Jamaica Agreement and IMF Acceptance of Floating Rates (1976-1978)

1. Nixon ends dollar–gold convertibility

   Aug 15, 1971Labels: Richard Nixon, United States

   • US Historian

2. Smithsonian Agreement resets exchange rates

   Dec 18, 1971Labels: Smithsonian Agreement, G10

   • US Historian

3. Major currencies shift to generalized floating

   Mar 1, 1973Labels: Generalized floating, Group of

   • US Historian
   • Bundesbank

4. IMF negotiators pursue formal legal reforms

   Jan 1, 1975Labels: IMF, Legal reform

   • FRUS

5. Second Amendment exchange arrangements allow member choice

   Jan 1, 1976Labels: Second Amendment, Article IV

   • IMF Articles

6. IMF Interim Committee reaches Jamaica Agreement

   Jan 8, 1976Labels: Jamaica Agreement, IMF Interim

   • FRUS
   • UK Hansard

7. Revised IMF exchange-rate framework is defined

   Jan 12, 1976Labels: IMF framework, Exchange-rate policy

   • UK Hansard

8. IMF begins gold auctions to fund Trust Fund

   Jun 2, 1976Labels: IMF, Trust Fund

   • IMF Bookstore
   • IMF Gold

9. Second Amendment enters into force

   Apr 1, 1978Labels: Second Amendment, IMF

   • IMF Articles
   • IMF Articles

10. Members notify IMF of their exchange-rate regimes

    May 1, 1978Labels: IMF members, Exchange notifications

    • IMF Articles

11. Gold sales and restitution reshape IMF balance sheet

    Dec 1, 1979Labels: Gold sales, IMF balance

    • IMF Gold
    • IMF Silent

12. Jamaica reforms consolidate IMF-backed floating-rate era

    May 1, 1980Labels: Jamaica reforms, IMF

    • IMF Gold
    • IMF Silent