text: 47. rn April' the IMF Interin comnittee underscored the inportance it attached colhe role of the Fund in suppore of adjustmen! progranmes and as a financialcatalyst. t.,bile also stressing the importance of close collaboralion betereen theFund and the world Bank. 22/ Decisions reqardinq the financial resources of bothinstiEuti.ons are pend ing .-Bes i des t.he atrove-men i ioned review by the Deueropnentconmittee of the role of the Bank, tbe rnterirn comnittee will consider at its nextmeeting in october 1985 how to deploy resources that. are being rnade availabLe byche repaynen! of Trust Fund loans. A more subscantial increase in rMF resourcesaeraits the Ninth ceneral Review of euotas. 48. Aspects of the reforn of lhe international monetary system itself have alsorteen a concern within the purvien of imnediate neasures. It has frequently beenobserved, for example, tbat one factor responsible for the intensity of ttle sLunpin internalional trade in the early lggos was a gl.obal shortage in liauidity, Eventoday there is a broadly held vier' ehat hlghty unstable financial narkels and widesltings in exchanqe rates warrant an increase in official liouidity. yet it has notbeen possible to reach agreement in the IMF on a new allocation of speclal drawlngrights (sDRs) since the Last allocation on L January 1981. Far from beconing lheprincipat reserve asset of the international monetary system, as called for in theFundrs Articles of Agreement, sDRs are instead accounting for a steadily ctecliningshare of world non-gold reserves. Nevertbeless, reaching agreemene on anallocation of SDRS remains on the agenda of the fnterirn Conmittee. 49. It has also been observed for a long line that international pressures tocorrect disequilibria in the balance of paymenCs fall d ispropor tionately ondeveloping countries. The fMF is charged by its Articles of Agreenene $ittrassuring lhe orderly exchange arrangenenls of all nenber counlries. To do thig,the Fund is to carry out a firn surveillance, lhereby promoting sound underlyingecononic policies. rn recognition of the need to improve the application of cheprinciple of uniforrn treatnent of rnenbers, the rnterim conmi.ttee recently urgedthat consideration should be given t'o means of increasing the effectiveness ofsurveillance of countries which have a significant impact on the sorldeconony. ?f/ fnplementation of lbis reconnendation is tbe responsibility of theExecutive Board.
analysis: The text appears to be discussing the International Monetary Fund (IMF) and its role in the international economy, specifically regarding its financial resources, surveillance, and relations with other international organizations. The text mentions the importance of the IMF in supporting adjustment programs and as a financial catalyst, as well as its role in ensuring orderly exchange arrangements and promoting sound economic policies. The text also touches on the issue of international trade and the need for increased official liquidity.