The Banker then. From: The Banker | Date: July 1, 2000 | COPYRIGHT 2000 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

EXTRACTS FROM JULY 1950

It is right and proper that members of the International Monetary Fund should occasionally be reminded of the vows they took when they ratified the Bretton Woods agreement. In subscribing to the articles of the Fund, all member countries agreed that restrictions on foreign exchange transactions for current purposes are undesirable in principle.

It is true that the articles of agreement, even though drawn up in the optimistic atmosphere that enveloped the Allied Nations in the concluding and victorious stages of the war, were sufficiently realistic ...

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