Abandoning of clearing accounts|
The fact that in recent years, a number of these clearing accounts have been abandoned,
often for no other than political reasons or under the pressure of international
organisations like the International Monetary Fund, should in no way be interpreted as an
improvement of the situation.
The mere discontinuation of a clearing account certainly does not solve the basic
need for some forms of bilateralism, of which clearing accounts are certainly the most
sophisticated form. There are many cases where the disappearance of such clearing merely
results in continued bilateralism in different or even more primitive forms, bringing us
back to the system of barters and countertrade operations. Undoubtedly, the special
arrangements to be made in trying to solve problems connected with these aspects of
international trade require the assistance of qualified and experienced experts in this
type of trade.