International Monetary Fund

“ This is the most serious financial crisis in half a century. To meet it, the United States and other nations have reduced interest rates and strengthened the International Monetary Fund. And while the turmoil is not over, we have worked very hard with other nations to contain it. ”

“ The International Monetary Fund has a central role leading the international effort to support Ukrainian reform, lessening Ukraine's economic vulnerabilities, and better integrating the country as a market economy in the multilateral system. ”

“ Encourages the Government of the Central African Republic to more meaningfully engage the Bretton Woods institutions, especially the International Monetary Fund, as their assistance is critical for the revitalization of the economy and for the development of the country ”

“ And we have an obligation to our common prosperity and our common humanity to extend a hand to those emerging markets and impoverished people who are suffering the most, even though they may have had very little to do with financial crises, which is why we set aside over a trillion dollars for the International Monetary Fund earlier this week, to make sure that everybody receives some assistance. ”

“ Military spending by recipient countries; military involvement in economies of recipient countries § 262o-2. Advocacy of policies to enhance general effectiveness of International Monetary Fund § 262o-3. ”

“ Foreign investment plays an essential role in your growth, while your holdings of foreign currencies – and your management of your own currency – are coming to play a vital part in the international monetary system. ”

“ The independent Central Monetary Authority assures us of a new regime of price stability. Opening of the financial system to foreign banks should bring more foreign investment and expertise. We have substantially recovered from the balance-of-payments crisis in the mid-eighties. ”

“ It would not be surprising if, as is being suggested, this war should give Great Britain a decimal system of money, revise the monetary units of the nations so that they shall be even multiples of the franc, give us an international money and stable pars of exchange and, as the greatest reform of all, as well as the simplest, give us a monetary system in which the units are actually units of value in exchange, as they ought, and were intended, to be. ”

“ Last week, at the monetary conference in Stockholm, the major industrial countries decided to take a big step toward creating a new international monetary asset that will strengthen the international monetary system. ”

“ First of all, cross-border payment involves various complicated issues such as monetary sovereignty, foreign exchange policies and arrangements, as well as regulatory and compliance requirements. It is also a challenge that the international community is committed to address. The internationalization of a currency is a natural result of market selection. The international status of a country's currency depends on its economic fundamentals and the depth, efficiency and openness of its financial markets. ”

“ The M2 money supply and aggregate financing are forecasted to grow by around 12 percent in 2017. We will apply a full range of monetary policy instruments, maintain basic stability in liquidity, see that market interest rates remain at an appropriate level, and improve the transmission mechanism of monetary policy. We will encourage a greater flow of financial resources into the real economy, particularly in support of agriculture, rural areas, and farmers, and small and micro businesses. ”

“ The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. ”

“ In order to secure the euro's place in the international monetary system, the Council, on a proposal from the Commission, shall adopt a decision establishing common positions on matters of particular interest for economic and monetary union within the competent international financial institutions and conferences. ”

“ We have successfully curbed inflation, which is the many-headed hydra of our modern economic world, from an alarming figure of 40 percent in 1972, to 7.2 at present. Our international reserves have risen to a phenomenal 1.5 billion U.S. dollars from the moribund position in 1972. 15. There is a boom in investments, from domestic as well as foreign sources, reflecting confidence in our economy—in the way it is being managed and in the long-term possibilities it holds for the investor. ”

“ It tries to juggle all these goals in the thinning air of the global capital markets. There is little dispute that the IMF is indispensable. Without it, the world monetary system would have contracted more readily and many countries would be worse off. It imposes monetary and fiscal discipline, forces governments to plan, and introduces painful adjustments and reforms. ”

“ Nations, including our own, contribute to IMF, and countries with temporary balance-of-payment problems borrow from it on a short-term basis. In order to get a loan, they have to agree to terms the Fund managers lay down with regard to correcting the practices and policies that contribute to their financial difficulties. ”

“ The biggest borrowers of money, in most countries, are the Governments, and so international finance is largely concerned with lending by the citizens of one country to the Governments of others, for the purpose of developing their wealth, building railways and harbours or otherwise increasing their power to produce.
Money thus saved and lent is capital. So finance is the machinery that handles capital, collects it from those who save it and lends it to those who want to use it and will pay a price for the loan of it. This price is called the rate of interest, or profit. ”

“ In the meantime, our exports are zooming up at double-digit rates, our balance of current accounts are in surplus, and our gross international reserves are at all-time highs, currently amounting to $14 billion. ”

“ In countries where the Money Market is neither so highly developed nor, in relation to foreign countries, so self-supporting, the Central Bank, if it is to be secure, must take the matter in hand itself and, by itself entering the international money market as a lender at short notice, place itself in funds, at foreign centres, which can be rapidly withdrawn when they are required. ”

“ With the operation of the Central Bank, we expect to maintain our domestic monetary stability, the inter­national value of the peso, the free convertibility of ­the peso into United States dollars and other freely con­vertible currencies, and the promotion of a rising level of production, employment and real income. ”

“ International monetary co-operation in IMF lingo means exchange (rate) stability. But with such stability the expansion and balanced growth of international trade is not achievable. Trade is based on dynamic exchange rate disparities. Moreover, there is nothing inherently wrong in such dynamism. The changing disparities reflect the relative advantages of the countries involved. In a world of fixed exchange rates – trade stagnates. And what is "balanced" growth anyhow? Trade has been growing at 3-5% annually for a few years now. ”

“ We are still faced with the problem of avoiding, in the months ahead, any marked increase in prices and in the cost of living arising from Government spending for development, as well as from inflationary trends abroad and the consequent heavy pressure on our international reserves.
To meet this problem, we will continue to adjust our foreign exchange allocations to the demand for essential consumer goods without impairing the requirements of high priority project. ”

“ International oil and cocoa prices have a significant impact on the economy. Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation's banks. The IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. ”

“ We recognize that interest rates are potent factors in production and business activity, and for the purpose of further equalizing and of further lowering the rates of interest, we favor such monetary legislation as will enable the varying needs of the seasons and of all sections to be promptly met in order that trade may be evenly sustained, labor steadily employed, and commerce enlarged. The volume of money in circulation was never so great per capita as it is to-day. ”

“ No country can be subjected to such stress as to consent to part with its entire monetary circulation, or even the half of it. On the contrary, every influence which tends to contract the circulation tends to create a condition which makes further contraction more difficult. Rates for the loan of money are affected, prices of imported goods are influenced, imports fall off and exports increase, and inevitably in the modern money market local equilibrium is restored, often with considerable strain, but none the less without pulling down the pillars of the financial temple. ”

“ The nations employing the plan would no longer have their monetary standards at the mercy of foreign politics or wars. International trade would not be greatly affected whether one or many nations adopted the plan. ”

“ There is, moreover, added cost for national pride in our new standing in the world arising out of our economic management and our conduct of international relations. Our dollar reserves increased from $25 million in 1972 to $1.2 billion in 1976. ”