Stabilising International Commodity Prices-Too Little Too Late

Commodity Prices Too Little Too Late?
IT has taken fifteen years to find a seat for the Common Fund for Commodities. This July the first governing body meeting of the Fund at Geneva decided to locate its offices at Amsterdam in Netherlands and appointed Budi Hartantyo of Indonesia (a former Dutch colony) its first chief executive. But considering that the Common Fund is the only concrete symbol of the idea of a new international economic order and should have meant a great deal for the developing countries, its birth was a rather quiet affair. Moreover, the process of giving it the final touches has left a few questions about its functioning and the future.