Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1972
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    INDEXES

    Index A: International Monetary Fund

    References to individual countries, other organizations,

    and subjects may be found in Index B

    An asterisk (*) denotes a table, a dagger (†) denotes a chart

    Articles of Agreement

    • Article IV, Par Values of Currencies

      • Section 3, Foreign exchange dealings based on parity, 85, 86, 88

      • Section 4(a) Obligations regarding exchange stability, 85, 86, 87

      • Section 5(c) (i), Changes in par values, 39

      • Section 8, Maintenance of gold value of the Fund’s assets, 87

    • Article V, Transactions with the Fund

      • Section 3, Conditions governing use of the Fund’s resources, 83

      • Section 7, Repurchase by a member of its currency held by the Fund, 42, 46, 47, 48, 58, 59, 75*, 76*, 77*, 88

      • Section 8, Payment of Fund charges, 48, 88

      • Section 9, Remuneration, 49 Article VII,

      • Section 2(h), Measures to replenish the Fund’s holdings of scarce currencies, 48, 80*

    • Article VIII, General Obligations of Members, 49-50

      • Section 3, Avoidance of discriminatory currency practices, 86 Article XII,

      • Section 6(b), Reserves and distribution of net income, 49

    • Article XIV, Transitional Period, 49 Section 2, Exchange restrictions, 86

    • Article XX, Section 2(g), Signature, 87

    • Article XXI, Section 2, Unit of value [of special drawing rights], 90

    • Article XXIV, Section 2(d), Allocation and cancellation [of special drawing rights], 53

    • Article XXV, Operations and Transactions in Special Drawing Rights, 41, 43, 65*(fn), 70* (fn), 83, 84, 85

    • Schedule B, Provisions with Respect to Repurchase by a Member of Its Currency Held by the Fund, 48, 59, 89

    • Schedule G, Reconstitution, 43, 84, 85

    Board of Governors

    • Committee on international monetary reform and related issues, 37, 92-93

    • Membership Resolutions approved, 53

    • Report from Executive Directors on international monetary reform, 37

    • Resolution No. 24-12, Allocation of Special Drawing Rights for the First Basic Period, 57-58, 84

    • Resolution No. 25-3, Increases in Quotas of Members—Fifth General Review, 48, 53, 57, 65*

    • Resolution No. 26-9, International Monetary System, 36, 85, 86, 87

    • Resolution No. 27-2, Amendment to Section 20(b) of the By-Laws of the Fund, 90

    • Resolution No. 27-10, Establishment of a Committee on Reform of the International Monetary System and Related Issues, 37, 92-93

    By-Laws, Rules and Regulations

    • Rule I—Repurchases and Charges in Respect of General Account Transactions, 49 (fn), 84

    • Rule J—Accounting and Reporting, 37, 91

    • Rule O—Transactions Involving Special Drawing Rights, 87, 88, 89

    • Rule P—Reconstitution, 43, 84, 85

    • Section 20, Budget and Audits, 37, 90

    Central Rates of Members

    • Establishment, 3, 39, 45, 61-64*, 85-87

    • See also Exchange Rates of Members, Par Values of Members,and Wider Margins for Exchange Rates

    Consultations with Members

    • Articles VIII and XIV, 37, 49-50

    Deputy Managing Director

      • Address by, 52

      • Reappointment, 53

    Exchange Rates of Members, 1, 2-3, 4, 18, 34, 36, 37-40, 45, 46, 57, 61-64*, 85, 87-89

    Executive Board Decisions

    • 321-(54/32), as amended, Transactions and Computations Involving Fluctuating Currencies, 45, 89

    • 488-(56/5), as amended, Investment of Fund’s Assets, 89

    • 708-(57/57), Fund’s Investment Program, 89

    • 904-(59/32), Exchange Dealings and Margins Under Conditions of Increasing Convertibility, 85, 86, 88

    • 905-(59/32), Fund’s Investment Program, 89

    • 1107-(60/50), Fund’s Investment Program, 89

    • 1371-(62/36), Currencies to Be Drawn and to Be Used in Repurchases, 84

    • 1477-(63/8), as amended, Compensatory Financing of Export Fluctuations, 74*, 89

    • 2192-(66/81), see 1477-(63/8)

    • 2772-(69/47), The Problem of Stabilization of Prices of Primary Products, 83

    • 2844-(69/90), see 488-(56/5)

    • 2901-(69/122) G/S, Use of Special Drawing Rights in Repurchases and Payment of Charges, 42-43

    • 3033-(70/38), Use of Special Drawing Rights in Payment of Remuneration, 49(fn)

    • 3049-(70/44), Effects of Amended Articles on Calculation of Monetary Reserves and Repurchase Obligations Pursuant to Article V, Section 1(b), 59, 89

    • 3087-(70/64), Transactions and Computations Involving Fluctuating Currencies—Application of Rules to the Canadian Dollar, 87

    • 3179-(70/102), Fourth International Tin Agreement: Buffer Stock Financing Facility, 47(fn), 83

    • 3337-(71/44), see 321-(54/32)

    • 3351-(71/51), Buffer Stock Financing Facility: Contribution Under the Fourth International Tin Agreement, 47(fn), 83

    • 3383-(71/81) G/S, Use of Special Drawing Rights in Distribution of Net Income, Fiscal Year 1970/71, 83

    • 3386-(71/83), Gold Tranche Purchases and Buffer Stock Financing Facility, 47(fn), 83

    • 3414-(71/98) G/S, Transfer of Special Drawing Rights Held in the General Account to Participants Making Purchases from the Fund, 46, 84

    • 3415-(71/98) G/S, Amendment of Rule 1-2, 46, 84

    • 3457-(71/121) G/S, Principles and Procedures for Reconstitution, 43, 84-85

    • 3463-(71/126), Central Rates and Wider Margins: A Temporary Regime, 3, 39, 85-87, 88

    • 3537-(72/3) G/S, Adjustment of the Fund’s Holdings of Currencies and Exchange Rates for Transactions Between Participants in Special Drawing Rights, 40, 45, 87-88, 89

    • 3573-(72/13), Fund’s Gold Investment and General Deposits of Gold: Liquidation, 48(fn), 89-90

    • 3577-(72/16), Amendment to Section 20(b) of the By-Laws of the Fund, 37, 90

    • 3578-(72/16), Amendment to Rule J-1(a), 37, 91

    • 3637-(72/41) G/S, Rates for Computations and Adjustments of the Fund’s Holdings of Currencies, 46, 88-89

    Executive Directors

    • List and voting power, 53, 94-96

    • Meeting with Deputies of Group of Ten, 38

    • Membership changes, 53, 97-98

    • Report to Board of Governors on international monetary reform, 37

    • Studies by, 37

    Financial Statements

    • See Organization and Administration

    General Account

    • Accounting unit, 37, 57, 90-91

    • Balance Sheet, 104-105

    • Borrowing and repayment, 46, 49, 59, 80*

    • Buffer stock financing, 47, 53, 71*, 83

    • Charges to members, 42, 46, 48-49, 80*, 81*, 84

    • Compensatory financing, 46, 47, 58, 71*, 74*, 75*(fn)

    • Currencies used in Fund transactions, 44-46, 59

    • Currency holdings and replenishment, 41, 45, 46, 48, 49, 58, 65*, 70*, 88-89

    • Distribution of net income, 49, 58, 65*, 70*, 83

    • General Arrangements to Borrow, 46, 49, 80*

    • Gold

      • Disinvestment in U.S. Government securities, 48, 49, 80*, 89-90

      • Holdings, 25, 48

      • Interest on borrowing, 49, 80*

      • Purchases from members, 25, 48, 80*

      • Quota subscriptions, 25, 48, 80*

      • Reacquisition of deposits from U.K. and U.S., 48, 89-90

      • Remuneration, use in, 49, 80*

      • Replenishment, use in, 25, 48, 58

      • Repurchases by members, use in, 25, 48, 59, 76*, 77*, 80*

      • Summary of transactions, 59, 80* See alsoIndex B

    • Income, expenditure, and reserves, 48-49, 60, 81*, 101, 106-107

    • Net use of IMF credit, 26, 27*, 28, 34, 44

    • Purchases by members, 34, 36-37, 44, 45, 46-47, 58, 71*, 74*, 75*, 77*, 78*, 79†, 83, 84, 85

    • Remuneration, payment of, 49, 58, 65*, 70*, 80*

    • Reserve positions in the Fund, 2, 25, 26, 27*, 28, 32*, 34, 44, 45

    • Repurchases by members, 28, 37, 40, 42, 43, 44, 45, 46, 47-48, 58-59, 74*, 75*, 76*, 77*, 78*, 80*

    • SDR holdings, 26, 27*, 41, 46, 58, 66-68*

    • Stand-by arrangements for members, 47, 58, 71*, 72*, 73*, 75*, 79†

    • Transactions in SDRs, 26, 40, 42, 43, 44, 46, 58, 65*, 66-68*, 69*, 70*, 71*, 76*, 77*, 83, 84, 85

    International Monetary System

    • Developments, effects on Fund operations, 36-37, 40, 44-45, 87-89

    • Executive Board meeting with Deputies of Group of Ten, 38, 52

    • Reform of, 1, 4-5, 36, 37, 92-93

    • See alsoIndex B

    International Organizations

    • Fund relations with, 51-53

    • Meetings on aid and debt servicing, 52

    Managing Director

    • Addresses, etc., 51, 52

    Membership, 53

    Organization and Administration

    • Audit Committee, 103, 110

    • Budget, 60, 99-101

    • Financial statements, 60, 102-109

    • Staff, 53

    • Staff Retirement Fund, 110-111

    • Staff studies, 21, 52

    Par Values of Members

    • Article IV, Section 4(a), accord with, 85

    • Changes, 1, 2, 18, 36, 38, 39, 40,45, 46

    • Established, 39, 57

    • List of, 61-64*

    • See also Central Rates of Membersand Exchange Rates of Members

    Publications

    • List of, 82*

    Quotas of Members

    • Increases in, 25, 48, 53, 57, 65*, 80*

    Services to Members

    • Balance of Payments Division, 50

    • Bureau of Statistics, 51

    • Central Banking Service, 50-51

    • Fiscal Affairs Department, 50, 51

    • Ghanaian study, 52

    • IMF Institute, 50

    • Technical assistance and training, 37, 50

    Special Drawing Account

    • Balance Sheet, 108-109

    • Designation procedures, 41-43

    • Participants, 44*, 53, 66-68*

    • Special drawing rights (SDRs)

    • Accounting unit, 25, 37, 57, 90-91

      • Allocations, 13, 15*, 17, 18*, 19, 20, 21, 25, 26, 27*, 28, 30, 31, 40, 41, 43, 44, 53, 57-58, 66-68*, 84

      • Currencies transferred for SDRs, 69*

      • Holdings by General Account, 26, 27*, 41, 46, 58, 66-68*

      • Holdings by participants, 43, 44*, 66-68*

      • Per cent of international reserves, 26*, 28, 32*

      • Receipts and uses by participants, 29*, 40-41, 43, 44*

      • Requirement of need, 39, 41, 42-43

      • Transfers between participants, 39, 41-42, 58, 65*, 66-68*, 87-88

      • Transfers to and from General Account

      • Distribution of net income, 49, 58, 65*, 70*, 83

        • Interest, charges, and assessments, 42, 43, 49, 65*, 66-68*

        • Purchases, 43, 44, 58, 71*, 77*, 84

        • Reconstitution of participants’ holdings, 40, 43, 46, 58, 65*, 70*, 84-85

        • Remuneration, use in, 49(fn),58, 65*, 70*

        • Replenishment of currencies, 58, 65*, 70*

        • Repurchases, use in, 40, 42, 43, 44, 76*, 77*

        • Restoration of participants’ positions, 43, 58, 65*, 70*

      • Transfers, summary of, 41, 57-58, 66-68*

      • Unit of value, 2, 37, 40, 57

    • Summary of participants’ positions, 44, 66-68*

    Wider Margins for Exchange Rates

    • Intervention, 3, 85-87

    • Use of by members, 3, 4, 39, 45, 61-64*, 85-87

    Index B. Countries, Organizations, and Subjects

    An asterisk (*) denotes a table,-a dagger (t) denotes a chart

    Afghanistan

    • Exchange rate, 61*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

    Algeria

    • Balance of payments, 21

    • Exchange rate, 61*

    • IMF

      • Special drawing rights, 66*

    Argentina

    • Exchange rate, 61*

    • IMF

      • Purchase, 46, 71*, 74*

      • Special drawing rights, 41, 43, 66*, 70*

    Australia

    • Balance of payments, 17-18, 31*

    • Capital movements, 17-18, 31*

    • Exchange rate, 61*

    • IMF

    • Special drawing rights, 66*

    • International reserves, 18, 31*

    • Prices, 6

    Austria

    • Exchange rate, 34, 38, 61*

    • IMF

      • Currency use by, 45

      • Par value changed, 38

      • Quota increase, 65*

      • Special drawing rights, 66*

    • International reserves, 34

    Bahrain

    • IMF

    • Membership application, 53

    Balance of Payments

    • Adjustment process, 21-24

    • Financing, 29-30, 34

    • Impact of currency realignment, 17, 21-23

    • Industrial countries, 13, 14-17, 18*,21-22, 23

    • Primary producing countries, 5, 11,17, 18*, 19-21, 22, 23

    • World summary, 18*, 30-31

    • See also individual countries

    Bangladesh

    • IMF

    • Membership application, 53

    Bank for International Settlements (BIS), 26, 52 Barbados

    • Exchange rate, 57, 61*

    • IMF

    • Par value established, 57

    • Special drawing rights, 66*

    Belgium

    • Capital movements, 34

    • Exchange rate, 2, 34, 38*, 61*

    • IMF

      • General Arrangements to Borrow, 80*

      • Special drawing rights, 41, 66*

    Belgium-Luxembourg

    • Exchange market, 38

    Bolivia

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 66*

    Botswana

    • Exchange rate, 61*

    • IMF

      • Par value changed, 61*

      • Special drawing rights, 66*

    Brazil

    • Balance of payments, 20

    • Capital inflows, 20

    • Exchange rate, 20, 61*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*

      • Special drawing rights, 66*, 70*

      • Stand-by arrangement, 72*

    Burma

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

    Burundi

    • Exchange rate, 61*

    • IMF

      • Purchase, 74*, 75*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

      • Stand-by arrangement, 72*, 75*

    Cameroon

    • Exchange rate, 61*

    • IMF

      • Special drawing rights, 66*

    Canada

    • Balance of payments, 15*, 31*, 57

    • Capital movements, 15*, 31*

    • Economic prospects, 7

    • Exchange rate, 2, 34, 38*, 45, 61*

    • Foreign trade, 9*, 11, 15*

    • Gross national product, 5, 6

    • IMF

      • Currency use by, 45

      • General Arrangements to Borrow, 80*

      • Special drawing rights, 15*, 32*, 41, 66*, 70*

      • International reserves, 15*, 31*,32*, 34

      • Prices, 7*, 8

    Capital Movements

    • Impact of currency realignment, 16

    • Impact on reserves and domestic credit policies, 2, 30, 33, 34

    • Interest rate differentials and speculative flows, 1, 2, 3, 16, 33

    • Measures to influence, 1, 2, 16, 34

    • Wider margins for exchange rates, effects of, 4

    • See also Euro-Crrency Marketand individual countries

    Central African Republic

    • Exchange rate, 61*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 66*

    Ceylon

    • Exchange rate, 61*

    • IMF

      • Purchase, 33, 71*, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 43, 66*, 70*

      • Stand-by arrangement, 72*

    Chad

    • Exchange rate, 61 *

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 66*

    Chill

    • Debt rescheduling, 52

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*, 74*

      • Repurchase, 75*

      • Special drawing rights, 66*

    China, Republic of

    • Exchange rate, 61*

    • IMF

      • Par value changed, 61*

      • Purchase, 46, 71 *

      • Special drawing rights, 58(fn)

    Colombia

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*, 74*, 75*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

      • Stand-by arrangement, 72*. 75*

    Commodities, Primary

    • Exports and prices, 4, 11-12,13†, 20, 21

    Congo, People’s Republic of the.

    • Exchange rate, 61* IMF

      • Repurchase, 75*

      • Special drawing rights, 66*

    Costa Rica

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 43, 66*, 70*

    Cyprus

    • Exchange rate, 61*

    • IMF

      • Special drawing rights, 66*

    Dahomey

    • Exchange rate, 61*

    • IMF

      • Special drawing rights, 66*

    Denmark

    • EEC, exchange rate margin agreement, 4(fn)

    • Exchange rate, 61*

    • IMF

      • Repurchase, 75*, 76*

      • Special drawing rights, 44, 66*

    Dominican Republic

    • Exchange rate, 61*

    • IMF

      • Par value changed, 61*

      • Purchase, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

    Ecuador

    • Exchange rate, 61*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*, 75*, 76*

    Ecuador—continued

      • Special drawing rights, 66*

      • Stand-by arrangement. 72*

    Egypt

    • Exchange rate, 61*

    • IMF

      • Purchase, 71*, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 66*

    El Salvador

    • Exchange rate, 61*

    • IMF

      • Par value changed, 61*

      • Purchase, 74*, 75*

      • Repurchase, 74*, 75*, 76*

      • Special drawing rights, 66*

      • Stand-by arrangement, 72*, 75*

    Equatorial Guinea

    • Exchange rate, 61*

    • IMF

      • Special drawing rights, 66*

      Ethiopia

      • Exchange rate, 62*

    Euro-Currency Market, 16, 29, 30*. 31

    • See also Capital Movements European Economic Community (EEC), 4, 52

    Exchange Markets

    • Operations, 2, 3, 4

    Exchange Rates

    • Developments, 1-5

    • Impact of realignment on

      • Adjustment process, 17, 21-23

      • Capital movements, 4, 16

      • International reserves, 25, 33, 34

    • Wider margins, 4, 33; see alsoIndex A

    Fiji

    • Exchange rate, 62*

    • IMF

      • Special drawing rights, 66*

    Finland

    • Balance of payments, 19

    • Exchange rate, 62*

    • Exports, 19

    • IMF

      • Special drawing rights, 66*, 70*

      • Prices, 6

    Food and Agriculture Organization, 52

    France

    • Balance of payments, 14, 15*, 31*

    • Bank discount rate, 17

    • Capital movements, 14, 15*, 31*, 34

    • Exchange rate, 34, 38*, 45, 62*

    • Foreign trade balance, 15*

    • Gross national product, 5*

    • IMF

      • Currency use by, 45

      • General Arrangements to Borrow, 80*

      • Repurchase, 28, 44, 46, 47, 59, 75*, 76*, 77*

      • Special drawing rights, 15*, 32*, 66*

    • International reserves, 15*, 31*, 32*

    • Prices, 7*

    Gabon

    • Exchange rate, 62*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 66*

    Gambia, The

    • Exchange rate, 57, 62*

    • IMF

      • Par value for new monetary unit, 57

      • Repurchase, 75*

      • Special drawing rights, 66*

    • Monetary unit, new, 57

    General Agreement on Tariffs and Trade, 52

    Germany, Federal Republic of

    • Balance of payments, 1, 14, 15*,22, 31*

    • Bank discount rate, 17

    • Capital movements, 14, 15*, 31*

    • Exchange rate, 1, 2, 14, 16, 34, 37-38, 45, 62*

    • Foreign trade, 9*, 14, 15*

    • Gross national product, 5*

    • IMF

      • Currency use by, 45

      • General Arrangements to Borrow, 80*

      • Special drawing rights, 15*, 32*, 66*, 70*

      • International reserves, 14, 15*, 31*,32*, 33, 34

      • Official claims in deutsche mark, 28-29

      • Prices, 7*

    Ghana

    • Debt rescheduling, 52

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Purchase, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 67*

      • Study on payments arrangements and trade expansion, 52

    Gold

    • Absorption by private holders, industry, and arts, 3

    • BIS country holdings, 26 Holdings, 25, 26, 27*, 28, 32*

    • Price, 3

    • Production, 3

    • See also Index A, General Account

    Greece

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Special drawing rights, 67*

    Group of Ten, 38, 52

    Group of Twenty-Four, 52

    Guatemala

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Purchase, 74*

      • Repurchase, 74*, 75*, 76*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Guinea

    • Exchange rate, 62*

    • IMF

      • Special drawing rights, 67*

    Guyana

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Purchase, 32, 71*

      • Repurchase. 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Haiti

    • Exchange rate, 62*

    • IMF

      • Par value changed. 62*

      • Purchase, 74*

      • Repurchase, 74*. 75*

      • Special drawing rights, 67*

      • Stand-by arrangement. 72*

    Honduras

    • Exchange rate. 62*

    • IMF

      • Par value changed, 62*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Iceland

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Purchase, 74*

      • Repurchase. 74*

      • Special drawing rights, 67*

    Incomes Policy. 7, 8

    India

    • Aid Consortium, 52

    • Balance of payments, 21

    • Exchange rate, 62*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*

      • Special drawing rights, 67*

    Indonesia

    • Exchange rate, 62*

    • Inter-Governmental Group on Aid, 52

    • IMF

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 43, 67*, 70*

      • Stand-by arrangement, 72*

    Industrial Countries

    • Balance of payments, 13. 14-17,18*, 21-22, 23

    • Capital movements, 15, 16, 17, 18*

    • Classification, 5*(fn)

    • Economic policies, 1, 8, 10, 21, 23, 24

    • Economic situation and prospects. 1, 4, 7-8, 10, 14

    • Foreign trade, 9*, 10, 11, 22

    • Gross national product, 5, 6, 7

    • Industrial production, 12,13†

    • Interest rates, 17, 24

    • IMF

      • Purchases, 79†

      • Special drawing rights, 18*, 32*, 44

      • Stand-by arrangements. 79†

    • International reserves. 14, 16, 18*,30*, 31, 32*

    • Prices, 4, 6, 7, 8, 34

    • Wages, 8

    • Western Europe, 5, 7, 9*, 10, 32*

    Interest Rates

    • See Capital Movements, Euro-Currency Market,and individual countries

    International Bank for Reconstruction and Development, 51, 52

    International Coffee Organization, 53

    International Monetary System

    • Convertibility of U.S. dollar, suspension of, 1-2, 16, 34, 36, 38, 40

    • Developments, 1-5

    • Meetings on, 52

    • Reform of, 1, 2, 3, 4

    • Smithsonian Agreement, 2-3, 38

    • See alsoIndex A

    International Reserves

    • Accounting unit, 25

    • Adequacy, 31-35

    • Capital movements, effects of. 2,30, 33, 34

    • Components

    • Foreign exchange, 2, 3, 22, 25,26*, 27*, 28, 32*; see also Euro-market holdings

    • Gold, 25, 26, 27*, 28, 32*

    • Reserve positions in the Fund, 2, 26*, 27*, 28, 32*, 34,44,45

    • Special drawing rights, 25, 26*, 27*, 28, 30, 32*; see alsoIndex A, Special Drawing Account

    • Developments, 25-32

    • Euro-market holdings, 16, 29. 30*, 31

    • Impact of

    • Currency realignment, 25, 29, 30, 33

    • U.S. balance of payments deficit, 28

    • Industrial countries, 14, 16, 18*, 30*, 31, 32*

    • Measurement, 25(fn) Pattern of distribution, 2, 29-31, 33

    • Policy issues, 34-35

    • Primary producing countries, 13,16, 18*, 22, 23, 30*, 31, 32*

    • Ratio of reserves to imports, 33

    • Sources of reserve growth, 27*, 30,31*

    • Summary, 26*, 28†

    International Tin Council, 47, 52-53

    Iran

    • Balance of payments, 21

    • Exchange rate, 62*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Iraq

    • Balance of payments, 21

    • Exchange rate, 62*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*

      • Special drawing rights, 67*

    Ireland

    • EEC, exchange rate margin agreement, 4(fn)

    • Exchange rate, 62*

    • IMF

      • Special drawing rights, 67*

    Israel

    • Capital inflows, 21

    • Exchange rate, 38, 62*

    • IMF

      • Par value changed, 38, 62*

      • Special drawing rights, 67*, 70*

    Italy

    • Balance of payments, 14, 15*, 17, 31*

    • Bank discount rate, 17

    • Capital movements, 15*, 31*

    • Exchange rate, 38*, 62*

    • Foreign trade balance, 15*

    • Gross national product, 5*, 6

    • IMF

      • Borrowing by, 46, 80*

      • Currency use by, 45

      • Special drawing rights, 15*, 32*, 67*,70*

    • International reserves. 15*, 31*,

    • 32* Prices, 7*

    Ivory Coast

    • Exchange rate, 62*

    • IMF

      • Special drawing rights, 67*

    Jamaica

    • Exchange rate, 62*

    • IMF

      • Repurchase, 75*, 76*

      • Special drawing rights, 67*

    Japan

    • Balance of payments, 1, 14, 15*,17, 22, 30, 31*

    • Capital movements, 14, 15*, 30,31*

    • Exchange rate, 2, 38*, 62*

    • Foreign trade

    • Balance, 14, 15*

    • Value and volume, 9*, 10, 11

    • Gross national product, 5, 7

    • IMF

      • Borrowing by, 46, 80*

      • Currency use by, 45

      • Special drawing rights, 15*, 32*, 67*, 70*

    • International reserves, 14, 15*, 30,31*, 32*, 33

    • Prices, 7*

    Jordan

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Purchase, 71*, 74*

      • Special drawing rights, 67*

    Kenya

    • Exchange rate, 62*

    • IMF

      • Par value changed, 62*

      • Special drawing rights, 67*

    Khmer Republic

    • Debt rescheduling, 52

    • Exchange rate, 62*

    • Exchange support program, 52

    • IMF

      • Purchase, 46, 71*, 74*

      • Special drawing rights, 67*

    Korea

    • Exchange rate, 62*

    • IMF

      • Purchase, 71*

      • Quota increase, 65*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Kuwait

    • Exchange rate, 62*

    • IMF

      • Quota, 53

    Laos

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 67*

    Lebanon

    • Balance of payments, 21

    • Exchange rate, 63*

    • IMF

      • Quota, 53

    Lesotho

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Repurchase, 75*

      • Special drawing rights, 67*

    Liberia

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Purchase, 71*, 75*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*, 75*

    Libyan Arab Republic

    • Balance of payments, 21, 31*

    • Capital movements, 31*

    • Exchange rate, 63*

    • IMF

      • Quota, 53

      • International reserves, 31*

      • Monetary unit, new, 57

    Luxembourg

    • Exchange rate, 63*

    • IMF

      • Quota, 53, 65*

      • Repurchase, 75*, 76*

      • Special drawing rights, 67*

    • See also Belgium-Luxembourg

    Malagasy Republic

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 67*

    Malawi

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Malaysia

    • Exchange rate, 63*

    • IMF

      • Purchase, 46, 71*

      • Special drawing rights, 67*, 70*

    Mali

    • Exchange rate, 63*

    • IMF

      • Purchase, 71*, 75*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*, 75*

    Malta

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 67*

    Mauritania

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Mauritius

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Mexico

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Special drawing rights, 67*, 70*

    Morocco

    • Exchange rate, 63*

    • IMF

      • Purchase, 71*, 75*

      • Repurchase, 75*, 76*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*, 75*

    Nepal

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Quota, 53 (fn), 57, 65*

      • Repurchase, 75*, 76*

      • Special drawing rights, 67*

    Netherlands

    • Exchange rate, 2, 34, 38, 45, 63*

    • IMF

      • General Arrangements to Borrow, 80*

      • Special drawing rights, 41, 67*

      • International reserves, 34

    New Zealand

    • Exchange rate, 63*

    • IMF

      • Purchase, 74*

      • Repurchase, 74*

      • Special drawing rights, 67

      • Prices, 50

    Nicaragua

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Purchase, 71*

      • Repurchase, 76*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Niger

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Nigeria

    • Balance of payments, 21

    • Exchange rate, 63*

    • IMF

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 67*

    Norway

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 67*

    Oman

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 67*

    Organization for Economic Cooperation and Development, 52

    Organization of American States,52

    Pakistan

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Repurchase, 75*

      • Special drawing rights, 67*

    Panama

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Purchase, 75*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*, 75*

    Paraguay

    • Exchange rate, 63

    • IMF

      • Special drawing rights, 67*

    Peru

    • Debt rescheduling, 52

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*, 76*

      • Special drawing rights, 67*

    Petroleum

    • Exports and prices, 10, 11, 20

    • See also Commodities, Primary,andPrimary Producing Countries—Less Developed

    Philippines

    • Exports and prices, 10, 11, 20

    • Exchange rate, 63*

    • IMF

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 72*

    Portugal

    • Exchange rate, 63*

    • IMF

      • Quota increase, 65*

    Primary Producing Countries

    • Balance of payments, 17, 18*, 21,22, 23

    • Capital movements, 18*

    • Consumer prices, 6

    • Debt and debt servicing, 22-23

    • Euro-currency holdings, 16, 30*

    • Exchange rates, 23

    • Foreign trade

      • Exports, 4, 11, 12, 13, 23, 24

      • Imports, 4

      • Prospects, 23

      • Value and volume, 12, 13

    • Gross national product, 5-6

    • IMF

      • Purchases, 47

      • Special drawing rights, 17, 18*

      • Stand-by arrangements, 47

    • International reserves, 16, 18*, 22,23, 30*

    • See also Primary Producing Countries—Less Developed, Primary Producing Countries—More Developed,andindividual countries

    Primary Producing Countries—Less Developed

    • Africa

      • Balance of payments, 17, 18*,19, 20, 21

      • Capital inflows, 18*, 20, 21

      • Economic growth, 5

      • Export prices, 11, 20

      • IMF

        • Special drawing rights, 18*, 21, 32*

      • International reserves, 18*, 21, 31, 32*

    • Asia

      • Balance of payments, 18*, 20, 21

      • Capital inflows, 18*, 20, 21 Economic growth, 5

      • IMF

        • Special drawing rights, 18*, 20, 32*

      • International reserves, 18*, 31, 32*

    • Balance of payments, 17, 18*, 19-21

    • Capital inflows, 18*, 19

    • Classification, 5*(fn)

    • Exchange rates, 3

    • Foreign trade

      • Balance, 12, 19

      • Cyclical fluctuations, 12

      • Exports, 11, 12,13†, 20

      • Imports, 10

      • Prospects, 12

      • Terms of trade, 12

      • Value and volume, 9*,13†

    • Gross national product, 5-6

    • IMF

      • Special drawing rights, 13, 18*, 19, 20, 32*, 44

    • International reserves, 13, 18*, 30*,31,32*

    • Middle East

      • Balance of payments, 18*, 19-20, 21

      • Capital inflows, 18*, 19-20

      • Economic growth, 5

      • Foreign trade Balance, 12

        • Export proceeds, 11, 20, 21

      • IMF

        • Special drawing rights, 18*, 32*

      • International reserves, 18*, 31, 32*

    • Petroleum producers

      • Balance of payments, 19, 20

      • Foreign trade, 9*, 11, 12

      • IMF

        • Special drawing rights, 32*

      • International reserves, 31, 32*

    • Western Hemisphere

      • Balance of payments, 18*, 20

      • Capital inflows, 18*, 20

      • Economic growth, 5

      • Economic policies, 20

      • Foreign trade, 20

      • IMF

        • Special drawing rights, 18*, 20, 32*

        • International reserves, 18*, 31, 32*

      • See alsoindividual countries

    Primary Producing Countries—More Developed

    • Balance of payments, 17, 18*, 19

    • Capital inflows, 17, 18*, 19

    • Classification, 5*(fn)

    • Economic activity, 6

    • European group, 11, 18

    • Foreign trade, 9*, 10, 11

    • Gross national product, 5, 6

    • IMF

      • Special drawing rights, 18*, 32*, 44*

    • International reserves, 17, 18*, 30*,31,32*

    • Prices, 6

    • Southern Hemisphere group, 11, 17, 32*

    • See also individual countries

    Production

    • World output, 51

    Qatar

    • IMF

      • Membership application, 53

    Rwanda

    • Exchange rate, 63*

    • IMF

      • Purchase, 75*

      • Repurchase, 75*

      • Special drawing rights, 67*

      • Stand-by arrangement, 75*

    Saudi Arabia

    • Balance of payments, 21, 31 *

    • Exchange rate, 63*

    • International reserves, 31 *

    Senegal

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 67*

    Sierra Leone

    • Exchange rate, 63*

    • IMF

      • Special drawing rights, 68*

    Singapore

    • Balance of payments, 21

    • Exchange rate, 63 *

    • IMF

      • Quota, 53, 65*

    Somalia

    • Exchange rate, 63*

    • IMF

      • Repurchase, 75*

      • Special drawing rights, 68*

    South Africa

    • Balance of payments, 3, 18

    • Exchange rate, 18, 63*

    • Import restrictions, 18

    • IMF

      • Gold sales to, 31, 48

      • Par value, 18, 63*

      • Quota, 65*

      • Special drawing rights, 41, 68*

      • International reserves, 18

    Spain

    • Balance of payments, 19, 31*

    • Capital movements, 31 *

    • Exchange rate, 63*

    • Foreign trade, 19

    • IMF

      • Special drawing rights, 68*

      • International reserves, 31 *

      • Prices, 6

    Sterling Area, 3, 28

    Sudan

    • Exchange rate, 63*

    • IMF

      • Purchase, 71*, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 43, 68*, 70*

      • Stand-by arrangement, 72*

    Swap Arrangements, 4, 26*, 34

    Swaziland

    • Exchange rate, 63*

    • IMF

      • Par value changed, 63*

      • Repurchase, 75*

      • Special drawing rights, 68*

    Sweden

    • Exchange rate, 38*, 63*

    • IMF

      • General Arrangements to Borrow, 80*

      • Special drawing rights, 68*, 70*

    Switzerland

    • Balance of payments, 31*

    • Capital movements, 31*

    • Exchange rate, 34, 38(fn)

    • International reserves, 31*, 32*, 34

    Syrian Arab Republic

    • Exchange rate, 64*

    • IMF

      • Purchase, 71*, 74*

      • Repurchase, 74*, 75*

      • Special drawing rights, 43, 68*, 70*

    Tanzania

    • Exchange rate, 64*

    • IMF

      • Par value changed, 64*

      • Special drawing rights, 68*

    Thailand

    • Exchange rate, 64*

    • IMF

      • Par value changed, 64*

      • Purchase, 46, 71*

      • Special drawing rights, 68*

    Togo

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    Trinidad and Tobago

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    Tunisia

    • Exchange rate, 64*

    • IMF

      • Quota, 65*

      • Repurchase, 75*, 76*

      • Special drawing rights, 68 *

    Turkey

    • Aid Consortium, 52

    • Balance of payments, 19

    • Exchange rate, 64*

    • Exports, 19

    • IMF

      • Purchase, 71*, 75*

      • Repurchase, 59, 75*, 76*

      • Special drawing rights, 68*, 70*

      • Stand-by arrangement, 72*, 75*

    Uganda

    • Exchange rate, 64*

    • IMF

      • Par value changed, 64*

      • Purchase, 46, 71*

      • Special drawing rights, 68*

      • Stand-by arrangement, 72*

    United Arab Emirates

    • IMF

      • Membership application, 53

    United Kingdom

    • Balance of payments, 14, 15*, 30, 31*

    • Capital movements, 3, 14, 15*, 30, 31*

    • Economic prospects, 6

    • EEC, exchange rate margin agreement, 4(fn)

    • Exchange rate, 3, 4, 16, 24, 34, 39-40, 64*

    • Foreign trade, 9*, 15*

    • Gross domestic product, 5, 6

    • IMF

      • Currency use by, 45

      • General Arrangements to Borrow, 80*

      • Gold deposit closed, 48, 89-90

      • Purchase, 75*, 79†

      • Repurchase, 28, 34, 40, 43, 44, 47, 75*, 77*

      • Special drawing rights, 15*, 32*, 40-41, 42, 43, 44, 46, 68*

      • Stand-by arrangement, 75*, 79†

    • International reserves, 3, 15*, 30, 31*, 32*

    • Official claims in pounds sterling, 28, 30

    • Prices, 7, 8

    United Nations, 51, 52

    United Nations Conference on Trade and Development, 52

    United States

    • Balance of payments, 1, 3, 7, 14,15, 16, 17, 22, 24, 28, 29*

    • Capital movements, 3, 14, 15*, 16, 17, 24

    • Dollar convertibility, suspension of, 1-2, 16, 34, 36, 38, 40

    • Economic situation and prospects, 1, 4, 6, 7, 10, 14, 15, 24

    • Euro-market borrowing, 16

    • Exchange market, 4

    • Exchange rate, 17, 24, 38*

    • Foreign trade

      • Balance, 14, 15*

      • Exports, 11

      • Import demand, 10, 11

      • Import surcharge, 2, 3, 10, 11

      • Prospects, 22

      • Value and volume, 9*, 11

    • Gross national product, 5, 6, 7(fn), 24

    • Incomes policy, 7, 8

    • Interest rates, 16, 17, 24

    • IMF

      • General Arrangements to Borrow, 80*

      • Gold transactions with, 48, 49,80*, 89-90

      • Par value, 2(fn), 38*, 39, 40,45, 46, 64*

      • Purchase, 37(fn), 44, 46, 71*,77*, 79†

      • Special drawing rights, 15*, 28, 29*, 32*, 40, 41, 44, 68*, 70* Stand-by arrangement, 79†

    United Statescontinued

    • International reserves, 15*, 28, 29*, 31, 32*

    • Monetary policy, 14, 15, 16, 24

    • Official claims in dollars, 3, 28

    • Prices and wages, 7

    • Swap arrangement transactions, 4

    Upper Volta

    • Exchange rate, 64*

    • IMF

      • Repurchase, 75*, 76*

      • Special drawing rights, 68*

    Uruguay

    • Exchange rate, 64*

    • IMF

      • Purchase, 71*, 74*, 75*

      • Repurchase, 74*, 75*

      • Special drawing rights, 68*

      • Stand-by arrangement, 72*, 75*

    Venezuela

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*, 70*

    Viet-Nam

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    Western Samoa

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    World Trade

    • Growth, 8, 10

    • Impact of currency realignment, 12

    • Industrial countries, 9*, 10, 11, 22

    • Industrial economies’ effects on, 4

    • Prices, 10

    • Primary producing countries—less developed, 4, 9*, 10, 11, 12,13, 20, 23,24

    • Primary producing countries—more developed, 9*, 10, 11

    • U.S. import surcharge, effects of, 10, 11

    • Value and volume, 8, 9*, 10

    • See alsoindividual countries

    Yemen Arab Republic

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    Yemen, People’s Democratic Republic of

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 68*

    Yugoslavia

    • Balance of payments, 19

    • Exchange rate, 64*

    • IMF

      • Par value changed, 64*

      • Purchase, 71*

      • Repurchase, 75*

      • Special drawing rights, 68*

      • Stand-by arrangement, 72*

    Zaïre

    • Exchange rate, 64*

    • IMF

      • Special drawing rights, 41, 68*

    Zambia

    • Exchange rate, 64*

    • IMF

      • Par value changed, 64*

      • Purchase, 46, 71*, 74*

      • Special drawing rights, 41,68*

    AnnualReport, 1970, pages 177-84.

    Summary Proceedings of the Twenty-Fourth Annual Meeting of the Board of Governors (Wash-ington, 1969), pages 275-99 and 326-27.

    One participant, China, exercised its option not to receive its share of SDRs in each allocation.

    AnnualReport, 1971, page 161.

    Decision adopted May 20, 1970 and reproduced in the AnnualReport, 1971, pages 205-206.

    Annual Report, 1971, page 210.

    Annual Report, 1970, page 175

    Annual Report, 1962, pages 36-41 and 245.

    By-Laws, Rules and Regulations (Thirtieth Issue, Washington, March 20, 1972), page 30.

    Ibid., pages 30-35.

    Summary Proceedings of the Twenty-Fourth Annual Meeting of the Board of Governors (Washington, 1969), pages 326-27.

    Summary Proceedings of the Twenty-Sixth Annual Meeting of the Board of Governors (Washington, 1971), pages 331-32.

    Selected Decisions of the Executive Directors and Selected Documents (Fifth Issue, Washington, July 10, 1971), page 15.

    Reproduced above.

    By-Laws, Rules and Regulations (Thirtieth Issue, Washington, March 20, 1972), pages 50-51.

    Selected Decisions of the Executive Directors and Selected Documents (Fifth Issue, Washington, July 10, 1971), page 15.

    By-Laws, Rules and Regulations (Thirtieth Issue, Washington, March 20, 1972), pages 50-51.

    Annual Report, 1971, pages 205-206.

    Reproduced above.

    Selected Decisions of the Executive Directors and Selected Documents (Fifth Issue, Washington, July 10, 1971), pages 7-10.

    Ibid., pages 144-47.

    Adopted by the Board of Governors as Resolution No. 27-2, effective March 20, 1972.

    By-Laws, Rules and Regulations (Thirtieth Issue, Washington, March 20, 1972), page 40.

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