• Short Summary

    FINANCE MINISTERS FROM THE 15 COUNTRIES OF THE FRANC CURRENCY AREA MET FOR THE FIRST TIME THIS YEAR IN ABIDJAN YESTERDAY (MONDAY).

  • Description

    FINANCE MINISTERS FROM THE 15 COUNTRIES OF THE FRANC CURRENCY AREA MET FOR THE FIRST TIME THIS YEAR IN ABIDJAN YESTERDAY (MONDAY). THEIR TOP PRIORITY WAS TO DISCUSS THE CONSEQUENCES OF THE FRENCH DEVALUATION OF THE FRANC LAST YEAR.

    A STRONG FRENCH DELEGATION TO THE CONFERENCE WAD HEADED BY MINISTER OF ECONOMY AND FINANCE VALERY GISCARD D'ESTAING AND INCLUDED SECRETARY OF STATE FOR FOREIGN AFFAIRS YVON BOURGES TOGETHER WITH THE GOVERNOR OF THE BANK OF FRANCE.

    ON HIS ARRIVAL, M. GISCARD D'ESTAING DECLARED THAT THE FRANC HAD RECOVERED WELL SINCE LAST AUGUST'S DEVALUATION. AND A COMMUNIQUE ISSUED AFTER THE ONE DAY CONFERENCE AFFIRMED THAT THE RETURN TO INTERNAL AND EXTERNAL EQUILIBRIUM WITHIN THE FRANC ZONE HAD NOT BEEN COMPROMISED BY ECONOMIC EXPANSION AND RISING STANDARDS OF LIVING IN THE AREA.

    THE CONFERENCE ALSO DISCUSSED THE PROGRESS OF BALANCE OF PAYMENTS IN THE ZONE, TEM QUESTION OF RELATIONS WITH THE INTERNATIONAL MONETARY FUND AND THE STABILIZATION OF THE PRICE OF RAW MATERIALS.

    DURING HIS VISIT TO THE IVORY COAST, M. GISCARD D'ESTAING EXPRESSED HIS CONFIDENCE THAT THE IDEA OF A EUROPEAN CURRENCY WOULD BE REALISED. HE ADDED THAT HE BELIEVED ALL FRANC ZONE MEMBERS WOULD TAKE PART IN ANY COMMON MONETARY ORGANISATION SET UP BY THE EUROPEAN COMMON MARKET - THUS BENEFITTING FROM A MONETARY ZONE WITH THE BIGGEST POTENTIAL RESERVES IN THE WORLD.

  • Tags

  • Data

    Film ID:
    VLVA3GSM6EUIIED5NRQL58166VTOA
    Media URN:
    VLVA3GSM6EUIIED5NRQL58166VTOA
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    24/03/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:39:00
    Time in/Out:
    /
    Canister:
    N/A

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