পাতা:বাংলাদেশের স্বাধীনতা যুদ্ধ দলিলপত্র (সপ্তম খণ্ড).pdf/১৮৭

153 বাংলাদেশের স্বাধীনতা যুদ্ধ দলিলপত্র : সপ্তম খণ্ড শিরোনাম সূত্র তারিখ ৭৪। আন্তর্জাতিক সম্মেলনে গভর্নর, ষ্টেট ব্যাংক অব | ইন্টারন্যাশনাল মনিটরী ফাণ্ডঃ | ২৯ সেপ্টেম্বর, ১৯৭১ পাকিস্তান, এস, ইউ দুররানীর বিবৃতি প্রেস রিলীজ STATEMENT BY THE HON. S.U. DURRANT, GOVERNOR, STATE BANK OF PAKISTAN AND GOVERNOR OF THE FUND FOR PAKISTAN. at the Joint Annual Discussion We meet in difficult times, as the excellent opening statements of our two chief executives and their Annual Reports so well portray. It is comforting to have in this unsettling environment the wisdom and the leadership of the Bretton Woods institutions. The crisis in world exchange and trade relationships was long in the making. It is perhaps just as well that the dramatic, if somewhat abrupt, actions of the U. S. Government give us an opportunity to look anew at problems that have been accumulating over the years: the erosion of stability in the central economy of the world trading system, the growth of a truly international capital market with no established principles for its regulation, a certain lack of reciprocity in the balance of payments adjustment process, a degree of rigidity in exchange rates which have tended to move out of alignment with relative changes in price levels and in trading power, and, perhaps most importantly, the growing disparity between poor and rich nations in an ever more crowded planet. We urgently need to make a determined effort to dispel the present uncertainties and to prevent the disruption of world trade and payments. The managing Director of the Fund has clearly pointed to the adverse impact of the present situation on developing countries: these effects are particularly distressing since these countries have not contributed in any manner of the difficulties in the adjustment process between the United States and its principal trading partners. We strongly support the Managing Director's recommendation that we proceed to an agreed solution of certain issues without delay since the dangers of a prolonged interregnum are grave. If trade restrictions of currency discrimination or financial distortions graw, there will be serious disruption of development programs based on assumptions of rising capital inflows and enlarging trade opportunities. The less developed world may have a smaller weight in the global volume of production and trade but as the President of the World Bank observed in his address, it must nevertheless support the predominant weight of the world's people. Their concerns in the satisfactory evolution of orderly arrangements for the operation of the international monetary and commercial system are therefore real and their participation must be active and even intimate. While the developed countries would prefer to work out their differences in more restricted groupings, there is too much at stake for the formulating of any solutions to be left to such exclusive forums. In the Bretton Woods institutions we have a world community and it is much to be desired that the process of looking and finding solutions will be channeled through them.