1. Supervises rates-not after adj. peg collapsed in 70)
2. conditional support for BoP and developing. Too low rate, buffers from reforms
3. policy assistance(yearly review of 150 members)
Convertibility of all currencies and stability in international monetary markets.
Pool, votes according to payment
unit of IMF account, store of value, means of exchange between countries
1. Standby arrangements (usual), country will gain automatic stability, as others trust.
2. General agreement to borrow(UK76)
17 nation's pool to help themselves and developing countries-17b SDR.
3. Compensatory finance scheme(1/3-temporary difficulties, few conditions).
4. Buffer stock
5. The extended fund-LR assistance
6. The supplementary financing-LR to undeveloped.
Future-emergency financing, banking development(Barings), makes too dependant of G7
loans for development programs (links to IMF)
1. Quotas-10% is paid 90% promised
2. Bonds-around the world
Reduce gap between rich north and poor south.
1. equal rights.
2. reduce Tariffs and Quotas
3. Trading blocks-EC was allowed, but encouraged to be outside looking.