Capital controls, the IMF, and postwar liberalization debates (1945–1973)

1. Bretton Woods Conference designs IMF framework

   Jul 22, 1944Labels: Bretton Woods, International Monetary

   • IMF Timeline
   • IMF Articles

2. IMF Articles enter into force

   Dec 27, 1945Labels: IMF Articles, International Monetary

   • IMF Articles
   • IMF Articles

3. IMF rules permit capital controls

   Dec 27, 1945Labels: IMF Articles, Capital controls

   • IMF Articles

4. IMF begins financial operations

   Mar 1, 1947Labels: International Monetary, IMF lending

   • IMF Timeline
   • IMF History

5. European Payments Union begins to ease payment constraints

   Jul 1, 1950Labels: European Payments, Western Europe

   • CVCE EPU
   • CVCE Treaty

6. European currencies restore convertibility for current transactions

   Dec 27, 1958Labels: Article VIII, European currencies

   • IMF Articles
   • CVCE Chronology

7. OECD adopts capital-movement liberalisation code

   Dec 14, 1961Labels: OECD, Capital liberalisation

   • EDIT OECD
   • OECD Guide

8. United States adopts Interest Equalization Tax

   Sep 2, 1964Labels: United States, Interest Equalization

   • State FRUS
   • IET Overview

9. IMF creates Special Drawing Rights via First Amendment

   Jul 28, 1969Labels: IMF Amendment, Special Drawing

   • IMF Articles
   • BoE SDRs

10. First SDR allocations begin

    Jan 1, 1970Labels: SDR allocations, International Monetary

    • BoE SDRs
    • PMC SDRs

11. Nixon suspends dollar-gold convertibility

    Aug 15, 1971Labels: United States, Nixon shock

    • Springer 1971
    • Nixon Shock

12. Smithsonian Agreement briefly realigns exchange rates

    Dec 18, 1971Labels: Smithsonian Agreement, Major currencies

    • Smithsonian
    • Time Gold

13. Major currencies shift to generalized floating

    Mar 1, 1973Labels: Generalized floating, Major currencies

    • Nixon Shock
    • Bretton Woods