Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1983
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    Index

    Letters are used as follows: c for chart, n for footnote, and t for table.

    • Abu Dhabi

      • Oil facility financing, 125t

      • Supplementary financing facility, lending for, 126t

    • Afghanistan

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Africa

      • Balance of payments, 18t, 32–33, 34, 35c

      • Economic policies, 59

      • Exchange rates, 56

      • External debt, 30

      • International reserves, 32, 68–69, 81

      • Official development assistance received, 32–33

      • Output, 13t, 15c

      • Prices, 16t, 56

      • Trade, 32–33, 38, 59

    • Algeria

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 101t, 128t

    • Antigua and Barbuda

      • Exchange rate, 114t

      • Purchases from Fund, 120t

      • Quota, 133t

      • SDRs, 128t

    • Argentina

      • Cooperative arrangement with creditors, 19

      • Exchange arrangement, 57

      • Exchange rate, 55–56, 57, 114t

      • Output, 12

      • Purchases from Fund, 88, 91, 120t

      • Quota, 133t

      • SDRs, 69, 101t, 128t

      • Stand-by arrangement with Fund, 89t, 90, 118t

    • Articles of Agreement

      • Article IV, 61, 64, 86, 104, 132t

      • Article VIII, 104;

        • members accepting obligations of, 132t

      • Article XIV, 104

      • Article XXX, 88

    • Asia

      • Balance of payments, 18t, 34, 35c, 60

      • Economic policies, 56, 60

      • Exchange rates, 56

      • External debt, 30, 31–32

      • International reserves, 69

      • Output, 13t, 15c

      • Prices, 16

      • Trade, 38, 59

    • Australia

      • Exchange rate, 114t

      • Oil facility subsidy account contribution, 103t

      • Purchases from Fund, 92, 120t

      • Quota, 133t

      • SDRs, 101t, 128t

      • Supplementary financing facility subsidy account contribution, 105t

    • Austria

      • Exchange rate, 114t

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Quota, 133t

      • SDRs, 99, 100t, 101t, 128t

      • Supplementary financing facility subsidy account contribution, 105t, 126t

    • Bahamas

      • Exchange rate, 114t, 128t, 133t

    • Bahrain

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t, 162t

    • Balance of Payments

      • Adjustment and financing, 1, 11, 14, 19, 20, 34, 39, 43, 44, 51, 56, 57, 58, 59, 60, 61, 63, 75, 77, 78–79, 84, 90;

        • role of Fund, 67, 86

      • Effect of changes in value of oil trade on, 67

      • Global summary, 1979–82, 211

    • Bangladesh

      • Economic policies, 59

      • Exchange rate, 114t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 91, 92, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 128t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

      • Trade, 59

    • Bank for International Settlements (BIS)

      • Borrowed resources suspense account with Fund, 96

      • Fund relations with, 64, 86, 106–107

      • Lending to: Fund, 96;

        • Mexico, 79;

        • non-oil developing countries, 32

      • SDR-denominated liabilities of, 104

    • Barbados

      • Exchange rate, 114t

      • Purchases from Fund, 92, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 128t

      • Stand-by arrangement with Fund, 89t, 118t

    • Belgium

      • Balance of payments, 51

      • Economic policies, 51

      • European Monetary System, 50, 117t(n)

      • Exchange rate, 28, 47c, 50, 51, 114t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 52c

      • Oil facility: financing, 125t;

        • subsidy account contribution, 125t

      • Quota, 133t

      • SDRs, 99, 100t, 128t

      • Supplementary financing facility: lending to, 105t;

        • subsidy account financing, 126t

      • Wages, 51

    • Belize

      • Article VIII acceptance, 105

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 100t, 128t

    • Benin

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Bhutan

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Board of Governors

      • Quota increase, resolution on, 86

      • See also Development Committeeand Interim Committee

    • Bolivia

      • Exchange rate, 114t

      • Purchases from Fund, 92, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 128t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Borrowing by Fund

      • Bank for International Settlements, agreement with, 96

      • Conversion arrangements, 159

      • Enlarged access policy, 84, 88t, 96–97

      • General Arrangements to Borrow, 88t, 93, 96–97, 154

      • Guidelines for Fund borrowing, review of, 93

      • Interest: paid on, 97, 127t;

        • rates on, 96–97

      • Oil facility, 88t, 96–97

      • Repayments, 101, 127t

      • Saudi Arabia, 93, 95–96, 154, 159

      • Short-term, 96

      • Supplementary financing facility, 88t, 95, 96–97

      • Switzerland, 88t, 93

    • Botswana

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Brazil

      • Cooperative arrangement with creditors, 19

      • Exchange arrangement, 57

      • Exchange rate, 57, 114t

      • Extended arrangement with Fund, 84, 88–89, 90, 124t

      • External debt, 78

      • Oil facility subsidy account contribution, 103t

      • Output, 12

      • Purchases from Fund, 88, 90, 91, 120t

      • Quota, 133t

      • SDRs, 69, 100t, 101t, 128t

    • Budget of Fund, 186

    • Buffer Stock Financing Facility

      • Charges, 126t

      • Cocoa, 91–92

      • Purchases by members, 84, 86t, 87c, 88t, 91–92, 120t

      • Repurchases by members, 92

      • Rubber, 91–92, 158

      • Sugar, 91–92

      • Tin, 91–92, 158

    • Burma

      • Exchange rate, 57, 114t

      • Purchases from Fund, 120t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 128t

      • Stand-by arrangement with Fund, 118t

      • Trade, 57

    • Burundi

      • Exchange rate, 114t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 128t

    • Cameroon

      • Exchange rate, 114t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

    • Canada

      • Balance of payments, 20, 22t, 23, 24c, 26

      • Economic policies, 5, 39

      • Exchange rate, 27c, 114t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Output, 6, 7, 8c

      • Prices, 6t, 9, 25c

      • Quota, 133t

      • SDRs, 100t, 101t, 128t

      • Supplementary financing facility: lending for, 126t;

        • repayment by Fund, 126t

      • Trade, 26, 60

      • Unemployment, 10, 11

    • Cape Verde

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Capital Markets

      • Confidence in, 61

      • Countries’ access to, 12, 43, 80, 81

      • Disturbances: effects of, 78, 80;

        • markets’ sensitivity to, 76

      • Eurodollar markets, 73, 74

      • Integration, 75

      • International bond issues, 78

      • Structural and institutional changes in, 75–76

    • Central African Republic

      • Exchange rate, 114t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchase of currencies, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 128t

      • Stand-by arrangement with Fund, 89t, 90, 118t

    • Centrally Planned Economies

      • Balance of payments, 58

      • Commercial bank borrowing, 77–78

      • Economic policies, 58

      • Exchange rates, 58

      • Trade, 58

    • Chad

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 100t, 128t

    • Chile

      • Exchange rate, 114t

      • Purchases from Fund, 91, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

      • Stand-by arrangement with Fund, 89t, 90, 118t

    • China

      • Exchange rate, 114t

      • International reserves, 69

      • Output, 13t

      • Prices, 16t

      • Purchases from Fund, 92

      • Quota, 133t

      • SDRs, 128t

    • Colombia

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 101t, 128t

    • Commercial Bank Lending to Developing Countries

      • Effect on international adjustment process, 75

      • External lending and deposit taking of banks in BIS reporting area, 77t

      • Growth: decrease in, 1, 12, 17, 18, 29, 42, 43, 44, 45, 61, 63, 77, 79; 1975–82, 75

      • Interest rates on loans, 29–30

      • Latin America, 61

      • Lending instruments, change in, 76

      • Loan maturities, shortening of, 76

      • Sources of funds, 77–78

    • Comoros

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Compensatory Financing Facility

      • Charges, 126t

      • Executive Board review of, 91

      • Purchases by members, 84, 86t, 87, 88t, 91, 120t

      • Purpose of, 81–82

      • Repurchases by members, 92, 122t

    • Compensatory Financing of Fluctuations in Cereal Import Costs

      • Purchases by members, 91

    • Conditionality, 81, 84, 86t

    • Congo

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Consultations with Fund Members

      • Analytical content, 64

      • Procedural changes, 85

      • Review of, 85

      • Scheduling, 64

      • Summary for 1982/83, 104

      • Surveillance over exchange rate policies, role in, 64

    • Costa Rica

      • Exchange rate, 114t

      • Extended arrangement with Fund, 124t

      • Purchases from Fund, 120t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

      • Stand-by arrangement with Fund, 89t, 118t

    • Credit Tranches

      • Charges, 126t

      • Purchases by members, 86t, 87c, 88

      • Repurchases in, 92

    • Cyprus

      • Exchange rate, 114t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

    • Denmark

      • Balance of payments, 51

      • Economic policies, 51

      • Exchange rate, 28, 47c, 51, 114t

      • Oil facility subsidy account contribution, 103t

      • Participation in European Monetary System, 117t(n)

      • Quota, 87, 133t

      • SDRs, 128t

      • Supplementary financing facility subsidy account contribution, 105t

      • Wages, 51

    • Developing Countries

      • Balance of payments, 43, 44, 55, 58, 59–60, 76

      • Capital formation, 42

      • Commercial bank borrowing, 77–78

      • Economic policies, 40, 42–43, 44, 45, 54, 56, 57, 58

      • Exchange rates, 17, 40, 41, 44, 45, 54, 55, 56, 57, 58, 59–60

      • External debt, 38, 42, 43

      • Gold sales by Fund, distribution of profits from, 85t

      • Interest rates, 40, 41, 44, 54, 58

      • International bond issues, 78t

      • International reserves, 40, 44, 72t, 75

      • Official development assistance, 42, 43

      • Oil facility subsidy account, use of, 102

      • Output, 13t

      • Prices, 16t, 17, 38, 40, 41, 55, 57

      • Structural rigidities in economies of, 41

      • Supplementary financing facility subsidy account, use of, 103

      • Trade, 1, 2, 38, 41, 42, 43, 45, 55, 56, 57, 58, 59–60, 76

      • Trust Fund, repayment of loans, 102

      • Unemployment, 43, 58

      • Non-Oil Developing Countries

        • Balance of payments, 12, 14, 17–18, 20, 21t, 29–30, 31, 33–36, 37c, 38, 58, 60–61, 63, 75, 76

        • Borrowing from BIS, 32

        • Commercial bank borrowing, 18, 77

        • Economic policies, 1, 17, 43, 60–61

        • Exchange rates, 17, 55c, 60

        • Extended arrangements with Fund, 84

        • External debt, 14, 20, 29–31, 32, 33t, 60–61

        • Fund credit, use of, 32, 33t

        • International reserves, 12, 32, 33t, 67, 68t, 69, 70, 80, 81

        • Output, 1, 12, 13t, 14c, 15

        • Prices, 15–16

        • Purchases from Fund, 82

        • SDRs, 100

        • Stand-by arrangements, 84

        • Trade, 1, 12–14, 17, 19t, 20t, 29, 33, 34, 36, 58, 59, 84

        • Net Oil Exporters

          • Balance of payments, 2It, 36, 37c

          • Capital formation, 36

          • Exchange rates, 55

          • External debt, 36

          • Output, 13t, 15

          • Prices, 16t

          • Trade, 20t

        • Net Oil Importers

          • Balance of payments, 2It, 36, 37c

          • Economic policies, 36

          • Exchange rates, 36, 55c

          • Official development assistance, 43

          • Output, 15

          • Prices, 16t

          • Trade, 20t, 36

          • Low-Income Countries

            • Balance of payments, 20t, 21t, 36, 37c, 56, 57

            • Exchange rates, 55c, 56

            • International reserves, 67

            • Official development assistance, 36

            • Output, 13t, 15c

            • Prices, 16t, 56

            • Trade, 36, 56, 57

          • Major Exporters of Manufactures Balance of payments, 20t, 21t, 36, 37c, 56, 57

            • Economic policies, 56

            • Exchange rates, 55

            • Output, 13t, 15c

            • Prices, 16t

            • Trade, 36, 56, 57

      • Oil Exporting Countries Balance of payments, 11, 17, 18t, 20, 21t, 28, 29, 58–59, 76, 77

        • Commercial bank borrowing, 18

        • Economic policies, 1, 11–12, 29

        • Exchange rates, 55

        • Exchange restrictions, 29

        • External debt, 20, 29

        • International reserves, 29, 67, 68t, 69c, 70, 81

        • Output, 12, 13t

        • Prices, 12, 16t

        • SDRs, 100

        • Trade, 11, 12, 17, 19t, 20t, 28–29, 58–59

    • Development Committee Communiqués, 171–76

    • Djibouti

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Dominica

      • Exchange rate, 114t

      • Extended arrangement with Fund, 891, 90, 124t

      • Purchases from Fund, 90, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 128t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Dominican Republic

      • Exchange rate, 114t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Purchases from Fund, 90, 92, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 128t

    • Ecuador

      • Exchange rate, 114t

      • Quota, 133t

      • Purchases from Fund, 120t

      • SDRs, 100t, 101t, 128t

    • Egypt

      • Exchange rate, 114t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

    • El Salvador

      • Exchange rate, 114t

      • Purchases from Fund, 120t

      • Quota, 133t

      • SDRs, 101t, 128t

      • Stand-by arrangement with Fund, 89t, 118t

    • Enlarged Access to Fund Resources

      • Borrowing by Fund for, 88t, 93, 96–97

      • Charges, 126t

      • Conditions for use, 82

      • Executive Board review of, 91

      • Purchases by members, 84, 87c, 90, 91, 95, 96–97, 120t

      • Saudi Arabia, borrowing agreement with, 95–96

      • Stand-by arrangements under, 89, 118t(n)

    • Equatorial Guinea

      • Exchange rate, 114t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 128t

    • Ethiopia

      • Exchange rate, 114t

      • Purchases from Fund, 120t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 128t

      • Stand-by arrangement with Fund, 118t

    • Europe

      • Balance of payments, 18t, 23, 24, 35c

      • Economic policies, 5

      • Exchange rates, 20

      • International reserves, 33t, 68–69

      • Output, 6, 7, 8c, 13t, 15c

      • Prices, 6t, 16t

      • Trade, 26, 38, 60

      • Unemployment, 11

      • Wages, 11

    • European Monetary System (EMS)

      • Economic policies, 51

      • European currency units (ECUs), 70;

        • use as international reserve, 71t, 72t, 73

      • European Monetary Cooperation Fund, 70

      • Exchange rates, 47c;

        • realignment of, 24, 28, 44, 50, 51;

        • real rates, 50–51;

        • variability, 51

      • Interest rates, 51, 52c

      • Objectives, 51

      • Participants, 117t(n)

    • Exchange Arrangements

      • Changes made by members, 65

      • Classification of Fund members as of June 30, 1983, 66t

      • Developing countries, 54–55, 57

      • European Monetary System, 51

      • Functioning of, 62

      • Industrial countries, 45, 53, 54

    • Exchange Markets

      • European Monetary System, 51

      • Intervention, 26, 28, 51, 53, 69, 70, 73

      • Operation of, 45

    • Exchange Rates

      • Adjustment, 51, 53, 54, 55, 56, 62

      • Arrangements, members of Fund, 44, 114t

      • Centrally planned economies, 58

      • Depreciation, effects of, 56, 57, 61, 62

      • Developing countries, 44, 54, 55, 57, 58

      • Effect of interest rate policies on, 26, 58

      • European Monetary System, 51, 117t(n)

      • Expectations, 53, 54, 58, 74

      • Forecasting, 45

      • Industrial countries, 45, 54

      • List as of June 30, 1983, 114t

      • Policies, 44, 45

      • Policy tool, use as, 53, 54, 56, 57, 58, 61, 62

      • Variability, 2, 26, 45, 51, 53

      • See also Surveillance over Exchange Rate Policiesand individual countries

    • Executive Board

      • Changes in membership, 180–85

      • Compensatory financing facility, review of, 91

      • Consultations with members, review of, 86

      • Enlarged access policy, review of, 84, 91

      • Extended Fund facility, review of, 90

      • Fund policies and external debt-servicing problems, review of, 86

      • Further SDR allocations: consideration of, 82;

        • upcoming report on, 83

      • International Natural Rubber Agreement of 1979, review of, 92

      • Liquidity position of Fund, review of, 92

      • List of Executive Directors and voting power, 177

      • Report on Sweden’s 1982 devaluation, discussion of, 65

      • SDR allocations, review of, 84

      • SDR characteristics, review of, 84

      • Sixth International Tin Agreement, review of, 92

      • Surveillance over exchange rate policies: review of implementation, 64;

        • review of procedures, 65

      • Technical assistance by Fund, review of, 86

      • World Economic Outlook, review of, 104

      • See also Executive Board Decisions

    • Executive Board Decisions

      • Borrowing agreement with Saudi Arabia in association with GAB, 95, 98

      • Borrowing by Fund, guidelines for, 93

      • Buffer stock financing facility: International Natural Rubber Agreement of 1979, 158;

        • Sixth International Tin Agreement, 158

      • Early repurchases, guidelines for, 92

      • Eighth General Review of Quotas, 137

      • Fund policies and external debt-servicing problems, 160

      • Fund SDR holdings, reduction of, 93

      • General Arrangements to Borrow: borrowing arrangement with Saudi Arabia, 154;

        • revision, 145

      • SDRs, level of Fund’s holdings, 145

      • Surveillance over exchange rate policies, 61, 142

    • Extended Fund Facility

      • Charges, 126t

      • Commitments to members, 84, 90

      • Consultations relating to, 86

      • Enlarged access resources, use of, 90

      • Executive Board review of arrangements under, 90

      • Purchases by members, 84, 86t, 87, 88, 90, 120t

      • Purpose of, 81

      • Repurchases by members, 92, 122t

      • Status of arrangements on April 30, 1983, 89t

      • Supplementary financing facility, purchases under, 90

      • Undrawn balances, 93

    • External Debt-Servicing Problems

      • Brazil, 78

      • Causes, 18

      • Commercial banks’

        • influence on, 44

      • Developing countries, 62, 76

      • Factors necessary for resolution, 61

      • Implications of, 38

      • Interest rates, role in, 29–30, 34, 43, 76

      • Latin America, 61, 79

      • Mexico, 78

      • Role of Fund in easing, 1, 19, 62, 86, 105, 106, 160

      • Technical assistance by Fund, 64, 86, 105, 106

    • Fiji

      • Exchange rate, 114t

      • Quota, 133t

      • SDRs, 128t

    • Finances of Fund

      • Administrative accounts, 85t, 102

      • Borrowed resources, 93;

        • suspense accounts, 96

      • Expenses of Fund, 96, 97

      • Financial statements of Fund, 188–220

      • Income, 96, 97, 98

      • Ordinary resources, 96, 101

      • Reserves, 97, 98

      • See also General Resources Account Transactions

    • Finland

      • Exchange rate, 114t

      • Oil facility subsidy account contribution, 164t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 128t

      • Supplementary financing facility subsidy account contribution, 105t

    • France

      • Balance of payments, 20, 22t, 23, 24c, 39

      • Borrowed resources suspense account with Fund, 96

      • Economic policies, 9, 51

      • European Monetary System, 50

      • Exchange rate, 20, 24c, 28, 47c, 50, 51, 55, 114t

      • Franc: growth of investments in, 75c;

        • use as currency peg, 54t;

        • use as international reserve, 7It, 72t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c, 52c, 98c

      • Oil facility subsidy account contribution, 103t

      • Output, 6, 8c

      • Participation in European Monetary System, 117t(n)

      • Prices, 6t, 9–10, 24, 25c, 39

      • Quota, 133t

      • SDRs, 100t, 128t

      • Supplementary financing facility subsidy account contribution, 105t

      • Unemployment, 10

    • Gabon

      • Exchange rate, 114t

      • Extended arrangement with Fund, 124t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

      • Supplementary financing facility subsidy account, lending for, 105t

    • Gambia, The

      • Exchange rate, 114t

      • Purchases from Fund, 91, 120t

      • Quota, 87, 133t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 129t

      • Stand-by arrangement with Fund, 118t

    • General Agreement on Tariffs and Trade (GATT)

      • Fund relations with, 64

    • General Arrangements to Borrow (GAB)

      • Borrowing by Fund for, 88t, 93, 95, 97, 125t, 154

      • Commitments under, proposed increase in, 82

      • Enlargement and revision, 84, 94–95

      • Participants, 94t

      • Renewal of, 94

      • Revision, Executive Board decision on, 145

      • Saudi Arabia, borrowing arrangement with, 95

      • Use of resources by nonparticipants, 82

      • See also Borrowing by Fund

    • General Resources Account Transactions

      • Assessments, 127t

      • Borrowing by Fund, 125t

      • Charges, 126t, 127t;

        • payment in SDRs, 99, 100, 101;

        • rate of, 96, 98

      • Commitments, 93

      • Early repurchases, guidelines for, 92

      • Holdings of: gold, 88t;

        • SDRs, 88t, 93, 97, 101;

        • usable currencies, 88t, 93

      • Interest payments to, 127t

      • Purchases by members, 85t, 86t, 87, 88 96, 99, 100, 101, 119t, 120t, 127t

      • Quota payments, 127t

      • Remuneration: expense of, 97;

        • norms defined, 97;

        • rate of, 96, 97, 98;

        • to members, 96, 97, 101, 127t

      • Repurchases by members, 87, 88t, 92, 99, 100–101, 119t, 122t, 127t

      • Stand-by arrangements, 84

    • Germany, Federal Republic of

      • Balance of payments, 20, 22t, 23, 24c, 48, 73

      • Borrowed resources suspense account with Fund, 96

      • Deutsche mark: growth of investments in, 75c;

        • use as international reserve, 71t, 72t, 73

      • Economic policies, 39, 45, 48

      • Exchange rate, 20, 23, 24c, 26, 28, 45, 46c, 47c, 48, 50, 115t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c, 48, 49c, 52c, 98c

      • International reserves, 26, 69

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Output, 6t, 7, 8c

      • Participation in European Monetary System, 117t(n)

      • Prices, 6t, 9, 24, 25c, 26, 45, 48

      • SDRs, 99, 100, 101t, 129t, 133t

      • Supplementary financing facility, lending for, 126t

      • Trade, 48

      • Unemployment, 10

      • Wages, 45

    • Ghana

      • Exchange rate, 115t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

    • Gold

      • Sales by Fund: for distribution, 85t, 88t;

        • in auctions, 88t

    • Greece

      • Exchange rate, 115t

      • Oil facility subsidy account contribution, 103t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

    • Grenada

      • Exchange rate, 115t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 92, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 129t

      • Stand-by arrangement with Fund, 118t

    • Guatemala

      • Exchange rate, 115t

      • Quota, 133t

      • SDRs, 100t, 129t

      • Stand-by arrangement with Fund, 118t

      • Supplementary financing facility: lending for, 126t;

        • repayment by Fund, 126t

    • Guinea

      • Exchange rate, 115t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

    • Guinea-Bissau

      • Exchange rate, 115t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 129t

    • Guyana

      • Exchange rate, 115t

      • Extended arrangement with Fund, 124t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Haiti

      • Economic policies, 59

      • Exchange rate, 115t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

      • Trade, 59

    • Honduras

      • Exchange rate, 115t

      • Extended arrangement with Fund, 124t

      • Purchases from Fund, 120t

      • Quota, 87, 133t

      • SDRs, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

    • Hungary

      • Economic policies, 58

      • Exchange rate, 58, 115t

      • Membership in Fund, 86

      • Purchases from Fund, 120t

      • Quota, 86, 133t

      • SDRs, 100t, 101t, 129t

      • Special Drawing Rights Department, participation in, 86

      • Stand-by arrangement with Fund, 89t, 90, 118t

      • Trade, 58

    • Iceland

      • Exchange rate, 115t

      • Purchases from Fund, 120t

      • Quota, 133t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

    • Income and Expenses of Fund, 187

    • India

      • Economic policies, 59

      • Exchange rate, 56, 115t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Prices, 56

      • Purchases from Fund, 90, 91, 120t

      • Quota, 133t

      • SDRs, 100t, 101t, 129t

      • Trade, 59

    • Indonesia

      • Exchange rate, 115t

      • Purchases from Fund, 88, 92, 120t

      • Quota, 133t

      • SDRs, 99, 100t, 101t, 129t

    • Industrial Countries

      • Balance of payments, 18, 20, 21t, 22t, 23, 39, 44–45, 51, 60

      • Capital formation, 7

      • Commercial bank borrowing, 18, 77–78

      • Economic policies, 2–11, 34, 39–42, 43, 44–45, 51, 53, 62–63

      • Exchange markets, 53

      • Exchange rates, 44, 45, 51, 53, 54, 62

      • Interest rates, 2, 3, 4, 7, 9, 34, 38, 40, 53

      • International bond issues, 78t

      • International reserves, 67–75, 80–81

      • Lending to Fund, 93

      • Output, 1, 3, 5, 6t, 7, 8c, 12

      • Prices, 1, 2, 3, 4, 5, 6, 7–10, 38, 39, 41, 51, 53–54, 82

      • Repurchases from Fund, 92

      • SDRs, 70, 100

      • Structural rigidities in economies of, 2, 3, 6, 41

      • Trade, 2, 12–13, 17, 19t, 20t, 23, 24, 38, 40, 45, 51, 56, 57, 59, 60, 63, 76

      • Unemployment, 1, 7, 9, 10–11, 41, 42, 51

      • Wages, 7, 9, 51

      • Williamsburg Declaration on Economic Recovery, 38, 40

    • Interim Committee

      • Communiqués, 164–70

      • Further SDR allocations, consideration of, 82–83

      • Inflation reduction, statements on, 3

    • International Bank for Reconstruction and DevelopmentSee World Bank

    • International Organizations

      • Fund relations with, 64, 86, 106–107

    • International Reserves

      • Adequacy, 79–81

      • Changes during 1982, 67

      • Composition, changes in, 69

      • Distribution, 81

      • Foreign exchange, 67–69, 70;

        • currency composition of official holdings, 71t, 72t;

        • diversification of holdings, 70, 73;

        • sources of official holdings, 74t

      • Fund-related assets, 67, 68t, 69, 70, 81

      • Fund’s role in providing, 81–83

      • Gold, 68t, 70

      • Multiple reserve currency system, 73, 74

      • Non-gold reserves, 69t, 70

      • Official holdings, 44, 68t, 70–74

    • Iran, Islamic Republic of

      • Exchange rate, 115t

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Output, 12

      • Quota, 133t

      • SDRs, 129t

    • Iraq

      • Exchange rate, 115t

      • Purchases from Fund, 88, 120t

      • Quota, 133t

      • SDRs, 101t, 129t

    • Ireland

      • Exchange rate, 28, 47c, 115t

      • Participation in European Monetary System, 117t(n)

      • Quota, 133t

      • SDRs, 100t, 129t

    • Israel

      • Exchange arrangement, 57

      • Exchange rate, 57, 115t

      • Quota, 133t

      • Repurchases from Fund, 101, 122t

      • SDRs, 100t, 101, 129t

    • Italy

      • Balance of payments, 20, 22t, 23, 24c, 39

      • Economic policies, 5, 10

      • Exchange rate, 20, 24c, 28, 47c, 115t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c, 52c

      • Oil facility subsidy account contribution, 103t

      • Output, 6t, 7, 8c

      • Participation in European Monetary System, 117t(n)

      • Prices, 6t, 9–10, 24, 25c, 39

      • Quota, 133t

      • SDRs, 129t

    • Ivory Coast

      • Exchange rate, 56, 115t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Prices, 56

      • Purchases from Fund, 90, 120t

      • Quota, 133t

      • SDRs, 100t, 101t, 129t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Jamaica

      • Economic policies, 58, 59

      • Exchange rate, 115t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Interest rates, 58

      • Prices, 58

      • Purchases from Fund, 90, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

      • Trade, 59

    • Japan

      • Balance of payments, 20, 22t, 23, 24, 48

      • Borrowed resources suspense account with Fund, 96

      • Capital formation, 26

      • Economic policies, 5, 39, 45, 48

      • Exchange rate, 20, 24c, 26, 44, 45, 46c, 48, 50, 115t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c, 48, 49c, 98c

      • International reserves, 26

      • Oil facility subsidy account contribution, 103t

      • Output, 6, 7, 8c, 24

      • Prices, 6t, 9, 25c, 26, 45, 48

      • Quota, 134t

      • SDRs, 100t, 101t, 129t

      • Supplementary financing facility, repayment by Fund, 126t

      • Trade, 24, 26, 48

      • Unemployment, 10

      • Wages, 45

      • Yen: growth of investments in, 75c;

        • use as international reserve, 71t, 72t, 73

      • Joint Ministerial Committee of the Bank and the Fund on the Transfer of Real Resources to Developing Countries

        • See Development Committee

      • Jordan

        • Exchange rate, 115t

        • Quota, 134t

        • SDRs, 129t

      • Kampuchea, Democratic

        • Quota, 134t

        • SDRs, 129t

      • Kenya

        • Exchange rate, 57, 115t

        • Extended arrangement with Fund, 124t

        • Oil facility: subsidy, 103t;

          • use of, 103t

        • Purchases from Fund, 91, 120t

        • Quota, 134t

        • Repurchases from Fund, 122t

        • SDRs, 100t, 101t, 129t

        • Stand-by arrangement with Fund, 89t, 118t

        • Supplementary financing facility: subsidy, 104t;

          • use of, 104t

        • Trade, 57

      • Korea

        • Exchange rate, 115t

        • Purchases from Fund, 91

        • Quota, 134t

        • Repurchases from Fund, 122t

        • SDRs, 100t, 129t

      • Kuwait

        • Exchange rate, 115t

        • Oil facility financing, 125t

        • Quota, 87, 134t

        • SDRs, 101t, 129t

        • Supplementary financing facility, lending for, 126t

      • Latin America

        • Balance of payments, 60, 79

        • Economic policies, 58, 60

        • Exchange rates, 58

        • External debt, 31, 61, 79

        • Interest rates, 58

        • Trade, 59

      • Lao People’s Democratic Republic

        • Exchange rate, 115t

        • Quota, 134t

        • SDRs, 100t, 129t

      • Lebanon

        • Exchange rate, 115t

        • Quota, 134t

        • SDRs, 129t

      • Lesotho

        • Exchange rate, 115t

        • Purchases from Fund, 120t

        • Quota, 134t

        • SDRs, 129t

    • Liberia

      • Exchange rate, 115t

      • Quota, 134t

      • Purchases from Fund, 91, 120t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Libyan Arab Jamahiriya

      • Exchange rate, 115t

      • Quota, 134t

      • SDRs, 129t

    • Luxembourg

      • Exchange rate, 28, 115t

      • Oil facility subsidy account contribution, 103t

      • Participation in European Monetary System, 117t(n)

      • Quota, 134t

      • SDRs, 129t

      • Supplementary financing facility subsidy account, loan to, 105t

    • Madagascar

      • Exchange rate, 115t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Malawi

      • Economic policies, 57–58

      • Exchange rate, 115t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 91, 92, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

      • Trade, 57–58

    • Malaysia

      • Exchange rate, 115t

      • Purchases from Fund, 92, 120t

      • Quota, 87, 134t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 129t

    • Maldives

      • Exchange rate, 115t

      • Quota, 134t

      • SDRs, 129t

    • Mali

      • Exchange rate, 115t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 101t, 129t

      • Stand-by arrangement with Fund, 89t, 118t

    • Malta

      • Exchange rate, 115t

      • Quota, 87, 134t

      • SDRs, 101t, 129t

    • Managing Director

      • SDR allocations, role in proposal for, 82

      • Surveillance over exchange rate policies, role in, 64–65

    • Mauritania

      • Exchange rate, 115t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Mauritius

      • Exchange rate, 115t

      • Purchases from Fund, 91, 92, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Membership in Fund

      • Hungary becomes new member, 86

      • Polish People’s Republic’s application for, 86

    • Mexico

      • Borrowing: from BIS, 79;

        • from commercial banks, 79;

        • from U.S. Government, 79

      • Cooperative arrangement with creditors, 19

      • Exchange rate, 55, 115t

      • Extended arrangement with Fund, 84, 88–89, 90, 124t

      • External debt, 78

      • Output, 12

      • Purchases from Fund, 88, 90, 120t

      • Quota, 134t

      • SDRs, 69, 100t, 101t, 129t

    • Middle East

      • Balance of payments, 18t, 35c

      • International reserves, 69

      • Output, 13t, 15c

      • Prices, 16t

      • Trade, 38

    • Morocco

      • Economic policies, 59

      • Exchange rate, 115t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 91, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 129t

      • Stand-by arrangement with Fund, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

      • Trade, 59

    • Nepal

      • Exchange rate, 115t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

    • Netherlands

      • Exchange rate, 28, 47c, 50, 115t

      • General Arrangements to Borrow, 94, 125t

      • Guilder, use as international reserve, 71t, 72t

      • Interest rates, 52c

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Participation in European Monetary System, 50, 117t

      • Quota, 134t

      • SDRs, 101t, 129t

      • Supplementary financing facility: lending for, 126t, subsidy account contribution, 105t

    • New Zealand

      • Article VIII acceptance, 104

      • Exchange rate, 115t

      • Oil facility subsidy account contribution, 103t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

    • Nicaragua

      • Exchange rate, 115t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 129t

    • Niger

      • Exchange rate, 115t

      • Quota, 134t

      • SDRs, 129t

    • Nigeria

      • Exchange rate, 115t

      • Oil facility financing, 125t

      • Quota, 87, 134t

      • SDRs, 129t

      • Supplementary financing facility: lending for, 126t;

        • repayment by Fund, 126t

    • Non-Oil Developing CountriesSee Developing Countries

    • Norway

      • Exchange rate, 28, 115t

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Quota, 87, 134t

      • SDRs, 101t, 129t

      • Supplementary financing facility subsidy account contribution, 105t

    • Oil Exporting CountriesSee Developing Countries

    • Oil Facility in Fund

      • Borrowing by Fund for, 88t, 93, 95, 96–97, 125t

      • Charges, 126t

      • Final repurchase made, 87, 95

      • Purchases by members, 86t, 87, 88t, 96–97, 103t

      • Repayment to lenders, 101, 125t

      • Repurchases by members, 92, 125t

      • Subsidy account: contributions to, 102, 103t;

        • payments to members, 85t, 102, 103t

    • Oman

      • Exchange rate, 116t

      • Oil facility financing, 125t

      • Quota, 134t

      • SDRs, 100t, 101t, 130t

    • Organization of Petroleum Exporting Countries (OPEC), 11

    • Pakistan

      • Economic policies, 59

      • Exchange rate, 116t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 90, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 130t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

        • Trade, 59

    • Panama

      • Exchange rate, 116t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

      • Stand-by arrangement with Fund, 118t

    • Papua New Guinea

      • Exchange rate, 116t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Quota, 134t

      • SDRs, 100t, 130t

    • Paraguay

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 101t, 130t

    • Peru

      • Exchange rate, 116t

      • Extended arrangement with Fund, 89t, 90, 124t

      • Purchases from Fund, 90, 91, 120t

      • Quota, 134t

      • Repurchases from Fund, 101, 122t

      • SDRs, 100t, 101t, 130t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Philippines

      • Exchange rate, 116t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 87, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Polish People’s Republic

      • Application for Fund membership, 86

    • Portugal

      • Exchange rate, 116t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

    • Publications of Fund, 136t

    • Qatar

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 101t, 130t

    • Quotas of Fund Members

      • Eighth General Review, 82, 84, 86, 93, 137t

      • Establishment of Hungary’s quota, 86

      • Increases: 67, 82;

        • calculation of, 86

      • Payment in SDRs, 98, 127t

      • Present and proposed quotas, list of, 133t

      • Proposed increases in, 86, 87

      • Seventh General Review, 98

    • Reserve Tranche

      • Borrowing in, 81

      • Positions of members, 93

      • Purchases by members, 87c, 88, 94

      • Remuneration on, 97

    • Romania

      • Economic policies, 58

      • Exchange rate, 116t

      • Purchases from Fund, 88, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Trade, 58

    • Rules and Regulations of Fund

      • Interest rate on Fund’s SDR holdings, provision for review of, 96

    • Rwanda

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 101t, 130t

    • St. Lucia

      • Exchange rate, 116t

      • Purchases from Fund, 92

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 130t

    • St. Vincent

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 130t

    • São Tomé and Principe

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 130t

    • Saudi Arabia

      • Exchange rate, 116t

      • General Arrangements to Borrow, lending for, 154

      • International reserves, 69

      • Lending: to Fund, 93, 95–96, 159;

        • in association with General Arrangements to Borrow, 82, 95

      • Oil facility: financing, 125t;

        • subsidy account contribution, 130t

      • Quota, 134t

      • SDRs, 101t, 130t

      • Supplementary financing facility: lending for, 126t;

        • repayment by Fund, 126t;

        • subsidy account contribution, 105t

    • Senegal

      • Exchange rate, 116t

      • Extended arrangement with Fund, 124t

      • Oil facility subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Seychelles

      • Exchange rate, 116t

      • Quota, 87, 134t

      • SDRs, 130t

    • Sierra Leone

      • Exchange rate, 116t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Singapore

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 130t

    • Solomon Islands

      • Exchange rate, 116t

      • Purchases from Fund, 91, 120t

      • Quota, 134t

      • SDRs, 130t

      • Stand-by arrangement with Fund, 118t

    • Somalia

      • Economic policies, 57–58

      • Exchange rate, 116t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Trade, 57–58

    • South Africa

      • Exchange rate, 116t

      • Oil facility subsidy account contribution, 103t

      • Purchases from Fund, 91, 120t

      • Quota, 87, 134t

      • SDRs, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

    • Spain

      • Exchange rate, 116t

      • Oil facility subsidy account contribution, 103t

      • Quota, 134t

      • Repurchases from Fund, 101, 122t

      • SDRs, 101t, 130t

    • Special Drawing Rights

      • Allocations, 81, 82–83, 84, 85t, 128t

      • Assessments, use in payment of, 127t

      • Attractiveness, possible further improvements in, 84

      • Charges, use in payment of, 99, 101, 127t

      • Deposits denominated in, 96

      • Growth of investments in, 75c

      • Holdings: by Fund, 69, 93, 96, 97, 145;

        • by members, 69, 100, 128t;

        • in General Resources Account, 101

      • Interest: paid on, 101, 127t;

        • rate on, 96, 97, 98c, 101

      • Operations in, summary of, 99

      • Prescribed holders of, 99, 131t

      • Purchases: from Fund, 127t;

        • by members, 120t

      • Quota payments, use in, 127t

      • Reconstitution, 127t

      • Remuneration paid to Fund members in, 101

      • Replenishment of currencies, use in, 127t

      • Repurchases from Fund, 127t

      • SDR/dollar rate, effect of fluctuations in, 69

      • Transactions and operations, summary of, 128t

      • Transfers: among participants and prescribed holders, 127t, 128t;

        • by agreement, 98–99, 100t, 127t, 128t;

        • to and from General Resources Account, 128t;

        • with designation, 98–100, 101t, 127t, 128t

      • Use: as currency peg, 54t, 65, 102;

        • as unit of account, 102

    • Special Drawing Rights Department

      • Hungary becomes participant, 86

      • Participants, 86, 99–100, 102

      • Prescribed holders, 102, 128t;

        • operations, 127t

      • SDRs, holdings by Fund, 93

      • Transfers: by agreement, 127t;

        • with designation, 127t

    • Sri Lanka

      • Economic policies, 57–58

      • Exchange rate, 116t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 92, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

      • Trade, 57–58

    • Staff of Fund, 108

    • Stand-By Arrangements for Fund Members

      • Borrowed resources: use under, 88

      • Commitments to members, 84

      • Consultations relating to, 86

      • In financial year 1982/83, 89, 118t

      • Ordinary resources: use under, 88

      • Purchases by members, 84, 88

      • Repurchases by members, 92, 122t

      • Status on April 30, 1983, 89t

      • Supplementary financing facility, purchases under, 90

      • Undrawn balances, 93

      • Use of: enlarged access resources under, 118t(n);

        • supplementary financing facility under, 118t(n)

    • Sudan

      • Exchange rate, 116t

      • Extended arrangement with Fund, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Supplementary Financing Facility

      • Borrowing by Fund for, 88t, 90, 93, 95, 96–97, 126t

      • Charges, 126t

      • Extended arrangements approved under, 90

      • Initial repurchase made, 87

      • Purchases by members, 87, 90, 91, 95, 96–97, 104t, 120t

      • Repayments by Fund to lenders, 101, 126t

      • Repurchases by members, 95, 122t

      • Stand-by arrangements approved under, 89, 90, 118t(n)

      • Subsidy account: contributions to, 105t;

        • loans to, 105t;

        • payments to members, 85t, 103, 104t;

        • rate of subsidy, 103

    • Suriname

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 101t, 130t

    • Surveillance over Exchange Rate Policies

      • Consultations with Fund members, role in, 64

      • Continuation of, 142

      • Executive Board review of, 142

      • Implementation, 44, 61–65

      • Principles of, 61

      • Procedures, 64, 82

      • Role of consultations with Fund members in, 85, 104

    • Swaziland

      • Exchange rate, 116t

      • Quota, 87, 134t

      • Purchases from Fund, 120t

      • SDRs, 101t, 130t

    • Sweden

      • Economic policies, 41

      • Exchange rate, 28, 65, 116t

      • Fund consultation with, 104

      • General Arrangements to Borrow, 94, 125t

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Quota, 134t

      • SDRs, 130t

      • Supplementary financing facility subsidy account contribution, 105t

    • Switzerland

      • Franc: use as international reserve, 71t, 72t

      • General Arrangements to Borrow, 82, 94;

        • proposed participation in, 94

      • Lending: for oil facility, 95;

        • for supplementary financing facility, 95;

        • to Fund, 88t, 93

      • Oil facility: financing, 125t;

        • subsidy account contribution, 102, 103t

      • SDR, prescribed holder of, 131t

      • Supplementary financing facility: lending for, 126t;

        • repayment by Fund, 126t;

        • subsidy account contribution, 105t

    • Syrian Arab Republic

      • Exchange rate, 116t

      • Purchases from Fund, 120t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 130t

    • Tanzania

      • Exchange rate, 116t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 92, 121t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

      • Stand-by arrangement with Fund, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Technical Assistance by Fund

      • To members, 86, 105

    • Thailand

      • Economic policies, 58

      • Exchange rate, 56, 116t

      • Interest rates, 58

      • Prices, 56, 58

      • Purchases from Fund, 92, 121t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

      • Stand-by arrangement with Fund, 89t, 90, 118t

    • Togo

      • Exchange rate, 55t

      • Purchases from Fund, 121t

      • Quota, 134t

      • SDRs, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Trade, International

      • Competitiveness, 24, 42, 43, 57

      • Developing countries, 55

      • Effect on exchange rates, 48, 55

      • Export incentives, 59

      • Import restrictions, 2, 59

      • Multi-Fibre Arrangement, 59

      • Protectionism, 1, 2, 13, 24, 36, 38, 40, 42, 43, 45, 56, 57, 58, 59, 60, 63, 76

      • Terms of trade, 20t, 24, 28, 34, 38c, 55

      • Unit value, 19t

      • Volume, 1, 12–14, 17, 19t, 38c

    • Trinidad and Tobago

      • Exchange rate, 116t

      • Oil facility financing, 125t

      • Quota, 134t

      • SDRs, 101t, 130t

    • Trust Fund

      • Loans, 85t;

        • repayment of, 102, 104

      • Termination, 102

    • Tunisia

      • Economic policies, 59

      • Exchange rate, 116t

      • Quota, 134t

      • SDRs, 130t

      • Trade, 59

    • Turkey

      • Economic policies, 56, 58, 59

      • Exchange rate, 56, 116t

      • Interest rates, 58

      • Prices, 56, 58

      • Purchases from Fund, 88, 121t

      • Quota, 134t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Trade, 56, 59

    • Uganda

      • Economic policies, 59

      • Exchange rate, 116t

      • Purchases from Fund, 121t

      • Quota, 87, 135t

      • Repurchases from Fund, 122t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 118t

      • Trade, 59

    • United Arab Emirates

      • Exchange rate, 116t

      • Quota, 135t

      • SDRs, 101t, 130t

    • United Kingdom

      • Balance of payments, 20, 22t, 23, 24c, 26, 28

      • Borrowed resources suspense account with Fund, 96

      • Economic policies, 5, 39, 41, 50

      • Exchange rate, 20, 24c, 27, 28, 46c, 50, 51, 116t

      • General Arrangements to Borrow, 94, 125t

      • Interest rates, 4c, 49, 50, 98c

      • Oil facility subsidy account contribution, 103t

      • Output, 6, 8c

      • Pound: growth of investments in, 75c;

        • use as currency peg, 54t;

        • use as international reserve, 71t, 72t, 73

      • Prices, 6t, 9, 25c, 50

      • Purchases from Fund, 92

      • Quota, 87, 135t

      • Repurchases from Fund, 122t

      • SDRs, 99, 100, 130t

      • Trade, 24, 26

      • Unemployment, 11

      • Wages, 50

    • United States

      • Balance of payments, 20, 22t, 23, 24, 26, 48, 50, 73

      • Capital formation, 26

      • Dollar: growth of investments in, 75c;

        • role as intervention currency, 70;

        • use as currency peg, 54t;

        • use as international reserve, 71t, 72–74

      • Economic policies, 2, 3, 5, 39, 41, 45, 48, 50, 53

      • Exchange rate, 19, 20, 24, 26, 27c, 44, 45, 46c, 48, 50, 51, 55, 69, 116t

      • General Arrangements to Borrow, 94, 125t

      • Government lending to Mexico, 79

      • Government securities, 75, 102

      • Interest rates, 4c, 41, 48, 49c, 50, 98c

      • International reserves, 26, 69

      • Output, 5, 6, 7, 8c

      • Policies, 50

      • Prices, 9, 25c, 26, 45, 48

      • Purchases from Fund, 94

      • Quota, 135t

      • Repurchases from Fund, 101

      • SDRs, 100, 101, 130t

      • Supplementary financing facility, lending for, 126t

      • Trade, 26, 48, 60

      • Treasury bills, return on, 75

      • Unemployment, 10, 11

      • Wages, 45

    • Upper Volta

      • Exchange rate, 116t

      • Quota, 135t

      • SDRs, 130t

    • Uruguay

      • Exchange rate, 116t

      • Purchases from Fund, 92, 121t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 100t, 101t, 130t

      • Stand-by arrangement with Fund, 89t, 90, 118t

    • Vanuatu

      • Article VIII acceptance, 104

      • Exchange rate, 116t

      • Quota, 135t

      • SDRs, 130t

    • Venezuela

      • Exchange rate, 116t

      • Oil facility: financing, 125t;

        • subsidy account contribution, 103t

      • Quota, 135t

      • SDRs, 101t, 130t

      • Supplementary financing facility: lending for, 126t;

      • repayment by Fund, 126t

    • Viet Nam

      • Exchange rate, 116t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 100t, 131t

    • Western Hemisphere

      • Balance of payments, 18t, 35c

      • External debt, 30, 31

      • International reserves, 33t, 68, 70, 81

      • Output, 13t, 15c

      • Prices, 16

      • Trade, 36, 38

    • Western Samoa

      • Exchange rate, 116t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 131t

    • World Bank

      • Fund relations with, 86, 106, 107

      • Redirection of aid to developing countries, 42

    • Yemen Arab Republic

      • Exchange rate, 117t

      • Purchases from Fund, 89, 121t

      • Quota, 135t

      • SDRs, 131t

    • Yemen, People’s Democratic Republic of

      • Exchange rate, 117t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 89, 121t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 131t

    • Yugoslavia

      • Exchange rate, 117t

      • Oil facility subsidy account contribution, 103t

      • Purchases from Fund, 88, 121t

      • Quota, 135t

      • SDRs, 100t, 131t

      • Stand-by arrangement with Fund, 89t, 118t

    • Zaïre

      • Exchange rate, 117t

      • Extended arrangement with Fund, 90, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 121t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 131t

    • Zambia

      • Exchange rate, 117t

      • Extended arrangement with Fund, 90, 124t

      • Oil facility: subsidy, 103t;

        • use of, 103t

      • Purchases from Fund, 121t

      • Quota, 135t

      • Repurchases from Fund, 123t

      • SDRs, 100t, 101t, 131t

      • Stand-by arrangement with Fund, 89t, 118t

      • Supplementary financing facility: subsidy, 104t;

        • use of, 104t

    • Zimbabwe

      • Exchange rate, 117t

      • Purchases from Fund, 121t

      • Quota, 135t

      • SDRs, 131t

      • Stand-by arrangement with Fund, 89t, 118t

    World Economic Outlook: A Survey by the Staff of the International Monetary Fund (Washington, May 1983), pages 137–40. (Hereinafter referred to as World Economic Outlook.)

    In Chart 17, the expected rate of inflation for each quarter is approximated by the average GNP deflator for three quarters centered on the quarter in question. Projections of the rate of inflation for the second and third quarters of 1983 were used for the end-of-period observations. The same measure of the expected rate of inflation is used to deflate short-term and long-term interest rates. The assumption is that market participants can project reasonably well the evolution of inflation over the near term, but not over the long term, so that even the supply and demand for long-term financial assets are mainly influenced by the ongoing rate of inflation. There is some evidence for this hypothesis; nevertheless, too much should not be made of these calculations, in particular those concerning the long-term rates. The main purpose of the calculations is to introduce some allowance for inflationary expectations in the appraisal of the levels of interest rates.

    Working Group on Exchange Market Intervention, established at the Versailles Summit of the Heads of State and Government, June 4, 5, and 6, 1982, Report of the Working Group on Exchange Market Intervention, March 1983, page 17.

    In the following discussion, prices are measured by the consumer price index, with indices of partner countries averaged by using import weights, and exchange rates are measured by an import-weighted index of effective exchange rates. Some of the limitations of this index, and the reasons for using it rather than alternative indices, were described in World Economic Outlook (April 1982), pages 120–26. There have, in general, not been large differences between import-weighted indices and indices based on SDR or export weights.

    These points are presented and discussed in more detail in World Economic Outlook (May 1983), Appendix A-5, pages 131–37.

    Evidence is presented in World Economic Outlook (May 1983), Appendix A-5, pages 131–37 to show that over the period 1973–82 countries that have been able to maintain international competitiveness, as measured by an index of the real effective exchange rate, have enjoyed a more buoyant growth of exports.

    A more comprehensive coverage of changes in countries’ trade restrictions is contained in the 1983 Annual Report on Exchange Arrangements and Exchange Restrictions (International Monetary Fund, Washington, 1983).

    These trends are discussed in more detail in World Economic Outlook (May 1983), Appendix A-7, pages 140–44.

    See Executive Board Decision No. 5392-(77/63), adopted April 29, 1977, Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 10–14 (hereinafter referred to as Selected Decisions).

    General Agreement on Tariffs and Trade, Press Release No. 1328 (Geneva), November 29, 1982, at pages 3 and 4.

    At the time the swaps are renewed, gold is valued at the lower of two prices: the average price recorded in the preceding six months and the price on the penultimate working day.

    For these comparisons, the present currency composition of the SDR that became effective on January 1, 1981 was assumed throughout the period shown. The yields assumed for the calculation are the combined market rate for the SDR and the component rates for the respective currencies. These are described more fully in the Annual Report for 1982.

    This sum is broadly consistent with the national balance of payments statistics measure of net borrowing from private banks.

    See the Annual Report for 1981 for a more extensive discussion.

    Resolution No. 38–1, adopted March 31, 1983 and reproduced in Appendix II.

    The “reserve tranche” is measured by the extent to which the Fund’s holdings of a member’s currency in the General Resources Account, after deducting holdings excluded under Article XXX (c), are less than its quota.

    Executive Board Decision No. 6830-(81/65), adopted April 22, 1981, effective May 1, 1981, Selected Decisions, Tenth Issue, page 299. The decision excluded holdings from purchases in the credit tranches or under the extended Fund facility under Article XXX (c) (iii).

    Executive Board Decision No. 4377-(74/114), adopted September 13, 1974, as amended by Decisions Nos. 6339-(79/179), December 3, 1979, and 6830-(81/65), April 22, 1981, effective May 1, 1981, Selected Decisions, Tenth Issue, pages 27–31.

    Executive Board Decision No. 5508-(77/127), adopted August 29, 1977, Selected Decisions, Tenth Issue, pages 33–38.

    Executive Board Decision No. 6783-(81/40), adopted March 11, 1981, Selected Decisions, Tenth Issue, pages 40–45. See also Annual Report of the Executive Board for the Financial Year Ended April 30, 1981, pages 85–88. (Hereinafter referred to as Annual Report, 19—.)

    See also Annual Report, 1982, pages 82–83.

    Executive Board Decision No. 6860-(81/81), adopted May 13, 1981, Selected Decisions, Tenth Issue, pages 65–70.

    Executive Board Decision No. 2772-(69/47), June 25, 1969, as amended by Decision No. 4913-(75/207), December 24, 1975, Selected Decisions, Tenth Issue, pages 70–71.

    Executive Board Decision No. 7247-(82/147), adopted November 12, 1982 (reproduced in Appendix II), Selected Decisions, Tenth Issue, pages 74–75.

    Executive Board Decisions Nos. 5704-(78/39), adopted March 22, 1978, and 6172-(79/101), adopted June 28, 1979, i Selected Decisions, Tenth Issue, pages 101–105.

    The Fund’s overall liquidity position is the relationship between its immediately usable assets, comprising SDRs and usable currencies in the General Resources Account, and its liquid liabilities, consisting of members’ liquid claims on the Fund (reserve positions, undrawn balances of ordinary resources and lenders’ claims on the Fund). The Fund’s holdings of gold, amounting to 103.440 million ounces (valued at SDR 35 per fine ounce), are not included in the category of immediately usable resources. The sale of this gold for any purpose requires an 85 per cent majority of the total voting power of the Fund.

    Taking into account the remuneration for the financial year 1982/83 and quarterly charges paid in May 1983, the usable resources would amount to SDR 18.0 billion.

    Executive Board Decision No. 7397-(83/70) S, adopted May 16, 1983 and reproduced in Appendix II.

    Executive Board Decision No. 7040-(82/7), adopted January 13, 1982, Selected Decisions, Tenth Issue, pages 231–32.

    Executive Board Decision No. 7337-(83/37), adopted February 24, 1983 (reproduced in Appendix II), Selected Decisions, Tenth Issue, pages 131–45.

    Executive Board Decision No. 7403-(83/73), adopted May 20, 1983 and reproduced in Appendix II.

    Executive Board Decision No. 7047-(82/13), adopted February 5, 1982, Selected Decisions, Tenth Issue, pages 58–61.

    Executive Board Decision No. 6843-(81/75), adopted May 6, 1981, Selected Decisions, Tenth Issue, pages 173–203.

    See Annual Report, 1982, page 86.

    Executive Board Decision No. 7188-(82/114), adopted August 20, 1982 (reproduced in Appendix II), Selected Decisions, Tenth Issue, page 203.

    The Fund currently permits the following additional uses of SDRs by participants and by prescribed holders, namely: to use SDRs in settlement of financial obligations; to buy and sell SDRs forward; to borrow, lend or pledge SDRs; to use SDRs in swaps; or to make donations (grants) of SDRs. See Selected Decisions, Tenth Issue, pages 278–88.

    These now comprise the African Development Bank, African Development Fund, Arab Monetary Fund, Asian Clearing Union, Asian Development Bank, Development Bank of the Great Lakes Countries, Economic Community of West African States, European Conference of Postal and Telecommunications Administrations, Inter-American Development Bank, International Centre for Settlement of Investment Disputes, International Development Association, International Fund for Agricultural Development, International Telecommunications Union, Islamic Development Bank, and Nordic Investment Bank.

    Executive Board Decision No. 6704-(80/185) TR, adopted December 17, 1980, Selected Decisions, Tenth Issue, pages 318–20.

    Executive Board Decision No. 6683-(80/185) G/TR, adopted December 17, 1980, Selected Decisions, Tenth Issue, pages 321–28.

    Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), page 10.

    Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 117–28.

    See pages 145–46.

    See pages 145–46.

    Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 70–71.

    Ibid., pages 105–107.

    Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 70–71.

    Ibid., pages 105–107.

    Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 173–74.

    As noted above, Mr. Kharmawan died on October 5, 1982, before the beginning of his new term.

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