International Bank for Reconstruction and Development

1951 ◽  
Vol 5 (4) ◽  
pp. 784-788
Keyword(s):  
Annual Report ◽  
Economic Conditions ◽  
Fiscal Year ◽  
Underdeveloped Countries ◽  
International Bank ◽  
Board Of Governors ◽  
The World ◽  
Favorable Conditions

The sixth annual report of the International Bank for Reconstruction and Development to the Board of Governors, covering the period July 1, 1950 to June 30, 1951, was transmitted by the President of the Bank (Black) to the Board on September 10, 1951. During the fiscal year reviewed in the report the Bank was faced with new and changing conditions in the world; while this was true of every other year since 1946, “at no time in the Bank's experience, however, have die economic conditions of the world changed so abruptly as in the year just ended.” These changes had two conflicting results: on die one hand, diey provided underdeveloped countries “opportunities for growth” and “created more favorable conditions for die Bank's lending operations”; on die odier hand, diey raised serious new problems.

International Bank for Reconstruction and Development

1964 ◽  
Vol 18 (1) ◽  
pp. 175-187 ◽  
Keyword(s):  
Annual Report ◽  
Fiscal Year ◽  
International Bank ◽  
Board Of Governors

The eighteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1962–June 30, 1963, was presented to the Board of Governors on September 30, 1963. The report noted that the number of loans under preparation in the Bank had increased in the period under review, and although it happened that the total of funds lent declined from the previous year, there was no corresponding decline in the number of loans actually made.

International Monetary Fund

1952 ◽  
Vol 6 (4) ◽  
pp. 644-646
Keyword(s):  
Exchange Rates ◽  
International Monetary Fund ◽  
Annual Report ◽  
Fiscal Year ◽  
Executive Directors ◽  
The Past ◽  
Board Of Governors ◽  
The World ◽  
The International Monetary Fund

The Annual Report of the Executive Directors of the International Monetary Fund for the fiscal year ended April 30, 1952 was presented to the Board of Governors by its chairman (Rooth) on June 24, 1952. The report indicated that, despite a remarkable growth in production and one widespread adjustment of exchange rates over the previous seven years, international payments were still far from having attained a state of balance and exchange difficulties and restrictions existed again over large parts of the world, for countries constituting a large part of the world had followed policies aimed at achieving higher levels of consumption and investment than could be covered out of real resources available. This had resulted in a situation of inflationary pressures that in certain countries had been aggravated by rearmament programs, pressures which created excessive demands for imports and reduced the quantities of goods available for export. In this situation the use of exchange restrictions and quantitative import controls, frequently of a discriminatory nature, seemed inevitable to many countries; and during the past year there had been a tendency to extend and intensify these restrictions and controls.

International Bank for Reconstruction and Development

1955 ◽  
Vol 9 (4) ◽  
pp. 541-544
Keyword(s):  
Annual Report ◽  
International Investment ◽  
Fiscal Year ◽  
Net Income ◽  
International Bank ◽  
Board Of Governors ◽  
Basic Services ◽  
Gross Income ◽  
Public Offering ◽  
Transportation Facilities

Tenth Annual ReportThe tenth annual report of the International Bank for Reconstruction and Development which was transmitted to the Board of Governors on September 12, 1955, covered the activities of the Bank from July 1, 1954 to June 30, 1955. During this period the Bank had made 20 loans in 14 countries and territories, at a total of $410 million, the largest figure for a fiscal year in the Bank's history. The report noted that since the Bank had begun operations, it had made 124 loans amounting to $2,324 million in 37 countries. Two of the year's loans had been linked with a simultaneous public offering of the borrower's bonds to private international investment. The Bank reported that, as in earlier years, the greater part of the loans had been for improvement in basic services; $160 million had been lent for the expansion and improvement of transportation facilities and $110.3 million for power projects. Net income of $24.7 million was added to the supplemental reserve against losses on loans and guarantees, increasing that reserve to $122 million; the Special Reserve had been increased by $13 million, giving it a total of S62 million. The year's gross income, excluding loan commissions, had been $59 million, compared with $50 million for the preceding year. Gross expenses had amounted to $34 million, as compared with $30 million for the preceding year. The Bank attributed the rise in expenses as mainly due to increased payments of interest and other charges on the larger volume of Bank borrowings outstanding.

International Monetary Fund

1958 ◽  
Vol 12 (2) ◽  
pp. 223-224 ◽  
Keyword(s):  
International Monetary Fund ◽  
World Economy ◽  
Balance Of Payments ◽  
Short Term ◽  
Underdeveloped Countries ◽  
International Bank ◽  
Board Of Governors ◽  
The World ◽  
General Aspects ◽  
The International Monetary Fund

The twelfth annual meeting of the Board of Governors of the International Monetary Fund was held jointly with the Board of Governors of the International Bank for Reconstruction and Development in Washington D.C., September 23–26, 1957, under the chairmanship of Miguel Cuaderno, Sr. Per Jacobsson, Managing Director, reviewed the activities of the Fund during the previous year. Emphasizing that the Fund's assistance was of a short-term nature and designed to enable countries to adopt and carry out, within a limited period of time, programs to restore stability to their economies, Mr. Jacobsson stated that the Fund was being used to help countries meet emergency needs, ease strain in the balance of payments, meet temporary exchange difficulties, and fulfill stabilization programs. Mr. Jacobsson went on to discuss various problems encountered in connection with the Fund's activities and cited, inter alia, multiple currency practices, Fund liquidity, and, in connection with general aspects of the world economy, inflation, relative values of currencies, and financing for underdeveloped countries.

International Monetary Fund

1953 ◽  
Vol 7 (1) ◽  
pp. 143-145
Keyword(s):  
Mexico City ◽  
International Monetary Fund ◽  
Western Europe ◽  
Annual Report ◽  
The Public ◽  
Underdeveloped Countries ◽  
International Bank ◽  
Board Of Governors ◽  
World Markets ◽  
The International Monetary Fund

The seventh annual meeting of the Board of Governors of the International Monetary Fund was held jointly with the Board of Governors of the International Bank for Reconstruction and Development in Mexico City, Mexico, September 3 through 12, 1952, under the chairmanship of the Governors for Brazil, Eugenio Gudin and Horacio Lafer. Presenting the seventh annual re-port of the Fund, the Managing Director (Rooth) stated that the payments problem had persisted for so long and was so little understood that the public might lose interest in its solution, but that with positive measures by the deficit and surplus countries, he believed the problem could be solved. After remarking that it could not be solved by “retreating behind a network of restrictions and discriminations”, he expressed concern with the recent spread in western Europe of dollar retention systems and similar arrangements. In the subsequent discussions of the policies and activities of the Fund as reported in the annual report, many Governors emphasized the importance of proper credit and budget policies in solving payments difficulties; some mentioned the need to recognize the responsibility of the surplus countries in restoring payments balance, it being suggested that joint discussions between surplus and deficit nations be held with the Fund; a number referred to the need for a clearer policy on the use of the Fund's resources, emphasizing the payments problems which arose in underdeveloped countries when there was a sudden depression in world markets; and several spoke about the price of gold.

International Bank for Reconstruction and Development

1961 ◽  
Vol 15 (2) ◽  
pp. 290-296 ◽  
Keyword(s):  
Public Debt ◽  
Annual Report ◽  
Developed Countries ◽  
Terms Of Trade ◽  
Fiscal Year ◽  
Economic Relations ◽  
International Bank ◽  
Board Of Governors ◽  
International Economic Relations ◽  
New Institutions

The fifteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1959, to June 30, 1960, was presented to the Board of Governors on September 27, 1960. The report noted that the year under review had clearly marked the beginning of a period of change in international economic relations, especially with regard to the less developed countries where new needs were emerging and new institutions and techniques to meet them were beginning to take definite shape. Although the external accounts of these countries had benefited from a substantial increase in the volume of their exports, their terms of trade had not shown a similar recovery, and their external public debt had increased. The Bank's lending for the year under review was slightly below the rate of each of the previous two years; it had made 31 loans totaling. $658.7 million as compared to 30 loans totaling $703 million in the previous year. Asia and the Middle East, sharing $273 million in loans between them, received the largest portion, while Africa received $183 million, Latin America $134 million, and Europe only $69 million. Lending operations continued to concentrate on basic facilities, with transportation loans amounting to $245 million, electric power loans to $208 million, and industrial loans to $146 million, while agricultural loans rose to $60 million, the highest sum in recent years. Net earnings, exclusive of receipts from loan commissions, came to $59.5 million, an increase of $13 million over the previous year; disbursements fell to $544 million, less than the $583 million of the preceding year.

International Bank for Reconstruction and Development

1962 ◽  
Vol 16 (3) ◽  
pp. 603-619 ◽  
Keyword(s):  
Economic Development ◽  
International Development ◽  
Technical Assistance ◽  
Developed Countries ◽  
Fiscal Year ◽  
Less Developed Countries ◽  
Underdeveloped Countries ◽  
International Bank ◽  
Board Of Governors ◽  
Special Fund

The sixteenth annual repot of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1960, to June 30, 1961, was presented to the Board of Governors on September 19, 1961. The report noted that in the year under review the activities of the International Bank had been part of a broadening stream of financial and technical assistance to the less developed countries. Aid had been provided by: 1) the International Development Association (IDA), an affiliate of the Bank which was designed to aid economic growth by means of credits bearing less heavily on the balance of payments of underdeveloped countries than conventional loans; 2) the Inter-American Development Bank, which attempted to increase the flow of development funds and to coordinate efforts to assist economic development; 3) the UN Special Fund, which had financed pre-investment surveys, in some cases with the International Bank acting as executing agent; and 4) the Development Assistance Group (DAG), which consisted of ten governments that carried on continued consultations—several of these governments had taken steps to facilitate their extension of aid to the less developed countries. The report noted that the Bank had continued to cooperate with the capital markets and with private institutional investors in raising capital for economic development.

International Bank for Reconstruction and Development

1960 ◽  
Vol 14 (2) ◽  
pp. 330-335 ◽  
Keyword(s):  
Agricultural Development ◽  
Annual Report ◽  
Fiscal Year ◽  
Power Development ◽  
Public And Private ◽  
International Bank ◽  
Board Of Governors ◽  
Basic Services ◽  
High Level ◽  
Developed Nations

The fourteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1958, to June 30, 1959, was presented to the Board of Governors on September 28, 1959. The report noted that the year under review had been one of considerable adversity for many of the Bank's member countries, with foreign exchange difficulties having been the rule rather than the exception for the less developed nations. Nevertheless, although export earnings had declined, the inflow of both public and private capital from the developed areas had been well maintained. The Bank's lending for the period under review had continued at the high level reached in the previous fiscal year, as it had made 30 loans totaling $703 million. Half of the year's lending activities had been concentrated in Asia, amounting to $354 million, while the balance had been made up of $136.5 million for Latin America, $110.6 million for Africa, and $102 million for Europe. As in previous years, lending operations had emphasized the strengthening of basic services, with electric power development representing the largest objective and accounting for $294 million of the total. Transportation improvement, mainly in railways, had accounted for $257.2 million; loans for industry, largely steel, paper, and mining, had totaled $149 million; and loans for agricultural development had amounted to $3.5 million.

International Bank for Reconstruction and Development

1959 ◽  
Vol 13 (2) ◽  
pp. 309-316 ◽  
Keyword(s):  
Latin America ◽  
Electric Power ◽  
Distribution Systems ◽  
Annual Report ◽  
Fiscal Year ◽  
The Past ◽  
International Bank ◽  
Board Of Governors ◽  
Transmission And Distribution ◽  
Rail Services

The thirteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1957, to June 30, 1958, was presented to the Board of Governors on October 6, 1958. Noting that the operations of the Bank in the past year were larger and more wide-ranging than in any previous year, the report stated that 34 loans totaling the equivalent of $711 million had been made during the twelve months ended June 30, 1958. This compared with 20 loans totaling $388 million in the previous year. More than half the year's lending was in Asia, amounting to $379 million, while the balance was made up of $121 million for Latin America, $112 million for Africa, and $99 million for Europe. Of the total of $322 million lent for improvements in transportation, two-thirds was for the improvement and expansion of rail services in seven member countries. The $242 million lent in regard to electric power was for the expansion of generation, transmission, and distribution systems in nine countries. Loans made for industry totaled $107 million and were largely concerned with expansion programs in steel and coal.

International Bank for Reconstruction and Development

1958 ◽  
Vol 12 (1) ◽  
pp. 146-149
Keyword(s):  
Electric Power ◽  
Economic Activity ◽  
Annual Report ◽  
Bank Loans ◽  
Fiscal Year ◽  
Net Income ◽  
International Bank ◽  
Board Of Governors ◽  
Gross Income

The twelfth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1956, to June 30, 1957, was presented to the Board of Governors on September 23, 1957. Citing the increased economic activity in most of the Bank's member countries as a factor favorable to the operations of the Bank, the report noted that the twenty loans during the year had amounted to $388 million and had brought the gross total of Bank loans to $3,108 million, made up of 170 loans in 45 member countries and territories. Loans for the development of electric power had constituted $108 million, more than a quarter of the amount lent in the year, while loans made to industry had amounted to $95 million, and those for agriculture and transport each had accounted for about $55 million. Concerning the Bank's financial operations, the report stated that the year's net income, exclusive of receipts from loan commissions, had amounted to $36 million, which had been credited to a Supplemental Reserve against losses on loans and guarantees. Receipts from the commission of 1 percent charged on the outstanding balance of all loans had amounted to $17 million and, credited to a Special Reserve, had increased total reserves to $289 million. Gross income for the year, excluding loan commissions, had amounted to $74 million; expenses had been $38 million, of which nearly $30 million had been the interest paid on the Bank's funded debt. During the year under review total principal repayments to the Bank had amounted to $63 million.

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