The luternat ionai Monetarv Fund is priinarily designed to lend foreign exchange to niemhers in teniporarv trade dittieulties, so that tliey lteed not resort to reslrictive nieasures. Beyond certain liniits nieniliers niust seek tlu fund's approval for lnoveinents in e.\ chtinge rates, although sucli approval nuist .be given to eorrect ti fnndamentai disequilibrium. The Interniil ional Bank for Rccon slruclion and Devdopnient is designed to guarantee lo;tiis first to war-devas fnted eounlries and tlien to backward ttreas like the Kar. East. The loans would come from puldie subscription, inainly by Amerieaiis. I
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19461205.2.20
Bibliographic details
Chronicle (Levin), 5 December 1946, Page 5
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159IMPLICATIONS OF BRETTON WOODS Chronicle (Levin), 5 December 1946, Page 5
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