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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

Two stand-by arrangements were announced by the International Monetary Fund on September 23, 1960, one with the government of El Salvador, authorizing drawings up to the equivalent of $11.25 million for a period of six months in order to strengthen El Salvador's international reserve position prior to the marketing season for the country's cotton and coffee crops, and the other to Haiti, making available the equivalent of $6 million for a one-year period, in support of Haitian currency convertibility. El Salvador had made similar arrangements with the Fund in previous years and had repurchased in full any drawings made under these arrangements. The arrangement with Haiti was to become effective on October 1, 1960, at the expiration of Haiti's current $4-million agreement with the Fund established a year previously in connection with a stabilization program.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 15 , Issue 1 , Winter 1961 , pp. 194 - 195
Copyright
Copyright © The IO Foundation 1961

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References

1 International Monetary Fund, Press Releases Nos. 324 and 525, respectively, September 23, 1960; see also International Financial Neuij Survey (hereafter cited as IFNS), 10 7, 1960 (Vol. 12, No. 65), p. 522Google Scholar. For a summary of previous activities of the Fund see International Organization, Autumn 1960 (Vol. 14, No. 4), p. 668–669CrossRefGoogle Scholar.

2 International Monetary Fund, Press Releases Nos. 327, 328, and 329, respectively, October 10, 1960; see also IFNS, 10 14, 1960 (Vol. 12, No. 66), p. 529–530Google Scholar.

3 International Monetary Fund, Press Releases Nos. 332 and 333, respectively, November 7, 1960; see also IFNS, 11 11, 1960 (Vol. 12, No. 70), p. 562Google Scholar.

4 International Monetary Fund, Press Releases Nos. 330 and 331, respectively, November 3, 1960; see also IFNS, 11 11, 1960 (Vol. 12, No. 70), p. 561Google Scholar.

5 IFNS, 09 2, 1960 (Vol. 12, No. 60), p. 484Google Scholar.

6 Ibid., October 7, 1960 (Vol. 12, No. 65), p. 528.

7 Ibid., November 4, 1960 (Vol. 12, No. 69), p. 560.

8 International Monetary Fund, Press Release No. 326, October 10, 1960; see also IFNS, 10 14, 1960 (Vol. 12, No. 66), p. 529Google Scholar.