English, Article edition: Northwest of Suez: The 1956 Crisis and the IMF James Boughton

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Northwest of Suez: The 1956 Crisis and the IMF
Author
  • James Boughton
Physical Description
  • article
Notes
  • RePEc:pal:imfstp:v:48:y:2002:i:3:p:1
  • Egypt's nationalization of the Suez Canal in 1956 and the failed attempt by France, Israel, and the United Kingdom to retake it by force constituted a serious political crisis with significant economic consequences. For the United Kingdom, it engendered a financial crisis as well. That all four of the combatants sought and obtained IMF financial assistance was highly unusual for the time and had a profound effect on the development of the IMF. This case study illustrates the complexities in isolating the current account as the basis for determining a balance of payments "need" and shows that the speculative attack on sterlingóand the IMF's response to itówere remarkably similar to financial crises in the 1990s. Copyright 2002, International Monetary Fund
  • RePEc:imf:imfstp:v:48:y:2002:i:3:p:1
Language
  • English
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