Arab Today, arab today world bank found transcripts reveal birth of imf
Last Updated : GMT 14:44:30
Arab Today, arab today
Arab Today, arab today

World Bank: Found transcripts reveal birth of IMF

Arab Today, arab today

Arab Today, arab today World Bank: Found transcripts reveal birth of IMF

Washington - AFP

Lost for decades before their chance discovery by a US official, the raw transcripts of the Bretton Woods conference reveal the difficult birth of the International Monetary Fund and World Bank in 1944. \"I was looking in the Treasury library for some other material which was nearby and I noticed that there\'s a section labeled uncatalogued material... and so I was curious to see what was in it,\" Kurt Schuler, a US Treasury economist, told AFP. The economic history buff picked up black volumes labeled \"The United Nations Monetary Financial Conference,\" the official name of the conference held in Bretton Woods, New Hampshire, and dated July 1 to July 22, 1944. Combing through hundreds of dusty pages, Schuler discovered exchanges, some tense, among the delegates of 44 nations who laid the foundation amid World War II of an international financial system proposed by Britain and renowned British economist John Maynard Keynes. Schuler said he found remarks by Keynes in the transcripts that had never been published. \"That was when I knew that it was possibly important,\" he said. Two years after the discovery, \"The Bretton Woods Transcripts,\" edited by Schuler and Andrew Rosenberg, has brought \"this treasure trove\" to the public, said Jacques de Larosiere, a former IMF managing director (1978-1987) and Steve Hanke, an economics professor at Johns Hopkins University, in the book\'s preface. \"Even though there have been thousands and thousands of pages written about the Bretton Woods conference, nothing beats the transcripts for a first-hand feel of what transpired,\" they wrote. The key insight given up by the unearthed transcripts: the debates of nearly 70 years ago look very much like those heard inside the IMF today. \"In spite of the very eloquent and moving speech of the United States delegate... the quota proposed for my country is entirely unsatisfactory and unacceptable,\" said an Iranian official. The Chinese delegate also opposed the US proposal on quotas, which determine voting power, while saying, \"I hesitate greatly to sound a note of discord at this conference.\" The major economic powers were hardly united on the grand shape of the future Fund. \"It is, therefore, with great disappointment that we have noted that the quota which was just established does not meet our expectations,\" said Pierre Mendes France, representing the Provisional Government of the French Republic. For him, the system did not recognize the position of influence that France as well as some other countries \"will probably occupy again in the postwar world.\" The book is of great historical value because it shows how the United Nations, then in prototype, managed the creation of international consensus, said Eric Rauchway, a history professor at the University of California, Davis. \"We tend to think of Bretton Woods as a US-UK stitch-up, but this isn\'t quite right -- the USSR had a larger role in setting the parameters of the arrangements than we\'d previously thought, and this comes out in the debates,\" Rauchway told AFP in an email. \"So too do the concerns of the emerging countries,\" he said, noting that they wanted to get regional representation on the governing bodies of the IMF and World Bank. \"We believe that the Middle East countries as one economic unit should be represented by one seat. I need not urge you for the small countries to be well represented,\" said Egypt\'s representative. His plea was rejected. Beyond revealing the differences that existed between delegates behind closed doors, the transcripts shed light on the embryonic stage of the international community just one year before the creation of the United Nations. \"It marked an approach of economic cooperation that was much different from the pre-war approach,\" said Schuler.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank found transcripts reveal birth of imf Arab Today, arab today world bank found transcripts reveal birth of imf

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank found transcripts reveal birth of imf Arab Today, arab today world bank found transcripts reveal birth of imf

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Writing's on the wall for Trump, Zuckerberg

GMT 09:05 2017 Thursday ,19 October

Writing's on the wall for Trump, Zuckerberg
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday