International monetary reform

XXI. RESOLUTIONS ADOPTED ON THE REPORTS OF THE SECOND COMMITTEE
2208. International monetary reform

The General Assembly, Taking note of the report entitled International Monetary Issues and the Developing Countries,[1] prepared by the Expert Group on International Monetary Issues of the United Nations Conference on Trade and Development, and of the comments made thereon by the members of the Conference, including the memorandum, on international liquidity[2] presented by the developing countries to the Committee on Invisibles and Financing related to Trade at its special session in January and February 1966, Bearing in mind the annual report of the International Monetary Fund for 1966,[3] Recognizing the need for a reform of the international monetary system that would make it more responsive to the requirements of the economic growth of both developed and developing countries, Noting the initiatives taken in promoting the informal meetings now being held between the executive directors of the International Monetary Fund and the deputies of the Governments participating in the General Arrangements to Borrow,

1. Endorses the need for those developed and developing countries which so desire to be fully represented in the discussions and decisions leading to any new international monetary reform arrangements, including those relating to the problems of international liquidity, and to participate fully in the operation of such arrangements as may be made;

2. Requests the Secretary-General of the United Nations Conference on Trade and Development to consult with the Managing Director of the International Monetary Fund on the progress of activity relating to international monetary reform and to report to the Trade and Development Board at its fifth session through the Committee on Invisibles and Financing related to Trade.

1497th plenary meeting,
17 December 1966.


[1] United Nations publication, Sales No.: 66.II.D.2. [2] See Official Records of the Trade and Development Board, Third Session, Supplement No. 14 (TD/B/57), annex I. [3] International Monetary Fund, Annual Report of the Executive Directors for the Fiscal Year ended April 30, 1966 (Washington, D.C.). Transmitted by a note of the Secretary-General (E/4282).
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