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Flow of resources

NAIROBI: Mr Ghulam Ishaq Khan, Governor, State Bank of Pakistan, has emphasised the need for increased flow of real resources to developing countries at the annual meeting of the International Monetary Fund and World Bank. ... Mr Ghulam Ishaq also asked for an integrated approach to inter-related problems of trade, development assistance and international monetary reforms. He also sought `a suitable revision of the IMF structure to strengthen the voice of developing countries... .

Mr Ghulam Ishaq referred to the difficult problems of adjustment by which developing countries are presently faced on account of flux in international currency markets and inflation in developed countries. To combat inflationary pressures ... developed countries have placed greater reliance on monetary policy. ... This, he added, may further aggravate debt servicing problems of less developed countries. News agencies [Meanwhile, as reported by news agencies from Hong Kong,] Peking wants to join [the IMF and WB]. ... The application for membership took the form of a demand to oust Taiwan. The report from Peking ... said China `solemnly` requested the IMF and the IBRD to ... expel the representatives of the Chiang Kai-shek clique.