• Short Summary

    The finance ministers of the Franc Zone met in Paris yesterday for their annual conference on the state of the Franc.

  • Description

    The finance ministers of the Franc Zone met in Paris yesterday for their annual conference on the state of the Franc. The conference attended by 30 ministers, is also a preparation for the World Bank and International Monetary Fund conference to be held in Copenhagen next week.

    The French Minister of Finance told the conference that funds for cooperation with African states would be increased by 16 percent in the 1971 French budget. Afterwards he said that the conference had agreed to maintain fixed monetary parities within the Franc Zone. He explained that fluctuation in the parities would be unfair to African states who were already affected by fluctuations in the prices of primary products. The Finance Minister of the Ivory Coast put forward a plan for an agency to organise the market in primary products. It will be discussed at another Franc Zone meeting in the Malagasy Republic next year.

    SYNOPSIS: The finance ministers of the Franc Zone met in Paris yesterday for their annual conference on the state of the Franc. The conference is also a preparation for the World Bank and International Monetary Fund conference to be held in Copenhagen next week. Thirty ministers attended the Paris Conference. The French Minister of Finance told them that funds for co-operation with African states would be increased by 16 per cent in the 1971 French budget.

    The Franc Zone ministers agreed to maintain fixed monetary parities within the zone. It was felt that fluctuations in the parities would be unfair to the African states already affected by fluctuations in the prices of primary products. A new plan for an agency to organise the market in primary products was put forward by the finance minister of Ivory Coast. It will be discussed at another Franc Zone meeting in the Malagasy Republic next year.

  • Tags

  • Data

    Film ID:
    VLVA7DF5MYIFC1TTXEFF786G304FM
    Media URN:
    VLVA7DF5MYIFC1TTXEFF786G304FM
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    18/09/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:03:00
    Time in/Out:
    /
    Canister:
    N/A

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