The Bretton Woods System and the International Monetary Fund
The IMF is the institution which symbolises, interprets and has given continuity to the Bretton Woods system. This chapter will describe its nature, growth and functions and, very briefly, comment on its usefulness. No more is necessary here. The literature on the Fund is now large and grows continually.1 To this specialist literature the reader must go for the minutiae. Here we concern ourselves, hopefully, with principles.
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- 8.The best accounts of the SDR scheme at the time of writing (1972) are: Fritz Machlup, Remaking the International Monetary System-The Rio Agreement and Beyond (Baltimore: Johns Hopkins Press, 1968); and ‘The SDR: Some Problems and Possibilities’, IMF Staff Papers (March 1971).Google Scholar