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FOREWORD AND STATEMENT BY THE INTERNATIONAL FINANCE COMMITTEE
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abroad Account Countries accumulated achieved agreed American credit amount approximately Argentina assets balance of payments Bank bilateral Britain British authorities British Government Canada capital commodities considerable continued convertibility currencies current account demand devaluation difﬁculties discrimination dollar area dollar deﬁcit dollar reserves earnings Economic Cooperation Administration effect essential estimated Europe European Recovery Program exchange control exchange rates expenditures Exports and re-exports external ﬁgures ﬁnance ﬁnancial Financial Agreement ﬁrst half gold and dollar Group imports income increase India and Pakistan industries inﬂuence International Monetary Fund investment Item July loan ment Monetary Area Moreover multilateral non-discrimination noted ofﬁcial offset output overseas Pakistan period policies possible Pounds Sterling problem proﬁts purchases raw materials receipts reduction reﬂect restrictions result settlement signiﬁcant Sir Stafford Cripps sources speciﬁc sterling area sterling balances surplus tion trade transfer U. S. dollars United Kingdom volume Western Hemisphere