ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

BIHAR- Syndrome of Underdevelopment

September 16, 1972 entirely with reserve currencies. It is only when the international monetary system does away with the national reserve currencies that the option of prompt exchange rate adjustment will be available to all countries and the store of value function of the reserve assets will not fall victim to the fortunes of particular national currencies. The insistence by France that gold, and not the SDRs, should be such a reserve asset is unlikely to be acceptable to a majority of the IMF members. On this point the French are fighting a losing battle.

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

826for India

$50for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top