ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New Substitution Account Proposal-An Assessment

New Substitution Account Proposal An Assessment I S Gulati Considerable lobbying effort has been mounted to canvass support for the passage of the substitution account proposal at the forthcoming meeting of the IMF's Interim Committee, It is, however, hard to accept that the introduction of the proposed substitution account will make any significant contribution towards making the international exchange market less unstable, towards enhancing the position of SDR in the world monetary system or towards promoting world monetary reform generally on the right lines.

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