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International Bank for Reconstruction and Development

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  • Anonymous

Abstract

In a statement of February 1, 1951, the International Bank reported on its financial status and operations for the period from June 30 to December 31, 1950. Net income for the last six months of 1950 amounted to $7,574,631 as compared with $6,672,667 for the first half of the year. Placed in the General Reserve against losses on loans and guarantees, this income increased the reserve to $34,572,901. Gross income for the period was $13,370,710 after deducting loan commissions of $3,114,702 which were appropriated to the Special Reserve which, as of December 31, amounted to $16,851,907. Applications for membership were received from Burma, Indonesia, Hashemite Kingdom of the Jordan and Sweden but final action had not been taken on these applications by the Board of Governors. Since September 30, 1950, three additional countries authorized the Bank to use part or all of their eighteen percent currency subscription for loans; this eighteen percent of a member's capital subscription could not be lent without the member's permission under the Articles of Agreement of the Bank. In December 1950 the Bank sold without its guarantee the following bonds from its investment portfolio: $50,000 of Credit National (France), $50,000 of Grand Duchy of Luxembourg, $50,000 of the Kingdom of the Netherlands, and 2,650,000 Swiss franc bonds of the Herstelbank of the Netherlands. Loans totalling $206,900,000 were made in the last half of 1950 and an additional $65,000,000 was lent early in 1951, bringing to $1,088,375,000 the total of loans made since the Bank began operations.

Suggested Citation

  • Anonymous, 1951. "International Bank for Reconstruction and Development," International Organization, Cambridge University Press, vol. 5(2), pages 368-370, May.
    • Handle: RePEc:cup:intorg:v:5:y:1951:i:2:p:368-370_12
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    Cited by:

    1. Daniel W Gingerich, 2014. "Yesterday’s heroes, today’s villains: Ideology, corruption, and democratic performance," Journal of Theoretical Politics, , vol. 26(2), pages 249-282, April.
    2. Carmelo Mesa-Lago, 2009. "Economic and Social Balance of 50 Years of Cuban Revolution," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 19.
    3. Emanuele Felice & Amedeo Lepore, 2017. "State intervention and economic growth in Southern Italy: the rise and fall of the ‘Cassa per il Mezzogiorno’ (1950–1986)," Business History, Taylor & Francis Journals, vol. 59(3), pages 319-341, April.
    4. Ballinger, Roy A., 1971. "A History of Sugar Marketing," Agricultural Economic Reports 307418, United States Department of Agriculture, Economic Research Service.
    5. Kirby Smith & Hugo Llorens, 1998. "Renaisssance and Decay: A Comparison of Socioeconomic Indicators in Pre-Castro and Current-Day Cuba," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 8.
    6. Michele Alacevich, 2010. "Development Agency or Bank? Vision and Strategy of the World Bank in the 50’s and 60’s," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.
    7. Karlsson Johannes & Matthiasson Thorolfur, 2015. "Tax Evasion, Tax Avoidance and The Influence of Special Interest Groups: Taxation in Iceland from 1930 to the Present," Nordic Tax Journal, Sciendo, vol. 2015(2), pages 1-17, December.
    8. Ballinger, Roy A., 1978. "A History of Sugar Marketing Through 1974," Agricultural Economic Reports 307665, United States Department of Agriculture, Economic Research Service.
    9. Alacevich, Michele, 2008. "The World Bank's early reflections on development : a development institution or a bank?," Policy Research Working Paper Series 4670, The World Bank.
    10. Ward, Marianne & Devereux, John, 2012. "The Road Not Taken: Pre-Revolutionary Cuban Living Standards in Comparative Perspective," The Journal of Economic History, Cambridge University Press, vol. 72(1), pages 104-132, March.
    11. Paul Pissot, 1960. "La productivité de l'agriculture turque," Économie rurale, Programme National Persée, vol. 45(1), pages 3-27.

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