International Monetary Fund

Anonymous

International Organization, 1960, vol. 14, issue 1, 210-211

Abstract: On September 16, 1959, the International Monetary Fund announced that 40 members, including most recently Bolivia, Ethiopia, Honduras, Libya, Malaya, and Peru, had consented to increases in their Fund's quotas by amounts ranging from 50 to 100 percent. This was in response to a recommendation by the Directors of the Fund arising out of the thirteenth annual meeting of the Governors of the Fund, held in New Delhi in October 1958. The Fund extended to July 31, 1960, the period within which the rest of its 68-nation membership might accept increases in its quotas. Some of these countries had already communicated consents to the Fund which would become effective upon the completion of certain formalities. The Fund's assets, which, as of January 31, 1959, amounted to the equivalent of $9.2 billion, would be enlarged by the recommended increases by the equivalent of $5.8 billion.

Date: 1960
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