The International Monetary Fund 1966 1971

IMF economists work closely with member countries on a variety of issues. Their unique perspective on country experiences and best practices on global macroeconomic issues are often shared in the form of books on diverse topics such as cross-country comparisons, capacity building, macroeconomic policy, financial integration, and globalization.

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1966. The report highlights that the year 1965 was characterized by substantial, although somewhat uneven, growth in the world economy. For the first time in many years, the rise in industrial output in the United States and Canada was markedly higher than in the other industrial countries, where, in the first half of the year, economic progress was generally rather slow. However, after midyear, economic activity accelerated both in the United States and in the European area.

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1971. The report highlights that the performance of the world economy during 1970 and the first part of 1971 was less than satisfactory in certain major respects. Performance was heavily dominated by developments in the larger industrial countries. The expansion of total world output proceeded at a slow and irregular pace, primarily because of the 1969–70 recession and ensuing moderate pickup of economic activity in the United States.