Cite JOURNAL ARTICLE
Seoul: Neue Lösungsansätze für die Schuldenkrise
Credit and Capital Markets – Kredit und Kapital, Vol. 18 (1985), Iss. 4 : pp. 586–597
Rüdiger von Rosen, Frankfurt/M.
Seoul: New Approaches to a Solution of the Debt Crisis
The 1985 Annual Meeting of the International Monetary Fund and World Bank was held in the South Korean capital, Seoul, from October 8 to 12 and was attended by delegates from 149 member countries and more than 10,000 participants in all. The main topics at this monetary conference, which was held in a constructive spirit, were the approaches to a solution of the debt crisis that were outlined primarily by US Treasury Secretary Baker, the appeal to the debtor countries to redouble their efforts to implement comprehensive macroeconomic and structural measures, and the effects of the global economic situation, which was rated less favourable than it had been in the spring. In spite of differences of opinion, there was no majority in Seoulin favour of a new allocation of SDRs. In the case of the Policy of Enlarged Access to Fund Resources, a slight lowering of the upper limits was approved, as expected. In the next five years, the poorest countries are to receive around SDR 2.7 billion on concessionary terms from resources flowing back to the Trust Fund.