http://www.britishpathe.com/video/stills/bretton-woods-money-pact-signedArticles of Agreement of the International Monetary Fund and IBRD, July 1944
Ο Ανδρέας Παπανδρέου στην διάσκεψη στο Bretton Woods
ΟΙ ΕΛΛΗΝΕΣ ΕΚΠΡΟΣΩΠΟΙ………ΚΑΙ ΠΟΙΟΣ ΕΙΝΑΙ Ο ΕΝΑΣ ΑΠΟ ΤΟΥΣ 2 ΤΕΧΝΙΚΟΥΣ ΣΥΜΒΟΥΛΟΥΣ;;;….ΚΑΙ ΠΟΙΑ Η ΗΛΙΚΙΑ ΤΟΥ ΤΟΤΕ;;;http://agp.archeio.gr/media.php?id=68&page=history&lang=gr ΑΥΤΟΙ ΞΕΡΟΥΝ http://fraser.stlouisfed.org/docs/publications/books/1948_state_bwood_v1.pdf ….ΣΕΛΙΔΑ 299…..
World Bank Group Historical Chronology GREECE
1944 July 1 – 22 Bretton Woods Conference The Articles of Agreement of the International Bank for Reconstruction and Development and the International Monetary Fund were drawn up and adopted at Bretton Woods, New Hampshire, in a conference of 44 governments. The governments represented were: Australia, Belgium, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, Cuba, Czechoslovakia, Dominican Republic, Ecuador, Egypt, El Salvador, Ethiopia, France,Greece, Guatemala, Haiti, Honduras, Iceland, India, Iran, Iraq, Liberia, Luxembourg, Mexico, The Netherlands, New Zealand, Nicaragua, Norway, Panama, Paraguay, Peru, Philippines, Poland, South Africa, USSR, United Kingdom, United States, Uruguay, Venezuela, Yugoslavia. “Representatives of the 44 United and Associated Nations met at the Mount Washington Hotel on July 1. Theoretically they were expected; actually, there appeared to be some doubt. Some of the faucets produced clear water, but not all of the time, a failing for which the free Coca-Cola dispensers on the veranda did not fully compensate. Interior partitions were missing in some of the conference rooms, and although stenographic desks and “appropriate chairs” were furnished as advertised in the pre-conference information bulletin, there was a dearth of appropriate occupants—until a member of the U. S. delegation produced a supply from Washington government agencies. “Many already or subsequently to become well-known names were on the roster of delegates and there were many distinguished faces—including that of a gentleman who, having been swept up into an evening discussion in the delegate’s suite, listened intently, said little, and, when asked to which delegation he belonged, replied, “None. I am the Arthur Murray instructor.” Despite the initial confusion, a prodigious amount of work was done during the three weeks of the conference. Many persons were assigned to both the Bank and Fund committees, which met round the clock, and in addition to committee meetings, there were plenary sessions, where microphones were whisked from speaker to speaker by Boy Scouts, Cub-size.“This expenditure of energy and effort was concentrated not upon the Bank but upon the Fund. This was foreshadowed by the conference invitation, which described the objective as the formulation of definite proposals for an international monetary fund and “possibly” for a bank. Many major issues common to the two proposals were in fact settled in connection with the Fund Articles: capital participations, representation of the Board and voting power, for instance. Indeed, the drafting committee for the Bank Articles took large chunks of the Fund text as a model and adapted them, although occasionally adaptation became adoption. “International concern over the competing currency devaluations and inflationary tendencies that characterized the interwar years and the fear of a post-war economic depression had been the genesis of the conference and the Fund proposal. The Bank, on the other hand, was conceived of primarily as an instrument through which the physical assets of the post-war world might be rebuilt. Development financing was envisaged as an activity in which the Bank would ultimately but not immediately engage. It was the Latin American countries which were principally responsible for the emphasis on development; not being themselves in need of reconstruction, they suggested a requirement that equal amounts be expended for the two objectives, although this suggestion was modified when it was realized that it might in practice have the unintended effect of holding development expenditure down to the level of lending for reconstruction.“In fact, the requirements of reconstruction proved to be very different from what had been envisaged at Bretton Woods, calling for extensive and prolonged U.S. aid in the form of grants, and this in turn helped the Bank to expand its activities in the field of development much sooner and much more fully than had been anticipated. In other respects as well, the actual operations of the Bank differ considerably from those assumed at the Conference. Fortunately, the Articles of Agreement are sufficiently flexible (a more polite word than “vague”) to permit the Bank to perform its task despite changed circumstances.” Bretton Woods Recalled, by Shirley Boskey in International Bank Notes, June 1956.
1945 December 27 First signatories of the IBRD Articles of Agreement On December 27, 1945. representatives of the first countries to sign the IBRD Articles of Agreement met in Washington, D.C. : Belgium, Bolivia, Canada, China, Czechoslovakia, Egypt, Ethiopia, France,Greece, Honduras, Iceland, India, Iraq, Luxembourg, Netherlands, Norway, Philippines, South Africa, United Kingdom, United States, Yugoslavia. The Articles became effective on December 31, 1945 upon signature by twenty-eight governments.
1957 February 25 Death of Kyriakos Varvaressos Announced Announcement made of the death of Kyriakos Varvaressos, one of the first Executive Directors of the Bank (representing Greece). Varvaressos took an active part in the preparatory work and discussions for the establishment of the Fund and Bank, and represented his country at the Bretton Woods Conference. He later served in the Economic Department and as Economic Adviser on the Economic Staff from 1948.
1957 September 26 IFC Articles of Agreement Signed by Greece IFC Articles of Agreement signed by Greece, becoming the 53rd member of IFC.
1962 January 9 IDA Articles of Agreement Signed by Greece IDA Articles of Agreement signed by Greece, becoming the 57th member of IDA.
1968 March 18 First Funding for Greece First funding for Greece: Loan 0530 – National Investment Bank for Industrial Development. The loan was used to assist in the financing of the foreign exchange cost of investments by beneficiary enterprises.
WORLD BANK PROJECTS GREECE
Articles of Agreement of the International Monetary Fund and IBRD, July 1944
Conceived during World War II at Bretton Woods, New Hampshire, the World Bank initially helped rebuild Europe after the war. Its first loan of $250 million was to France in 1947 for post-war reconstruction. Reconstruction has remained an important focus of the Bank's work, given the natural disasters, humanitarian emergencies, and postconflict rehabilitation needs that affect developing and transition economies.Today's Bank, however, has sharpened its focus on poverty reduction as the overarching goal of all its work. It once had a homogeneous staff of engineers and financial analysts, based solely in Washington, D.C. Today, it has a multidisciplinary and diverse staff including economists, public policy experts, sectoral experts, and social scientists. 40 percent of staff are now based in country offices.
The Bank itself is bigger, broader, and far more complex. It has become a Group, encompassing five closely associated development institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), theInternational Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).
US Secretary of the Treasury, Henry Morganthau, Bretton Woods, July 1944
Transition During the 1980s, the Bank was pushed in many directions: early in the decade, the Bank was brought face to face with macroeconomic and debt rescheduling issues; later in the decade, social and environmental issues assumed center stage, and an increasingly vocal civil society accused the Bank of not observing its own policies in some highprofile projects.
To address concerns about the quality of Bank operations, the Wapenhans Report was released and soon after, steps toward reform were taken, including the creation of an Inspection Panel to investigate claims against the Bank. However, criticism increased, reaching a peak in 1994 at the Annual Meetings in Madrid.
Reform and Renewal
Mother and daughter, China, 1993
Since then, the Bank Group has made much progress. All five institutions have been working - separately and in collaboration - to improve internal efficiency and external effectiveness. Clients report to be broadly pleased with the changes they see in Bank Group service levels, commitment, deliveries, and quality.More than ever before, the Bank is playing an important role in the global policy arena. It has effectively engaged with partners and clients in complex emergencies from post-conflict work in Bosnia to post-crisis assistance in East Asia to post-hurricane clean-up in central America to post-earthquake support in Turkey and in Kosovo and East Timor.
Notwithstanding these considerable progress, the Bank Group's agenda is not yet complete, nor can it ever be, while the challenges of development continue to grow.
For a timeline of key events in Bank history, see the World Bank Group Historical Chronology.