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In conformity with the decision made by the Council at its First Session, the Director-General submitted two reports on exchange problems, namely a periodic statement on recent developments (CL 2/2) and the first report prepared after consultation with the International Monetary Fund on measures which have been or might be taken to alleviate the exchange situation (CL 2/28).

The Council takes note of these reports. Once again, they make clear the formidable obstacle which currency difficulties place in the way of free movement of food and feeding stuffs in world trade, with constant hinderance to food production in exporting countries and to improvement of optimum consumption in importing countries. While the problem of foreign exchange does not fall within the purview of FAO, the Council feels that it has an obligation to make clear that unless progressive steps towards a solution to this problem can be taken, the achievement of the maximum production of food-stuffs, which is essential, will be rendered impossible. It therefore draws the attention of the appropriate authorities to the fundamental importance of this question.

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