International Bank for Economic Cooperation
- International Bank for Economic Cooperation
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Its functions include making multilateral settlements in transferable rubles, advancing credit to members to finance temporary trade imbalances, accepting deposits of uncommitted funds in transferable rubles, accepting gold and convertible currencies on deposit, and conducting arbitrage and other financial operations with them. It also performs other banking operations.
General policy decisions are made by the Council, which is composed of representatives from each of the 10 member nations. A 10-member Board acts as the executive body.
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Universalium.
2010.
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