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9/04/75 - Wives of Delegates of the IMF and World Bank Annual Meeting
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9/04/75 - Wives of Delegates of the IMF and World Bank Annual Meeting
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Betty Ford White House Papers
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International Monetary Fund. (07/1944 - )
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The original documents are located in Box 4, folder "9/04/75 - Wives of Delegates of the
IMF and World Bank Annual Meeting" of the Betty Ford White House Papers, 1973-1977
at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Betty Ford donated to the United States
of America her copyrights in all of her unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Date Issued 9/3/75
By Pat Howard
Revised
FACT SHEET
FORD i LIBRARY GERALD
Mrs. Ford's Office
Event Tour/Tea
Group Wives of Delegates of the IMF and World Bank Annual Meeting
DATE/TIME September 4, 1975 2:30 p.m. Tour - 3:15 p.m. Tea
Contact John Gartland and Mrs. Jeffries
Phone 797-2150 964-5337
Number of guests: Total 250
Women X
Men
Children
Place State Floor_ State Dining Room
Principals involved Mrs. Ford (possible drop-by)
Participation by Principal (possible drop-by) (Receiving line) mingle informally
Remarks required none
Background The Delegates of the IMF and World Bank are having their annual meeting
in Washington, D. C. during this week.
REQUIREMENTS
Social:
Guest list yes (Mrs. Jeffries to Pat Howard)
Invitations no
Programs no Menus no
Refreshments yes
Entertainment no
Decorations/flowers yes
Music yes
Social Aides yes
Dress Afternoon Dress
Coat check no
Other
--
Press:
Reporters TO BE RESOLVED
Photographers --
TV Crews --
White House Photographers yes
Color yes
Mono.
Other ---
Technical
Support:
Microphones nc
PA Other Rooms
no
Recording no
Lights no
Transportation Buses (5) arrive at East Gate for Tour ?
Parking North Grounds
Housing
--
Other
--
(Risers,stage,platforms) --
Project Co-ordinator Pat Howard
Phone 2927
Site diagrams should be attached if technical support is heavy.
THE WHITE HOUSE
WASHINGTON
September 3, 1975
FORD & LIBRARY GERALD
MRS. FORD:
Event:
Tour/Tea for the Wives of Delegates of the International
Monetary Fund and World Bank Group Annual Meeting
Date/Time:
September 4, 1975 Tour: 2:30 p.m. Tea: 3:15 p.m.
Place:
State Floor
Number of
Attendees:
Approximately 250 ladies
Principals:
Mrs. William E. Simon, wife of the Secretary of the Treasury
Mrs. Robert S. McNamara, wife of the President of the
International Bank for Reconstruction and Development
Schedule of
Events:
2:30 p.m.
Your guests will arrive through the East
Gate and will be escorted on a special tour
of the White House.
Following the tour, your guests will be
escorted to the State Dining Room where
refreshments will be served to your guests.
3:15 p.m.
You will be escorted via elevator to the
State Floor where you will mingle informally
with your guests.
3:40 p.m.
You will bid farewell to your guests and
return to the Family Quarters.
NOTES:
A String Ensemble will be positioned in the
Grand Hall.
Military Social Aides will be present.
A White House photographer will be present.
Background information is attached.
Guest list is attached.
Pat Howard
WHITE HOUSE TOUR - Guest List
FORD R. LIBRARY
AASE, W. - Norway
BELL, T.B.C. - U.S.
AGUAVIADOR, A. - Philippines
BELL, B.M. - Andaina
AKEL, F. to, Yemen Arab Rep.
BALDWIN - - U.S.A.
A1-Saghban, N. - Iraq
BEDROSSIAN, R. - U.K.
AKUNCI - Turkey
BOHR - U.S.A.
AMNA, V. - Western Samoa
BENGELLOUN (MS.) - Morocco
AMARAL , O. - Portugal
BENGELLOUN (Mrs.) - Morocco
ARISTEGUIETA, R. - Venezuela
BENNETT, Jack F. - U.S.A.
ARREA, M.E. - Costa Rica
BICALLIO, Celia - Brazil
ALAOUI - Morocco
BLACKMAN, Gloria - Barbados
ARORA - India
BRUCE, A.S.
ALI ATTIBA - OAPEC
BOEUW, G.K. - Canada
AUDGILD Petersen - Norway
BREKKE, N. - Norway
AYARI - Arab Bank for Economic Development in
Africa
AYOUBI, S. - Syrian Arab Republic
BRENNIER - France
BARCELON, T.A. - Philippines
BROWN, V.B. - U.S.A.
BASAK, A.K. - India
BROWNE, J. - South Africa
BATTIWALLA - India
BURKE, E. - Scotland
Because, P. - senegal
Burgess, R. - U.SA
- 2 -
CABELLO, Alba - Spain
Exter, John - U.S.A.
CALLAGHAN - Australia.
ELESPURU - Peru
CARAM, Yolanda - Argentina (2)
EL FIHRI - Morocco
DE CARVALHO, E.M. - BRAsil
ESPINOSA. I. - Colombia
CERON - Spain
FINAIJH, H. - Lybian Arab Rep.
CHARIF, M. Syrian Arab Republic
FINCH - Australia
CHERNICK, Sarra - Canadian
FOGLIZZO France
CHESSELL, S. - Australia
Franco H. E.D.
CHONG Ngoh - Malaysia
GACHECHEH M.J. - Kenya
CLYDESWIR - U.K.
CONEA, M.B. - Brasil
GABR E. - Egypt
DE MIRANDA, J. - Netherlands
GFANI M. Israel
DEANE, Lorraine - Commonwealth Secretariat GAREISS H. - U.S.A.
DEANE - New Zealand
GANIDIA M. - El Salvador
DENN, P. - U.K.
GENIA - Uganda
DE PALOMO, A.M - Guatemala
GILMORE Y.- - URUGUAY
DELMA DE GONZALEZ Central American
Monetary Céuncil
GUEN I. - Tunisia
GUNTER - U.S.A.
DOUVELLE, 0. - Canada
HABANANDA - France
EMMONHEUI, I. - Venezuela
HABERLER G. - U.S.A.
ERGENEKON, Y. - Turkey
Hapez UAUE? y- Egypt
- 3 -
HALL A. - Sweden
JENE - Senegal
FORD & GERALD LIBRARY
HARPHAM R.C. - U.S.A.
JISKOOT - Holland
JOHNSON - Sierra Leone
HASCHEK - Austria
JOYCE R.K. - Canada
HAUSLAGE - Germany
KAMMERT J. - U.S.A.
HAYDEN W.G. - Australia
KAPUR - India
HEALY D. - U.K.
KARTADJOEMENA R.A. - Indonesia
HENNIGUEAU - France
KATABI N. - Syria
HERMANS H.C.L. - BotswanaHILAIRE CHANETON E.B, - Argentina
HODJERA I. - Ecuador
KEARNS H. - U.S.A.
HORWOOD O.P.E. - South Africa
KEIDEL G.E. - U.S.A.
HOOI LAI HOOUG - Malaysia
KELLY Th. J. - U.S.A.
HORIE S. - Japan
KETTANI - Morocco
HOST-MADSEN - Malawi
KIINGI M. UGANDA
MRS. HOWELL W.R. & daughter - U.S.A.
KJAER H. Denmark
IMADY E. - Syria
KORIE
INOUE U. - Rep. of the Philippines
RAILI L. - Finland
JACOBS C.A. Caribbean
LAMBERT A. - Canada
JAPHET E. - Israel
LANEROLLE L. - Sri Lanka
JARGAS GAVILLANO - - Peru
LAKOUE - Centrafrique
- 4 -
MEOL- U.S.A.
LANGELAAR - Holland
MEVLEMANS 1. - Belgium
LANGER - Germany
MICHURI J.E. - Kenya
LAWHER O.T. - U.S.A.
MORECHI L. - Italy
LAYCOCK P. - Canada
MOUASTERIU J.M.U. - Mexico
LE CLERCK - Belgium
MUAWANSHIKU L.S. - Zambia
LEDOUX - France
MURRAY C.H. Ireland
LOMAX M. - U.K.
NEUFELD - Canada
LOPEEZ SOLDS C. - Nicaragua
NIANG Senegal
LOUW-MILLET A. - Belgium
NIMATALLAH Y.A. - Oman
MACDONALD N. - Canada
NORLAND G.E. - England
MACUJA S. - Philippines
NYMARK J. - Canada
MALDONADO^H. - Mexico
NYREN J. - Sweden
McNAMARA, M. - U.S.
OBELA D. - People Rep. of Congc
MANAS Spain
OORT C.P. - Netherlands
MARAL K. - Turkey
OYE-MAA - Gabon
MACHLUP M. - U.S.A.
PALMER M. - England
MCLAUGHLIN P.A. Australia
-
PEHOUA - Central African Republ
McNEIL F. - Enada
PERRY S. - U.N.
MEDICI V.A. - Malta
PERRY S. - New Zealand
MELVILLE A.G. - U.S.A.
- 5 -
POGNON - Dahomey
SIGURDS SON L. - Iceland
PORGES J.M. - U.S.A.
SIMBA K. - E.A. Community
POOCHIDERI J. - Uruguay
SIMPSON J. - SButh Africa
REA D. - New Zealand
SINDIONK M. Philippines
-
RENOUVELLES A. - Spain
SMITH B.H. - New Zealand
RENOMBO - Gabon
SPITERI S. - MAlta
REYES I. - Philippines
STANEJA N. - India
TAGLE m. - Philippines
REYES M. - PHilippines
TCHANOUE P. - Cameroun
RUCGARDSIB - U.K.
TEMBO R. - Malawi
LADY RINGADOO - Mauritius
TILAKARATNA - Sri Lanka
RIVERA T.R. - Philippines
TIZARD R.J. - New Zealand
ROSOLES - H. - El Salvador
TVEDT E. - Norway
ROSANIA L. - Italy
UNAKUL Thailand
RYE C.R. - Australia
UPASANI A. - India
SACERDOTI E. - Italy
VAN HUYAATSEN D.P.S. - Sauth Africa
SANTISTEVAN South America
VEN DER VALK - Bahamas
SCHROEDER A. - Uruguay
TENKATARAMANANAN H. - India
SCHREIBER H. - Germany
TOURE, - Mauritania
SCHWEITZER, Mrs. - Australia
- 6 -
WESTERMAN - Australia
FORD LIBRARY
WHITAKER N. - Ireland
WITTEVEEN, L. - Netherlands
YAMAUCHI H. - Japan
YOSHIOKE - Japan
ZETTERSTROM U.S.A.
ZINNER G. - Brazil
ZULU G.F.K. - Zambia
Women's Program
1975
WOMEN'S PROGRAM
R.S.V.P.
Monday, September 1
Monday, September 1
12:30
WELCOMING BUFFET LUNCHEON at the World Bank,
WELCOMING BUFFET LUNCHEON
701-19th Street, N.W.
at the World Bank
(Buses available at the Sheraton-Park Hotel at 12:15)
followed by
followed by
2:30-4:45
SIGHT-SEEING TOUR OF WASHINGTON
SIGHT-SEEING TOUR OF
(English, French and Spanish speaking guides)
WASHINGTON
Tuesday, September 2
Tuesday, September 2
9:30-2:30
BOAT TRIP TO MOUNT VERNON AND TOUR
BOAT TRIP TO MOUNT VERNON
of the first President's home and grounds
Tour and Luncheon
Mrs. McNamara and Mrs. Witteveen, hostesses
Mrs. McNamara and Mrs. Witteveen,
Luncheon will be served aboard the boat.
hostesses
Wednesday, September 3
Wednesday, September 3
9:30-12:30
INTERNATIONAL WOMEN'S YEAR PROGRAM
INTERNATIONAL WOMEN'S YEAR
Main speaker: Mrs. Helvi Sipila, Assistant Secretary
PROGRAM
General, United Nations
(Simultaneous interpretation-French and Spanish)
Welcome to the Annual Meetings
Sheraton-Park Hotel, Meeting Room No. 4
Please choose the activities you wish to attend, indicate your
choices on the detachable R.S.V.P., and leave it at the Women's
Thursday, September 4
Thursday, September 4
Hospitality Center in the Sheraton-Park Hotel lobby as soon as
9:30-12:00
TOUR OF THE NATIONAL COLLECTION OF FINE ARTS
NATIONAL COLLECTION OF
and a special visit with the Director of the Gallery,
FINE ARTS
possible.
Dr. J. C. Taylor
or
Wives from the World Bank Group and the International Monetary
or
Fund will be present to help you. They will be wearing red badges.
Language assistance will be available.
9:30-2:30
BRETTON WOODS RECREATION CENTER
BRETTON WOODS RECREATION
Swimming, tennis or golf
CENTER
We look forward to seeing you at these various activities.
Buffet lunch
Swimming, tennis or golf
(underline which) Buffet lunch
Mrs. Robert S. McNamara
Mrs. H. Johannes Witteveen
2:30-4:00
HISTORIC TOUR OF THE WHITE HOUSE
HISTORIC TOUR OF THE
and
WHITE HOUSE
The Women's Hospitality Committee:
World Bank Group:
Mrs. Claude Isbister
Please check both boxes for each activity
Mrs. Donald W. Jeftries
you plan to attend. Turn this R.S.V.P. slip
Mrs. E. Peter Wright
in to the Women's Hospitality Center,
Sheraton-Park Hotel lobby, and keep the
I.M.F.:
Mrs. C. David Finch
Documentary Films: Films of special interest will be shown daily at the Sheraton-Park Hotel.
program for your reference.
Mrs. John W. Gunter
Look for announcement of titles and times at the Women's Hospitality Center.
Transportation: All buses will depart from and return to the Sheraton-Park Hotel at the times
Name
indicated. The only exception will be the buses for the sight-seeing tour on September 1,
which will leave from the World Bank.
Country
1975 ANNUAL MEETINGS, BOARDS OF GOVERNORS
Personal Escorts: Volunteers are available for assistance in shopping or making a spe-
Hotel
World Bank Group and International Monetary Fund
cial visit. Please make your request at the Women's Hospitality Center, indicating language
Sheraton-Park Hotel, Washington, D. C.
requirement, if any.
Room Number
1975 ANNUAL MEETINGS, BOARDS OF GOVERNORS
World Bank Group and International Monetary Fund
INTERNATIONAL WOMEN'S YEAR PROGRAM
Sheraton-Park Hotel-Meeting Room No. 4
Wednesday, September 3, 9:30 a.m.
"Reflections on the Status of Women: World's Majority Minority"
SPEAKERS:
Helvi Sipila-Assistant Secretary General of the United Nations. Lawyer. Member of the
Finnish Delegation to the U.N. since 1966. Responsible for having 1975 declared
International Women's Year. Involved in social and humanitarian matters, the status
of women, racial discrimination, and human rights.
Estelle R. Ramey-Scientist. Degrees in chemistry and endocrinology. Leader and active in
Women's Rights Movement in the United States. Teacher and researcher. Member of
the Commission on Human Resources of the National Academy of Sciences, and
President of the Association of Women in Science.
Teresa Orrego de Figueroa-Sociologist. Trained in her native Chile and in the U.S.
Worked in socio-economic organizations and Pan American Health Organization.
Has many publications on marginality, youth problems and women's participation.
Pushpa N. Schwartz-Economist. Native of India. Concerned with international develop-
ment, women in development. Has been associated with the National Research
Council, National Academy of Sciences, the Commission on International Develop-
ment, and the United Nations.
Ver programa en español al reverso.
Côté à conserver.
Remettre au centre d'accueil la partie écrite en anglais.
PROGRAMME RESERVE AUX DAMES
Lundi 1er septembre
12h30
BUFFET DE BIENVENUE au siège de la Banque Mondiale
(701, 19th Street, NW)
Départ des autocars de l'hôtel Sheraton-Park à 12h15
Suivi d'un
14h30-16h45
TOUR GUIDÉ DE WASHINGTON
(guides parlant anglais, français et espagnol)
Mardi 2 septembre
9h30-14h30
EXCURSION EN BATEAU A MT. VERNON ET VISITE de la
demeure du premier Président des Etats-Unis, en compagnie
de Mesdames McNamara et Witteveen
le déjeuner sera servi sur le bateau
Mercredi 3 septembre
9h30-12h30
PROGRAMME DE L'ANNÉE INTERNATIONALE DE LA FEMME
Conférencière: Mme Helvi Sipila, Sous-secrétaire
générale aux Nations Unies
(interprétation simultanée en français et en espagnol)
Hôtel Sheraton-Park, salle No 4
Jeudi 4 septembre
9h30-12h00
VISITE DE LA "NATIONAL COLLECTION OF FINE ARTS"
(peintures et sculptures américaines) sous la conduite de
son Directeur, M. J.C. Taylor
ou
9h30-14h30
MATINÉE DE DÉTENTE AU CENTRE DES LOISIRS DE
BRETTON WOODS (natation, tennis ou golf)
Buffet
14h30-16h00
VISITE GUIDÉE DE LA MAISON BLANCHE
Films documentaires: II s'agit de documentaires portant sur divers sujets qui seront projetés
chaque jour à l'hôtel Sheraton-Park. Les titres de ces films et l'heure des séances seront
affichés au Centre d'accueil.
Transport: Tous les autocars partiront de l'hôtel Sheraton-Park et reviendront au même endroit
aux heures indiquées, sauf le 1er septembre, jour du tour guidé de Washington. Ce jour là ils
partiront du siège de la Banque Mondiale.
Escortes personnelles: Des dames seront à votre disposition à titre bénévole pour vous accom-
pagner aux points d'intérêt ou dans les magasins. Veuillez faire votre demande auprès des
responsables du Centre d'accueil en indiquant, le cas échéant, si vous avez besoin d'une
accompagnatrice parlant votre langue.
Programme en français au verso.
Sirvase guarder esta hoja para su información y entregar la hoja
en inglés en el Centro de Recepción.
PROGRAMA PARA LAS SEÑORAS
Lunes, 1° de septiembre
12:30
ALMUERZO DE BIENVENIDA en la sede del Banco
Mundial, 701-19th - Street, N.W.
(Los autobuses saldrán del Hotel Sheraton-Park
a las 12:15 horas)
seguido de una
2:30 a 4:45
GIRA TURISTICA DE LA CIUDAD DE WASHINGTON
(Servicios de guías en inglés, francés y español)
Martes, 2 de septiembre
9:30 a 2:30
EXCURSION EN BARCO A MOUNT VERNON Y VISITA
a la antigua residencia del primer Presidente de los
Estados Unidos, acompañadas por la
Sra. McNamara y la Sra. Witteveen
El almuerzo será servido a bordo
Miércoles
3 de septiembre
9:30 a 12:30
PROGRAMA SOBRE EL AÑO INTERNACIONAL DE LA MUJER
Principal oradora: Sra. Helvi Sipila, Subsecretaria General
de las Naciones Unidas
(Interpretación simultánea en francés y español)
Hotel Sheraton-Park, Sala de Conferencias No. 4
Jueves, 4 de septiembre
9:30 a 12:00
VISITA A LA "NATIONAL COLLECTION OF FINE ARTS"
y entrevista especial con el Director, Dr. J. C. Taylor
o
9:30 a 2:30
CENTRO DE RECREO BRETTON WOODS:
Natación, tenis o golf
Almuerzo
2:30 a 4:00
VISITA ESPECIAL A LA CASA BLANCA
Películas documentales: En el Hotel Sheraton-Park se proyectarán diariamente películas de
interés especiat. En el Centro de Recepción aparecerán los anuncios con los títulos y horas.
Transporte: Todos los autobuses saldrán del Hotel Sheraton-Park y regresarán al mismo a las
horas indicadas. La única excepción será el servicio de autobuses para la gira turística pre-
vista el 1 de septiembre, cuyo punto de partida será la sede del Banco Mundial.
Servicios de acompañantes voluntarias: Las señoras que deseen ir de compras 0 realizar
alguna visita especial podrán contar con los servicios de voluntarias. Se ruega solicitar estos
servicios en el Centro de Recepción, indicando el idioma preferido.
BARRETT
THE WHITE HOUSE
WASHINGTON
FORD LIBRI
1975 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS
OF THE
INTERNATIONAL MONETARY FUND
AND
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
Sheraton Park Hotel
Tuesday, September 2, 1975
Departure: 9:25 A.M.
From: Terry O'DonnelloD
BACKGROUND
You will address the 30th Joint Annual Meeting of the Board
of Governors of the International Monetary Fund and the
World Bank Group at their meeting Tuesday morning at the
Sheraton Park Hotel. The audience will number approximately
3,200.
A background paper prepared by Secretary Simon is attached
at Tab A.
SEQUENCE
9:25 am
Board motorcade on South Grounds
and depart en route Sheraton Park
Hotel.
9:30 am Opening session of the Annual Meetings
is called to order.
-2-
FORD
9:37 am
Arrive Sheraton Park Hotel where you
will be met by:
LIDRARY
Mr. Jumersindo Rodriguez (Venezuela),
Chairman of the World Bank
Mr. Alfredo Lafee (Venezuela), Chairman
of the International Monetary Fund
Mr. Johannas Witteveen (The Netherlands),
Managing Director of the International
Monetary Fund
Mr. Robert S. McNamara, President of the
International Bank for Reconstruction
and Development (World Bank)
Secretary William Simon
Mr. Dana Brantley, Deputy Secretary of
the Annual Meetings
Mr. Nord Schwiebert, General Manager
of the Sheraton Park Hotel
OFFICIAL PHOTOGRAPH
9:40 am
Following the announcement, escorted by
Messrs. Rodriguez, Lafee, Witteveen,
McNamara, Brantley, and Secretary Simon,
you proceed through Delegates seating
to lower rostrum and take your seat.
NOTE: Messrs. Rodriguez, Lafee,
Witteveen, and McNamara proceed to
seats on upper rostrum. Secretary
Simon proceeds to lower podium.
OPEN PRESS COVERAGE
9:42 am
Introduction of you by Secretary
Simon.
9:43 am
Presidential remarks.
FULL PRESS COVERAGE
9:48 am
Remarks conclude.
9:49 am
Escorted by Messrs. Rodriguez, Lafee,
McNamara, Brantley, and Secretary Simon
proceed through Delegate's seats to
rear exit.
NOTE: The escort group will bid
farewell at the motorcade.
-3-
LIBRARY
9:55 am
Board motorcade and depart Sheraton
Park' Hotel en route South Grounds.
10:07 am
Arrive South Grounds.
OF
DEPARTMENT THE THE TREASURY
THE SECRETARY OF THE TREASURY
WASHINGTON
1789
GERALD
FORD
MEMORANDUM TO THE PRESIDENT
Subject: IMF/IBRD Annual Meetings
On Tuesday morning, September 2, you will be addressing
the 30th joint annual meetings of the Board of Governors of
the International Monetary Fund and World Bank Group. As in
the past, these meetings provide an excellent opportunity for
senior policy officials to discuss key international economic
issues. Most free-world nations are members of the two
institutions (they have membership of 127 and 126 countries
respectively). Most will be represented by finance ministers
and central bank governors -- I am the U.S. Governor for both
institutions. The audience will number about 3,200. Brief
notes on the purposes and structure of the two institutions,
and on current issues, are provided below.
International Monetary Fund. The Fund is designed to
promote international monetary cooperation and the removal
and avoidance of restrictions on world trade and payments.
The Fund provides temporary (3-5 year) balance of payments
assistance to members to help them adjust to imbalances without
recourse to measures destructive of national or international
prosperity. The Fund's resources derive from the quota
subscriptions of its members. National quotas are based on
countries' economic and financial strength, and determine
countries' voting rights and access to credit. Total quotas
amount to about $35 billion. The U.S., which has the largest
quota, about $8 billion, has a major voice in the institution.
The IMF is governed by a Board of Governors on which
each country is represented by a Governor and an Alternate
Governor. The Board meets once a year and sets general
policy. The actual operations are administered by a smaller
board of 20 Executive Directors. The five largest members ---
the United States, United Kingdom, Germany, France, and
Japan -- are each represented by an Executive Director; the
other 15 are elected by groups of countries. The Chief
Executive Officer of the Fund is called the Managing Director.
H. Johannes Witteveen, the current Managing Director, is from
the Netherlands.
FORD
- 2 -
CERRITO
The IMF's Articles of Agreement constitute the basic
rules of the international monetary system, and the membership
in recent years has been concerned with major reform of the
Articles. Negotiations on two changes of basic interest to
the U.S. -- dealing with phasing gold out of the system and
legalization of floating exchange rates -- are in process,
as are discussions on an increase in IMF quotas by about 1/3.
In addition, the U.S. will be supporting action in the Fund
to enable it to better meet the balance of payments financing
needs of the developing countries in the present situation.
World Bank Group. The International Bank for Reconstruction
and Development was created parallel with the IMF in 1945 to
make or guarantee loans for productive reconstruction and
development projects, primarily using borrowed funds, along
with some paid-in capital. The Bank's capital and lending
risks are shared by member nations in accordance with their
economic strength, in line with quotas in the IMF.
While the Bank's initial focus was on post-war European
reconstruction, the main work of the Bank today is to lend
funds and provide technical assistance for development projects
in the less developed member countries.
The World Bank has two affiliate organizations: the
International Finance Corporation, created in July 1953,
which helps to mobilize private capital and provides risk
capital for the establishment, improvement, and expansion
of private enterprise; and the International Development
Association, established in September 1960, which provides
loans at low interest rates and long maturities to the poorest
nations.
World Bank loans are made for specific projects, and
borrowers must meet certain standards. These include: the
priority of the project for economic development, its
technical and economic soundness, reasonable assurance that
the loan will be repaid and that the project will be well
managed.
The President of the World Bank is an American. The
current President is Robert McNamara. The World Bank has
126 member countries.
- 3 -
IBRARY
At present, our main concerns in the World Bank Group
are to focus its efforts more heavily on private sector
development and mineral development -- for which we support
a replenishment of the capital of the International Finance
Corporation. We are also concerned about the very rapid
expansion -- recent and projected -- of World Bank program
levels.
William E. Simon
THE WHITE HOUSE
FORD & LIBRARY GERALD
WASHINGTON
1975 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS
OF THE
INTERNATIONAL MONETARY FUND
AND
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
Sheraton Park Hotel
Tuesday, September 2, 1975
Departure: 9:25 A.M.
From: Terry O'DonnelloD
BACKGROUND
You will address the 30th Joint Annual Meeting of the Board
of Governors of the International Monetary Fund and the
World Bank Group at their meeting Tuesday morning at the
Sheraton Park Hotel. The audience will number approximately
3,200.
A background paper prepared by Secretary Simon is attached
at Tab A.
SEQUENCE
9:25 am
Board motorcade on South Grounds
and depart en route Sheraton Park
Hotel.
9:30 am Opening session of the Annual Meetings
is called to order.
-2-
GERALD
LIBRARY
9:37 am
Arrive Sheraton Park Hotel where you
will be met by:
Mr. Jumersindo Rodriguez (Venezuela),
Chairman of the World Bank
Mr. Alfredo Lafee (Venezuela), Chairman
of the International Monetary Fund
Mr. Johannas Witteveen (The Netherlands),
Managing Director of the International
Monetary Fund
Mr. Robert S. McNamara, President of the
International Bank for Reconstruction
and Development (World Bank)
Secretary William Simon
Mr. Dana Brantley, Deputy Secretary of
the Annual Meetings
Mr. Nord Schwiebert, General Manager
of the Sheraton Park Hotel
OFFICIAL PHOTOGRAPH
9:40 am
Following the announcement, escorted by
Messrs. Rodriguez, Lafee, Witteveen,
McNamara, Brantley, and Secretary Simon,
you proceed through Delegates seating
to lower rostrum and take your seat.
NOTE: Messrs. Rodriguez, Lafee,
Witteveen, and McNamara proceed to
seats on upper rostrum. Secretary
Simon proceeds to lower podium.
OPEN PRESS COVERAGE
9:42 am
Introduction of you by Secretary
Simon.
9:43 am
Presidential remarks.
FULL PRESS COVERAGE
9:48 am
Remarks conclude.
9:49 am
Escorted by Messrs. Rodriguez, Lafee,
McNamara, Brantley, and Secretary Simon
proceed through Delegate's seats to
rear exit.
NOTE: The escort group will bid
farewell at the motorcade.
A
LIBRARY
FORD
-
SEATT
LIBRARY
FORD &
GERALD
OF
DEPARTMENT THE THE TREASURY
THE SECRETARY OF THE TREASURY
WASHINGTON
1789
MEMORANDUM TO THE PRESIDENT
Subject: IMF/IBRD Annual Meetings
On Tuesday morning, September 2, you will be addressing
the 30th joint annual meetings of the Board of Governors of
the International Monetary Fund and World Bank Group. As in
the past, these meetings provide an excellent opportunity for
senior policy officials to discuss key international economic
issues. Most free-world nations are members of the two
institutions (they have membership of 127 and 126 countries
respectively). Most will be represented by finance ministers
and central bank governors -- I am the U.S. Governor for both
institutions. The audience will number about 3,200. Brief
notes on the purposes and structure of the two institutions,
and on current issues, are provided below.
International Monetary Fund. The Fund is designed to
promote international monetary cooperation and the removal
and avoidance of restrictions on world trade and payments.
The Fund provides temporary (3-5 year) balance of payments
assistance to members to help them adjust to imbalances without
recourse to measures destructive of national or international
prosperity. The Fund's resources derive from the quota
subscriptions of its members. National quotas are based on
countries' economic and financial strength, and determine
countries' voting rights and access to credit. Total quotas
amount to about $35 billion. The U.S., which has the largest
quota, about $8 billion, has a major voice in the institution.
The IMF is governed by a Board of Governors on which
each country is represented by a Governor and an Alternate
Governor. The Board meets once a year and sets general
policy. The actual operations are administered by a smaller
board of 20 Executive Directors. The five largest members ---
the United States, United Kingdom, Germany, France, and
Japan -- are each represented by an Executive Director; the
other 15 are elected by groups of countries. The Chief
Executive Officer of the Fund is called the Managing Director.
H. Johannes Witteveen, the current Managing Director, is from
the Netherlands.
- 2 -
The IMF's Articles of Agreement constitute the basic
rules of the international monetary system, and the membership
in recent years has been concerned with major reform of the
Articles. Negotiations on two changes of basic interest to
the U.S. -- dealing with phasing gold out of the system and
legalization of floating exchange rates -- are in process,
as are discussions on an increase in IMF quotas by about 1/3
In addition, the U.S. will be supporting action in the Fund
to enable it to better meet the balance of payments financing
needs of the developing countries in the present situation.
World Bank Group. The International Bank for Reconstruction
and Development was created parallel with the IMF in 1945 to
make or guarantee loans for productive reconstruction and
development projects, primarily using borrowed funds, along
with some paid-in capital. The Bank's capital and lending
risks are shared by member nations in accordance with their
economic strength, in line with quotas in the IMF.
While the Bank's initial focus was on post-war European
reconstruction, the main work of the Bank today is to lend
funds and provide technical assistance for development projects
in the less developed member countries.
The World Bank has two affiliate organizations: the
International Finance Corporation, created in July 1953,
which helps to mobilize private capital and provides risk
capital for the establishment, improvement, and expansion
of private enterprise; and the International Development
Association, established in September 1960, which provides
loans at low interest rates and long maturities to the poorest
nations.
World Bank loans are made for specific projects, and
borrowers must meet certain standards. These include: the
priority of the project for economic development, its
technical and economic soundness, reasonable assurance that
the loan will be repaid and that the project will be well
managed.
The President of the World Bank is an American. The
current President is Robert McNamara. The World Bank has
126 member countries.
- 3 -
At present, our main concerns in the World Bank Group
are to focus its efforts more heavily on private sector
development and mineral development -- for which we support
a replenishment of the capital of the International Finance
Corporation. We are also concerned about the very rapid
expansion -- recent and projected -- of World Bank program
levels.
William E. Simon