Date
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Czechoslovakia was one of 44 countries to send delegates to the Bretton Woods conference in 1944 and was one of the original signatories of the Bank's Articles of Agreement.

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Czechoslovakia was one of the 44 countries that attended the Bretton Woods conference in July 1944 and, on December 27, 1945, was also one of the first to sign the Bank's Articles of Agreement. Just weeks after the Bank began operations in June 1946, Czechoslovakia became one of the first countries to submit an application for a loan. However, around the same time, in August 1946, Czechoslovakia requested postponement on its capital subscription payments to the Bank, stating that it had financial hardships as gold and foreign exchange reserves were lost or blocked during the war. For the next several years, Czechoslovakia and the Bank tried to negotiate a settlement. Ultimately, Czechoslovakia was suspended from Bank membership on December 31, 1953 due to a failure to pay the balance due on its capital subscription. The membership is officially ceased a year later. On June 30, 1955, Czechoslovakia's accounts will be settled when the Bank repurchases 1,250 shares of its capital stock.

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Draft summary of Bank activites for the UN Economic and Social Council (30151427).
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Draft summary of Bank activites for the UN Economic and Social Council (30151427).

Resource
Title
IBRD Board of Governors Resolution, No. 81
Image
IBRD Board of Governors Resolution, No. 81
Description
Document date: Sept. 12, 1953
The resolution states the approval by the Board regarding the suspension of Czechoslovakia.
Event
88
Title
Draft summary of Bank activites for the UN Economic and Social Council
Image
Draft summary of Bank activites for the UN Economic and Social Council
Description
Feb.9, 1954
The summary of activities notes that Czechoslovakia was suspended from membership for failure to pay the balance due on its capital subscription (30151427).
Event
88
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