Excerpt of a White House Fact Sheet on the Soviet Union and International Financial Institutions

The President has proposed a special association of the Soviet Union with the International Monetary Fund (IMF) and the World Bank that will give Moscow access to the economic and financial expertise in those institutions. He has asked Secretary of the Treasury Brady, as U.S. Governor of the IMF and World Bank, to pursue this proposal with the institutions and other countries and to develop with them the necessary new arrangements.

We believe it is best for the Soviet Union to establish such a relationship with these institutions before addressing the issue of full membership.