1. Toward Paper Gold.
- Subjects
SPECIAL drawing rights ,INTERNATIONAL finance ,INTERNATIONAL economic relations ,RESERVE assets - Abstract
The article reports on the accord among nine of the top ten non-Communist countries to form a new international money to supplement dollars, pounds and real gold in Stockholm, Sweden. Great Britain, U.S., Canada, Sweden, Japan, France, West Germany, Italy, Belgium and the Netherlands agreed to restore confidence in monetary arrangements due to the gold crisis. Moreover, it will be known as Special Drawing Rights (SDR) that will be administered by the International Monetary Fund (IMF).
- Published
- 1968