ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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IMF WORLD BANK-Control without Obligation

Control without Obligation WHAT is this associate membership of the Fund/Bank and why is it that the Soviet Union has been granted only an associate membership and not a full membership for which it was an applicant? It will be recalled that in spite of the G-7's advice to Mikhail Gorbachev, when he met leaders of the group at the group's summit in London in mid-July, to apply only for associate membership, the Soviet Union nonetheless chose to seek full membership. But the Fund/Bank have decided that the Soviet Union is not yet ready for full membership. Only when its economic reforms succeed in establishing a market economy will the Soviet request for full membership be considered. Until then it will have to be content with associate membership, a sort of association which will entitle the Soviet Union to Fund/Bank technical advice and assistance but not to their funds. Actually, therefore, associate membership gives the Fund a tight hold on Soviet economic decision-making without having to undertake any financial obligation.

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