000			01768nam a2200229 4500
008			711015s1970 dcua erbs 001 0 eng
040			_aDLC _cDLC
050	0	0	_aHG3881 _b.G613
082	0	0	_a332.152 _bGOL
100	1		_aGold, Joseph
245	1	4	_aThe stand-by arrangements of the International Monetary Fund : _ba commentary on their formal, legal, and financial aspects /
260			_aWashington, D.C. : _bInternational Monetary Fund, _cc1970.
300			_axii, 295 p. :ill,
500			_aIncludes index.
504			_aIncludes bibliographical references: p. 213.
520			_aThis book written by Mr Gold, who was a general counsel for the International Monetary Fund and who has been with the organization since its inception, writes that "the stand-by arrangement is the most original instrument of policy the Fund has created." It highlighted the arrangement which appears to be a routine annual line-of-credit under which any banker might arrange to make loans, without further question, to an established customer at any time during the year up to a specified maximum. But the stand-by differs from the line of credit in a very important respect. It is conditional: conditional upon the measures (eg an approved "stabilization programme") to be adopted by the borrowing country to remedy the balance-of-payments disequilibrium which forced it to seek financial support from the Fund. It is the system under which the international organization injects international considerations into such national financial policies as those relating to the control of inflation and into other politically sensitive areas.
590	t		_ausc 30/04/2018
591			_aLoans
650			_aInternational Monetary Fund.
942			_2ddc _cBOOK
949			_a332.152 GOL
999			_c8181 _d8181