In Perspective —
by Roderick F. McDonald
Foreign cars and other imports have suddenly be-come
considerably more expensive in the United States,
and Americans abroad find their dollars less valuable.
These facts, which represent relatively minor misfor-tunes
to most Americans, serve as a reminder that with-out
the self-discipline in monetary matters accepted by
many nations back in 1944, we might have been suffer-ing
disaster rather than misfortune, and in this period
there could have been many such disasters.
Most business people are aware of the existence of
the International Monetary Fund and are to some extent
appreciative of the important role it plays in international
monetary affairs. It may be useful to readers of Tempo
to review the objectives and activities of the IMF and
place it in proper perspective as a key institution exert-ing
powerful effects on the fortunes of all of us who live
in countries belonging to the Fund.
This review will highlight the things the IMF is intended