The place of Special Drawing Rights in the international monetary system

Quarterly Bulletin 1968 Q2
Published on 01 June 1968

The scheme for Special Drawing Rights within the framework of the International Monetary Fund is an important step in the development of the international monetary system. The Bank have therefore asked Mr. L. P. Thompson-McCausland to contribute an article explaining and giving his personal assessment of the scheme.

Mr. Thompson-McCausland joined the staff of the Bank of England in 1939 and was appointed an Adviser. He accompanied Lord Keynes to Washington in 1941 and attended the pre-Bretton Woods Conference in 1943. He was appointed an Adviser to the Governors of the Bank in 1949. On his retirement from the Bank in 1965 he was appointed by the Chancellor of the Exchequer to be a Consultant to the Treasury on international monetary problems, a position he has recently relinquished.

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