Giorgio Cigliana Piazza was the delegate of the Bank of Italy in New York. Following Italy’s adherence to the Bretton Woods Agreements, he was appointed deputy Execu-tive Director at Imf and Vice President for Italy at Ibrd. His reports from Washington contribute to deepening the knowledge about the crucial years of Italy’s progressive opening up to the international competition, its participation in the Bretton Woods system and its role in the Western bloc led by the United States. The first paragraph reconstructs the talks between Italian representatives and Imf leading figures about for-eign exchange policy. The second paragraph is dedicated to the first Ibrd loan to Italy, made possible by, among others, the special relations between the management of the Bank of Italy and Ibrd. The third paragraph, finally, focuses on the involvement of Italy in the first loan of the Bank of Eugene Black to Tito’s Yugoslavia, which opens Italy’s Mezzogiorno to new prospects for commercial expansion.
Keywords: Giorgio Cigliana Piazza, Bank of Italy, Bretton Woods institutes, foreign exchange pol-icy, Italy's Mezzogiorno, Yugoslavia