“No Change Seen In IMF Policies On Debt Crisis” Art Pine. WSJ 9/14/84

Main Point: IMF plans to keep policies on borrowing and SDRs stable in 1984.

Summary: “The steady as you go policy is the result of prodding be the U.S. and other large industrial countries, which think the debt problem is easing and won’t need more financing.” This was said in response to appeals by developing countries to strengthen their liquidity by issuing a new round of SDRs. The IMF is also expected to deny an appeal by the World Bank for added funds to lend to Sub-Saharan Africa. “The Reagan Administration, facing budget restraints , is opposed to adding to the bank’s lending pool.” The world’s economy is recovering, and debtor countries have agreed to planned austerity measures, so IMF sees no reason to change policy at this years meeting.

Summary by William Davis