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International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1977. The report highlights that after a cessation of economic growth in 1974 and an unusual decline in 1975, real gross national product in the industrial countries expanded by almost 5½ percent in 1976. Increases in the range of 5–6½ percent occurred in all of the larger industrial countries except the United Kingdom. The deep and prolonged international recession that started late in 1973 reached its low point in the first half of 1975.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended September 1946. This report covers the operations and policies of the IMF in the period from May 6, 1946, when the Executive Directors held their first meeting in Washington, through early September 1946. Since it is intended that in future years the annual report of the Executive Directors will cover the operations of the IMF in the preceding fiscal year, such figures as are here presented deal mainly with the period ending June 30, 1946.