Books

Written by Margaret Garritsen de Vries, Volume I describes the events following the Smithsonian agreement of December 1971 that led to the collapse of the par value system in early 1973. It explains how the IMF initiated new activities increased its lending, and found ways to support this lending. Volume II describes the negotiations leading to the second Amendment to the IMF's Articles, preliminary experiences with floating rates, and developments with respect to the SDR. Volume III is a compilation of studies prepared by the staff for the Executive Board's discussions, as well as many of the most important documents published by the IMF in 1972 -78.