Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1981
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    Index

    An asterisk (*) denotes a table; a dagger (†) denotes a chart; fn. denotes a footnote.

    Abu Dhabi

    • Oil facility financing, 127*

    • Supplementary financing facility, lending for, 128*

    Afghanistan

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Africa

    • Balance of payments, 18*

    • Debt, 34*

    • Output, 12*, 15

    • Prices, 12*, 16*

    • SDRs, 72

    • Trust Fund disbursements, 103*

    Algeria

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Antigua

    • Application for Fund membership, 89

    Argentina

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Articles of Agreement

    • Article III, 100

    • Article IV, 57, 62, 82, 107

    • Article V, 104

    • Article VIII, 62; members accepting obligations of, 107, 130*

    • Article XIV, 62, 107

    • Article XVII, 92

    • Second Amendment, 62, 82* (fn.)

    Asia

    • Balance of payments, 18*

    • Debt, 34*

    • Economic activity and policies, 15

    • Output, 12*, 15

    • Prices, 12*, 15, 16*

    • SDRs, 72

    • Trust Fund disbursements, 103*

    Australia

    • Balance of payments, 22, 24

    • Enlarged access policy, lending under, 92

    • Exchange rate, 24, 116*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131 *

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    Austria

    • Enlarged access policy, lending under, 92

    • Exchange rate, 28, 116*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    • Supplementary financing facility, lending for, 128*

    Bahamas

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Bahrain

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Balance of Payments

    • Adjustment, 2, 3, 15, 21, 33, 37, 39, 49, 53, 54-56, 58, 78, 79, 80, 84, 102

    • Current account balances, distribution of, 1, 16, 18*, 20*, 21, 24, 28, 29, 40, 49, 50*

    • Domestic economic policies, effect on, 2

    • Effect of: exchange rate changes on, 23, 49, 50-51, 57-58; inflation rate on, 28; oil price changes on, 23, 49

    • Financing, 1, 3, 24, 31†, 32*, 33, 37, 39, 47, 52, 53, 70, 79

    • Global pattern, 18, 20*, 36, 49

    • See also individual countries

    Bangladesh

    • Exchange rate, 116*

    • Extended arrangement with Fund, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131 *

    • SDRs, 98*, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Bank for International Settlements (BIS), 18, 104; borrowing agreement with Fund, 78, 86, 92, 189-90; “other holder” of SDRs, 97

    Barbados

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    Barbuda

    • Application for Fund membership, 89

    Belgium

    • Balance of payments, 24, 28

    • Economic activity and policies, 28

    • Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 28, 116*

    • General Arrangements to Borrow, 127*

    • Interest rates, 28

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    • Supplementary financing facility, lending for, 128*

    • Supplementary financing facility subsidy account, contribution to, 106

    Benin

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    • Trust Fund disbursements, 104*

    Bhutan

    • Application for Fund membership, 89

    Board of Governors

    • Quota adjustments authorized, 89-90

    • Quota increase resolution adopted, 89

    • Vanuatu, membership resolution adopted, 89

    • See also Development Committeeand Interim Committee

    Bolivia

    • Exchange rate, 116*

    • Purchases from Fund, 122*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Borrowed Resources Suspense Accounts, 92-93, 168-69

    Botswana

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Brazil

    • Exchange rate, 116*

    • Oil facility subsidy account, contribution to, 102*

    • Oil price increase, effect of, 55

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Budget of Fund, 219

    Buffer Stock Financing Facility, 85; charges, 129*; purchases by members, 82*, 83*, 85

    Burma

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 99*, 134*, 136*

    • Trust Fund disbursements, 104*

    Burundi

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    • Trust Fund disbursements, 104*

    Cameroon

    • Exchange rate, 116*

    • Oil facility subsidy account, use of, 101

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 136*

    • Trust Fund disbursements, 104*

    Canada

    • Balance of payments, 21, 22*, 23, 24, 49, 50, 51

    • Economic activity and policies, 4, l0†, 50*

    • Enlarged access policy, lending under, 92

    • Exchange rate, 24, 25†, 28, 42*, 43†, 45, 46†, 48†, 50, 116* •

    • General Arrangements to Borrow, 127*

    • GNP deflator, 8

    • Interest rates, 3†, 4, 27†, 43†, 44†, 45, 46†

    • International reserves, 48†

    • Monetary growth, 4, 5†, 45*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Oil production, 23

    • Output, 8*, 9, 10†, 51

    • Prices, 6†, 8, 23, 27†

    • Quota increase, 131 *

    • Ratio of official reserves to exports, 48†

    • SDRs, 98*, 99, 134*, 136*

    • Supplementary financing facility, lending for, 128*

    • Trade, 23

    Cape Verde

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Capital Markets

    • Borrowing in, 14, 31, 34, 52, 55, 74, 75, 77, 78

    • Recycling, role in, 2, 40, 73

    Central African Republic

    • Exchange rate, 116*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Chad

    • Exchange rate, 116*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 98*, 134*, 136*

    • Trust Fund disbursements, 104*

    Chile

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 99*, 134*, 136*

    China, People’s Republic of

    • Exchange rate, 116*

    • Output, 13, 14

    • Prices, 15

    • Purchases from Fund, 83, 122*

    • Quota adjustment, 78, 89

    • Quota increase, 131* SDRs, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 83, 120*

    • Trust Fund, 103, 104*, 146

    Colombia

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Comoros

    • Exchange rate, 116*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131 *

    • SDRs, 99*, 134*, 136*

    Compensatory Financing Facility

    • Charges, 129*

    • Purchases and repurchases by members, 79, 82*, 83

    • Compensatory Financing of Export Fluctuations, 84, 122*-123*

    • Compensatory Financing of Fluctuations in Cereal Import Costs

    • Establishment, 81, 84, 169-72

    • Members eligible for assistance, 84-85, 169-71

    • Purchases and repurchases by members, 84-85, 169-72

    • Terms and conditions, 84-85

    Conditionality, 3, 78, 79

    Congo

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 136*

    • Trust Fund disbursements, 104*

    Consultations with Fund Members, 39, 62, 82, 107

    Costa Rica

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    Cyprus

    • Exchange rate, 116*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    • Stand-by arrangement with Fund, 83, 120*

    Denmark

    • Balance of payments, 24, 28

    • Economic activity and policies, 28

    • Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 28, 116*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Developing Countries

    • Balance of payments, 37, 39

    • Economic activity and policies, 39, 54, 60

    • Effect of interest rates in industrial countries on, 52-53

    • Exchange arrangements, 53-54

    • Exchange rates, 39, 42*, 53-54, 60

    • Extended arrangements with Fund, 84

    • Gold sales by Fund: distribution of profits to, 79

    • Output, 14, 39, 56

    • Purchases from Fund, 82, 83

    • Trade, 60-61

    • See also individual countries

    Non-Oil Developing Countries

    • Balance of payments, 1, 14, 15, 16, 17, 18*, 20*, 21, 29, 30, 31, 32-33, 34, 38, 39, 40, 52, 53, 55, 73

    • Borrowing from private banks, 14, 18, 21, 31, 32-33, 34, 52, 53, 73, 74

    • Capital flows, 14, 29, 31, 32*, 33, 38, 53, 56

    • Capital markets, access to, 75

    • Debt and debt service payments, 14, 21, 30, 31, 32, 33-36, 38, 52, 53, 64, 74

    • Economic activity and policies, 2, 14, 15, 31, 34, 52, 55, 56

    • Effect of: economic slowdown in industrial countries on, 2, 14, 21, 30, 38, 39, 52, 55-56; interest rates in industrial countries on, 52-53, 74; oil price increases on, 30, 55-56, 74

    • Energy problems, economic impact of, 37-38, 39, 55

    • Exchange arrangements, 54*

    • Exchange rates, 40, 52, 55, 56

    • Foreign exchange holdings, 65*

    • Gold holdings, 65*

    • International banking, 19*

    • International investments, 33

    • International reserves, 18, 32-33, 34, 53, 64, 65*, 75

    • Monetary growth, 14

    • Net oil importers: borrowing from private lenders, 31†; capital flows, 31†; international reserves, 31†;official financing, use of, 31†

    • Official financing, use of, 2, 29, 31, 32*, 33, 34, 39, 52, 55

    • Output, 12*, 13, 14, 15, 31, 38, 39, 55, 56

    • Prices, 12*, 13, 15, 16*, 34, 53, 55

    • Purchases from Fund, 79

    • Ratio of: debt to exports, 34, 35†, 74; debt to output, 34, 35†, 74; non-gold reserves to imports, 75, 76†

    • Reserve positions in Fund, 65*, 72

    • SDRs, 65*, 70

    • Subgroups, 12*, 13-15, 16*, 20*, 29-36, 30*, 31†, 34*, 35†, 38-39

    • Trade, 1, 2, 14, 15, 16, 17*, 30, 31, 32, 34, 38, 39, 52, 55, 56, 64

    • Wages, 38

    Oil Exporting Countries

    • Balance of payments, 18*, 20*, 28, 29, 56-57, 73, 75

    • Capital flows, 2, 29, 53, 73-74

    • Claims on Fund and World Bank, 29

    • Deposits in private banks, 2, 18, 29, 53, 73

    • Development assistance, 29

    • Economic activity and policies, 12, 13, 28, 29, 37-38, 53, 56-57, 61

    • Effect of interest rates in industrial countries on, 53

    • Exchange arrangements, 54*

    • Exchange rates, 40, 53, 56-57, 61

    • Foreign exchange holdings, 65*

    • Gold holdings, 65*

    • International banking, 19*

    • International reserves, 64, 65*, 75

    • Investments of, 2, 13, 18, 29, 53, 56-57

    • Oil: pricing, 12, 13, 28, 56-57, 73;production, 56; revenues, 13, 18, 28, 56, 73

    • Output, 12, 13, 28, 53

    • Prices, 12, 13, 16*, 56-57

    • Ratio of non-gold reserves to imports, 75, 76†

    • Recycling, 18

    • Reserve positions in Fund, 65*, 72

    • SDRs, 65*, 70

    • Trade, 11, 13, 16, 17, 28, 29

    • See also Organization of Petroleum Exporting Countries

    Development Committee

    • Announcement, 206

    • Communiqués, 204-209

    Djibouti

    • Article VIII obligations, acceptance of, 107

    • Exchange rate, 116*

    • Quota increase, 131 *

    • SDRs, 98*, 134*, 136*

    Dominica

    • Exchange rate, 116*

    • Extended arrangement with Fund, 86*, 126*

    • Purchases from Fund, 122*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 136*

    • Supplementary financing facility, use of, 86*

    Dominican Republic

    • Exchange rate, 116*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    Ecuador

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    Egypt

    • Exchange rate, 116*

    • Extended arrangement with Fund, 126*

    • Oil facility subsidy account, use of, 101

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    • Trust Fund disbursements, 104*

    El Salvador

    • Exchange rate, 116*

    • Purchases from Fund, 122*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 83, 120*

    • Trust Fund disbursements, 104*

    Enlarged Access Policy, 85-88

    • Borrowing by Fund, 78, 81, 85-86, 88-89, 90, 91-92, 172-89, 189-90, 191-96

    • Charges, 93, 129*

    • Establishment, 39, 78, 79, 85-86, 153-55

    • Extended arrangement, form of, 158-61

    • Extended arrangements, use with, 79, 86-87

    • Interest rate payable by Fund, 91

    • Maximum access, 2, 78, 80, 87

    • Members eligible for assistance, 85-87, 153-55

    • Purchases by members, 86

    • Repayments by Fund, 91

    • Repurchases by members, 87

    • Stand-by arrangement, form of, 156-58

    • Stand-by arrangements, use with, 79, 86-87

    • Terms and conditions, 86-88

    • Transferability of claims, 91

    • See also individual countries

    Equatorial Guinea

    • Exchange rate, 116*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 136*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Ethiopia

    • Exchange rate, 116*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    • Trust Fund disbursements, 104*

    Euromarkets

    • Eurocurrency deposits, 72, 73*

    • Group of Ten agreement of 1971, 72

    • Recycling, role in, 64, 72

    • SDR deposit market, 72

    Europe

    • Balance of payments, 18*, 24

    • Debt, 34*

    • Economic activity and policies, 6, 15, 19, 26

    • Exchange rates, 6, 20, 24, 26, 28

    • Interest rates, 19, 26, 28

    • Output, 8*, 9, 12*, 15

    • Prices, 8*, 12*, 15, 16*, 20

    • SDRs, 72

    • Trade, 21

    • Trust Fund disbursements, 103*

    • Wages, 20

    European Currency Unit (ECU), 40, 41, 64-66, 68, 72, 73*

    European Monetary System (EMS)

    • Dollar deposits by members, 65-66, 68, 72

    • Establishment, 45, 47, 66

    • ECU holdings, 68

    • European Monetary Cooperation Fund, 64, 65, 66, 68, 72

    • Exchange rates, 24, 28, 41, 45, 59, 116*-119*

    • Gold deposits by members, 64, 66, 68, 72

    • Gold holdings of members, 65* (fn.)

    • Interest rates, 45

    • Intervention policy, 45

    • Participants, 119* (fn.)

    • Policy coordination within, 45

    Exchange Markets

    • Conditions in, 1, 19, 24, 26, 28, 41, 59, 78

    • Forward markets, 49, 54, 72

    • Official intervention in, 24, 41, 47, 57, 58-59, 68, 72 (fn.), 77

    Exchange Rates

    • Arrangements, 40, 53-54, 62; of member countries, 54*, 63*; as of June 30, 1981, 116*-119*

    • Balance of payments, effect on, 41, 49, 50, 51

    • Effect of: balance of payments on, 24, 41, 42, 45, 51, 52, 57; capital movements on, 59; domestic economic policies on, 26; exchange and trade restrictions on, 58, 59; inflation rates on, 24, 26, 42; interest rates on, 24, 26, 42; price changes on, 52

    • Effective rates, 1, 24, 25†, 28, 41, 42*, 49, 50*, 51, 53, 55, 57, 61

    • European Monetary System, 41, 116*-119*

    • Inflationary expectations, effect on, 42

    • Investment, effect on, 56, 57

    • Monthly changes in, January 1978-June 1981, 48†

    • Multilateral exchange rate model (MERM), 25† (fn.), 48† (fn.)

    • Multiple currency practices, Fund policy, 161-62

    • Policies, 19, 39, 40, 41, 59-61, 62

    • Prices, effect on, 1, 50, 54, 57

    • SDR as currency peg, 98, 116*-119*

    • Trade, effect on, 49, 50, 51, 54, 57

    • U.S. dollar rates, 25†, 26, 41, 42*, 45

    • Valuation of SDR, 95, 144

    • Variability, 1, 9, 16, 24, 40, 41, 42, 43†, 45, 46†, 53-54

    • Wages, effect on, 1

    • See also individual countries

    Executive Board

    • Allocations of SDRs for fourth basic period, discussions on, 77, 98

    • Article IV consultations, role in, 62, 107

    • Bank for International Settlements borrowing agreement, 86

    • Borrowed resources suspense accounts, decision to adopt, 92

    • Charges, decision to simplify structure of, 81, 93-94

    • Compensatory financing of fluctuations in cereal import costs, decision on, 81, 84-85

    • Eighth General Review, preparatory work on, 90 Enlarged access policy: adoption of, 85-86; guidelines for, 87; periodical reviews of, 87-88

    • Extended Fund facility, review of, 84

    • Interest rate on SDR and rate of remuneration, decisions on, 93-94, 96

    • List of Executive Directors and voting power, 210-12

    • Membership changes, 213-18

    • Oil facility subsidy account, decision establishing, 101

    • “Other holders” of SDRs prescribed, 97

    • Quota adjustments, review of, 89

    • Quota increase request by Iran, consideration of, 89

    • Reconstitution, abrogation of, 96

    • Repurchase, guidelines for, 88

    • Rescheduling of repurchases, agreements to, 88

    • Reserve tranche treatment, decision on, 83

    • Sales of SDRs by Fund for quota increase payments, 100

    • Saudi Arabian Monetary Agency borrowing agreement, 86

    • SDR valuation, decision to simplify structure of, 95

    • Supplementary financing facility subsidy account, establishment of, 105

    • Surveillance over exchange rate policies, review of, 61-62, 107

    • Transferability of oil facility claims, decision on, 90-91

    • Trust Fund: 1980 decisions on, 103-104; establishment of, 102

    • World economic outlook, review of, 82, 107

    Executive Board Decisions

    • Borrowed resources suspense accounts, 168-69

    • Borrowing agreement with Bank for International Settlements, 189-90

    • Borrowing agreement with Saudi Arabian Monetary Agency, 172-89

    • Borrowing from central banks and other official institutions, 191-96

    • Charges on transactions and holdings in the General Resources Account, 163-67

    • Compensatory financing of fluctuations in the cost of cereal imports, 169-72

    • Enlarged access policy, 153-55; forms of stand-by and extended arrangements, 156-61

    • Policy on multiple currency practices, 161-62

    • Purchases under stand-by and extended arrangements, 167-68

    • Selection of currencies by Fund, 152-53

    • Special drawing rights: abrogation of rules for reconstitution, 145; allocation to new participants, 146; rate of interest and rate of remuneration, 144-45; sales by Fund for quota payments, 145; sales of SDRs and use of currencies through operational budgets, 151-52; valuation and interest rate basket, 142-44

    • Supplementary financing facility: review and extension of, 151; subsidy account, 147-51

    • Treatment of reserve tranche, 162-63

    • Trust Fund: inclusion of China and Guyana among eligible members and extension of second period, 146; termination, repayments of loans, and use of Fund’s resources, 146-47

    Extended Fund Facility, 80*, 122*-123*, 126*, 79, 82, 84

    • Charges, 129*

    • Enlarged access policy under, 86-87

    • Extended arrangement: form under enlarged access policy, 158-62

    • Purchases by members, 81, 82*, 83, 84, 162, 167-68

    • Repurchases by members, 83†

    • Supplementary financing facility, use of, 84, 86*

    • See also individual countries

    Fiji

    • Exchange rate, 116*

    • Quota increase, 131 *

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    Financial Programs Agreed with Fund, 3, 19, 39, 78, 79

    Financial Statements of Fund, 221-45

    Finland

    • Balance of payments, 24

    • Enlarged access policy, lending under, 92

    • Exchange rate, 116*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131*

    • SDRs, 134*, 136*

    Foreign Exchange Markets

    • See Exchange Markets

    Foreign Exchange Reserves

    • See International Reserves

    Foreign Investment

    • See International Investment

    Foreign Trade

    • See International Trade

    France

    • Balance of payments, 21†, 22, 23, 28, 49, 50*, 51

    • Economic activity and policies, 4, 10†, 50*, 94†

    • Employment, 12

    • Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 25†, 28, 42*, 43†, 46†, 47, 48†, 50*, 69, 116*

    • General Arrangements to Borrow, 127*

    • GNP deflator, 8

    • Interest rates, 3, 4, 27†, 28, 43†, 44†, 46†

    • International reserves, 47, 48†

    • Investments, 71†

    • Monetary growth, 4, 5†, 45*

    • Oil facility subsidy account, contribution to, 102*

    • Oil prices, 23

    • Output, 8*, 9, 10†, 51

    • Prices, 6†, 8, 27†

    • Quota increase, 131*

    • Rate of return on French franc, 70

    • Ratio of official reserves to exports, 48†

    • Role of French franc as reserve currency, 66, 69

    • SDRs, 99, 134*, 136*

    • Trade, 23

    Gabon

    • Exchange rate, 116*

    • Extended arrangement with Fund, 126*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 136*

    Gambia, The

    • Exchange rate, 116*

    • Quota increase, 131 *

    • SDRs, 134*, 136*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    General Arrangements to Borrow (GAB)

    • Borrowing by Fund, 82*, 88, 90, 127*

    • Credit arrangements, 127*

    • Participants, 127*

    • Purchases by Fund members financed under, 83

    • Renewal, 90

    • Repayment in Fund, 101

    General Resources Account Trans-actions

    • Borrowing by Fund, 78, 79, 90, 127*, 135*

    • Charges, 81, 93-94, 106, 129*, 163-67;payment in SDRs, 99, 100, 135*

    • Currencies, use of, 88, 151-53

    • Holdings of: gold, 82*, 88; SDRs, 64, 80, 82*, 88, 100, 106-107, 135*; usable currencies, 80, 82*, 88

    • Purchases by members, 3, 79, 80, 82, 83, 100, 121*, 122*-123*, 135*

    • Receipt of SDRs, 100, 135*, 136*-139*

    • Remuneration paid to members, 81, 93-94, 106-107; in SDRs, 100, 135*

    • Repurchases by members, 82, 831, 88, 100, 121*, 124*-125*, 135*

    • Rescheduling of repurchases, 88

    • Reserve tranche treatment, 83

    • SDRs: inclusion in operational budgets, 100; use of, 100, 135*, 136*-139*

    • Subscription payments by members in SDRs, 135*

    Germany, Federal Republic of

    • Balance of payments, 21†, 22, 23, 28, 49, 50, 51

    • Economic activity and policies, 4, 10†, 50*, 94†

    • Employment, 12

    • Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 119* (fn”)

    • Exchange rate, 23, 25†, 28, 41, 42, 43†, 45, 46†, 47, 48†, 49, 50, 69, 116*

    • General Arrangements to Borrow, 127*

    • GNP deflator, 8, 9†

    • Interest rates, 3†, 4, 27†, 28, 42, 43†, 44†, 46†

    • International reserves, 47, 48†

    • Investments, 71†

    • Monetary growth, 4, 5†, 45*

    • Oil facility financing, 90-91, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Oil prices, 23

    • Output, 8*, 9, 10†, 51

    • Prices, 6†, 8, 9, 23, 27†, 41, 42, 49

    • Quota increase, 131*

    • Rate of return on deutsche mark, 70

    • Ratio of official reserves to exports, 481

    • Role of deutsche mark as reserve currency, 66, 69

    • SDRs, 70, 72, 98*, 99, 134*, 136*

    • Supplementary financing facility, lending for, 91, 128*

    • Trade, 23

    • Transfer of: oil facility claims, 90-91; supplementary financing facility claims, 91

    Ghana

    • Exchange rate, 116*

    • Quota increase, 131 *

    • Repurchases from Fund, 124*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Gold

    • ECUs issued against, 64-66

    • Fund holdings, 88

    • Holdings, 64-66, 65*, 68

    • Price, 64-66, 68, 103

    • Sales by Fund, 82*, 102, 103*; distribution of profits, 79, 80*, 82*, 103*

    Greece

    • Exchange rate, 116*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 131 *

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 137*

    Grenada

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 98*, 134*, 137*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Group of Ten, 72

    Guatemala

    • Exchange rate, 117*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 137*

    • Supplementary financing facility, lending for, 128*

    Guinea

    • Exchange rate, 117*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Guinea-Bissau

    • Exchange rate, 117*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 137*

    Guyana

    • Exchange rate, 117*

    • Extended arrangement with Fund, 86*, 126*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 137*

    • Supplementary financing facility, use of, 86*

    • Trust Fund: disbursements, 104*; eligible for assistance, 103, 146

    Haiti

    • Exchange rate, 117*

    • Extended arrangement with Fund, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 137*

    • Trust Fund disbursements, 104*

    Honduras

    • Exchange rate, 117*

    • Extended arrangement with Fund, 126*

    • Quota increase, 131 *

    • SDRs, 99*, 134*, 137*

    • Trust Fund disbursements, 104*

    Iceland

    • Exchange rate, 117*

    • Quota increase, 131*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 137*

    Income and Expenses of Fund, 106, 220

    India

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Output, 14, 55 (fn.)

    • Prices, 15

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 131 *

    • SDRs, 99*, 134*, 137*

    • Trust Fund disbursements, 103, 104*

    Indonesia

    • Exchange rate, 117*

    • Quota increase, 131*

    • SDRs, 99*, 134*, 137*

    Industrial Countries

    • Balance of payments, 1, 4, 16, 18*, 19, 20*, 21, 22, 23, 26, 36, 38, 40, 41, 49, 50*, 73, 75

    • Borrowing, 18 Capital flows, 1, 51

    • Capital markets, access to, 75

    • Debt, 47, 49

    • Economic activity and policies, 1, 2, 3, 4, 6, 8, 9, 10†, 11, 19, 26, 36, 37, 38, 39, 41, 47, 49, 50*, 51, 58

    • Employment, 11, 36, 37

    • Energy prices, 11, 36, 37, 38

    • Energy production and consumption, 2, 6, 11, 36, 37

    • Enlarged access policy, lending under, 92

    • Exchange arrangements, 54*

    • Exchange rates, 1, 24, 25†, 37, 39, 40, 41, 42, 43†, 46†, 47, 48†, 49, 50*, 58

    • Foreign exchange reserves, 65*, 66

    • Gold holdings, 65*, 66

    • GNP deflators, 7, 8, 9†, 21

    • Incomes policies, use of, 37

    • Indexation, 36, 38

    • Interest rates, 1, 3, 4, 16, 19, 26, 27†, 37, 40, 42, 431, 44†, 45, 46†, 74, 94†

    • International banking, 19*

    • International reserves, 481, 64, 65*, 75

    • Investments, 11, 36

    • Manufacturing, labor costs in, 7

    • Monetary growth, 1, 2, 4, 5†, 19, 36, 37, 42, 45, 47, 49

    • Oil price increases, effect of, 2, 6, 9, 36, 74

    • Output, 1, 2, 4, 6, 7, 8, 9, 10†, 11, 12, 23, 36, 37, 39, 40, 51

    • Prices, 2, 3, 4, 6, 7, 8*, 9†, 11, 19, 21, 26, 27†, 36, 37, 39, 40

    • Private banks, 18, 36

    • Protectionism, 36, 38, 39, 56

    • Ratio of: non-gold reserves to imports, 75, 76†; official reserves to exports, 48†

    • Reserve positions in Fund, 65*, 66

    • SDRs, 65*, 66, 70, 72

    • Stagflation, 36-37, 39

    • Trade, 1, 7, 11, 16, 17*, 21, 23, 36, 38

    • Wages, 7, 8, 36, 38

    • See also individual countries

    Interim Committee

    • Allocations of SDRs for fourth basic period, consideration of, 77, 98

    • Communiqués, 3, 90, 95, 105, 197-203

    • Eighth General Review, endorsement of, 90

    • Inflation, views on, 3

    • Simplification of SDR valuation, endorsement of, 95

    International Adjustment Process, 33, 38, 39, 40, 47, 49, 55, 59-61

    International Banks

    • Global sources and uses of funds, 18, 19*, 74

    International Investment

    • Direct investment, 18, 33, 52, 56

    • Effect of exchange rate variability on, 47, 52, 56

    • Energy production, 6, 11

    • Industrial countries, investment of, 71†

    • Non-oil developing countries, investments of, 33

    • Oil exporting countries, investments of, 13, 18, 29, 53, 56-57, 77

    • Protectionism, 15

    International Organizations

    • Fund relations with, 108-109

    International Reserves

    • Adequacy of, 64, 74-75, 77

    • Borrowed from capital markets, 74, 77

    • Changes in countries’ holdings of, 47, 48†

    • Composition of, 40, 64, 66, 68, 69, 72, 73*

    • Distribution of, 33, 75

    • ECU holdings, 40, 64, 68, 72, 73*

    • Foreign exchange holdings, 64, 65-66, 68-69, 72-73, 78

    • Global stock, 18, 64, 75, 77

    • Gold holdings, 64-66, 68

    • Growth of, 40, 64, 68, 70, 75, 77, 78, 81

    • Official holdings, 48†, 64, 65*, 66, 67*, 68, 69*, 72, 73, 74

    • Recycling, Fund’s role in, 81

    • Reserve positions in Fund, 40, 48† (fn.), 64, 65*, 66, 70, 72, 77, 81, 83, 88, 106-107

    • SDRs, 40, 48† (fn.), 64, 65*, 66, 68, 70, 82, 97

    • See also individual countries

    International Trade

    • Cereals, 81, 84-85

    • Developing countries, trade among, 56

    • Effect of: exchange rate changes on, 50, 51; oil price stabilization on, 2 Growth of, 1, 16

    • Import substitution, 55

    • Manufactured goods, 17*, 23

    • Oil, 17*, 23, 28, 29, 30, 38

    • Prices, 17*

    • Primary commodities, 17*, 30

    • Protectionism, 14, 36, 38, 39, 56, 61

    • Summary of, 1962-80, 17*

    • Terms of trade, 1, 2, 16, 17*, 28, 29, 30, 38

    • Value of, 17*

    • Volume of, 17*

    • See also individual countries

    Iran

    • Economic activity and policies, 13, 29

    • Exchange rate, 117*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Output, 12

    • Prices, 13

    • Quota increase, 89, 98, 131*, 133* (fn.)

    • SDRs, 134*, 137*

    • Trade, 29

    Iraq

    • Balance of payments, 29

    • Economic activity and policies, 13

    • Exchange rate, 117*

    • Output, 12

    • Quota increase, 89, 131*

    • SDRs, 134*, 137*

    • Trust Fund, contribution to, 103

    Ireland

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 117*

    • Quota increase, 131*

    • SDRs, 134*, 137*

    Israel

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 100, 122*, 124*

    • Quota increase, 131*

    • SDRs, 98*, 100, 134*, 137*

    Italy

    • Balance of payments, 21†, 22, 23, 28, 49, 50*, 51

    • Economic activity and policies, 4, 10†, 28, 50*

    • Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 24, 119* (fn.)

    • Exchange rate, 24, 25†, 28, 41, 42*, 43†, 46†, 48†, 49, 50*, 117*

    • General Arrangements to Borrow, 127*

    • GNP deflator, 8

    • Interest rates, 3†, 4, 27†, 43†, 44†, 46†

    • International reserves, 48† Monetary growth, 4, 5†, 45*

    • Oil facility subsidy account, contribution to, 102*

    • Oil prices, 23

    • Output, 8*, 9, 10†, 51

    • Prices, 6†, 8, 27†, 28, 41, 49

    • Quota increase, 131*

    • Ratio of official reserves to exports, 48†

    • SDRs, 97, 99*, 134*, 137*

    • Trade, 23

    • Wages, 49

    Ivory Coast

    • Exchange rate, 117*

    • Extended arrangement with Fund, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases from Fund, 122*

    • Quota increase, 131*

    • SDRs, 97, 99*, 134*, 137*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Jamaica

    • Exchange rate, 117*

    • Extended arrangement with Fund, 84, 86*, 126*

    • Purchases and repurchases from Fund, 122*

    • Quota increase, 131*

    • SDRs, 98*, 99*, 134*, 137*

    • Supplementary financing facility, use of, 86*

    Japan

    • Balance of payments, 21†, 22, 23, 24, 28, 49, 50, 51, 59

    • Economic activity and policies, 10†, 50*, 94†

    • Enlarged access policy, lending under, 92

    • Exchange rate, 23, 24, 25†, 26, 28, 41, 42, 43†, 45, 46†, 47, 48†, 49, 50, 59, 69, 117*

    • General Arrangements to Borrow, 127*

    • GNP deflator, 8, 9†

    • Interest rates, 3†, 4, 19, 26, 27†, 28, 43†, 44†, 46†

    • International reserves, 47, 48†

    • Investments, 71†

    • Manufacturing, labor costs in, 23

    • Monetary growth, 4, 5†, 45*

    • Oil facility subsidy account, contribution to, 102*

    • Oil prices, 23

    • Output, 8*, 9†, 10†, 11, 28, 51

    • Prices, 6†, 8, 9, 27†, 49

    • Quota increase, 131 *

    • Rate of return on yen, 70

    • Ratio of official reserves to exports, 48†

    • Role of yen as reserve currency, 66, 69

    • SDRs, 70, 72, 134*, 137*

    • Supplementary financing facility, lending for, 128*

    • Trade, 11, 23

    Jordan

    • Exchange rate, 117*

    • Quota increase, 131*

    • SDRs, 134*, 137*

    Kampuchea, Democratic

    • Exchange rate, 117*

    • Gold sales by Fund: share of profits held in Trust Fund, 104 (fn.)

    • Quota increase, 89, 131*

    • Reconstitution obligation, 97

    • SDRs, 97 (fn.), 134*, 137*

    • Trust Fund, 104 (fn.)

    Kenya

    • Exchange rate, 117*

    • Extended arrangement with Fund, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*

    • Quota increase, 132* SDRs, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    • Trust Fund disbursements, 104*

    Korea

    • Exchange rate, 117*

    • Oil price increase, effect of, 55

    • Purchases and repurchases from Fund, 83, 122*, 124*

    • Quota increase, 89, 132*

    • SDRs, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    Kuwait

    • Allocation of SDRs to, 98

    • Balance of payments, 29

    • Exchange rate, 117*

    • Oil facility financing, 127*

    • Quota increase, 89, 132*

    • SDRs, 98, 99*, 134*, 137*, 146

    • Special Drawing Rights Department, participation in, 98, 146

    • Supplementary financing facility, lending for, 128*

    • Trust Fund, contribution to, 103

    Lao People’s Democratic Republic

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Latin America and Caribbean

    • Balance of payments, 18*

    • Debt, 34*

    • Output, 12*, 15

    • Prices, 12*, 15, 16*, 72

    • Trade, 15

    • Trust Fund disbursements, 103*

    Lebanon

    • Exchange rate, 117*

    • Quota increase, 89, 132*

    • SDRs, 134*, 137*

    Lesotho

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Liberia

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Libyan Arab Jamahiriya

    • Balance of payments, 29

    • Exchange rate, 117*

    • Quota increase, 89, 132*

    • SDRs, 99*, 134*, 137*

    • Trust Fund, contribution to, 103

    Luxembourg

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 117*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    Madagascar

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Malawi

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    • Trust Fund disbursements, 104*

    Malaysia

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    Maldives

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    Mali

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Malta

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    Mauritania

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Mauritius

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 88, 122*, 124*

    • Quota increase, 132* SDRs, 99*, 134*, 137*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Mexico

    • Exchange rate, 117*

    • Extended arrangement with Fund, 126*

    • Purchases and repurchases from Fund, 100, 124*

    • Quota increase, 132*

    • SDRs, 99*, 100, 134*, 137*

    Middle East

    • Balance of payments, 18*

    • Debt, 34*

    • Output, 12*, 15

    • Prices, 12*, 16*

    • SDRs, 72

    • Trade, 15

    • Trust Fund disbursements, 103*

    Monetary Growth, 1, 2, 4, 5†, 36, 37, 41, 42, 45, 47, 59

    Morocco

    • Exchange rate, 117*

    • Extended arrangement with Fund, 84, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Nepal

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    • Trust Fund disbursements, 104*

    Netherlands

    • Balance of payments, 24 Enlarged access policy, lending under, 92

    • European Monetary System, participation in, 119* (fn.)

    • Exchange rate, 117*

    • General Arrangements to Borrow, 127*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • Role of guilder as reserve currency, 66, 69

    • SDRs, 99*, 134*, 137*

    • Supplementary financing facility, lending for, 128*

    • Supplementary financing facility subsidy account, contribution to, 106

    New Zealand

    • Exchange rate, 117*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 137*

    Nicaragua

    • Exchange rate, 117*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 134*, 137*

    • Stand-by arrangement with Fund, 120*

    Niger

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Nigeria

    • Exchange rate, 117*

    • Oil facility financing, 127*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    • Supplementary financing facility, lending for, 128*

    Norway

    • Balance of payments, 22, 23, 24

    • Enlarged access policy, lending under, 92

    • Exchange rate, 24, 117*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Oil production, 23

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    Official Development Assistance (ODA), 29, 31, 32*, 33, 39

    Oil Facility in Fund

    • Borrowing by Fund, 82*, 88, 90-91, 127*

    • Charges, 93, 129*

    • Purchases by members, 79, 82*, 83†, 101*

    • Repayments by Fund, 90-91, 101, 127*

    • Repurchases by members, 83, 124*-125*

    • Subsidy account, 101-102

    • Transfer of claims, 90-91

    • See also Subsidy Account for Oil Facilityand individual countries

    Oman

    • Exchange rate, 117*

    • Oil facility financing, 127*

    • Quota increase, 89, 98, 132*

    • SDRs, 99*, 134*, 137*

    Organization of Petroleum Exporting Countries (OPEC)

    • Fund for International Development, 29

    • Trust Fund contributions by members of, 103

    Pakistan

    • Exchange rate, 117*

    • Extended arrangement with Fund, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 137*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Panama

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 134*, 137*

    • Stand-by arrangement with Fund, 82, 86*, 120*

    • Supplementary financing facility, use of, 86*

    Papua New Guinea

    • Exchange rate, 117*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 134*, 137*

    • Trust Fund disbursements, 104*

    Paraguay

    • Exchange rate, 117*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    Peru

    • Exchange rate, 117*

    • Purchases and repurchases from Fund, 100, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 100, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    Philippines

    • Exchange rate, 117*

    • Extended arrangement with Fund, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 99*, 100, 134*, 138*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Portugal

    • Exchange rate, 117*

    • Oil price increase, effect of, 55

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 138*

    Publications of Fund, 141*

    Qatar

    • Balance of payments, 29

    • Exchange rate, 117*

    • Quota increase, 89, 132*

    • SDRs, 134*, 138*

    • Trust Fund, contribution to, 103

    Quotas of Fund Members

    • Adjustment of, 79-80, 88, 89

    • Basis for enlarged access limits, 2, 87 (fn.)

    • Eighth General Review, 78, 79, 88, 90

    • Increases in, 64, 78, 79, 89, 107, 131*-133*

    • Seventh General Review, 78, 79, 88, 89, 98, 100, 107

    • Subscription payments, 78, 79, 100

    • See also individual countries

    Romania

    • Exchange rate, 118*

    • Purchases and repurchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 138*

    • Trust Fund, contribution to, 103

    Rwanda

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    St. Lucia

    • Article VIII obligations, acceptance of, 107

    • Exchange rate, 118*

    • Purchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    St. Vincent and the Grenadines

    • Exchange rate, 118*

    • Purchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    • Status in Fund, 107

    Sao Tome and Principe

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    Saudi Arabia

    • Balance of payments, 29

    • Enlarged access policy, lending under, 29, 78, 81, 86, 89, 90, 91-92, 172-89

    • Exchange rate, 118*

    • Oil facility claims, 90-91

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Output, 12, 13

    • Quota adjustment, 78, 81, 88, 89-90

    • Quota increase, 89, 132*

    • Reserve position, 89

    • SDRs, 99*, 134*, 138*

    • Supplementary financing facility claims, 91

    • Supplementary financing facility, lending for, 128*

    • Trade, 29

    • Trust Fund, contribution to, 103

    Senegal

    • Exchange rate, 118*

    • Extended arrangement with Fund, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Seychelles

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    Sierra Leone

    • Exchange rate, 118*

    • Extended arrangement with Fund, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Singapore

    • Exchange rate, 118*

    • Quota increase, 89, 132*

    • SDRs, 99*, 134*, 138*

    Solomon Islands

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 98*, 134*, 138*

    Somalia

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    South Africa

    • Exchange rate, 118*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 99*, 134*, 138*

    Spain

    • Balance of payments, 24

    • Exchange rate, 118*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 99*, 134*, 138*

    Special Drawing Rights (SDRs)

    • Allocations, 40, 77, 79, 80*, 134*, 136*-139*; for first basic period, 78; for third basic period, 70, 77, 82, 95, 98, 146; for fourth basic period, 77, 98

    • Characteristics, 77, 95-96 Charges, payment of, 99, 100, 135*

    • Currencies transferred for, 99, 100, 140*

    • Currency peg, use as, 54*, 63*, 98, 116*-119*

    • Deposit market, 72

    • Holdings: by General Resources Account, 70, 88, 100, 106-107, 135*, 151-52; by “other holders,” 65*, 70, 97; by participants, 66, 70, 96-97, 100, 136*-139*

    • Interest and assessments on Fund holdings, 135*, 136*-139*

    • Interest rate on, 69-70, 71† (fn.), 77, 81, 93-94, 95, 96, 100, 106-107, 142-44, 144-45

    • Operational budgets, inclusion in, 100

    • “Other holders” prescribed by Fund, 77, 82, 92, 95, 97, 139*

    • Purchases and repurchases by members, 100, 122*-123*, 135*

    • Purchases by “other holders,” 99

    • Quota increase payments in, 70, 107

    • Reconstitution of participants’ holdings, 96-97, 99, 135*; abrogation of, 77, 81, 95, 96-97, 99, 100-101, 145

    • Remuneration paid to members, 135*, 144-45

    • Replenishment of participants’ currencies, use in, 135*

    • Reserve asset, role as, 77, 78, 79, 81, 95

    • Sales by Fund, 151; for quota increase payments, 100, 145

    • Subscription payments in, 89, 100, 135*

    • Transactions and operations, summary of, 136*-139*

    • Transfers: by agreement, 98-99, 135*, 140*; to and from General Resources Account, 99-100, 135*, 136*-139*; total, 135*; with designation, 99-100, 135*, 136*-139*, 140*

    • Unit of account, use as, 82, 95-96, 97-98

    • Uses, 71†, 77, 81-82, 92, 95-96, 99

    • Valuation, 70, 77, 81, 95-96, 142-44

    • See also individual countries

    Special Drawing Rights Department

    • Participants, 89, 136*-139*, 146

    • Transactions and operations, 98-101, 136*-139*

    • See also Special Drawing Rights

    Sri Lanka

    • Exchange rate, 118*

    • Extended arrangement with Fund, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 138*

    • Trust Fund disbursements, 104*

    Staff of the Fund, 109

    Stand-By Arrangements for Fund Members, 79, 80*, 82, 120*, 121*; enlarged access policy, use under, 86-87; form under enlarged access policy, 156-58; purchases and repurchases by members, 83, 122*-123*, 167-68; use of supplementary financing facility under, 82, 83, 86*, 120*; see also individual countries

    Subscriptions of Fund Members

    • See Quotas of Fund Members

    Subsidy Account for Oil Facility, 80*,

    • 101; beneficiaries, 101-102; charges,

    • 101; contributors, 102; establishment,

    • 101; purchases, 79, 101-102;

    • see also individual countries

    Subsidy Account for Supplementary Financing Facility, 101

    • Assets placed with Bank for International Settlements, 106

    • Borrowing by Fund, 81, 105-106

    • Contributors, 105-106

    • Establishment, 81, 105, 147-51

    • Investments, 106

    • Members eligible for subsidy, 105, 106*, 149

    • Terms and conditions of subsidy, 105, 147-51

    • Trust Fund assets transferred to, 81, 104, 105

    • See also individual countries

    Sudan

    • Exchange rate, 118*

    • Extended arrangement with Fund, 82, 86*, 126*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 88, 122*, 124*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    • Supplementary financing facility, use ‘ of, 86*

    • Trust Fund disbursements, 104*

    Supplementary Financing Facility, 85

    • Borrowing by Fund, 82*, 85, 88, 90, 91, 128*

    • Charges, 93, 129*

    • Commitments to members, 82, 85, 86*, 91

    • Establishment, 85

    • Extended arrangements, use with, 82, 85, 86*

    • Extension, 151

    • Interest rate payable by Fund, 91

    • Purchases by members, 83, 86*, 122*-123*

    • Repayment by Fund, 101

    • Stand-by arrangements, use with, 82, 83, 85, 86*, 120*

    • Subsidy account, 85, 105, 106*, 147-51

    • Transferability of claims, 91

    • See also Subsidy Account for Supplementary Financing Facilityand individual countries

    Suriname

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    Surveillance over Exchange Rate Policies

    • Adjustment of exchange rates, 59-61

    • Article IV: consultations, 62, 82, 107;obligations under, 57

    • Fund’s approach to, 58, 60-61

    • Fund’s role in, 39, 40, 57-58, 62

    • Review by Executive Board, 107

    • Supplemental surveillance procedures, 82, 107

    • World economic outlook exercise, role of, 62

    Swaziland

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    • Trust Fund disbursements, 104*

    Sweden

    • Balance of payments, 24

    • Enlarged access policy, lending under, 92

    • Exchange rate, 24, 118*

    • General Arrangements to Borrow, 127*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Quota increase, 132*

    • SDRs, 97, 134*, 138*

    Switzerland

    • Balance of payments, 24

    • Borrowing by Fund, 82*, 90

    • Enlarged access policy, lending under, 92

    • Exchange rate, 28, 41, 48†

    • General Arrangements to Borrow, association with, 90

    • International reserves, 48†

    • Oil facility financing, 90, 127*

    • Oil facility subsidy account, contribution to, 102

    • Ratio of official reserves to exports, 481

    • Role of Swiss franc as reserve currency, 66, 69

    • Supplementary financing facility, lending for, 91, 128*

    Syrian Arab Republic

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 134*, 138*

    Tanzania

    • Exchange rate, 118*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    • Trust Fund disbursements, 104*

    Technical Assistance and Training by Fund, 82, 107-108

    Thailand

    • Exchange rate, 118*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 138*

    • Trust Fund disbursements, 104*

    Togo

    • Exchange rate, 118*

    • Purchases from Fund, 122*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 86*, 120*

    • Supplementary financing facility, use of, 86*

    • Trust Fund disbursements, 104*

    Trinidad and Tobago

    • Exchange rate, 118*

    • Oil facility financing, 127*

    • Quota increase, 132*

    • SDRs, 99*, 134*, 138*

    Trust Fund, 101

    • Bank for International Settlements, assets placed with, 104

    • Disbursements, 79, 80*, 81, 102-104, 146

    • Establishment, 81, 102

    • Gold auctions, 102-103

    • Investments, 102-104

    • Members eligible for assistance, 102-103, 146

    • Repayment of loans, 81, 146-47, 103-104

    • Second period, extension of, 103, 146

    • Supplementary financing facility subsidy account, transfer of assets to, 81, 104, 146-47

    • Termination, 81, 104, 146-47

    • Terms and conditions of loans, 103—104

    • See also individual countries

    Tunisia

    • Exchange rate, 118*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 134*, 138*

    Turkey

    • Exchange rate, 118*

    • Purchases and repurchases from Fund, 83, 122*, 124*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 100, 134*, 138*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    Uganda

    • Exchange rate, 118*

    • Quota increase, 132*

    • Repurchases from Fund, 124*

    • SDRs, 98*, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    United Arab Emirates

    • Balance of payments, 29

    • Exchange rate, 118*

    • Quota increase, 132*

    • SDRs, 98*, 99*, 134*, 138*

    • Trust Fund, contribution to, 103

    United Kingdom

    • Balance of payments, 21, 22*, 23, 24, 26, 49, 50*, 51

    • Economic activity and policies, 4, 101, 26, 50*, 94†

    • Employment, 12

    • Enlarged access policy, lending for, 92

    • Exchange rate, 23, 24, 251, 26, 42*, 43†, 45, 46†, 47, 48†, 50*, 69, 118*

    • General Arrangements to Borrow, 127* GNP deflator, 8

    • Interest rates, 3, 4, 19, 26, 27†, 43†, 44†, 45, 46†

    • International reserves, 47, 48†

    • Investments, 11, 711

    • Monetary growth, 4, 5†, 26, 45*

    • Oil facility subsidy account, contribution to, 102*

    • Oil production, 23

    • Output, 8*, 9, 10†, 11, 51

    • Prices, 6, 8, 23, 26, 27†

    • Purchases and repurchases from Fund, 100, 124*

    • Quota increase, 132*

    • Rate of return on pound sterling, 70

    • Ratio of official reserves to exports, 481

    • Role of pound sterling as reserve currency, 66, 69

    • SDRs, 99, 100, 134*, 138*

    • Trade, 23

    • Wages, 49

    United States

    • Balance of payments, 4, 21, 22*, 23, 24, 26, 45, 49, 50, 51, 58

    • Economic activity and policies, 4, l0†, 23, 45, 50*, 58, 59, 94†

    • Employment, 12

    • Exchange rate, 23, 24, 251, 26, 41, 42*, 45, 46†, 47, 48†, 49, 50, 58, 59, 69, 118*

    • General Arrangements to Borrow, 90, 127*

    • GNP deflator, 8, 9

    • Interest rates, 3†, 4, 19, 24, 26, 27†, 41, 44†, 45, 46†, 58

    • International reserves, 47, 48†, 68, 75, 77

    • Investments, 11, 23, 71†

    • Manufacturing, labor costs in, 7

    • Monetary growth, 4, 5†, 23, 45, 58

    • Official claims on, 73*

    • Output, 4, 8*, 9, 10†, 11, 23, 51, 58

    • Prices, 6, 7, 8, 9, 23, 26, 27†, 49

    • Purchases from Fund, 90

    • Quota increase, 132*

    • Rate of return on dollar, 70

    • Ratio of: non-gold reserves to imports, 77; official reserves to exports, 481

    • Role of dollar as reserve currency, 66, 68

    • SDRs, 72, 99, 134*, 138*

    • Supplementary financing facility, lending for, 128*

    • Trade, 23

    • Wages, 7

    Upper Volta

    • Exchange rate, 118*

    • Quota increase, 133*

    • SDRs, 134*, 138*

    • Trust Fund disbursements, 104*

    Uruguay

    • Article VIII obligations, acceptance of, 107

    • Exchange rate, 118*

    • Oil price increase, effect of, 55

    • Quota increase, 133*

    • SDRs, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    Vanuatu

    • Membership in Fund, 89

    • Quota, 89

    Venezuela

    • Economic activity and policies, 13

    • Exchange rate, 118*

    • Oil facility financing, 127*

    • Oil facility subsidy account, contribution to, 102*

    • Prices, 13

    • Quota increase, 133*

    • SDRs, 99*, 134*, 138*

    • Supplementary financing facility, lending for, 128*

    • Trust Fund, contribution to, 103

    Viet Nam

    • Exchange rate, 118*

    • Purchases and repurchases from Fund, 122*, 125*

    • Quota increase, 133*

    • SDRs, 99*, 134*, 138*

    • Trust Fund disbursements, 104*

    Western Samoa

    • Exchange rate, 118*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 123*, 125*

    • Quota increase, 133*

    • SDRs, 98*, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    World Bank

    • Cooperation with Fund, 78

    • “Other holder” of SDRs, 77, 97

    World Trade

    • See International Trade

    Yemen Arab Republic

    • Exchange rate, 118*

    • Quota increase, 133*

    • SDRs, 134*, 138*

    Yemen, People’s Democratic Republic of

    • Exchange rate, 118*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 123*, 125*

    • Quota increase, 133*

    • SDRs, 134*, 138*

    • Trust Fund disbursements, 104*

    Yugoslavia

    • Exchange rate, 118*

    • Oil facility subsidy account, contribution to, 102*

    • Purchases and repurchases from Fund, 83, 123*, 125*

    • Quota increase, 133*

    • SDRs, 99*, 134*, 138*

    • Stand-by arrangement with Fund, 83, 86*, 120*

    • Supplementary financing facility, use of, 83, 86*

    • Trust Fund, contribution to, 103

    Zaire

    • Exchange rate, 118*

    • Oil facility subsidy account, use of, 101

    • Purchases and repurchases from Fund, 123*, 125*

    • Quota increase, 133*

    • SDRs, 98*, 99*, 134*, 139*

    • Stand-by arrangement with Fund, 120*

    • Trust Fund disbursements, 104*

    Zambia

    • Exchange rate, 118*

    • Oil facility subsidy account, use of, 101

    • Quota increase, 133*

    • Repurchases from Fund, 125*

    • SDRs, 98*, 99*, 134*, 139*

    • Trust Fund disbursements, 104*

    Zimbabwe

    • Allocation of SDRs to, 98

    • Exchange rate, 118*

    • Membership in Fund, 89, 107, 133* (fn.)

    • Purchases from Fund, 123*

    • Quota, 89, 98, 133*

    • SDRs, 89, 98, 99*, 134*, 139*, 146

    • Special Drawing Rights Department, participation in, 89, 98, 146

    • Stand-by arrangement with Fund, 83, 120*

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