This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 1948. The report highlights that during 1947 and in the early part of 1948, considerable progress was made in strengthening the economies that suffered devastation and dislocation as a result of the war. Over the world, generally production rose and recovery continued, despite widespread political tension and conflict, and disturbances. In nearly all countries, however, the need and demand for goods continued to be abnormally great, and there were increasing difficulties in meeting international payments for import surpluses.
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.