Front Matter

Front Matter

International Monetary Fund. External Relations Dept.
Published Date:
September 1954
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    Fifth Annual Report on Exchange Restrictions 1954

    Washington, D.C.

    Letter of Transmittal to Members and Governors of the Fund

    June 9, 1954

    Dear Sir:

    I have the honor to transmit to you a copy of the International Monetary Fund’s Fifth Annual Report on Exchange Restrictions which has been prepared in accordance with the provisions of Article XIV, Section 4, of the Articles of Agreement.

    Part I of this Report describes the main developments in exchange restrictions which have taken place in the world since May 1953, and outlines the present position, mentioning the progress which has been made in the past twelve months in lessening such restrictions. As in previous Reports, Part II consists of short descriptions of the exchange systems of those member countries still availing themselves of the provisions of Article XIV of the Fund Agreement.

    On behalf of the Executive Board, I should like to express our appreciation of the cooperation of the members in the preparation of the second part of the Report.

    Sincerely yours,


    Ivar Rooth

    Chairman of the Executive Board and Managing Director

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