“NOT IMMEDIATE”
REQUEST TO DEVALUE CURRENCY ASSURANCE FROM AMERICA Rec. 11 p.m. WASHINGTON, May 19. The Secretary of the Treasury; Mr John W. Snyder, stated to-day that the prospect of the United States requiring Marshall Plan countries to devalue currencies was not immediate. The issue of devaluation would develop as the world currency stabilisation programme proceeded. Mr Snyder emphasised that the National Advisory Council’s report
stating that the United States might “ require ” some devaluation -was a long-range study. “ The Economic Co-operation Administration, the International Monetary Fund, the World Bank, and Finance Ministers in all the countries involved must study devaluation carefully if European currencies are to be achieved,” he said.
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Bibliographic details
Otago Daily Times, Issue 26777, 21 May 1948, Page 5
Word Count
110“NOT IMMEDIATE” Otago Daily Times, Issue 26777, 21 May 1948, Page 5
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