Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1987
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    Index

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

    ABU DHABI

    • Supplementary financing facility, 86t

    AFGHANISTAN

    • Exchange arrangements, 77t

    • SDRs, 88t

    AFRICA

    • Balance of payments, 17t

    • Capital formation, 13c

    • Debt, 12, 29; and debt service ratios, 30t; outstanding, 175t

    • Economic policies, 10

    • Exchange rates, 25, 25c

    • Living standards, 12, 12c

    • Output, 11t, 12, 12c, 175t

    • Prices, 13t

    • Purchases from Fund, 50t

    • Sub-Saharan countries, 1,2, 12, 13t, 27c, 40, 174, 175t

    • Trade: exports, 175t; imports, 26, 28c

    ALGERIA

    • Exchange arrangements, 77t

    • SDRs, 88t

    • ANTIGUA AND BARBUDA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    ARGENTINA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Inflation, 10, 13

    • Output, 12

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    ARTICLES OF AGREEMENT

    • Article IV, consultations with members, 31-32, 34-35

    • Article IV, Section 3(b), surveillance over exchange rate policies, 31

    • Article VII, Section 1, borrowing by the Fund, 102

    • Article VIII, members accepting obligations of, 95t

    • Article XVIII, Section 1(a), global need for reserves, 45

    • Article XXVI, Section 2(a), ineligibility to use general resources, 49

    ASIA

    • Balance of payments, 17t, 27c

    • Capital formation, 13c

    • Debt, 11; and debt-service ratios, 30t; outstanding, 175t

    • Economic policies, 10

    • Exchange rates, 25, 25c

    • Living standards, 12, 12c

    • Output, 1, 10, 11t, 175t

    • Prices, 13t

    • Purchases from Fund, 50t

    • Trade: balances, 27c; exports, 175t; imports, 26, 28c

    AUSTRALIA

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 24-25

    • Employment growth, 8

    • Exchange arrangements, 77t

    • Fiscal policy, 3

    • Inflation, 9

    • Output, 8

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    AUSTRIA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Inflation, 9

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    BAHAMAS, THE

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    BAHRAIN

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    BANGLADESH

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    BANK FOR INTERNATIONAL SETTLEMENTS (BIS)

    • Borrowing agreement with Fund, 65

    • Borrowed Resources Suspense Accounts, deposits in, 65

    • Prescribed holder of SDRs, 66n, 91t

    BARBADOS

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    BELGIUM

    • Article VIII obligations, acceptance of, 95t

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Inflation, 9

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Unemployment, 8

    BELIZE

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    BENIN

    • Exchange arrangements, 77t

    • SDRs, 88t

    BHUTAN

    • Exchange arrangements, 77t

    • SDRs, 88t

    BOARD OF GOVERNORS

    • Interim Committee on the International Monetary System (Interim Committee): communiqués, 109-117

    • Joint Ministerial Committee of the Bank and the Fund on the Transfer of Real Resources to Developing Countries (Development Committee): communiqués, 118-23

    • Role in SDR allocations, 46

    BOLIVIA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Inflation, 10, 13

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    BORROWING BY FUND

    • Bank for International Settlements, 65

    • Enlarged access to Fund resources, 65, 85t, 144

    • General Arrangements to Borrow, 65, 65n, 85t, 144-45

    • Guidelines for, 65, 145

    • Interest on, 65, 144

    • Japan, arrangement with, 47, 65, 85t, 102-104

    • Repayment of, 65, 86t, 151t

    • Saudi Arabian Monetary Agency, 47, 65, 100-102

    • Supplementary financing facility, 65, 86t, 144

    BOTSWANA

    • Exchange arrangements, 77t

    • SDRs, 88t

    BRAZIL

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Inflation, 10, 13

    • Output, 11-12

    • Paris Club debt rescheduling agreement, 42

    • Repurchases from Fund, 83t

    • SDRs, 88t

    BUDGET OF THE FUND, 135

    BUFFER STOCK FINANCING FACILITY

    • Access limits, 49

    • International Natural Rubber Agreement, 64

    • Purchases by members, 64, 78t, 85t, 150t

    • Purpose, 140

    • Repurchases by members, 83t

    • Use of Fund credit, 85t, 143

    BURKINA FASO

    • Exchange arrangements, 77t

    • SDRs, 88t

    BURMA

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    BURUNDI

    • Exchange arrangements, 77t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Structural adjustment facility,

    • arrangement with Fund, 86t, 152t

    CAMEROON

    • Exchange arrangements, 77t

    • SDRs, 88t

    CANADA

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 4t, 17t, 23, 23c, 24

    • Deficit, fiscal, 3, 38

    • Economic policies, 1, 2

    • Employment growth, 8

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c, 38

    • Fiscal policy, 4t

    • Inflation, 8, 9c, 38

    • Interest rates, 6c, 22

    • Louvre Accord, 1, 2, 3, 5, 35-36, 37, 38, 40

    • Monetary policy, 38; aggregates, 5t, 38

    • Output, 5t, 7, 7t, 38

    • Prices, 7t, 9c, 38

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Trade, 7; terms of, 38

    • Unemployment, 38

    CAPE VERDE

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • SDRs, 88t

    CAPITAL EXPORTING COUNTRIES

    • See DEVELOPING COUNTRIES

    CAPITAL IMPORTING COUNTRIES

    • See DEVELOPING COUNTRIES

    CAPITAL IMPORTING FUEL EXPORTERS

    • See DEVELOPING COUNTRIES, OTHER

    CAPITAL MARKETS

    • Access of developing countries to, 18, 36, 45, 46

    • Balance of payments adjustment,

    • financing of, 35-36

    • Capital formation, 13c

    • Exchange rate effects on, 36

    • Eurocurrency markets, 59

    • Growth of, 17

    • International bond markets, 17

    • International liquidity, role in providing, 45

    • SDRs, role of, 45

    CENTRAL AFRICAN REPUBLIC

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    CHAD

    • Exchange arrangements, 77t

    • SDRs, 88t

    CHILE

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t, 152t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    CHINA

    • Classification by Fund, 173

    • Exchange arrangements, 25, 77t

    • Purchases from Fund, 63, 80t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Structural adjustment facility, eligibility for assistance and intention not to use, 42, 66

    CLASSIFICATION OF COUNTRIES, 171-74

    COLOMBIA

    • Exchange arrangements, 77t

    • SDRs, 88t

    COMMERCIAL BANK LENDING TO DEVELOPING COUNTRIES

    • Capital importing countries, 29t

    • Debt: amount outstanding, 175t; capital importing countries’, 175t; debt and debt service ratios, 30t; situation and strategy, 40-41

    • Decline in, 35, 40

    • Fund’s role in promoting, 36, 40-41

    • Indebted countries, 41

    • List of heavily indebted countries, 174

    • Multiyear restructuring agreements

    • (MYRAs), 42

    COMOROS

    • Exchange arrangements, 77t

    • SDRs, 88t

    COMPENSATORY FINANCING FACILITY

    • Access limits, review, 49

    • Cereal import costs, review of use in regard to, 49, 64, 64n, 98

    • General resources of Fund, use of, 48c

    • Purchases by members, 47, 64, 78t, 85t, 150t

    • Purpose, 64

    • Repurchases by members, 83t

    • Use of Fund credit, 85t, 143

    CONDITIONALLY

    • Collaboration with World Bank, 43, 44-45

    • Current issues in, 43

    • Guidelines on, 96-97

    • Implementation of, 44

    • Performance criteria, 44

    • Review of, 43, 97

    • Role of Fund in, 43-45

    • Scenarios, medium-term, use of, 44

    CONGO

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    CONSULTATIONS WITH FUND MEMBERS, 31-32, 34-35, 37, 42

    • Frequency of, 34, 37

    • Guidelines for, 34; proposed changes in

    • implementation of, 34

    • Indicators, use of, in, 32, 34-35

    • Managing Director’s role in, 34, 42

    • Reports on, confidentiality of, 35; simplification of, 34-35

    • Staff’s role in, 34

    • Streamlining of consultation process, 34-35

    • Trade issues, coverage of, 34

    • World economic outlook exercise and, 35

    COSTA RICA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    CÔTE D’lVOIRE

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Multiyear restructuring agreement, 42

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    COUNTRIES, CLASSIFICATION OF

    • See CLASSIFICATION OF COUNTRIES

    COUNTRIES WITH DEBT-SERVICING PROBLEMS

    • See DEVELOPING COUNTRIES

    COUNTRIES WITHOUT DEBT-SERVICING PROBLEMS

    • See DEVELOPING COUNTRIES

    CREDIT TRANCHE

    • Arrangements, 41, 42, 43t

    • Purchases from Fund, 43, 78t, 85t, 150t

    • Repurchases from Fund, 83t

    CYPRUS

    • Exchange arrangements, 77t

    • SDRs, 88t

    DENMARK

    • Article VIII obligations, acceptance of, 95t

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Fiscal policy, 3

    • Output, 8

    • Purchases from Fund, 63, 80t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    DEVELOPING COUNTRIES

    • Balance of payments, 17t, 26, 27c, 33, 39

    • Capital formation, 13c; markets, 36

    • Classification, 171

    • Commercial bank borrowing, 2, 10, 36, 40

    • Debt, 1, 3, 36; and debt service ratios, 30t, 36; outstanding, 175t; rescheduling, 36

    • Deficits, fiscal, 10, 16, 28, 29t, 39, 46

    • Economic situation and policies, 9-12, 36

    • Exchange rates, effective, 25, 25c

    • Financing, 28, 29t

    • Inflation, 1, 13-14, 36, 39

    • International bonds, 17

    • International reserves, 18, 19t, 46

    • Living standards, 10, 12, 12c

    • Monetary policies, 39

    • Output, 1, 10, 11t, 12c, 36, 175t

    • Prices: consumer, 13, 13t; non-oil primary commodity, 15c, 40; oil, 14; trade, 3

    • Purchases from Fund, 50t

    • SDRs, holdings of, 67, 92t

    • Trade: balance, 27c, 40; exports, 2, 16t, 26, 175t; imports, 1, 16t, 28c; terms of, 3, 9, 16t, 26, 36, 39

    • Capital Exporting Countries

      • Balance of payments, 26

      • Classification, 171, 173

      • Debt, outstanding, 175t

      • Financing, 26, 28

      • Output, 175t

      • SDRs, holdings of, 92t

      • Trade: balance, 27c; exports, 175t

    • Capital Importing Countries

      • Balance of payments, 26

      • Classification, 171, 173

      • Debt: and debt service ratios, 30t, 40; outstanding, 175t

      • Deficits, fiscal, 29t

      • Financing, 26, 28, 29t

      • International reserves, 29t, 46

      • Output, 175t

      • SDRs, holdings of, 92t

      • Trade: balance, 27c; exports, 175t; imports, 46

      • Use of Fund credit, 29t

      • Diversified Borrowers

        • Classification, 173

        • Debt, outstanding, 175t

        • Output, 175t

        • Trade: exports, 175t

      • Market Borrowers

        • Balance of payments, 17t, 26-27

        • Classification, 173

        • Debt, outstanding, 175t

        • Output, 175t

        • Trade: exports, 175t

      • Official Borrowers

        • Balance of payments, 17t

        • Classification, 173

        • Debt: and debt service ratios, 30t; outstanding, 175t

        • Deficit, fiscal, 27

        • Output, 175t

        • Trade: exports, 175t

      • Countries with Debt-Servicing Problems

        • Capital outflows, reduction in, 28

        • Debt: and debt service ratios, 30t; outstanding, 29, 175t

        • Definition, 173

        • Financing, 28

        • Output, 11t, 175t

        • SDRs, holdings of, 92t

        • Trade: exports, 175t; imports, 28c

      • Countries without Debt-Servicing Problems

        • Capital outflows, reduction in, 28

        • Debt, outstanding, 175t

        • Definition, 173

        • Financing, 28

        • Output, 175t

        • SDRs, holdings of, 92t

        • Trade: exports, 175t; imports, 28c

      • Fuel Exporters

        • Balance of payments, 17t, 26

        • Classification, 172

        • Debt, outstanding, 175t

        • Economic policies, 2, 3

        • Output, 1, 10, 11t, 12, 175t

        • Trade: exports, 10, 16t, 175t; imports, 16t, 26; terms of, 10, 16t, 40

      • Non-Fuel Exporters

        • Balance of payments, 17t, 26

        • Debt, outstanding, 175t

        • Definition, 172

        • Output, 1, 11, 11t, 175t

        • Trade: exports, 16t, 175t; imports, 16t; terms of, 16t, 40

        • Exporters of Manufactures

          • Classification, 172

          • Debt, outstanding, 175t

          • Deficits, fiscal, 10

          • Output, 11t, 175t

          • Trade: exports, 175t; imports, 26

        • Primary Product Exporters

          • Balance of payments, 26

          • Classification, 172

          • Debt, outstanding, 175t

          • Deficit, fiscal, 10, 26

          • Output, 11t, 12, 175t

          • Trade: exports, 175t; terms of, 26

          • Agricultural exporters

            • Debt, outstanding, 175t

            • Definition, 172

            • Output, 175t

            • Trade: exports, 175t

          • Mineral exporters

            • Classification, 172

            • Debt, outstanding, 175t

            • Output, 175t

            • Trade: exports, 175t

        • Service and Remittance Countries

          • Classification, 172

          • Debt, outstanding, 175t

          • Output, lit, 175t

          • Trade: exports, 175t

      • Non-Oil Developing Countries

        • Classification, 174

        • Debt, outstanding, 175t

        • Economic policies, 10

        • Output, 175t

        • Prices, oil, 10

        • Trade: exports, 175t

      • Oil Exporting Countries

        • Classification, 174, 174n

        • Debt, outstanding, 175t

        • Output, 175t

        • Prices, oil, 14, 14c

        • Trade: exports, 175t; terms of, 35

    DEVELOPING COUNTRIES, OTHER

    • Capital Importing Fuel Exporters

      • Classification, 173-74

      • Debt, outstanding, 175t

      • Output, 175t

      • Trade: exports, 175t; imports, 28c

    • Heavily Indebted Countries

      • Classification, 174

      • Debt, outstanding, 30, 175t; strategy, 40-41

      • Economic policies, 3

      • Investment, 12

      • Output, lit, 175t

      • Stand-by and extended arrangements, 42

      • Trade: exports, 175t; imports, 28c

    • Small Low-Income Countries

      • Classification, 174

      • Debt, outstanding, 29, 30, 175t

      • Financing, 36, 40; role of Fund and World Bank in, 40; structural adjustment facility in, 36, 40

      • Output, 175t

      • Stand-by and extended arrangements, 42

      • Structural adjustment facility, assistance under, 42

      • Trade: exports, 175t; imports, 28c

    • Sub-Saharan Africa

      • Balance of payments, 1, 27c

      • Classification, 174

      • Debt, outstanding, 175t

      • Deficit, fiscal, 2

      • Financing, 40

      • Living standards, 12

      • Output, 12, 175t

      • Prices, 12, 13t

      • Trade: balance, 27c; exports, 175t

    DEVELOPMENT COMMITTEE

    • Communiqués, 118-23

    DIVERSIFIED BORROWERS

    • See DEVELOPING COUNTRIES

    DJIBOUTI

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    DOMINICA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    DOMINICAN REPUBLIC

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Multiyear restructuring agreement, 42

    • Repurchases from Fund, 83t

    • SDRs, 88t

    ECUADOR

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Exchange rates, 25

    • Multiyear restructuring agreement, 42

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    EGYPT

    • Classification by Fund, 171

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    EL SALVADOR

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    ENLARGED ACCESS TO FUND RESOURCES

    • Access limits, modification, 48, 97

    • Borrowed Resources Suspense Accounts,

    • 65, 141

    • Borrowing by Fund for, 65

    • Charge, rate of, 71

    • Establishment, 48

    • Executive Board Decisions, 48-49, 97

    • Extension of, 48, 97

    • Fund’s general resources, use of, 48c

    • Guidelines, 48

    • Ordinary and borrowed resources, use of, 97

    • Purchases from Fund, 150t

    • Purpose, 48

    • Repayments of Fund borrowing, 1511

    • Repurchases from Fund, 83t

    • Use of Fund credit, 85t, 143

    EQUATORIAL GUINEA

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    ETHIOPIA

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    EUROPE

    • Balance of payments, developing

    • countries, 17t, 29c

    • Capital formation, 13c

    • Commercial bank borrowing, developing countries, 12

    • Debt: and debt service ratios, developing countries, 30t; outstanding, 175t

    • Economic policies, 5

    • Employment growth, 8

    • European Monetary System, 22

    • Exchange rates, 25, 25c

    • Inflation, 8

    • Investment, developing countries, 12

    • Living standards, developing countries, 12c

    • Output, 7, 8; developing countries, 11t, 12c, 175t

    • Prices, developing countries, 13t

    • Purchases from Fund, developing countries, 50t

    • Trade: balance, developing countries, 8, 27c; exports, 175t; imports, 26, 28c

    • Unemployment, 8, 8c

    EUROPEAN MONETARY SYSTEM (EMS)

    • European currency units (ECUs), role as reserve currency, 59-60, 60t, 60n, 611, 62, 62t

    • European Monetary Cooperation Fund, 59, 59n, 60n

    • Exchange rates, 60; realignment, 22

    • Gold holdings, 59, 59n

    • Operation of, 22

    • Participants, currencies of, 22

    • Pressures from weakness of U.S. dollar, 22

    EXCHANGE MARKETS

    • Cooperation of Japan and United States, 21, 22

    • Official intervention, 18

    • Plaza Accord, 1, 2, 3, 21, 40

    EXCHANGE RATES

    • Adjustment, 33

    • Arrangements, 77t

    • Balance of payments, effect on, 3, 36

    • Currency preferences, effect on, 1, 19

    • Depreciation of U.S. dollar and, 20-22, 23

    • Effective: in developing countries, 25, 25c; in major industrial countries, 20c; trends in, 35

    • European Monetary System, 22

    • Flexibility, 31, 33

    • Floating, 31

    • Interest rates and, 5, 35

    • List as of June 1987, 77t

    • Movements in, 1, 14, 15, 33, 36, 40

    • Notification of changes, 37

    • Plaza Accord, emphasis in, 1, 2

    • Policies, 39

    • Prices, effect on, 15

    • Trade imbalances, effect on, 33, 38

    • World economic outlook exercise and, 31

    See also SURVEILLANCE OVER EXCHANGE RATE POLICIES and individual countries

    EXECUTIVE BOARD

    • Article IV consultations and the consultation process, 31, 34; proposed changes in guidelines, 34

    • Burden sharing, principles of, 99

    • Cereal import costs, review of, 64, 98

    • Changes in membership, 128-34

    • Collaboration with World Bank, 42, 44-45

    • Compensatory financing facility, review of, 64

    • Conditionality: current issues in, 43-44; growth-oriented adjustment programs, 43-44; guidelines, 96; review of, 43, 63-64, 96-97

    • Debt situation and strategy, discussion of, 39-40

    • Enlarged access policy, access limits, 48; extension, 97; guidelines, 48; review of, 48, 97

    • Extended Fund facility, review of, 63-64

    • Indicators, monitoring of, 32-33

    • International cooperation, 33, 36; Managing Director’s role in, 36

    • Liquidity position of Fund, review of, 47, 48-49, 99

    • List of Executive Directors and voting power, 124-27

    • Overdue financial obligations of members: measures to strengthen Fund’s financial position, 49; special charges, 98

    • Reserves, discussion of global need for, 45-46

    • SDRs: allocations, 46-47; holdings of the Fund, 50; issues relating to, 46-47; role of, 68; valuation adjustment of basket, 141-42

    • Staff attendance at Board meetings of Fund and World Bank, 45

    • Structural adjustment facility, eligibility of Kiribati and Tonga, 100; establishment of, 42; loans approved, 43; Managing Director’s proposal for increase in resources, 43; members eligible for assistance, 100; special charges, 100

    • Surveillance over exchange rate policies, 31, 36; protectionism, 33-34; review of implementation, 96; use of indicators, 31-32

    • Trade policies, discussion of, 33-34, 39; protectionism, 33-34, 39; restrictions, 33-34, 36, 39; review of, 34-35

    • World economic outlook, discussion of, 31-35

    • See also EXECUTIVE BOARD DECISIONS

    EXECUTIVE BOARD DECISIONS

    • Borrowing arrangements: with Japan, 65, 65n, 102-104; with Saudi Arabian Monetary Agency, 65, 65n, 100-102

    • Burden sharing, principles of, 99

    • Charge, rate of, 99

    • Compensatory financing of fluctuations in cereal import costs, review of, 64n, 98

    • Conditionality: guidelines on, 96; review of, 96-97

    • Enlarged access to Fund resources, extension of period and access limits, 48-49, 97; use of ordinary and borrowed resources, 97

    • Extended Fund facility, review of, 64, 64n, 96-97

    • Fund’s income position: adjustments to rate of charge and rate of remuneration, 69-70, 70n, 99-100; income target, 69

    • Fund’s SDR holdings, reduction of level, 66, 66n

    • Overdue financial obligations to the Fund: accounting for, 98; special charges on, 71, 71n, 98-99

    • Repurchases, overdue, special charges on, 99

    • SDRs, additional prescribed operations in, 67, 67n

    • Structural adjustment facility, list of eligible members amended to include Kiribati and Tonga, 66n, 100; special charges, 66, 66n, 100

    • Supplementary Financing Facility Subsidy Account: amendment of instrument, 107; determination of amount of subsidy payments, 69, 69n, 104; disbursements, past and proposed for year ended June 30, 1986, 106t, 108t; list of members eligible to receive subsidy at full rate and at half the full rate, 106t, 108t; subsidy payments for July 1, 1985-June 30, 1986, 105, 106t, 107, 108t

    • Surveillance over exchange rate policies, 31, 31n; amendment of procedures, 96; review of implementation, 31, 96

    EXPORTERS OF MANUFACTURES

    • See DEVELOPING COUNTRIES

    EXTENDED FUND FACILITY

    • Arrangements under, 50t, 64, 82t

    • Borrowed resources, use of, 82t

    • Enlarged access to Fund resources, use by members, 48c

    • Executive Board decision, review of, 64, 64n, 96-97

    • Ordinary resources, use of, 48c

    • Purchases by members, 64, 78t, 85t, 150t

    • Purpose of, 140

    • Repurchases by members, 83t

    • Upper credit tranche arrangements, 42t

    • Use of Fund credit, 85t

    EXTERNAL RELATIONS OF FUND, 75-76

    FIJI

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    FINANCES OF FUND

    • Administered accounts, 69, 140-142

    • Borrowed Resources Suspense Accounts, 59, 65, 141

    • Financial statements, 136-70

    • Income, 69-70, 70n, 99-100

    • Special Contingent Account, 49, 70

    • Special Disbursement Account, 65, 69, 141, 152t

    • Reserves, 49, 144

    • See also GENERAL RESOURCES ACCOUNT TRANSACTIONS

    FINLAND

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    • Unemployment, 8

    FRANCE

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 4t, 17t, 23c, 24

    • Economic policies, declarations of, 1, 2, 31-32, 40, 41, 43

    • European Monetary System, 22, 38, 59

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c

    • Fiscal policy, 3, 4t, 38

    • Group of Five, 2

    • Inflation, 9, 9c, 38

    • Interest rates, 5, 6c, 72c

    • Louvre Accord, 1, 2, 5, 22, 35-36, 37, 38

    • Monetary aggregates, 5t

    • Output, 5t, 7t

    • Plaza Accord, 1, 2, 3, 21, 40

    • Prices, 7t, 9c

    • Role of franc as currency peg, 77t; as reserve currency, 60t, 61t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    • Trade, terms of, 15

    • Unemployment, 8, 8c

    FUEL EXPORTERS

    • See DEVELOPING COUNTRIES

    GABON

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    GAMBIA, THE

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)

    • Fund relations with, 74-75

    • Tokyo Economic Declaration and, 2

    GENERAL ARRANGEMENTS TO BORROW (GAB), 65, 65n, 85t, 144-45

    • See also BORROWING BY FUND

    GENERAL RESOURCES ACCOUNT TRANSACTIONS

    • Assessments, 87t, 88t

    • Borrowing by Fund, 86t

    • Charges, 69, 71, 88t, 143

    • Deferred income, definition of, 49, 98, 143

    • Fund credit outstanding, 85t

    • Interest payments received on, 87t, 88t

    • Overdue financial obligations: charges, 49, 71, 98-99, 143-44

    • Purchases by members, 47, 49c, 50t, 63, 85t, 87t, 140-43, 150t

    • Quota payments, 87t, 146t

    • Remuneration, 69-70, 71, 87t, 143; rate of, 69, 70, 71, 72c, 93t

    • Repurchases by members, 47, 49c, 50t, 81t 83t, 85t, 87t; overdue, charges on, 87t, 99

    • SDRs, 66-68, 141-42; holdings, 85t, 88t; reduction in Fund’s and increase of participants’ and prescribed holders’, 66-67; receipt of, 87t, 88t; transactions in, 66, 87t, 88t; transfers of, 66-68, 87t, 88t

    • Usable currencies, 85t(n)

    • Use of Fund credit, 50t, 143

    GERMANY, FEDERAL REPUBLIC OF

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 1, 4t, 17t, 23, 23c, 24, 38

    • Deficit, reduction of, 3

    • Economic policies, 1, 2, 3

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c; stability of, 38

    • Fiscal policy, 3, 4t, 36, 38

    • Group of Five, 2

    • Inflation, 9, 9c

    • Interest rates, 6c, 37, 72c

    • Louvre Accord, 1, 2, 3, 5, 22, 35-36, 37, 38, 40

    • Monetary aggregates, 5t; policy, 38

    • Output, 1, 5t, 7, 7t

    • Plaza Accord, 1, 2, 3, 5, 21, 40

    • Prices, 7t, 9c

    • Role of deutsche mark as reserve currency, 60t, 61t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Trade, terms of, 15, 37-38

    • Unemployment, 8c

    GHANA

    • Exchange arrangements, 25, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    GOLD

    • Convertibility, 45

    • Fund holdings, 64n, 85t, 142

    • Market price, 57-59, 58t

    • Official holdings, 57, 58t, 59

    • Reserves, 17n, 58t

    GREECE

    • Exchange arrangements, 77t

    • SDRs, 88t

    GRENADA

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    GROUP OF FIVE

    • Exchange market intervention, 2

    • Plaza Accord, 1, 2, 3, 21, 40

    GROUP OF SEVEN

    • Tokyo Economic Declaration, 1, 2, 31-32

    • Venice Economic Declaration, 1, 2, 32, 40, 41

    GUATEMALA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    GUINEA

    • Exchange arrangements, 25, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    GUINEA-BISSAU

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    GUYANA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Ineligibility to use Fund resources, 49

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    HAITI

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    HEAVILY INDEBTED COUNTRIES

    • See DEVELOPING COUNTRIES, OTHER

    HONDURAS

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    HUNGARY

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    ICELAND

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    INCOME AND EXPENSES OF FUND

    • See FINANCES OF FUND

    INDIA

    • Classification, 173

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Structural adjustment facility, eligibility for assistance and intention not to use, 42, 66

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    INDONESIA

    • Exchange arrangements, 77t

    • SDRs, 88t

    INDUSTRIAL COUNTRIES

    • Balance of payments, 1, 3, 4t, 15, 17t, 23, 23c, 35-36

    • Capital markets, 18

    • Classification, 171

    • Deficits, fiscal, 3

    • Economic policies, declarations of, 1, 2, 31-32, 36

    • European Monetary System, 22

    • Exchange rates, effective, 3, 5, 20c

    • Fiscal policies, 3, 4, 4t

    • Group of Five, 2

    • Group of Seven, 2

    • Inflation, 3, 8-9, 9c, 35

    • Interest rates, 4-5, 6c, 15, 21, 21c, 35

    • International accords, 2

    • International reserves, 18, 19t, 46

    • Louvre Accord, 1, 2, 3, 5, 22, 35-36, 37, 38, 40

    • Monetary aggregates, 5t

    • Output, 1, 5, 5t, 7, 7t, 8, 35, 40

    • Plaza Accord, 1, 2, 3, 21, 40

    • Prices, 7t, 9c, 14

    • Purchases from Fund, 50t

    • SDRs, 92t

    • Trade: exports, 1, 16t; imports, 16t; protectionism, 33-34; terms of, 1,5, 15, 16t

    • Unemployment, 8

    • Wages, 9

    INTERIM COMMITTEE

    • Communiqués, 109-117

    • Consultations: support for use of indicators and policy interactions in, 31, 35

    • Debt strategy, role in, 41

    • Enlarged access policy, recommendations on, 48

    • SDR: allocations and role of, review of, 46

    • Structural adjustment facility, report to Executive Board to suggest use of Trust Fund resources for, 42

    • Surveillance over exchange rate policies, review of, 33; use of indicators, discussion of, 33

    • World economic outlook, suggestions on review of, 32, 35

    INTERNATIONAL ACCORDS

    • Louvre Accord, 1, 2, 3, 5, 22, 35-36, 37, 38, 40

    • Plaza Accord, 1, 2, 3, 21, 40

    • Tokyo Economic Declaration, 1, 2, 31-32

    • Venice Economic Declaration, 1, 2, 32, 40, 41, 43

    INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

    • See WORLD BANK

    INTERNATIONAL COOPERATION

    • Fund’s role in, 36

    • Declarations of, 1, 2, 31-32, 40, 41, 43

    • Fund-Bank collaboration, 40, 42-43, 44-45, 74-75

    • Japan and the United States, 21, 22

    INTERNATIONAL ORGANIZATIONS

    • Fund relations with, 74-75

    • International Development Association, loans to low-income countries, 42

    • SDR as unit of account for, 68, 68n

    • SDRs, prescribed holders of, 66n

    • See also DEVELOPING COUNTRIES and INDUSTRIAL COUNTRIES: Balance of payments

    INTERNATIONAL RESERVES

    • Accumulation, 17, 19t, 46

    • Adequacy, 45-46

    • Bonds, 17

    • Changes in, 57, 59, 60t

    • Currency diversification, 19, 19n, 59, 60t, 61t 62t

    • Distribution, 46-47, 58t

    • Evolution of, 46, 57

    • Foreign exchange, 17, 19, 19n, 57, 58t: currency composition, 58t, 62t; official holdings, 61t 62t; placement of official, 62, 62t

    • Fund-related assets, 57, 58t

    • Gold, 45, 57, 58t, 59

    • Holdings: by members, 92t; official, 45, 58t, 60t, 61t placement of official, 62, 62t

    • Liquidity of, 45-46

    • Management of, 46

    • Relation to trade, 46

    • Role of capital markets, 45, 46

    • SDRs as reserve assets, 47

    INTERNATIONAL TRADE

    • Balances, in developing countries, 16, 33

    • Consultation reports on trade issues, 34

    • Exchange rate effects on, 39

    • Policies, 33-34, 39

    • Prices, 16t

    • Protectionism, 33-34, 39

    • Restrictions, 33-34, 36, 39

    • Terms of trade, 26, 28

    • Value, 16t

    • Volume, 16t, 26, 28c

    IRAN, ISLAMIC REPUBLIC OF

    • Exchange arrangements, 77t

    • SDRs, 88t

    IRAQ

    • Exchange arrangements, 77t

    • SDRs, 88t

    IRELAND

    • Article VIII obligations, acceptance of, 95t

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Output, 8

    • SDRs, 88t

    • Unemployment, 8

    ISRAEL

    • Exchange arrangements, 77t

    • Inflation, 10, 13

    • SDRs, 88t

    ITALY

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 4t, 17t, 23c, 24

    • Deficit, fiscal, 3, 38

    • Economic policies, declarations of, 1, 2, 31-32, 40, 41, 43

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c

    • Fiscal policy, 3, 4t

    • Inflation, 9, 9c, 38

    • Interest rates, 6c

    • Monetary aggregates, 5t

    • Output, 5t, 7, 7t

    • Prices, 7t, 9c

    • SDRs, 88t

    • Trade, terms of, 15

    • Unemployment, 8c

    JAMAICA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    JAPAN

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 1, 4t, 17t, 23, 23c, 24, 37

    • Borrowing by Fund from, 65, 102-104

    • Deficit, fiscal, reduction of, 3

    • Economic policies, 1, 2, 3; declarations of, 1, 2, 31-32, 40, 41, 43

    • Exchange arrangements, 77t

    • Exchange rates, effective, 4, 20c; stability of, 37

    • Group of Five, 2

    • Inflation, 9, 9c, 21

    • Interest rates, 4-5, 6c, 37, 72c

    • International reserves, 60t, 611

    • Louvre Accord, 1, 2, 3, 5, 22, 35-36, 38, 40

    • Monetary aggregates, 5t; policy, 37

    • Output, 1, 5t, 7, 7t, 37

    • Plaza Accord, 1, 2, 3, 21, 40

    • Prices, 7t, 9c, 37

    • Role of yen as reserve currency, 60t, 61t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Trade: imports, 3; terms of, 15, 37

    • Unemployment, 8, 8c

    JOINT MINISTERIAL COMMITTEE OF THE BANK AND THE FUND ON THE TRANSFER OF REAL RESOURCES TO DEVELOPING COUNTRIES

    • See DEVELOPMENT COMMITTEE

    JORDAN

    • Exchange arrangements, 77t

    • SDRs, 88t

    KAMPUCHEA, DEMOCRATIC

    • Exchange arrangements, 77t(n)

    • Quota and remuneration, 71n

    • SDRs, 88t

    • Trust Fund, holdings in, 162

    KENYA

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    KIRIBATI

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Membership in Fund, 63

    • Purchases from Fund, 63, 80t

    • Quota, 63

    • SDRs, 88t

    • Structural adjustment facility, eligibility for assistance, 42, 66n, 100

    KOREA

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    KUWAIT

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    LAO PEOPLE’S DEMOCRATIC REPUBLIC

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    LEBANON

    • Exchange arrangements, 77t

    • SDRs, 88t

    LESOTHO

    • Exchange arrangements, 77t

    • SDRs, 88t

    LIBERIA

    • Exchange arrangements, 77t

    • Ineligibility to use Fund resources, 49

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    LIBYAN ARAB JAMAHIRIYA

    • Classification by Fund, 171

    • Exchange arrangements, 77t

    • SDRs, 88t

    LIQUIDITY POSITION OF FUND, 47, 48, 49, 64-65

    LOUVRE ACCORD, 1, 2, 3, 5, 35-36, 37, 38, 40

    LUXEMBOURG

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    MADAGASCAR

    • Exchange arrangements, 25, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    MALAWI

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    MALAYSIA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    MALDIVES

    • Exchange arrangements, 77t

    • SDRs, 88t

    MALI

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    MALTA

    • Exchange arrangements, 77t

    • SDRs, 88t

    MARKET BORROWERS

    • See DEVELOPING COUNTRIES

    MAURITANIA

    • Debt rescheduling, 41

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    MAURITIUS

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    MEMBERSHIP IN FUND

    • Kiribati, new member, 63

    • Poland, new member, 63

    • Tonga, new member, 63

    MEXICO

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 25, 77t

    • Extended arrangement with Fund, 82t

    • Financing, 40

    • Multiyear restructuring agreement, 42

    • Output, 11

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 63n,79t,152t

    MIDDLE EAST

    • Balance of payments, 17t, 26

    • Capital formation of developing countries, 13c

    • Classification, 171

    • Debt: and debt service ratios of developing countries, 30t; outstanding, 175t

    • Exchange rates of developing countries, 25, 25c

    • Living standards of developing countries, 12, 12c

    • Output of developing countries, 11t, 12, 12c, 175t

    • Prices of developing countries, 13t, 26

    • Purchases of developing countries from the Fund, 50t

    • Trade; exports, 175t; imports, 26, 28c

    MOROCCO

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    MOZAMBIQUE

    • Debt rescheduling, 41

    • Exchange arrangements, 77t

    • Technical assistance by Fund, 74

    NEPAL

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    NETHERLANDS

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 25

    • European Monetary System, 22

    • Exchange arrangements, 77t

    • Inflation, 9

    • Purchases from Fund, 63, 80t

    • Role of guilder as reserve currency, 60t, 61t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    NEW ZEALAND

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Inflation, 22

    • Output, 8

    • SDRs, 88t

    NICARAGUA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    NIGER

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    NIGERIA

    • Classification by Fund, 171

    • Exchange arrangements, 25, 77t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Supplementary financing facility, 86t

    NON-FUEL EXPORTERS

    • See DEVELOPING COUNTRIES

    NON-OIL DEVELOPING COUNTRIES

    • See DEVELOPING COUNTRIES

    NORWAY

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 24

    • Devaluation, 22

    • Exchange arrangements, 77t

    • Fiscal policy, 3

    • Inflation, 9

    • Output, 8

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    OFFICIAL BORROWERS

    • See DEVELOPING COUNTRIES

    OIL EXPORTING COUNTRIES

    • See DEVELOPING COUNTRIES

    OIL FACILITY

    • Borrowing by Fund for, 85t

    • General resources of Fund, use of, 48c

    • Use of Fund credit, 85t

    OMAN

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    PAKISTAN

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    PANAMA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    PAPUA NEW GUINEA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    PARAGUAY

    • Exchange arrangements, 77t

    • SDRs, 88t

    PARIS CLUB, 41, 110

    PERU

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Ineligibility to use Fund resources, 49

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    PHILIPPINES

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Multiyear restructuring agreement, 42

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    PLAZA ACCORD, 1, 2, 3, 21, 40

    POLAND

    • Exchange arrangements, 77t

    • Membership in Fund, 63, 63n

    • Purchases from Fund, 80t

    • Quota, 63

    • SDRs, 88t

    PORTUGAL

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    PRICES

    • Changes in, 7t, 13t

    • Commodity, non-oil primary, 1, 5, 9, 10, 13, 14, 15, 15c, 16t, 36, 40, 47

    • Consumer, 9c, 13t

    • Decline in, 10, 14, 15, 21, 37

    • Increase in, 8

    • Manufactures, 16t

    • Oil, 5, 9, 10, 14, 14c, 15, 16t, 21, 26

    • Trends, 3

    • Trade, 16t

    PRIMARY PRODUCT EXPORTERS

    • See DEVELOPING COUNTRIES

    PUBLICATIONS OF FUND, 75-76, 94t

    QATAR

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    QUOTAS OF FUND MEMBERS

    • Eighth General Review, 63

    • List of members, with quotas, 146t

    • New quotas established for Kiribati and

    • Poland, 63

    • Ninth General Review, 63

    • Payment in SDRs, 63

    • Total, 63, 146t

    RESERVE TRANCHE

    • Positions of members, 65, 85t; United States, 72n

    • Purchases by members, 63-64, 63n, 81t, 85t, 142-43

    ROMANIA

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    RULES AND REGULATIONS

    • Rule D-3, review of quotas, 63

    • Rule 1-6(4), reduction in rate of charge, 98, 107

    RWANDA

    • Exchange arrangements, 77t

    • SDRs, 88t

    ST. KITTS AND NEVIS

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    ST. LUCIA

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    ST. VINCENT AND THE GRENADINES

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    SÃO TOMÉ AND PRINCIPE

    • Exchange arrangements, 77t

    • SDRs, 88t

    SAUDI ARABIA

    • Article VIII obligations, acceptance of, 95t

    • Enlarged access policy, borrowing

    • agreement for, 100-102

    • Exchange arrangements, 77t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    SDRs

    • Allocations, 46-47, 66, 88t, 92t

    • Assets denomination in, 68

    • Decisions affecting operations in SDRs, 67, 67n, 99-100

    • Charges, 71, 87t, 98, 143, 155; rate of, 99

    • Holdings: by Fund, 142; reduction in, 50, 66, 87t; by members, 66-67, 88t, 92t; in General Resources Account, 88t; of prescribed holders, increase in, 66

    • Interest rate on, 71-72, 71n, 72c, 72n, 93t, 155

    • Payment of interest by Fund, use in, 67

    • Prescribed holders of, 66-67, 66n, 911

    • Purchases from Fund, 87t

    • Purposes, 68

    • Quotas, use in payment of, 87t, 146t

    • Reconstitution, 87t

    • Remuneration paid to Fund members, 71-72, 87t; rate of, 72c, 93t, 99, 143

    • Repayment of lenders by Fund, use in, 86t, 87t

    • Repurchases from Fund, 83t, 87t

    • Reserves in, 58t, 59-60, 92t

    • Transactions and operations, summary of, 88t

    • Transfers: among participants and prescribed holders, 66-68, 87t, 88t; by agreement, 66-67, 87t; to and from General Resources Account, 66, 87t; with designation, 66-67, 87t

    • Two-way arrangement with two participants, 67

    • Uses: currency peg, 68, 77t; loans and settlements, 67-68; unit of account, 68, 141-42

    • Valuation basket, adjustment of, 141-42

    SDR DEPARTMENT Operations, 67-68, 88t, 153t, 154t

    • Overdue obligations to, 49

    • Participants, 63, 66, 88t

    • Prescribed holders, 66, 66n, 911

    • Reduction in Fund’s holdings, 50, 66

    • Transfers: among participants and prescribed holders, 49, 66-68, 88t; by agreement, 49, 66-68; with designation, 49-50, 66-67, 88t

    SENEGAL

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    SERVICE AND REMITTANCE COUNTRIES

    • See DEVELOPING COUNTRIES

    SEYCHELLES

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    SIERRA LEONE

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Structural adjustment facility, arrangement with Fund, 86t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    SINGAPORE

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    SMALL LOW-INCOME COUNTRIES

    • See DEVELOPING COUNTRIES, OTHER

    SOLOMON ISLANDS

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    SOMALIA

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    SOUTH AFRICA

    • Article VIII obligations, acceptance of, 95t

    • Classification by Fund, 171

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    SPAIN

    • Article VIH obligations, acceptance of, 95t

    • Balance of payments, 25

    • Employment growth, 8

    • Exchange arrangements, 77t

    • Exchange rates, 22

    • Fiscal policy, 3

    • Output, 8

    • SDRs, 88t

    SPECIAL DRAWING RIGHTS

    • See SDRs

    SPECIAL DRAWING RIGHTS DEPARTMENT

    • See SDR DEPARTMENT

    SRI LANKA

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    STAFF OF THE FUND, 76, 145

    • Article IV consultation reports, 34, 35

    • Confidentiality of reports, 35

    • Consultations with World Bank staff, 45

    • Missions of Fund and World Bank, participation in, 45

    • Staff Retirement Plan, 145, 164-70

    • Technical assistance by, 72-74

    STAND-BY ARRANGEMENTS FOR FUND MEMBERS

    • Borrowed resources, use of, 79t

    • Commitments under, 50t, 79t, 145, 152t

    • In financial year 1986/87, 63

    • Ordinary resources, use of, 152t

    • Summary of, 79t, 811, 152t

    • Upper credit tranche, 42t

    STRUCTURAL ADJUSTMENT FACILITY

    • Collaboration with World Bank, 42-43

    • Disbursements, 47, 48c(n), 68n

    • Eligibility of members for assistance, 42, 66, 100

    • Establishment, 42, 65

    • Innovative features, 42-43

    • List of members eligible for assistance, 100

    • Purposes, 42, 65-66

    • Resources for, 42, 43

    • Review of, 66

    SUB-SAHARAN AFRICA

    • See DEVELOPING COUNTRIES, OTHER

    SUDAN

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Ineligibility to use Fund resources, 49

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    SUPPLEMENTARY FINANCING FACILITY

    • Borrowing by Fund for, 65, 85t, 144

    • Disbursements, 93t, 106t, 108t

    • General resources of Fund, use of, 48c

    • Purchases by members, 93t, 150t

    • Purpose, 140-41

    • Repayments by Fund to lenders, 151t

    • Repurchases by members, 83t

    • Subsidy Account, 69, 93t, 104-108, 156t, 157t, 158; donations to, 93t; establishment, 69, 158; Executive Board decisions on, 104-108; investment, 157t; means of subsidy payments, 158; use of SDRs in payment of subsidy, 69, 93t, 157t

    • Subsidy payments, 93t, 104-108, 157t, 158

    • Switzerland, lending for, 86t

    • Use of Fund credit, 85t, 143

    SURINAME

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    SURVEILLANCE OVER EXCHANGE RATE POLICIES

    • Article IV: consultations’ role in, 31-32, 34-35; reports, confidentiality and content of, 34, 35

    • Enhanced surveillance, proposals for, 41-42

    • Executive Board decisions on, 31n

    • Executive Board review of, 96

    • In financial year 1986/87, 31-34, 35-39

    • Multilateral surveillance, strengthening of, 1, 2, 34, 35-39

    • Procedures for, implementation of, 4, 34, 96

    • Protectionism, role in, 33-34

    • Trade policy and protectionism, 33-34

    • World economic outlook exercise’s role in, 32, 33, 35-39

    SWAZILAND

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    SWEDEN

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Fiscal policy, 3

    • SDRs, 88t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    SWITZERLAND

    • Balance of payments, 25

    • Inflation, 9

    • International reserves, 60t

    • Prescribed holder of SDRs, 66n, 91t

    • Role of franc as reserve currency, 60t

    • SDRs, 88t; prescribed holder of, 66n, 91t Supplementary financing facility, 86t

    • Supplementary Financing Facility Subsidy Account, contribution to, 93t

    SYRIAN ARAB REPUBLIC

    • Exchange arrangements, 77t

    • SDRs, 88t

    TANZANIA

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    TECHNICAL ASSISTANCE BY FUND, 72-74

    THAILAND

    • Exchange arrangements, 77t

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    TOGO

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    TOKYO ECONOMIC DECLARATION, 1, 2, 31-32

    TONGA

    • Exchange arrangements, 77t

    • Membership in Fund, 63

    • Quota, 63

    • SDRs, 88t

    • Structural adjustment facility, eligibility for assistance, 42, 66n, 100

    TRINIDAD AND TOBAGO

    • Exchange arrangements, 77t

    • Output, 11

    • SDRs, 88t

    TRUST FUND

    • Borrowing, 159t, 162-63

    • Distribution of profits from sale of gold by

    • Fund, 162

    • Loans, 159t

    • Overdue payments, 49, 162

    • Purpose, 162

    • Repayment by members, 162; overdue, 162

    • Resources, change in, 161t, 162-63

    • Special Disbursement Account, 141, 161t

    • Structural adjustment facility, resources from repayments of Trust Fund loans, 42, 43

    • Termination, 163

    • See also SUPPLEMENTARY FINANCING FACILITY: Subsidy Account

    TUNISIA

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    TURKEY

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    UGANDA

    • Debt rescheduling, 41

    • Exchange arrangements, 77t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    UNITED ARAB EMIRATES

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    UNITED KINGDOM

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 4t, 17t, 23, 23c, 24

    • Deficit, fiscal, 38

    • Economic policies, 1, 2; declarations of, 1, 2, 31-32, 40, 41, 43

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c

    • Fiscal policy, 3, 4t

    • Group of Five, 2

    • Inflation, 9, 9c, 38

    • Interest rates, 5, 6c, 22, 72c

    • Louvre Accord, 1, 2, 3, 5, 22, 35-36, 37, 38, 40

    • Monetary aggregates, 5t; policy, 38

    • Output, 5t, 7, 7t

    • Plaza Accord, 1, 2, 3, 21, 40

    • Prices, 7t, 9c

    • Role of pound sterling as reserve currency, 60t, 61t SDRs, 88t

    • Unemployment, 8, 8c, 38

    UNITED STATES

    • Article VIII obligations, acceptance of, 95t

    • Balance of payments, 1, 17t, 23, 23c, 24, 37

    • Debt initiative of U.S. Treasury, 3, 21, 40

    • Deficit, fiscal, 3, 21, 23, 35-36, 37

    • Economic policies, 37; declarations of, 1, 2, 31-32, 40, 41, 43

    • Exchange arrangements, 77t

    • Exchange rates, effective, 20c; stability of, 37

    • Fiscal policy, 3, 4t, 5, 37

    • Fixed investment, 7

    • Group of Five, 2

    • Inflation, 9, 9c, 37

    • Interest rates, 5, 6c, 37, 72c

    • Monetary aggregates, 5t

    • Output, 7, 7t

    • Plaza Accord, 1, 2, 3, 21, 40

    • Prices, 7t, 9, 9c, 37

    • Role of dollar as reserve currency, 19, 60t, 61t

    • SDRs, 88t

    • Supplementary financing facility, 86t

    • Trade, 37; protectionist pressures, 37

    • Use of dollar as currency peg, 39, 77t; as reserve currency, 60t, 61t

    • Unemployment, 8, 8c, 36

    URUGUAY

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • Multiyear restructuring agreement, 42

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    VANUATU

    • Article VIII obligations, acceptance of, 95t

    • Exchange arrangements, 77t

    • SDRs, 88t

    VENEZUELA

    • Article VIII obligations, acceptance of, 95t

    • Enhanced surveillance by Fund, 42

    • Exchange arrangements, 77t

    • Exchange rates, 25

    • Multiyear restructuring agreement, 42

    • Output, 11

    • SDRs, 88t

    • Supplementary financing facility, 86t

    VENICE ECONOMIC DECLARATION, 1, 2, 32, 40, 41, 43

    VIET NAM

    • Exchange arrangements, 77t

    • Ineligibility to use Fund resources, 49

    • SDRs, 88t

    WESTERN HEMISPHERE

    • Balance of payments, developing countries, 17t, 27c

    • Capital formation, developing countries, 13c

    • Debt, developing countries, 12; and debt-service ratios, 30t; outstanding, 175t

    • Exchange rates, developing countries, 25, 25c

    • Investment, 12

    • Living standards, developing countries, 12, 12c

    • Output, developing countries, 1, 10, 11t, 12c, 175t

    • Prices, developing countries, 13t

    • Purchases from Fund, developing countries, 50t

    • SDRs, holdings of, 67

    • Trade, developing countries: balance, 27c; exports, 175t; imports, 26, 28c

    WESTERN SAMOA

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    WORLD BANK

    • Fund collaboration with, 40, 42-43, 44-45, 74-75

    • Fund relations with, 44-45, 74-75

    • SDRs: prescribed holder of, 66n, 91t; use as unit of account, 68

    YEMEN ARAB REPUBLIC

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    YEMEN, PEOPLE’S DEMOCRATIC REPUBLIC OF

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    YUGOSLAVIA

    • Enhanced surveillance by Fund, 42

    • Exchange arrangements, 77t

    • Multiyear restructuring agreement, 42; extension, 42

    • Purchases from Fund, 63, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t

    ZAÏRE

    • Debt rescheduling, 41

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Purchases from Fund, 80t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 63, 79t

    ZAMBIA

    • Exchange arrangements, 77t

    • Extended arrangement with Fund, 82t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    • Stand-by arrangement with Fund, 79t, 152t

    • Supplementary Financing Facility Subsidy Account, beneficiary, 93t, 106t, 108t

    ZIMBABWE

    • Exchange arrangements, 77t

    • Repurchases from Fund, 83t

    • SDRs, 88t

    1

    Note:

    Appendix VII to the Annual Report, 1987 has been revised to include the Administrative Budget for the financial year ending April 30, 1988 and the Capital Budget for capital projects beginning in financial year 1988, which were not included in previously distributed copies of the Annual Report. A revised page is attached.

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