The IMF in a changing world, 1945-85 / Margaret Garritsen de Vries.

Includes bibliographical references (page 226).

This book constitutes a short history of the IMF's evolution. The attianment of the initial objectives in the Fund's first twenty years is the story told in seven articles of Part One. The first describes the Bretton Woods Conference; the second lists and explains the initial objectives. How members eventually reduced their multiple rates is related in the thirs, and how they increasingly freed payments from exchange restrictions and made their currencies convertible, in the fourth. The fifth article relates how most members gradually came to adhere to the par value system, and the sixth describes the Fund's policies toward fluctuating exchange rates while the par value system was in operation. The last articles describes the extent to which members devalued their exchange rates from 1948 to 1967. The Chronology at the end lists the main developments from July 1, 1944 to December 31, 1965.

The International Monetary Fund was designed at a conference held in Bretton Woods, New Hampshire, U.S.A., July 1944 when representatives of 45 governments agreed on Articles of Agreement for the new international organization. On December 27, 1945 when 29 countries signed these Articles, the Fund came into existence.

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