Affiliation:
1. Université du Québec à Montréal
Abstract
In this paper the author outlines the forces underlying the present international monetary system. Since creation, in Bretton Woods, of the International Monetary Fund, two important amendments have been brought to the statutes of this institution. First, in July 1969, a Special Drawing mechanism was created; second, following the April 1978 amendment, the Special Drawing Right system is no longer based on gold. The fundamental reasons for this evolution and the problems raised by the present situation are emphasized.
Reference9 articles.
1. [1] GOLD, J., "Special Drawing Rights : Renaming the Infant Asset", IMF Staff Papers, vol. 23, juillet 1976, pp. 295-311.
2. [2] BANQUE DES RÈGLEMENTS INTERNATIONAUX, Quarante-sixième Rapport Annuel, juin 1976, p. 121.
3. [3] FMI, Bulletin du FMI, 26 septembre 1977, p. 292.
4. [4] FMI, Bulletin du FMI, 26 septembre 1977, p. 294.
5. [5] Suss, E.C., "A Note on Reserve Use Under Alternative Exchange Rate Regimes", IMF Staff Papers, vol. 23, juillet 1976, pp. 387-394.