Reform of the International Monetary System

A/RES/3084(XXVIII)View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, published in 1974.

What other versions does this mandate have?

2 versions · 1974–1975

This is an older version — the most recent is A/RES/3347(XXIX)

Year	Symbol	Title	Word length	Text similarity
1975	A/RES/3347(XXIX)	Reform of the international monetary system	1,474	13%Compare
1974	A/RES/3084(XXVIII)	Reform of the international monetary system	1,803	–

What subjects does this mandate have?

6 subjects

Balance of Payments Capital Movements Development Finance International Monetary System International Trade Special Drawing Rights

What’s in this document?

20 operative paragraphs

This extracted fulltext may contain errors or omissions. Please check the source document.

Decides to include in the provisional agenda of its twenty-ninth session an item entitled "Charter of Economic Rights and Duties of States".

308:{ (XXVIII). Study on the indexation of prices

Requests the Secretary-General of the United Nations Conference on Trade and Development to prepare, after consultation with the President of the International Bank for Reconstruction and Development, a comprehensive study on the indexation of prices of commodities produced in, and exported by, developing countries and to examine ways and means whereby unit p~ices of m~nuf~ctured imports from developed countnes and umt pnces of exports from developing countries could be automatically linked;

Further requests the Secretary-General of the United Nations Conference on Trade and Development to submit a report on the findings of the study to the General Assembly at its twenty-ninth session, through the Trade anCJ Development Board.

12 !hid., part three.

1 ~ See Proceedinf:{s of the United Nations Conference on Trade and Develorment, Third Session, vol. I. Rr11ort and Annexes (United Nations publication, Sales No.: E.73.IT.D.4), annex I.A.

14 Ibid .. annex Vlll.F.

15 A/9330 and Corr.1, p. 57.

308-1- (XXVIII). Reform of the international monetary syste111

Welcomes the provisions for full and effective p_articipation of the developing countries in the discussions and in. the decision-making process of the reform and emphasizes the role of the Committee on Reform of the International Monetary System and Related Issues as the body fully responsible in all negotiations on the reform;

4_. . I:ec?gniz<'s the need for an appropriate degree of flex1b1hty m the new monetary system to take into account int~r alia, specifically, the special characteristics a~d specific structural probkms of developing countries;

_Invites the International Monetary Fund to give atte~t1on to _the concerns of the developing countries, particularly m the forthcoming review of its current CJUOta, and through that, consequentially, voting structure;

_En_dorses further examination of proposals for establishmg a new fund facility to provide longerte:m balance-of-payments finance for developing countries:

R e~ngni"zes the need for reviewing the methods of <?Perat10n of the International Monetary Fund, in particular the terms for both credit repayments and "stand_-by" arrangements, the system of compensatory fma.ncnw, and the terms of the financing of commodity butter s:och. so as to enable the developing co,mtries to ma1.:c more effectiw use of them;

H\ See Prnceedings of thP United Nations Confcr1,ncc un Tradr an:/ [),-1·clorml'nl. Th.'rd Session. v"I. T, ,1,,,·, .-. , \ UniL'd Nati,,ns publication, Sales N:i: E.7,.ll.fi.4),

Asserts the fundamental importance of ensuring that the reformed system should both create conditions and contain arrangements for promoting an increasing flow of real resources from the developed countries to the developing countries;

Recommends that, within the framework of the reform of the international monetary system, the earliest possible decision should be reached, in accordance with the time-table established by the Committee on Reform of the International Monetary System and Related Issues, on the outstanding issues, including the question of establishing a link between special drawing rights and additional development finance;

Emphasizes that the additional creation of special drawing rights in an adequate and orderly manner by the International Monetary Fund should be

determined on the basis of global liquidity needs;

Agrees that wherever possible the developing countries will be exempted from import and capital outflow controls for balance-of-payments purposes and that special circumstances of developing countries will be taken into account in assessing controls which these countries feel it necessary to apply;

Welcomes the decision of the Committee on Reform of the International Monetary System and Related Issues to set up a Technical Group on the Transfer of Real Resources in order to examine in detail specific suggestions for action which could be taken by the Committee in accordance with its mandate so as to promote the flow of real resources from developed to developing countries.

3085 (XXVIIl). Multilateral trade negotiations

Takes note of the report of the Trade and Development Board for the period from 26 October 1972 to 11 September 1973;rn

Emphasizes that the Tokyo Declaration is expressed in broad terms and opens the way for advancing further work along lines expressed by delegations at the Ministerial Meeting and, in particular, enables Governments, in the course of the work of the Trade Negotiations Committee, to take due account of the concerns, perspectives and principles voiced at Tokyo by different delegations, particularly those of developing countries;

Notes with satisfaction that a number of Governments have decided to enter into comprehensive multilateral trade negotiations within the framework of the General Agreement on Tariffs and Trade in which all countries, developed and developing, will be enabled to participate;

Expects that among the basic objectives guid-- ing these negotiations will be the concepts, as agreed upon in Tokyo, of non-reciprocity and of special and more favourable treatment through differential measures in favour of developing countries, throughout the negotiations, where this is feasible and appropriate;

Invites the participants in the multilateral trade negotiations to ensure that:

The Trade Negotiations Committee will enable the Secretary-General of the United Nations Confcr-- ence on Trade and Development to attend its meetings as appropriate;

The Director-General of the Genera.I Agreement on Tariffs and Trade will keep the Secretary-General of the United Nations Conference on Trade and Development informed, on a continuing basis, of developments in the multilateral trade negotiations in such a manner as to facilitate the work of the Secretary- General of the Conference in assisting the developing countries;

Requests the Secretary-General of the United Nations Conference on Trade and Development to r,> port to the Trade and Development Board at its fourteenth session on all aspects of the negotiations pertinent to the trade and development of develnpini'. countries.

3086 (XXVJII). Aetivities of the lhiil••d i\a1imH Industrial Development Orµ;a11i:t.alio11

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Who adopted this document and its mandates?

What other versions does this mandate have?

What subjects does this mandate have?

What’s in this document?

3085 (XXVIIl). Multilateral trade negotiations

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