text: need for greater controL over the creation of internaLional liguidity in line with the requirements of smoothly functioni.ng and stable international trading and financi.al relations. They are also in favour of greater regulaeion of private financial markets that noe escape the supervision of Governments or the regulations of lhe official multilateral financial institutions. They reqard the SDR as a useful international currency unit that could replace naeional currencies as sources of international reserves. They have, however, expressed reservations about the procedures available to guarantee, through the medium of the SDR, greaEer stability in infqrnationaL liquidity and che value of international reserves. Reqardinq exchanqe rates, the countries with centrally planned economies advocate a new system thaE frulal allow fot Bteble buc flexible exchange rates. They feel that these and othef aEpects of the lnternational econonic system should be discussed in a comprehenslve *ay under United Nations auspices. International organi. za tions l. InCernational Monetary Fuitd/world Bank 131. In their responses. the International Monetary Fund and the World Bank drew altention to the April 1.985 meetings of the joint IMF/Wor Id Bank Development Committee and the Interim Comnittee and to the documentation prepared for them.A/40/708 Engl ish Page 3I Before the meelings, the IMF had observed that their aim r,rould be to encourage anopen dialogue on a t{ide range of issues rel.ating to adjustment efforts, ba la nce-of-payment prospects and structural and developmental problems indeveloping countries. The background documentagion would cover such .ublects asthe short- and medium-term out100k for the world econony, deveroping countries'indebtedness to official creditors and commercj.al banks, export credit policies,and trade poricy issues and developments. The n{F was arso preparing documentationon matters related directly to the Fund, sucb as the considerations qovernino anallocation of SDRS and possible ways of making JMF surveillance over -me,nbersi
analysis: The text discusses the need for greater control over international liquidity, regulation of private financial markets, and the use of Special Drawing Rights (SDRs) as an international currency unit. It also mentions the International Monetary Fund (IMF) and the World Bank, and their role in promoting international economic stability. These topics suggest that the text is related to international economic issues, particularly those related to finance and trade.