Minister critical of I.M.F.
By PATRICIA HERBERT in Wellington The Minister of Finance, Mr Douglas, yesterday criticised the International Monetary Fund’s decision to relax access to its financial resources.
He said that while the new policy had allowed the I.M.F\ to provide large-scale assistance to countries in acute balance-of-payments difficulties, it had also acted as a catalyst for additional
lending. “I hope this action will not be seen as signalling a lack of support for the adjustment efforts of individual countries, efforts that will be every bit as arduous next year as this,” he said. He asked that the I.M.F. revert to limits on access that could be funded by quota subscriptions alone as payments imbalances declined and if quotas' increased.
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Press, 28 September 1984, Page 2
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121Minister critical of I.M.F. Press, 28 September 1984, Page 2
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