Abstract

Annual Meeting of IMF and the World Bank 1986

The 1986 joint Annual Meeting of the International Monetary Fund (IMF) and the World Bank was held in Washington from September 30 to October 3, 1986. The main topics at this conference, which was held in a generally constructive spirit, were the world economic situation, the policies necessary to safeguard a satisfactory economic growth and to reduce existing imbalances, the international debt situation as well as the proposals to improve the functioning of the international monetary system. In this context, the benefits but also the limitations of the use of economic indicators in achieving a better coordination of economic policies of important countries – was discussed. There was agreement, that indicators can be a helpful tool, which should be further developed. At the same time, however, the limitations of this instrument were emphasized and it was stressed that indicators must not be used as mechanic triggers for economic policy actions. » Thepresent debt strategy, which has been strenghtened since autumn 1985 in the context of the Baker Initiative, was generally endorsed. The Executive Board of the Fund was asked to continue its studies on the role of the Special Drawing Right in the international monetary system. A new allocation of SDR’s, which was favored by a number of countries, did not find the required broad support.