But beyond this legislation, I find it difficult to imagine a situation in which values would be restored. For the collapse of the fixed exchange rate system was not fortuitous. It was also an event that the authorities prevented tooth and nail. This is due to fundamental economic forces. In recent years, steps have been taken to mitigate these risks. Nevertheless, the rapid expansion of the eurodollar market means that it remains a weak point both in terms of strength and liquidity control. The Jamaican agreement contains no provisions to resolve these problems. In these circumstances, the commission could hardly be expected to have a quick result in the 1920s. Nevertheless, after a year of meetings, policy makers and officials in the various capitals of the world had gained an in-depth understanding of the issues to be addressed, as well as an idea of the positions of the major countries or groups of countries on these issues, which is not a negligible basis for further progress. In August 1975, it was decided not to increase the official price of gold, but to abolish it; this will allow the monetary authorities to carry out gold transactions at any price they deem appropriate.
It was also decided to remove all commitments regarding the use of gold in transactions with the fund and to sell a third of its gold holdings (in a way to describe). In addition, the Group of Ten countries have accepted certain regimes outside the Fund`s articles, but these can be followed by other members of the Fund, the three main paragraphs of which are: over time, oil imports have become less and less appropriate for special loans of funds, especially as the deep global recession has begun to have serious repercussions on international payments. At the same time, the recession has justified some liberalization of the Fund`s credit policy. In Jamaica, it was agreed that, for 1976 and until the amendment to increase overall quotas came into force, overall access to the Fund`s resources would be increased by 100 to 145 per cent, with each tranche (or tranche) of credit increased by 45 per cent, so that the conditionality structure remains unchanged. It is important to note that this measure is intended for all members, not specifically development members. According to the press, Italy was the first country to take an interest in the use of additional access. There is also talk of the “possibility of additional assistance in exceptional cases.” This concerns the possibility that some countries that have overburdened with excessive borrowing in private markets may face cash withdrawals.