• Short Summary

    Finance Ministers from the 126 member states of the International Monetary Fund, whose five-day meeting in Nairobi ended on Friday (28 September) have failed to make any significant progress in the crucial issue of world monetary reform.

  • Description

    Finance Ministers from the 126 member states of the International Monetary Fund, whose five-day meeting in Nairobi ended on Friday (28 September) have failed to make any significant progress in the crucial issue of world monetary reform.

    A number of issues have, however, been resolved and the conference set a new deadline in ten months time for the production of a \blueprint for a new world monetary system.

    One basic problem is the extent to which the international financial community should be able to control policies of individual countries in the interests of world wide monetary stability.

    Despite many calls for international co-operation a member of nations have bulked at the various measures needed to ensure monetary stability. The Arab nations, for instance, have rejected the idea that a country's monetary reserves should be used as an indicator of when a country has to take action to reduce excessive balance of payments surpluses or deficits.

    Speaking on Thursday, the West German Finance Minister Helmut Schmidt was among these who stressed the need for international co-operation. The text of an excerpt of his speech (in English) included on this film is given below:
    SYNOPSIS: Delegates arrive at the Kenyatta Conference Centre in Nairobi for the fourth day of the meeting of the International Monetary Fund. The 126 member states of the Fund have been meeting in Kenya in an attempt to work out a new international monetary system. They have made some progress but have now set a new deadline in ten months time to draw up a blueprint of a proposed reformed system.

    The leader of the West German delegation Finance Minister Helmut Schmidt, called for international co-operation to fight inflation, a fight he said no country could carry out alone.

  • Tags

  • Data

    Film ID:
    VLVAF8N7LWIIUPSLARWWSOQJ9NMH
    Media URN:
    VLVAF8N7LWIIUPSLARWWSOQJ9NMH
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    28/09/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:02:30:00
    Time in/Out:
    /
    Canister:
    N/A

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