INTRODUCTION: At the end of next week (May 21 and 22), economics and finance ministers of 22 countries will be meeting in Libreville, the capital of Gabon.
GV Delegates arriving at European headquarters of I.M.F. (5 SHOTS)
SV ZOOM IN TO CU Board announcing meeting.
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Background: INTRODUCTION: At the end of next week (May 21 and 22), economics and finance ministers of 22 countries will be meeting in Libreville, the capital of Gabon. They are members of the interim and development committees of the International Monetary Fund, and one of their main task will be to work out policies for I.M.F. assistance to developing countries.
SYNOPSIS: Officials of the Fund met in Paris on Thursday (14 May) to prepare for the meeting, which promises to be a difficult one. It comes at a time when the industrial countries are pursuing tight monetary policies to reduce inflation, and when interest rates are high. Developing countries benefit from low interest rates and from inflation, which reduces the real value of their debts. Technical problems are arising about the recycling of petro-dollars - the money surpluses of the oil-exporting countries - and the Reagan administration in the United States has cut its foreign aid budget. The Libreville conference will face problems in reconciling some incompatible demands as it tries to settle the strategy of the International Monetary Fund for the immediate future.