Currency and financial settlements of capitalist countries

    The work offered to the reader characterizes the development of the currency crisis of capitalist countries, especially at the present stage. The currency crisis has engulfed the leading imperialist powers - the United States and England, worsened the currency position of France, as well as a number of developing countries. The crisis threatens the entire monetary system of capitalism, and the International Monetary Fund, established after World War II to help stabilize exchange rates, is vainly working out projects of international currency reform. The book analyzes the causes of the currency crisis: passivity of balance of payments, inflationary processes, falling exchange rates, foreign exchange policy, currency restrictions, payment agreements, the activities of the International Monetary Fund, the gold fever that engulfed the capitalist world. The mechanism of international settlements is outlined. In the struggle for markets, the importance of state monopoly capital in crediting foreign trade increased. The book introduces the system of state insurance of export credits, the organization of state and international foreign trade banks. Special attention is paid to foreign financing of developing countries, shows the insufficiency and costliness of loans to capitalist countries pursuing neocolonialist policies. Currency and financial conditions of foreign trade transactions are described in detail.