Abstract
This review of the academic and official literature relating to international monetary issues and the developing countries concentrates on three matters: the appropriateness of conventional fiscal, monetary and exchange-rate measures for balance-of-payments adjustment in developing countries; the need of developing countries for international liquidity and the adequacy of supply to them; and the monetary legitimacy and technique of linking international liquidity creation and development aid. It describes the opportunity which the breakdown of the Bretton Woods system in 1971, and the subsequent establishment of the Committee of Twenty, have provided for developing countries to have a voice in international monetary affairs; and it indicates a number of areas for further research and study at the policy level. © 1975.