Message to the Boards of Governors of the World Bank and the International Monetary Fund.

Thirteenth Annual Meeting, World Bank and International Monetary fund:

One of the greatest opportunities which free nations have to be of service to one another--and to the larger cause of freedom itself--is that of fostering economic growth and well-being. A key element certainly is the timely provision of needed capital resources.

It is universally true, in my opinion, that governmental strength and social stability call for an economic environment which is both dynamic and financially sound. Among the principal elements in maintaining such an economic basis for the free world are (1) a continuing growth in productive investment, international as well as domestic; (2) financial policies that will command the confidence of the public, and assure the strength of currencies; and (3) mutually beneficial international trade and a constant effort to avoid hampering restrictions on the freedom of exchange transactions.

During the period of their operations the International Bank for Reconstruction and Development and the International Monetary fund have performed an indispensable function in providing both short and long term financial assistance to various nations in need of it. There is widespread agreement as to the effectiveness of these two great institutions. A constructive increase in their resources would result in their greatly enhanced usefulness to the free World financial community.

These facts have prompted me to ask that consideration be given to certain measures designed to increase the capacity of both the Bank and the fund so that they may better serve the rising needs of our free World economy. It is my conviction that through these institutions we can give real encouragement and hope to all our member countries in the decade ahead. A progressively broadening attack upon some of the paramount economic problems of our time can be made possible by this program. I am confident that it can provide a new source of bright hope for the peoples of our world.

DWIGHT D. EISENHOWER