COMECON: Soviet Response to the Marshall Plan

To coordinate resource allocation in the Soviet bloc

1. Nondiscrimination, 2) Tariff protection, 3) Submission of trade disputes to consultation, 4) Periodically held forum for negotiations to reduce trade barriers

1964 to 1967

<p>It ensures that any concession made to one signatory country must be extended to all signatory countries.</p> Signup and view all the answers

<p>To hold multilateral trade negotiations and reduce trade barriers</p> Signup and view all the answers

<p>To help protect countries’ currencies against fluctuations and lend funds to countries with balance-of-payments problems.</p> Signup and view all the answers

<p>SDRs are credits available to countries with balance-of-payments deficits. Deficit countries can borrow currencies from countries with surpluses.</p> Signup and view all the answers

<p>The World Bank extends loans to its members for economic development projects like infrastructure, education, and energy programs.</p> Signup and view all the answers

<p>A nation's quota, which is a combination of 25 percent gold and 75 percent of the nation's currency.</p> Signup and view all the answers

<p>Irrigation and drainage systems, schools, roads, telephone lines, and energy-related programs.</p> Signup and view all the answers