Abstract

Moderate Optimism at the ’83 IMF-Annual Meeting

At the centre of this year’s annual meeting of the International Monetary Fund and the World Bank were discussions on the world economic situation, the international debt situation, the future policy of the IMF under the “enlarged access”, the refinancing of that credit facility and the lending programmes of the World Bank Group. Although solving the urgent refinancing questions was ultimately not possible, mainly because of their protracted treatment in the U.S. Congress and differing American ideas, the other member countries were able to reach wide-ranging agreement on previously diverging positions in all areas. The package ofloans arranged by commercial banks and governments in favour of Brazil is probably one of the annual meeting’s most important events of immediate significance. Together with the economic recovery under way in several industrial countries and the improving external situation of many developing countries, it contributed much to the moderately optimistic conclusion of the annual meeting.