Back Matter

Author(s):
International Monetary Fund. Monetary and Capital Markets Department
Published Date:
January 1991
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    APPENDIX European Economic Community: Trade Measures Introduced and Eliminated on an EEC-Wide Basis During 19901

    Antidumping Duties

    1. Introduction

    January 16. Definitive antidumping duty was imposed on imports of certain compact disc players originating in Japan and the Republic of Korea (Council Regulation No. 112/90).

    January 23. Provisional antidumping duty was imposed on imports of electronic microcircuits known as DRAMs (dynamic random access memories) originating in Japan (Commission Regulation No. 165/95).

    February 5. Definitive antidumping duty was imposed on imports of ferrosilicon originating in Iceland, Norway/Sweden, Venezuela, and Yugoslavia (Council Regulation No. 341/90).

    February 12. Definitive antidumping duty was imposed on imports of potassium permanganate originating in Czechoslovakia (Council Regulation No. 385/90).

    March 2. Provisional antidumping duty was imposed on imports of glutamic acid and its salts originating in Indonesia, the Republic of Korea, Taiwan Province of China, and Thailand (Commission Regulation No. 547/90).

    March 16. Provisional antidumping duty was imposed on imports of ferroboron alloy originating in Japan (Commission Regulation No. 665/90).

    March 22. Provisional antidumping duty was imposed on imports of silicon metal originating in the People’s Republic of China (Commission Regulation No. 720/90).

    March 26. Provisional antidumping duty was imposed on imports of tungsten carbide and fused tungsten carbide originating in the People’s Republic of China (Commission Regulation No. 736/90).

    March 26. Provisional antidumping duty was imposed on imports of tungstic oxide and tungstic acid originating in the People’s Republic of China (Commission Regulation No. 762/90).

    March 26. Provisional antidumping duty was imposed on imports of tungsten ores and concentrates originating in the People’s Republic of China (Commission Regulation No. 761/90).

    April 2. Definitive antidumping duty was imposed on imports of certain welded tubes of iron or nonalloy steel originating in Romania and Yugoslavia (Council Regulation No. 868/90).

    April 25. Definitive antidumping duty was imposed on imports of small-screen color television receivers originating in the Republic of Korea (Council Regulation No. 1048/90).

    May 21. Provisional antidumping duty was imposed on imports of certain types of DRAMs originating in Japan (Council Regulation No. 1361/90).

    May 28. Provisional antidumping duty was imposed on imports of potassium permanganate originating in the U.S.S.R. (Commission Regulation No. 1537/90).

    June 13. Provisional antidumping duty was imposed on imports of ball bearings with a greatest external diameter not exceeding 30 mm originating in Thailand (Commission Regulation No. 1613/90).

    June 27. Definitive antidumping duty was imposed on imports of monosodium glutamate originating in Indonesia, the Republic of Korea, Taiwan Province of China, and Thailand (Council Regulation No. 1798/90).

    July 4. Provisional antidumping duty was imposed on imports of pure silk typewriter ribbon fabrics originating in the People’s Republic of China (Commission Regulation No. 1937/90).

    July 16. Definitive antidumping duty was imposed on imports of ferroboron originating in Japan (Council Regulation No. 2036/90).

    July 17. Provisional antidumping duty was imposed on imports of woven polyolefin sacks originating in the People’s Republic of China (Commission Regulation No. 2051/90).

    July 17. Provisional antidumping duty was imposed on imports of linear tungsten halogen lamps originating in Japan (Commission Regulation No. 2064/90).

    July 23. Definitive antidumping duty was imposed on imports of certain types of DRAMs originating in Japan (Council Regulation No. 2112/90).

    July 27. Definitive antidumping duty was imposed on imports of silicon metal originating in the People’s Republic of China (Council Regulation No. 2200/90).

    September 24. Definitive antidumping duty was imposed on imports of tungsten carbide and fused tungsten carbide originating in the People’s Republic of China (Council Regulation No. 2737/90).

    September 24. Definitive antidumping duty was imposed on imports of tungstic oxide and tungstic acid originating in the People’s Republic of China (Council Regulation No. 2736/90).

    September 24. Definitive antidumping duty was imposed on imports of tungsten ores and concentrates originating in the People’s Republic of China (Council Regulation No. 2735/90).

    October 9. Definitive antidumping duty was imposed on imports of ball bearings with a greatest external diameter not exceeding 30 mm originating in Thailand (Council Regulation No. 2934/90).

    November 5. Definitive antidumping duty was imposed on imports of pure silk typewriter ribbon fabrics originating in the People’s Republic of China (Council Regulation No. 3200/90).

    November 5. Provisional antidumping duty was imposed on imports of audio tapes in cassettes originating in Japan, the Republic of Korea, and Hong Kong (Commission Regulation No. 3262/90).

    November 15. Definitive antidumping duty was imposed on imports of woven polyolefin sacks originating in the People’s Republic of China (Council Regulation No. 3308/90).

    November 26. Provisional antidumping duty was imposed on imports of aspartame originating in Japan (Commission Regulation No. 3421/90).

    December 11. Provisional antidumping duty was imposed on imports of certain welded tubes of iron or nonalloy steel originating in Turkey and Venezuela (Commission Regulation No. 3617/90).

    December 21. Provisional antidumping duty was imposed on imports of espadrilles originating in the People’s Republic of China (Commission Regulation No. 3798/90).

    2. Extension

    February 5. Provisional antidumping duty on imports of welded tubes and iron or nonalloy steel, originating in Romania and Yugoslavia was extended (Council Regulation No. 342/90).

    February 12. Provisional antidumping duty on imports of small-screen color television receivers originating in the Republic of Korea was extended (Council Regulation No. 374/90).

    July 23. Provisional antidumping duty on imports of tungsten ores and concentrates originating in the People’s Republic of China was extended (Council Regulation No. 2128/90).

    July 23. Provisional antidumping duty on imports of tungsten carbide and fused tungsten carbide originating in the People’s Republic of China was extended (Council Regulation No. 2127/90).

    July 23. Provisional antidumping duty on imports of tungstic oxide and tungstic acid originating in the People’s Republic of China was extended (Council Regulation No. 2126/90).

    October 5. Provisional antidumping duty on imports of potassium permanganate originating in the U.S.S.R. was extended (Council Regulation No. 2896/90).

    November 15. Provisional antidumping duty on imports of linear tungsten halogen lamps originating in Japan was extended (Council Regulation No. 3307/90).

    3. Elimination

    February 26. Definitive antidumping duty on imports of vinyl acetate monomer originating in Canada and the United States was eliminated (Council Regulations No. 1826/90 and No. 1282/81).

    July 26. Antidumping duty on imports of certain single-phase, two-speed electric motors originating in Bulgaria, Czechoslovakia, and Romania was eliminated (Council Regulation No. 90/399/EEC).

    September 17. Definitive antidumping duty on imports of mechanical wristwatches originating in the U.S.S.R. was eliminated (Council Regulation No. 2686/90).

    Countervailing Charges

    1. Introduction

    January 3. Countervailing charge was imposed on imports of fresh clementines originating in Turkey (Commission Regulation No. 6/90).

    January 22. Countervailing charge was imposed on imports of artichokes originating in Egypt (Commission Regulation No. 156/90).

    January 25. Countervailing charge was imposed on imports of cabbage lettuces originating in the United States (Commission Regulation No. 193/90).

    January 26, Countervailing charge was imposed on imports of fresh lemons originating in Turkey (Commission Regulation No. 228/90).

    February 1. Countervailing charge was imposed on imports of cabbage lettuces originating in the United States (Commission Regulation No. 293/90).

    February 2. Countervailing charge was imposed on imports of fresh lemons originating in Morocco (Commission Regulation No. 303/90).

    February 13. Countervailing charge was imposed on imports of artichokes originating in Egypt (Commission Regulation No. 372/90).

    February 13. Countervailing charge was imposed on imports of fresh lemons originating in Morocco (Commission Regulation No. 373/90).

    February 21. Countervailing charge was imposed on imports of fresh lemons originating in Cyprus (Commission Regulation No. 440/90).

    March 16. Countervailing charge was imposed on imports of cabbage lettuces originating in the United States (Commission Regulation No. 655/90).

    March 19. Countervailing charge was imposed on imports of fresh lemons originating in Turkey (Commission Regulation No. 671/90).

    March 29. Countervailing charge was imposed on imports of cucumbers originating in Bulgaria (Commission Regulation No. 785/90).

    April 9. Countervailing charge was imposed on imports of tomatoes originating in the Canary Islands (Commission Regulation No. 912/90).

    April 11. Countervailing charge was imposed on imports of fresh lemons originating in Israel (Commission Regulation No. 954/90).

    April 11. Countervailing charge was imposed on imports of tomatoes originating in Morocco (Commission Regulation No. 953/90).

    April 17. Countervailing charge was imposed on imports of tomatoes originating in Israel (Commission Regulation No. 966/90).

    April 20. Countervailing charge was imposed on imports of fresh lemons originating in Israel (Commission Regulation No. 1002/90).

    April 25. Countervailing charge was imposed on imports of tomatoes originating in Turkey (Commission Regulation No. 1026/90).

    April 27. Countervailing charge was imposed on imports of eggplants originating in the Canary Islands. (Commission Regulation No. 1081/90).

    April 27. Countervailing charge was imposed on imports of tomatoes originating in Albania (Commission Regulation No. 1083/90).

    May 10. Countervailing charge was imposed on imports of tomatoes originating in the Canary Islands (Commission Regulation No. 1227/90).

    May 23. Countervailing charge was imposed on imports of tomatoes originating in Albania. (Commission Regulation No. 1398/90).

    May 29. Countervailing charge was imposed on imports of tomatoes originating in Portugal (Commission Regulation No. 1433/90).

    June 21. Countervailing charge was imposed on imports of tomatoes originating in Poland (Commission Regulation No. 1687/90).

    June 21. Countervailing charge was imposed on imports of cucumbers originating in Poland (Commission Regulation No. 1686/90).

    June 22. Countervailing charge was imposed on imports of tomatoes originating in Albania (Commission Regulation No. 1711/90).

    June 22. Countervailing charge was imposed on imports of cherries originating in Bulgaria (Commission Regulation No. 1712/90).

    June 25. Countervailing charge was imposed on imports of tomatoes originating in Portugal (Commission Regulation No. 1727/90).

    June 28. Countervailing charge was imposed on imports of fresh lemons originating in Argentina (Commission Regulation No. 1788/90).

    July 3. Countervailing charge was imposed on imports of fresh lemons originating in Uruguay (Commission Regulation No. 1883/90).

    July 11. Countervailing charge was imposed on imports of cherries originating in the Islamic Republic of Iran (Commission Regulation No. 1993/90).

    August 14. Countervailing charge was imposed on imports of table grapes originating in Turkey (Commission Regulation No. 2386/90).

    August 17. Countervailing charge was imposed on imports of certain varieties of plum originating in Bulgaria. (Commission Regulation No. 2410/90).

    August 30. Countervailing charge was imposed on imports of certain varieties of plum originating in Bulgaria (Commission Regulation No. 2503/90).

    September 4. Countervailing charge was imposed on imports of certain varieties of plum originating in Hungary (Commission Regulation No. 2559/90).

    September 21. Countervailing charge was imposed on imports of certain varieties of plum originating in Hungary (Commission Regulation No. 2714/90).

    September 27. Countervailing charge was imposed on imports of fresh lemons originating in Turkey (Commission Regulation No. 2792/90).

    October 8. Countervailing charge was imposed on imports of apples originating in South Africa (Commission Regulation No. 2904/90).

    October 8. Countervailing charge was imposed on imports of tomatoes originating in Poland (Commission Regulation No. 2905/90).

    October 17. Countervailing charge was imposed on imports of apples originating in South Africa (Commission Regulation No. 2999/90).

    November 26. Countervailing charge was imposed on imports of fresh lemons originating in Turkey (Commission Regulation No. 3397/90).

    December 5. Countervailing charge was imposed on imports of fresh clementines originating in Morocco (Commission Regulation No. 3519/90).

    2. Amendment

    February 6. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 316/90).

    February 12. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 366/90).

    February 19. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 228/90).

    February 20. Countervailing charge on imports of artichokes originating in Egypt was amended (Commission Regulation No. 432/90).

    February 23. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 473/90).

    February 28. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 530/90).

    March 1. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 535/90).

    March 7. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 584/90).

    March 13. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 609/90).

    March 19. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 672/90).

    March 26. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 725/90).

    March 29. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 782/90).

    April 5. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 873/90).

    April 9. Countervailing charge on imports of fresh lemons originating in Cyprus was amended (Commission Regulation No. 907/90).

    April 19. Countervailing charge on imports of fresh lemons originating in Turkey was amended (Commission Regulation No. 989/90).

    June 7. Countervailing charge on imports of tomatoes originating in Portugal was amended (Commission Regulation No. 1543/90).

    July 5. Countervailing charge on imports of fresh lemons originating in Argentina was amended (Commission Regulation No. 1920/90).

    July 10. Countervailing charge on imports of fresh lemons originating in Uruguay was amended (Commission Regulation No. 1970/90).

    July 11. Countervailing charge on imports of fresh lemons originating in Argentina was amended (Commission Regulation No. 1992/90).

    July 18. Countervailing charge on imports of fresh lemons originating in Argentina was amended (Commission Regulation No. 2054/90).

    August 20. Countervailing charge on imports of table grapes originating in Cyprus was amended (Commission Regulation No. 2419/90).

    August 24. Countervailing charge on imports of table grapes originating in Cyprus was amended (Commission Regulation No. 2462/90).

    September 13. Countervailing charge on imports of certain varieties of plum originating in Hungary was amended (Commission Regulation No. 2638/90).

    October 16. Countervailing charge on imports of tomatoes originating in Poland was amended (Commission Regulation No. 2990/90).

    December 27. Countervailing charge on imports of fresh clementines originating in Morocco was amended (Commission Regulation No. 3519/90).

    3. Elimination

    January 4. Countervailing charge on imports of fresh clementines originating in Tunisia was eliminated (Commission Regulation No. 17/90).

    January 29. Countervailing charge on imports of artichokes originating in Egypt was eliminated (Commission Regulation No. 237/90).

    February 1. Countervailing charge on imports of fresh clementines originating in Turkey was eliminated (Commission Regulation No. 292/90).

    February 7. Countervailing charge on imports of cabbage lettuces originating in the United States was eliminated (Commission Regulation No. 328/90).

    March 22. Countervailing charge on imports of cabbage lettuces originating in the United States was eliminated (Commission Regulation No. 699/90).

    March 23. Countervailing charge on imports of fresh sweet oranges originating in Egypt was eliminated (Commission Regulation No. 711/90).

    April 17. Countervailing charge on imports of cucumbers originating in Bulgaria was eliminated (Commission Regulation No. 965/90).

    April 17. Countervailing charge on imports of fresh lemons originating in Cyprus was eliminated (Commission Regulation No. 963/90).

    April 18. Countervailing charge on imports of tomatoes originating in the Canary Islands was eliminated (Commission Regulation No. 976/90).

    April 19. Countervailing charge on imports of tomatoes originating in Morocco was eliminated (Commission Regulation No. 988/90).

    April 24. Countervailing charge on imports of tomatoes originating in Israel was eliminated (Commission Regulation No. 1015/90).

    April 27. Countervailing charge on imports of fresh lemons originating in Turkey was eliminated (Commission Regulation No. 1082/90).

    May 7. Countervailing charge on imports of tomatoes originating in Turkey was eliminated (Commission Regulation No. 1160/90).

    May 8. Countervailing charge on imports of eggplants originating in the Canary Islands was eliminated (Commission Regulation No. 1173/90).

    May 10. Countervailing charge on imports of tomatoes originating in Albania was eliminated (Commission Regulation No. 1226/90).

    May 18. Countervailing charge on imports of tomatoes originating in Morocco was eliminated (Commission Regulation No. 1311/90).

    May 29. Countervailing charge on imports of tomatoes originating in Morocco was eliminated (Commission Regulation No. 1432/90).

    June 11. Countervailing charge on imports of tomatoes originating in Albania was eliminated (Commission Regulation No. 1566/90).

    June 14. Countervailing charge on imports of tomatoes originating in Portugal was eliminated (Commission Regulation No. 1601/90).

    July 2. Countervailing charge on imports of tomatoes originating in Poland was eliminated (Commission Regulation No. 1871/90).

    July 2. Countervailing charge on imports of cucumbers originating in Poland was eliminated (Commission Regulation No. 1872/90).

    July 4. Countervailing charge on imports of cherries originating in Poland was eliminated (Commission Regulation No. 1900/90).

    July 5. Countervailing charge on imports of tomatoes originating in Portugal was eliminated (Commission Regulation No. 1919/90).

    July 17. Countervailing charge on imports of cherries originating in Iran was eliminated (Commission Regulation No. 2035/90).

    July 20. Countervailing charge on imports of fresh lemons originating in Uruguay was eliminated (Commission Regulation No. 2088/90).

    July 24. Countervailing charge on imports of fresh lemons originating in Argentina was eliminated (Commission Regulation No. 2119/90).

    July 31. Countervailing charge on imports of fresh lemons originating in Argentina was eliminated (Commission Regulation No. 2255/90).

    August 3. Countervailing charge on imports of fresh lemons originating in Argentina was eliminated (Commission Regulation No. 2310/90).

    August 16. Countervailing charge on imports of fresh lemons originating in Argentina was eliminated (Commission Regulation No. 2401/90).

    August 20. Countervailing charge on imports of table grapes originating in Turkey was eliminated (Commission Regulation No. 2418/90).

    August 28. Countervailing charge on imports of fresh lemons originating in Argentina was eliminated (Commission Regulation No. 2479/90).

    August 30. Countervailing charge on imports of table grapes originating in Cyprus was eliminated (Commission Regulation No. 2502/90).

    August 31. Countervailing charge on imports of certain varieties of plum originating in Romania was eliminated (Commission Regulation No. 2546/90).

    September 7. Countervailing charge on imports of certain varieties of plum originating in Romania was eliminated (Commission Regulation No. 2605/90).

    October 5. Countervailing charge on imports of fresh lemons originating in Turkey was eliminated (Commission Regulation No. 2893/90).

    October 26. Countervailing charge on imports of tomatoes originating in Poland was eliminated (Commission Regulation No. 3111/90).

    Community Tariff Quotas

    Establishment

    March 5. Community tariff quota was established on imports of Chinese cabbages originating in the Canary Islands (Council Regulation No. 565/90).

    March 12. Community tariff quota was established on imports of quality wines originating in the specified regions of Jerez, Malaga, Jumilla, Priorato, Rioja, and Valdepeñas (Council Regulation No. 626/90).

    March 2. Community tariff quota was established on imports of cut flowers and flower buds, fresh, originating in Cyprus, Israel, Jordan, and Morocco (Council Regulation No. 728/90).

    March 22. Community tariff quota was established on imports of certain wines originating in Morocco (Council Regulation No. 727/90).

    March 22. Community tariff quota was established on imports of apricot pulp originating in Turkey (Council Regulation No. 726/90).

    April 2. Community tariff quota was established on imports of hexachlorocyclohexane falling under CN Code 2903–51-00 originating in China (Commission Regulation No. 847/90).

    May 7. Community tariff quota was established on imports of certain quality wines and sparkling wines originating in Austria (Council Regulation No. 1255/90).

    May 7. Community tariff quota was established on imports of certain agricultural and chemical products falling under CN Code 09–2701 (Council Regulation No. 1256/90).

    May 7. Community tariff quota was established on imports of certain agricultural products originating in Cyprus, Morocco, and Israel (Council Regulation No. 1275/90).

    June 18. Community tariff quota was established on imports of herrings, fresh or chilled, originating in Sweden (Council Regulation No. 1654/90).

    June 18. Community tariff quota was established on imports of certain textile products originating in Yugoslavia (Commission Regulation No. 1645/90).

    June 20. Community tariff quota was established on imports of certain agricultural products originating in the African, Caribbean, and Pacific (ACP) States (Commission Regulation No. 1664/90).

    June 27. Community tariff quota was established on imports of rum, tafia, and arrack originating in the overseas countries (Council Regulation No. 1800/90).

    June 27. Community tariff quota was established on imports of rum, tafia, and arrack originating in the African, Caribbean, and Pacific (ACP) States (Council Regulation No. 1799/90).

    November 5. Community tariff quota was established on imports of dried figs originating in Spain (Council Regulation No. 3229/90).

    November 5. Community tariff quota was established on imports of certain kinds of prepared or preserved tuna originating in Portugal (Council Regulation No. 3228/90).

    November 8. Community tariff quota was established on imports of ferrochromium containing more than 6 percent by weight of carbon (Council Regulation No. 3273/90).

    November 19. Community tariff quota was established on imports of beer made from malt originating in Malta (Council Regulation No. 3346/90).

    November 19. Community tariff quota was established on imports of frozen peas originating in Sweden (Council Regulation No. 3403/90).

    November 19. Community tariff quota was established on imports of certain products originating in Yugoslavia (Council Regulation No. 3413/90).

    November 19. Community tariff quota was established on imports of fresh or dried hazelnuts, shelled and unshelled, originating in Turkey (Council Regulation No. 3348/90).

    November 19. Community tariff quota was established on imports of certain agricultural products originating in Cyprus (Council Regulation No. 3347/90).

    December 4. Community tariff quota was established on imports of certain agricultural and fishery products originating in certain EFT A countries (Council Regulation No. 3523/90).

    Preferential Customs Duties

    1. Suspension (and reintroduction of Common Customs Tariff duty)

    January 9. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of small-flowered roses originating in Morocco (Commission Regulation No. 42/90).

    January 22. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of large roses originating in Morocco (Commission Regulation No. 152/90).

    February 12. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of large roses originating in Morocco (Commission Regulation No. 363/90).

    March 2. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of small-flowered roses originating in Israel (Commission Regulation No. 543/90).

    March 2. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of large-flowered roses originating in Morocco (Commission Regulation No. 544/90).

    May 8. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of uniflorous (standard) carnations originating in Israel (Commission Regulation No. 1178/90).

    November 19. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of multiflorous (spray) carnations originating in Israel (Commission Regulation No. 3329/90).

    November 19. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of small-flowered roses originating in Israel (Commission Regulation No. 3330/90).

    December 7. Preferential customs duty was suspended, and Common Customs Tariff duty was reintroduced on imports of small-flowered roses originating in Israel (Commission Regulation No. 3548/90).

    2. Re-establishment

    January 22. Preferential customs duty was reestablished on imports of small-flowered roses originating in Morocco (Commission Regulation No. 153/90).

    January 31. Preferential customs duty was reestablished on imports of large-flowered roses originating in Morocco (Commission Regulation No. 277/90).

    February 19. Preferential customs duty was reestablished on imports of large-flowered roses originating in Morocco (Commission Regulation No. 422/90).

    April 27. Preferential customs duty was reestablished on imports of large-flowered roses originating in Morocco (Commission Regulation No. 1078/90).

    May 3. Preferential customs duty was reestablished on imports of uniflorous (bloom) carnations originating in Israel (Commission Regulation No. 1138/90).

    June 13. Preferential customs duty was reestablished on imports of uniflorous (bloom) carnations originating in Israel (Commission Regulation No. 1583/90).

    June 15. Preferential customs duty was reestablished on imports of unrecorded media falling under CN Codes 8523 and 8524 originating in the People’s Republic of China (Commission Regulation No. 1631/90).

    June 15. Preferential customs duty was reestablished on imports of dresses, blouses, and shirt-blouses of silk or of noil, or on other waste silk, of textile fabrics, and of certain products (listed in Category 159, Order No. 42.1590) originating in the People’s Republic of China (Commission Regulation No. 1639/90).

    June 27. Preferential customs duty was reestablished on imports of certain products originating in Yugoslavia (Commission Regulation No. 1753/90).

    July 11. Preferential customs duty was reestablished on imports of multiflorous (spray) carnations originating in Israel (Commission Regulation No. 1985/90).

    July 11. Preferential customs duty was reestablished on imports of large-flowered roses originating in Israel (Commission Regulation No. 1986/90).

    July 11. Preferential customs duty was reestablished on imports of small-flowered roses originating in Israel (Commission Regulation No. 1987/90).

    December 13. Preferential customs duty was reestablished on imports of uniflorous (standard) carnations originating in Israel (Commission Regulation No. 3606/90).

    December 21. Preferential customs duty was reestablished on imports of small-flowered roses originating in Israel (Commission Regulation No. 3769/90).

    Generalized Tariff Preferences

    Withdrawal

    March 30. Customs duty was re-established on imports of women’s or girls’ suits and ensembles (listed in Category 74, Order No. 40.0740) and garments (listed in Category 74, Order No. 40.0740) originating in India (Commission Regulation No. 844/90).

    March 30. Customs duty was re-established on imports of men’s or boys’ suits and ensembles (listed in Category 16, Order No. 40.0160) and women’s or girls’ suits and ensembles (listed in Category 24, Order No. 40.0740) originating in Thailand (Commission Regulation No. 842/90).

    March 30. Customs duty was re-established on imports of women’s or girls’ dresses and ensembles (listed in Category 16, Order No. 40.0260) and women’s or girls’ suits and ensembles (listed in Category 29, Order No. 40.0290) originating in Pakistan (Commission Regulation No. 843/90).

    April 2. Customs duty was re-established on imports of footwear falling under CN Codes 6401 and 6402 originating in the People’s Republic of China (Commission Regulation No. 845/90).

    April 11. Customs duty was re-established on imports of footwear falling under CN Codes 6401 and 6402 originating in Indonesia (Commission Regulation No. 938/90).

    April 11. Customs duty was re-established on imports of copper bars, rods, profiles, tubes, and pipes falling under CN Codes 7407 and 7411 originating in Mexico (Commission Regulation No. 939/90).

    April 11. Customs duty was re-established on imports of reception apparatus falling under CN Codes 8527, 8528, and 8529 originating in the People’s Republic of China (Commission Regulation No. 940/90).

    April 11. Customs duty was re-established on imports of reception apparatus falling under CN Codes 8527, 8528, and 8529 originating in Malaysia (Commission Regulation No. 941/90).

    May 8. Customs duty was re-established on imports of footwear falling under CN Codes 6404 and 6405–90-10 originating in Thailand (Commission Regulation No. 1245/90).

    May 8. Customs duty was re-established on imports of products falling under CN Code 2930–90-10 (Order No. 10.0290) originating in the People’s Republic of China (Commission Regulation No. 1244/90).

    July 11. Customs duty was re-established on imports of footwear falling under CN Codes 6401 and 6402 originating in Malaysia (Commission Regulation No. 1980/90).

    July 11. Customs duty was re-established on imports of footwear falling under CN Codes 6401 and 6402 originating in the Philippines (Commission Regulation No. 1981/90).

    July 11. Customs duty was re-established on imports of tableware falling under CN Code 6912–00-50 originating in Brazil (Commission Regulation No. 1982/90).

    August 1. Customs duty was re-established on imports of footwear falling under CN Codes 6404 and 6405–90-10 originating in the Philippines (Commission Regulation No. 2264/90).

    August 2. Customs duty was re-established on imports of synthetic camphor falling under CN Code 2914–21-00 originating in the People’s Republic of China (Commission Regulation No. 2284/90).

    September 7. Customs duty was re-established on imports of products falling under CN Code 3503–00-10 originating in Brazil (Commission Regulation No. 2600/90).

    September 17. Customs duty was re-established on imports of certain track suits (listed in Category 73, Order No. 40.0730) originating in Indonesia, the Philippines, and Pakistan (Commission Regulation No. 2664/90).

    September 17. Customs duty was re-established on imports of certain twine, cordage, ropes, and cables, of synthetic fiber (listed in Category 90, Order No. 40.0900) originating in Hungary (Commission Regulation No. 2665/90).

    September 17. Customs duty was re-established on imports of certain twine, cordage, ropes and cables, of synthetic fibers (listed in Category 90, Order No. 40.0900) and certain articles (listed in Category 98, Order No. 40.0980) originating in the People’s Republic of China (Commission Regulation No. 2666/90).

    September 17. Customs duty was re-established on imports of certain pullovers and similar knitted or crocheted pullovers (listed in Category 5, Order No. 40.0050) and certain articles (listed in Category 98, Order No. 40.0980) originating in India (Commission Regulation No. 2667/90).

    September 17. Customs duty was re-established on imports of certain products (listed in Category 7, Order No. 40.0070) originating in Malaysia (Commission Regulation No. 2668/90).

    September 17. Customs duty was re-established on imports of certain underpants and briefs (listed in Category 13, Order No. 40.0130) originating in Thailand (Commission Regulation No. 2669/90).

    September 17. Customs duty was re-established on imports of certain suits and ensembles (listed in Category 74, Order No. 40.0740) originating in Brazil (Commission Regulation No. 2670/90).

    September 17. Customs duty was re-established on imports of certain knitted and crocheted products (listed in Category 4, Order No. 40.0040 and Category 74, Order No. 40.0740) originating in Indonesia (Commission Regulation No. 2671/90).

    September 28. Customs duty was re-established on imports of certain products (listed in Category 20, Order No. 40.0200) originating in Thailand (Commission Regulation No. 2845/90).

    October 11. Customs duty was re-established on imports of certain products (listed in Categories 16, 17, and 21, Order Nos. 40.0160, 40.0170, and 40.0210) originating in Indonesia (Commission Regulation No. 2970/90).

    October 11. Customs duty was re-established on imports of certain products (listed in Category 21, Order No. 40.0210) originating in India (Commission Regulation No. 2971/90).

    October 11. Customs duty was re-established on imports of certain products (listed in Category 29, Order No. 40.0290) originating in Thailand (Commission Regulation No. 2972/90).

    October 11. Customs duty was re-established on imports of certain products (listed in Category 39, Order No. 40.0390) originating in Pakistan (Com-: ‘ mission Regulation No. 2973/90).

    October 15. Customs duty was re-established on imports of small-flowered roses originating in Israel (Commission Regulation No. 2976/90).

    October 15. Customs duty was re-established on imports of large-flowered roses originating in Israel (Commission Regulation No. 2977/90).

    October 24. Customs duty was re-established on imports of uniflorous (standard) carnations originating in Israel (Commission Regulation No. 3054/90).

    October 24. Customs duty was re-established on imports of multiflorous (spray) carnations originating in Israel (Commission Regulation No. 3055/90).

    November 9. Customs duty was re-established on imports of multiflorous (spray) carnations originating in Israel (Commission Regulation No. 3243/90).

    November 9. Customs duty was re-established on imports of small-flowered roses originating in Israel (Commission Regulation No. 3244/90).

    November 9. Customs duty was re-established on imports of products falling under CN Code 2915–70-10 originating in Malaysia (Commission Regulation No. 3248/90).

    November 13. Customs duty was re-established on imports of products falling under CN Code 2922–41-00 originating in Mexico (Commission Regulation No. 3279/90).

    November 13. Customs duty was re-established on imports of certain products falling under Code 3503–00-10 originating in Pakistan (Commission Regulation No. 3280/90).

    November 26. Customs duty was re-established on imports of certain products (listed in Category 18, Order No. 40.0180) originating in Pakistan (Commission Regulation No. 3385/90).

    November 26. Customs duty was re-established on imports of certain products (listed in Category 23, Order No. 40.0230; and Category 37, Order No. 40.0370) originating in Indonesia (Commission Regulation No. 3386/90).

    November 26. Customs duty was re-established on imports of certain products (listed in Category 65, Order No. 40.0650) originating in Argentina (Commission Regulation No. 3387/90).

    November 26. Customs duty was re-established on imports of certain products (listed in Category 65, Order No. 40.0650; Category 74, Order No. 40.0740; and Category 75, Order No. 40.0750) originating in the People’s Republic of China (Commission Regulation No. 3388/90).

    November 27. Customs duty was re-established on imports of products falling under CN Code 3105 originating in Poland (Commission Regulation No. 3407/90).

    November 27. Customs duty was re-established on imports of products falling under CN Codes 3903, 3915–20-00, 3920–30-00, and 3920–99-50 originating in Mexico (Commission Regulation No. 3408/90).

    November 27. Customs duty was re-established on imports of certain products falling under CN Code 4104 originating in Argentina (Commission Regulation No. 3409/90).

    November 27. Customs duty was re-established on imports of certain products falling under CN Code 8541–60-00 originating in Malaysia (Commission Regulation No. 3410/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 15, Order No. 40.01250) originating in Pakistan, Thailand, and Indonesia (Commission Regulation No. 3425/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 16, Order No. 40.0160) originating in India (Commission Regulation No. 4326/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 23, Order No. 40.0230) originating in Hungary (Commission Regulation No. 3427/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 37, Order No. 40.0370) originating in Pakistan (Commission Regulation No. 3428/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 37, Order No. 40.0370; and Category 75, Order No. 40.0750) originating in Thailand (Commission Regulation No. 3429/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 22, Order No. 40.0220; and Category 127, Order No. 42.127) originating in India (Commission Regulation No. 3897/90).

    November 27. Customs duty was re-established on imports of certain products (listed in Category 146A, Order No. 42.1461) originating in Mexico (Commission Regulation No. 3431/90).

    November 30. Customs duty was re-established on imports of products falling under CN Code 2817–00-00 originating in the People’s Republic of China (Commission Regulation No. 3478/90).

    November 30. Customs duty was re-established on imports of certain products falling under CN Code 4203 originating in India (Commission Regulation No. 3479/90).

    December 3. Customs duty was re-established on imports of certain products falling under CN Code 4203 originating in Pakistan (Commission Regulation No. 3506/90).

    December 11. Customs duty was re-established on imports of certain products falling under CN Code 2940–00-90 originating in the People’s Republic of China (Commission Regulation No. 3581/90).

    December 13. Customs duty was re-established on imports of certain products falling under CN Code 3901–20-00 originating in Mexico (Commission Regulation No. 3618/90).

    December 21. Customs duty was re-established on imports of certain products (listed in Category 28, Order No. 40.0280) originating in Thailand and Pakistan (Commission Regulation No. 3891/90).

    December 21. Customs duty was re-established on imports of certain products (listed in Category 97, Order No. 40.0970) originating in the People’s Republic of China (Commission Regulation No. 3892/90).

    December 21. Customs duty was re-established on imports of certain products (listed in Category 27, Order No. 40.0270) originating in India (Commission Regulation No. 3799/90).

    Import Surveillance/Supervision

    January 31. Imports of footwear originating in all non-EEC member countries were subject to Community surveillance (Commission Regulation No. 274/90).

    June 18. Imports of sour cherries, fresh, originating in Yugoslavia were subject to Community surveillance (Council Regulation No. 1656/90).

    June 21. Imports of certain types of footwear originating in the Republic of Korea and Taiwan Province of China were subject to Community surveillance (Commission Regulation No. 1656/90).

    October 4. Imports of certain textiles products originating in Tunisia and Morocco were subject to Community surveillance (Commission Regulation No. 2876/90).

    October 22. Imports of certain types of footwear originating in the Republic of Korea and Taiwan Province of China were subject to Community surveillance (Council Regulation No. 3050/90).

    November 5. Imports of certain agricultural products originating in Canary Islands were subject to Community supervision (Council Regulation No. 3231/90).

    November 19. Imports of certain products originating in Yugoslavia were subject to Community surveillance (Council Regulation No. 3412/90).

    December 27. Imports of certain textiles originating in Malta, Egypt, and Turkey were subject to Community surveillance (Commission Regulation No. 3889/90).

    Transitional Tariff Measures

    December 4. Import duties under the meaning of Article I of Council Regulation No. 2144(87), as amended by Council Regulation No. 4108/88, including existing antidumping duties, were suspended for products originating in Bulgaria, Czechoslovakia, Hungary, Poland, Romania, the U.S.S.R., and Yugoslavia until December 31, 1992, in light of the unification of Germany (Council Regulation No. 3568/90).

    December 19. Customs duties applied to products covered by the ECSC Treaty, including antidumping duties, were suspended for products originating in Bulgaria, Czechoslovakia, Hungary, Poland, Romania, the U.S.S.R., and Yugoslavia until December 31, 1992, in light of the unification of Germany (Commission Decision No. 3788/90/ESCS).

    Summary Features of Exchange and Trade Systems in Member Countries1

    (as of date shown on first country page)2

    AfghanistanAlgeriaAngolaAntigua and BarbudaArgentinaArubaAustraliaAustriaThe BahamasBahrainBangladeshBarbadosBelgium and LuxembourgBelizeBeninBhutanBoliviaBotswanaBrazilBulgariaBurkina FasoBurundiCameroonCanadaCape Verde
    A. Acceptance of Article Status
    1. Article VIII status
    2. Article XIV status
    B. Exchange Arrangement3
    1. Exchange rate determined on the basis of:
    (a) A peg to:
    (i) the U.S. dollar
    (ii) the pound sterling
    (iii) the French franc
    (iv) other currencies4
    (v) a composite of currencies

    (b) Limited flexibility with respect to:
    (i) single currency
    (ii) cooperative arrangement
    (c) More flexible arrangements:
    (i) adjusted according to a set of indicators
    (ii) other managed floating
    (iii) independently floating
    2. Separate exchange rate (s) for some or all capital transactions and/or some or all invisibles
    3. More than one rate for imports
    4. More than one rate for exports
    5. Import rate (s) different from export rate (s)
    c. Payments Arrears
    D. Bilateral Payments Arrangements
    1. With members
    2. With nonmembers
    E. Payments Restrictions
    1. Restrictions on payments for current transactions5
    2. Restrictions on payments for capital transactions5,6
    F. Cost-Related Import Restrictions
    1. Import surcharges
    2. Advance import deposits
    G. Surrender or Repatriation Requirement for Export Proceeds
    Central African Rep.ChadChileChina, People’s Rep. ofColombiaComorosCongoCosta RicaCote d’IvoireCyprusCzechoslovakiaDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEthiopiaFijiFinlandFranceGabonThe GambiaGermanyGhanaGreeceGrenadaGuatemalaGuineaGuinea-BissauGuyanaHaitiHonduras
    Hong KongHungaryIcelandIndiaIndonesiaIran, Islamic Rep. ofIraqIrelandIsraelItalyJamaicaJapanJordanKenyaKiribatiKoreaKuwaitLao People’s Dem. Rep.LebanonLesothoLiberiaLibyan Arab JamahiriyaMadagascarMalawiMalaysia
    A. Acceptance of Article Status
    1. Article VIII status
    2. Article XIV status
    B. Exchange Arrangement3
    1. Exchange rate determined on the basis of:
    (a) A peg to:
    (i) the U.S. dollar
    (ii) the pound sterling
    (iii) the French franc
    (iv) other currencies4
    (v) a composite of currencies



    (b) Limited flexibility with respect to:
    (i) single currency
    (ii) cooperative arrangement
    (c) More flexible arrangements:
    (i) adjusted according to a set of indicators
    (ii) other managed floating
    (iii) independently floating
    2. Separate exchange rate (s) for some or all capital transactions and/or some or all invisibles
    3. More than one rate for imports
    4. More than one rate for exports
    5. Import rate (s) different from export rate (s)
    C. Payments Arrears
    D. Bilateral Payments Arrangements
    1. With members
    2. With nonmembers
    E. Payments Restrictions
    1. Restrictions on payments for current transactions5
    2. Restrictions on payments for capital transactions5,6
    F. Cost-Related Import Restrictions
    1. Import surcharges
    2. Advance import deposits
    G. Surrender or Repatriation Requirement for Export Proceeds
    MaldivesMaliMaltaMauritaniaMauritiusMexicoMoroccoMozambiqueMyanmarNamibiaNepalNetherlandsNetherlands AntillesNew ZealandNicaraguaNigerNigeriaNorwayOmanPakistanPanamaPapua New GuineaParaguayPeruPhilippinesPolandPortugalQatarRomaniaRwandaSt. Kitts and NevisSt. LuciaSt. Vincent and GrenadinesSao Tome and PrincipeSaudi Arabia




    SenegalSeychellesSierra LeoneSingaporeSolomon IslandsSomaliaSouth AfricaSpainSri LankaSudanSurinameSwazilandSwedenSyrian Arab Rep.TanzaniaThailandTogoTongaTrinidad and TobagoTunisiaTurkeyUgandaUnited Arab EmiratesUnited KingdomUnited States
    A. Acceptance of Article Status
    1. Article VIII status
    2. Article XIV status
    B. Exchange Arrangement3
    1. Exchange rate determined on the basis of:
    (a) A peg to:
    (i) the U.S. dollar
    (ii) the pound sterling
    (iii) the French franc
    (iv) other currencies4
    (v) a composite of currencies

    (b) Limited flexibility with respect to:
    (i) single currency
    (ii) cooperative arrangement
    (c) More flexible arrangements:
    (i) adjusted according to a set of indicators
    (ii) other managed floating
    (iii) independently floating
    2. Separate exchange rate (s) for some or all capital transactions and/or some or all invisibles
    3. More than one rate for imports
    4. More than one rate for exports
    5. Import rate (s) different from export rate (s)
    C. Payments Arrears
    D. Bilateral Payments Arrangements
    1. With members
    2. With nonmembers
    E. Payments Restrictions
    1. Restrictions on payments for current transactions5
    2. Restrictions on payments for capital transactions5,6
    F. Cost-Related Import Restrictions
    1. Import surcharges
    2. Advance import deposits
    G. Surrender or Repatriation Requirement for Export Proceeds
    UruguayVanuatuVenezuelaVietNamWestern SamoaRepublic of YemenYugoslaviaZaïreZambiaZimbabwe
    Annual Report on Exchange Arrangements and Exchange Restrictions 1991Key and Footnotes

    indicates that the specified practice is a feature of the exchange and trade system.

    indicates that the specified practice is not a feature of the system.

    indicates that the composite is the SDR.

    The listing includes a nonmetropolitan territory (Hong Kong) for which the United Kingdom has accepted the Fund’s Articles of Agreement, and Aruba and the Netherlands Antilles, for which the Kingdom of the Netherlands has accepted the Fund’s Articles of Agreement. Exchange practices indicated in individual countries do not necessarily apply to all external transactions.

    Usually December 31, 1990.

    It should be noted that existence of a separate rate does not necessarily imply a multiple currency practice under Fund jurisdiction. Exchange arrangements involving transactions at a unitary rate with one group of countries and at another unitary rate with a second group of countries are considered, from the viewpoint of the overall economy, to involve two separate rates for similar transactions.

    Australian dollar, deutsche mark, Indian rupee, or South African rand.

    Restrictions (i.e., official actions directly affecting the availability or cost of exchange, or involving undue delay) on payments to member countries, other than restrictions imposed for security reasons under Executive Board Decision No. 144-(52/51) adopted August 14, 1952.

    Resident-owned funds.

    LIST OF ABBREVIATIONS*

    ACP-EC

    African, Caribbean, and Pacific State signatories to the Lomé Convention

    ACU

    Asian Clearing Union

    AMU

    Asian Monetary Unit

    Anzcerta

    Australia-New Zealand Closer Economic Relations and Trade Agreement

    ASEAN

    Association of South East Asian Nations

    BCEAO

    Central Bank of West African States (Banque centrale des Etats de l’Afrique de l’Ouest)

    BEAC

    Bank of Central African States (Banque des Etats de l’Afrique Centrale)

    BTN

    Brussels Tariff Nomenclature

    CACM

    Central American Common Market

    CAP

    Common Agricultural Policy (of the EC)

    Caricom

    Caribbean Common Market

    CCCN

    Customs Cooperation Council Nomenclature

    CEEAC

    Communauté économique des Etats de l’Afrique Centrale

    CEPGL

    Economic Community of the Great Lakes Countries

    CET

    Common External Tariff (of Caricom)

    CMA

    Common Monetary Area

    CMEA

    Council for Mutual Economic Assistance

    COCOM

    Coordinating Committee for Multilateral Export Controls

    EC

    European Community

    ECCB

    Eastern Caribbean Central Bank

    ECCM

    East Caribbean Common Market

    ECLAC

    Economic Commission for Latin America and the Caribbean

    ECO

    Economic Cooperation Organization

    Ecowas

    Economic Community of West African States (Cedeao)

    ECSC

    European Coal and Steel Community

    ECU

    European Currency Unit

    EEC

    European Economic Community

    EFTA

    European Free Trade Association

    EMCF

    European Monetary Cooperation Fund

    EMS

    European Monetary System

    ERM

    Exchange rate mechanism (of the EMS)

    Euratom

    European Atomic Energy Community

    GATT

    General Agreement on Tariffs and Trade

    GCC

    Gulf Cooperation Council (Cooperation Council for the Arab States of the Gulf)

    GSP

    Generalized System of Preferences

    IBEC

    International Bank for Economic Cooperation

    IBRD

    International Bank for Reconstruction and Development (World Bank)

    ICO

    International Coffee Organization

    IDA

    International Development Association

    IMF

    International Monetary Fund

    LAIA

    Latin American Integration Association (ALADI)

    LIBOR

    London interbank offered rate

    MFA

    Multifiber Arrangement

    MFN

    Most favored nation

    MTN

    Multilateral Trade Negotiations (the Uruguay Round)

    OECD

    Organization for Economic Cooperation and Development

    OECS

    Organization of Eastern Caribbean States

    OGL

    Open general license

    PTA

    Preferential Trade Area for Eastern and Southern African States

    SACU

    Southern African Customs Union

    Sparteca

    South Pacific Regional Trade and Economic Cooperation Agreement

    TMA

    Trilateral Monetary Agreement

    UAPTA

    Unit of account of the PTA

    UDEAC

    Central African Customs and Economic Union

    UN

    United Nations

    WAEC

    West African Economic Community (CEAO)

    WAMU

    West African Monetary Union

    WAUA

    West African Unit of Account

    Bulgaria, People’s Republic of China, Czechoslovakia, Hungary, and the U.S.S.R. The agreements with the People’s Republic of China and Hungary have been inactive for several years.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Netherlands guilders, Norwegian kroner, pounds sterling, Spanish pesetas, Swedish kronor, and Swiss francs.

    Specified noncommercial settlements with Morocco and Tunisia are channeled through a dirham account at the Bank of Morocco and an account in Tunisian dinars at the Central Bank of Tunisia.

    Austrian shillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, and ECUs.

    Arms and ammunition, ethnological collections, ships, ostrich products, cattle, and ivory products. Special export regimes apply to aircraft, animals and animal products, historical objects, minerals and mineral products, toxic substances, cotton, rice, pork meat, coffee, cereals, wood and wood products, tobacco, and oil.

    Defense, law and order, education, health, utilities, communications, and transport infrastructure.

    The Eastern Caribbean dollar is also the currency of Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago. Exports to Jamaica are settled in U.S. dollars.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Portuguese escudos, Spanish pesetas, Swedish kronor, and Swiss francs.

    On January 1, 1986, the island of Aruba, which was formerly a part of the Netherlands Antilles, became a separate non-metropolitan territory within the Kingdom of the Netherlands.

    Canadian dollars, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, Netherlands Antillean guilders, pounds sterling, Swiss francs, and European Currency Units.

    The Australian dollar also circulates in several other countries, including Kiribati, Nauru, and Tuvalu.

    Foreign currencies are defined as all currencies other than the Australian dollar.

    Some tariff-reduction schemes were already in place before the May 1988 Economic Statement. (The Statement left these reduction schemes intact.) Tariff-phasing arrangements in progress at the end of 1987 were: reduction to 15 percent from 20 percent by January 1992 for chemicals and plastics; to 15 percent from 30 percent by January 1, 1991 for glass and glassware; to 15 percent from 40 percent by January 1, 1990 for pulp, paper, and paper products; and to 10 percent from 40 percent by January 1, 1994 for processed vegetable products.

    The areas covered by this agreement are those constituting the South Pacific Forum (in addition to Australia and New Zealand)—Cook Islands, Fiji, Kiribati, Nauru, Niue, Papua New Guinea, Solomon Islands, Tonga, Tuvalu, Vanuatu, and Western Samoa.

    Australia became a participant in the Coordinating Committee for Multilateral Export Controls (COCOM), effective May 1989.

    Goods liberalized for import from a given group of countries may be freely imported from any country in the group, provided that the country of exportation and the country of production of the goods involved are in the same group.

    These countries are Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Australia, The Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Botswana, Brazil, Burkina Faso, Burundi, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, Colombia, Congo, Côte d’Ivoire, Cuba, Cyprus, Denmark (including Faeroe Islands and Greenland), Dominica, Dominican Republic, Ecuador, Egypt, Equatorial Guinea, Fiji, Finland, France, Gabon, The Gambia, Germany, Ghana, Greece, Grenada, Guinea-Bissau, Guyana, Haiti, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Democratic Kampuchea, Kenya, Kiribati, Republic of Korea, Kuwait, Lesotho, Luxembourg, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Mauritania, Mauritius, Mozambique, Myanmar, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Papua New Guinea, Peru, Philippines, Portugal, Qatar, Rwanda, St. Lucia, St. Vincent and the Grenadines, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Singapore, Solomon Islands, South Africa, Spain, Sri Lanka, Suriname, Swaziland, Sweden, Switzerland, Tanzania, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Tuvalu, Uganda, U.S.S.R., United Arab Emirates, United Kingdom, United States, Uruguay, Vanuatu, Republic of Yemen, Yugoslavia, Zaïre, Zambia, and Zimbabwe.

    This is foreign currency in respect of which there is general or specific central bank permission that it may be retained and used or disposed of as investment currency. Such permission may exist in respect of foreign currency accruing to residents of The Bahamas from the sale or redemption of foreign currency securities or the sale, liquidation, redemption, or realization of property, or of direct investments outside The Bahamas. The use of investment currency is prescribed for the purchase from nonresidents of foreign currency securities and the making of direct investments outside The Bahamas.

    Beginning in June 1988, the Central Bank established a branch of its Exchange Control Department in Grand Bahama to serve the foreign exchange needs of residents in that area.

    Foreign currencies comprise all currencies other than the Bahamian dollar.

    Persons of foreign nationality who have been granted “temporary resident” status are treated in some respects as nonresidents but are not permitted to hold External Accounts in Bahamian dollars.

    Except in the Family Islands, where this authority is delegated to clearing bank branches.

    Banks and trusts established in The Bahamas are exempt from certain exchange control regulations, particularly with regard to their offshore operations.

    Thirteen banks and trust companies are authorized to deal in Bahamian and foreign currency securities and to receive securities as deposits.

    Members of the Asian Clearing Union are Bangladesh, India, the Islamic Republic of Iran, Myanmar, Nepal, Pakistan, and Sri Lanka.

    Bulgaria, People’s Republic of China, Czechoslovakia, Hungary, Myanmar, Poland, Romania, and the U.S.S.R.

    The AMU is equivalent in value to the SDR and is used for recording transactions through the ACU.

    The accounts of the United Nations and its agencies are treated as resident accounts.

    The Caricom countries are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Foreign currencies comprise all currencies other than the Barbados dollar.

    Import licenses are issued freely for a large number of products when originating in and shipped from these countries.

    Most imports do not require an import license when imported from the member countries of the EC.

    Most exports do not require an export license when exported to the member countries of the EC.

    Since January 1, 1991, this approval is no longer needed if the foreign company or individual involved is a resident of an EC country.

    The Caricom countries are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago. The Central Bank quotes exchange rates for Barbados dollars, Eastern Caribbean dollars, Guyana dollars, Jamaica dollars, and Trinidad and Tobago dollars.

    Barbados dollars, Canadian dollars, Eastern Caribbean dollars, Guyana dollars, Jamaica dollars, pounds sterling, Trinidad and Tobago dollars, and U.S. dollars.

    Lobster, shrimp, conch, fish, turtles, mahogany, and wild animals. For sugar, the export duty is 2 percent.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    There is an inoperative payments agreement with Hungary.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Benin and those made by branches or subsidiaries abroad of companies in Benin.

    Including those made by companies in Benin that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Benin.

    Legislation was approved for the elimination of the CRA in January 1991, and it came into effect on March 15, 1991.

    Deutsche mark, pounds sterling, South African rand, Swiss francs, and Zimbabwe dollars.

    Australian dollars, Canadian dollars, French francs, Japanese yen, Netherlands guilders, Norwegian kroner, Swedish kronor, European Currency Units, and SDRs.

    Bilateral payments agreements are maintained with Bulgaria. Negotiations are in progress to terminate an agreement that was maintained with the former German Democratic Republic. Bilateral accounts are also maintained with Hungary and Romania, but settlements are made in third-country currencies every 90 days, and interest rates payable on balances are based on those in the international capital market.

    Under instructions issued by the Economic Development Council, federal ministries and subordinate agencies and public enterprises are required to submit, for approval by the President, an annual investment program incorporating their expected import requirements.

    Selected imports are exempted from the requirement of prior approval by Decex, including imports to the free trade zone of Manaus, wheat and petroleum imports, imports under the drawback scheme, and imports of goods included in trade agreements negotiated with LAI A member countries.

    Certain specified imports, including imports under the drawback scheme, direct imports by public administrative bodies, and certain capital goods, are exempt from this requirement.

    The Republic of Bulgaria became a member of the International Monetary Fund on September 25, 1990.

    Until the end of 1990, most of Bulgaria’s trade and financial settlements with member countries of the CMEA were effected in transferable rubles (TR) through the International Bank for Economic Cooperation (IBEC). The official exchange rate for the transferable ruble was set at leva 1.30 per TR 1, and the commercial rate, at leva 1.05 per TR 1. Exchange rates for noncommercial transactions were also established with CMEA member countries on the basis of parity between the lev and the transferable ruble. As of January 1, 1991, this system of settlement in transferable rubles was phased out, except for a limited number of transactions related to the clearing of claims and liabilities that were accumulated under the previous system.

    At the end of February 1991, Bulgaria had bilateral payments agreements with Albania, Bangladesh, Brazil, China, Ethiopia, Finland, Ghana, Greece, Guinea, Islamic Republic of Iran, Democratic Kampuchea, the Democratic People’s Republic of Korea, the Lao People’s Democratic Republic, Malta, Mozambique, Nicaragua, Pakistan, Peru, Romania, Tanzania, and Tunisia.

    Licenses are required for transactions under barter and clearing arrangements, exports under government credits, for exports subject to quotas and voluntary export restraint agreements, for transactions in products made by monopolistic firms (e.g., wine and tobacco), and for special products, such as precious metals. Licenses are normally granted within seven working days.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    Transfers between member countries of the WAMU are subject to a flat commission of CFAF 100 levied on settlements between agencies of the BCEAO.

    A bilateral agreement was negotiated with Ghana in 1970 but is inoperative.

    Including those made through foreign companies that are directly or indirectly controlled by persons residing in Burkina Faso and those made by branches or subsidiaries abroad of companies having their headquarters in Burkina Faso.

    Including those made by companies operating in Burkina Faso that are directly or indirectly under foreign control and those made by branches or subsidiaries in Burkina Faso of foreign companies.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Kenya shillings, Netherlands guilders, Norwegian kroner, pounds sterling, Rwanda francs, Swedish kronor, Swiss francs, Tanzania shillings, Uganda shillings, U.S. dollars, and zaïres.

    The CFA franc circulating in Cameroon is issued by the Banque des Etats de l’ Afrique Centrale (BEAC) and is legal tender also in the Central African Republic, Chad, the Congo, Equatorial Guinea, and Gabon.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Cameroon and those made by branches or subsidiaries abroad of companies in Cameroon.

    Including those made by companies in Cameroon that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Cameroon.

    Under the Canada-United States Free Trade Agreement, investment review thresholds for U.S. investors are being raised to Can$150 million by 1992 for direct acquisitions and are to be phased out altogether for indirect acquisitions, while restrictions with respect to market shares and asset growth of U.S. bank subsidiaries have been liberalized.

    The CFA franc circulating in the Central African Republic is issued by the Banque des Etats de l’ Afrique Centrale (BEAC) and is legal tender also in Cameroon, Chad, Congo, Equatorial Guinea, and Gabon.

    The authority delegated to the BEAC relates to (1) Control over the external position of the banks, (2) The granting of exceptional travel allocations in excess of the basic allowances, and (3) Control over the repatriation of net export proceeds.

    Including those made through foreign companies that are directly or indirectly controlled by persons in the Central African Republic and those made by branches or subsidiaries abroad of companies in the Central African Republic.

    Including those made by companies in the Central African Republic that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in the Central African Republic.

    The CFA franc in circulation in Chad is issued by the Banque des Etats de l’ Afrique Centrale (BEAC) and is legal tender also in Cameroon, the Central African Republic, the Congo, Equatorial Guinea, and Gabon.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Chad and those made by overseas branches or subsidiaries of companies in Chad.

    Including those made by companies in Chad that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Chad.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Hong Kong dollars, Iranian rials, Italian lire, Japanese yen, Macao patacas, Netherlands guilders, Norwegian kroner, Pakistan rupees, pounds sterling, Singapore dollars, Swedish kronor, and Swiss francs.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs. Hong Kong dollars, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Swedish kronor, Swiss francs, and U.S. dollars.

    At the end of 1990, China maintained operative bilateral payments agreements with the following Fund members: Afghanistan, Bangladesh, Bulgaria, Czechoslovakia, Ghana, Guinea, Hungary, the Islamic Republic of Iran, Pakistan, Poland, and Romania. It also maintained operative bilateral payments agreements with Albania, Cuba, the Democratic People’s Republic of Korea, Mongolia, and the U.S.S.R.

    Nonresidents include overseas Chinese and residents of foreign countries and of the Hong Kong and Macao regions. Foreign embassies are also included.

    Mofert itself issues licenses for some restricted imports into Beijing; for the rest, it delegates its authority to its special commission offices at major ports and to its regional counterparts—commissions on foreign economic relations and trade (Cofert).

    A retention quota constitutes a right to purchase foreign exchange in the future for renminbi.

    At the end of 1990, there were 53 goods on the restricted list, including 34 kinds of assembly lines counted as one item.

    In principle, the restricted list can change on a monthly basis, and the coverage of the import plan also changes. Therefore, the degree of overlap changes over time.

    These countries are as follows (classified by geographical areas):

    (1) Africa: Benin, Burundi, Cameroon, Central African Republic, Chad, Congo, Egypt, Equatorial Guinea, Ethiopia, Gabon, The Gambia, Ghana, Mauritania, Morocco, Niger, Nigeria, Rwanda, Sao Tome and Principe, Sierra Leone, Somalia, Sudan, Tanzania, Togo, Tunisia, Zaïre, Zambia, and Zimbabwe.

    (2) Western Hemisphere: Argentina, Brazil, Canada, Chile, Cuba, Ecuador, Jamaica, Mexico, Peru, and United States.

    (3) Asia: Bangladesh, Burma, Cyprus, Iraq, Jordan, Democratic Kampuchea, Democratic People’s Republic of Korea, Lebanon, Mongolia, Nepal, Oman, Pakistan, Philippines, Singapore, Sri Lanka, Syrian Arab Republic, Thailand, Turkey, Viet Nam, and Yemen.

    (4) Europe: Albania, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Romania, Spain, Sweden, Switzerland, U.S.S.R., United Kingdom, and Yugoslavia.

    (5) Oceania: Australia and New Zealand.

    Including those employed by enterprises with overseas and foreign Chinese capital.

    The SAEC is the sole agency for monitoring and controlling China’s external borrowing. It permits the BOC and other financial and nonfinancial institutions responsible for undertaking commercial borrowing to borrow up to specified limits without prior approval. All bond issues, however, are subject to prior approval by the SAEC. In August 1987, comprehensive regulations were issued requiring all foreign borrowing to be registered with the SAEC. Borrowers who do not comply will not be permitted to transfer foreign exchange abroad to meet their debt-service obligations and will be subject to other penalties.

    To help individual enterprises balance their foreign receipts and payments, enterprises with a surplus of foreign exchange may sell it to enterprises with a deficit in the foreign exchange swap centers.

    The special tax rate for these firms is 15 percent.

    The measure requiring an 80-day waiting period for the redemption of exchange certificates for transfer and services was revoked on January 9, 1991.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, pounds sterling, Spanish pesetas (selling rate only), Swedish kronor, and Swiss francs.

    The ad valorem tax on coffee export proceeds was eliminated on January 17, 1991 and replaced by a “coffee contribution” (contribución cafetera) (see footnote 7).

    The advance exchange license deposit requirement was abolished on January 9, 1991.

    The advance exchange license deposit requirement was abolished on January 9, 1991.

    Beginning on January 22, 1991, the remittances abroad can be up to 100 percent of the registered direct investment a year.

    The ad valorem tax on exports of coffee, as well as the additional pasilla y ripio tax were eliminated on January 17, 1991, and replaced by a coffee contribution (contributión cafetera). This contribution is determined by the difference between the export value of coffee surrendered and its estimated cost, taking into account the domestic buying price for export-type coffee (precio interno de sustentación).

    With effect from January 25, 1991, exchange receipts from tourism, labor contracts abroad, donations, and amounts less than US$20,000 are not required to be surrendered.

    The advance deposit requirement was eliminated on January 9, 1991. Until February 28, 1991, exchange licenses would be approved for the prepayment on repurchases of private sector external debt that were refinanced in 1984, provided that a discount had been obtained. These debt-service obligations were exempted from the prior advance deposit requirement.

    Loans by financial entities for the importation of goods also require registration; their repayment is authorized by the exchange license covering the relevant import transaction. Such loans are subject to an interest rate ceiling of 2.5 percent over the New York prime rate or the London interbank offered rate (LIBOR).

    With effect from January 22, 1991, the prior approval of the National Planning Department is required only with respect to investments exceeding US$5 million.

    With effect from January 22, 1991, the sectors in which foreign investment are prohibited or restricted were decreased.

    With effect from January 22, 1991, the limit has been increased to 100 percent.

    Under Law No. 9 of January 17, 1991, Colombian residents are authorized to maintain assets and earned income abroad, provided that assets were owned before September 1, 1990 or they have been acquired from exchange receipts that do not have to be surrendered (see footnote 8).

    Under Law No. 9 of January 17, 1991, Colombian residents were allowed to purchase, sell, hold, import, and export gold. However, for a period of two years, the Government would impose certain restrictions on these activities, including eligibility of the institutions or persons allowed to export gold.

    Currencies quoted on the Paris official market: Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Djibouti francs, ECUs, Finnish markkaa, Greek drachmas, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and zaïres.

    The CFA franc circulating in the Congo is issued by the Banque des Etats de l’Afrique Centrale (BEAC) and is legal tender also in Cameroon, the Central African Republic, Chad, Gabon, and Equatorial Guinea.

    Including those made through foreign companies that are directly or indirectly controlled by persons in the Congo and those made by overseas branches or subsidiaries of companies in the Congo.

    Including those involving the transfer, between nonresidents, of funds in the form of participation in the capital of a Congolese company.

    Composed of the Minister of Finance, the Minister of Planning, and the President of the Central Bank.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    Transfers between member countries of the WAMU are subject to the flat commission of CFAF 100 levied on settlements between agencies of the BCEAO.

    Including those made through foreign companies that are directly or indirectly controlled by persons resident in Côte d’Ivoire and those made by branches or subsidiaries abroad of companies resident in Côte d’Ivoire.

    Including those made in Côte d’Ivoire by companies that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Côte d’Ivoire.

    Australian dollars, Austrian schillings, Belgian francs (commercial), Canadian dollars, Danish kroner, Finnish markkaa, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, Spanish pesetas, Swedish kronor, Swiss francs, and European Currency Units (ECUs).

    Foreign currencies are all currencies other than the Cyprus pound.

    The Czech and slovak Federal Republic became a member of the International Monetary Fund on September 20, 1990.

    Australian dollars, Austrian Schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Greek drachmas, Irish pounds, Italian lire, Japanese yen, Luxembourg francs, Netherlands guilders, Norwegian kroner, pounds streling, Portuguese escudos, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    The rate of surcharge was reduced to 18 percent on May 1, 1991 and to 15 percent on June 1, 1991.

    This limit was increased to Kcs 5,000 on April 1, 1991.

    Bilateral agreements have been concluded with Austria Belgium, Frace, Germany, Italy, Switzerland, and the United Kingdom; they guarantee investors from these countries more favorable treatment than that provided for in this Act.

    Austrian schillings, Belgian francs, Canadian dollars, deutsche mark, Greek drachmas, Finnish markkaa, French francs, Icelandic krónur, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds streling, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    The Eastern Caribbean dollar is also the currency of Antigua and Barbuda, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Foreign currencies comprise all currencies other than the Eastern Caribbean dollar.

    The OECS countries are Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and the British Virgin Islands (associate member).

    In late January 1991, a new exchange rate system was introduced, under which a fixed official rate was applied to exports and essential imports and a freely floating rate determined in an interbank market was applied to all other transactions. The exchange rate system was unified on July 1, 1991.

    Imports of food, fertilizer, petroleum, medicine, and agricultural products are exempt from this commission.

    Nontraditional exporters, who qualify under the temporary import regime of Law No. 69, are also fully exempted from payment of import duties.

    For customs valuation purposes, a rate calculated monthly on the basis of the average bank market exchange rate for the previous month is used.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Kuwaiti dinars, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Swedish kronor, and Swiss francs.

    Effective February 11, 1988, the commercial banks have been authorized to use each month up to 10 percent of their available foreign exchange receipts to settle private debt-service obligations due after this date. Priority is given to settlements of private debt obligations related to imports, and the Central Bank determines the maximum foreign exchange allocations for each commercial bank. Subsequently, the commercial banks were allowed to use a portion of the resources of the new bank market for the settlement of private sector debt obligations in foreign currencies regardless of the date on which the debt became due. In addition, commercial banks were allowed to sell their foreign exchange earnings (accumulated net profits in foreign exchange) to their indebted private sector customers for the purpose of settlement of debts denominated in foreign exchange, at the prevailing new bank market rate. Beginning September 15, 1987, companies covered by Law No. 43 (joint ventures) have been permitted to remit profits abroad through the commercial bank market, pro-vided that they do not have their own foreign exchange in their capital and working accounts. Also, payments (visible and invisible) by public and private sector enterprises that have been authorized through the commercial bank market may not be effected through the market until the balance in their export retention accounts has been used up. Companies covered by Law No. 230 are permitted to remit profits abroad within the balances available in their working accounts, and they are allowed to purchase from the free bank market according to the ministerial regulations within the limits of the profits authorized to be transferred abroad.

    At the end of December 31, 1990, Egypt maintained operative bilateral payments agreements with the Democratic people’s Republic of Korea, Sudan, and the U.S.S.R.

    See footnote 4 for debt-service payments.

    The CFA franc circulating in Equatorial Guinea is issued by the Banque des Etats de l’Afrique Centrale (BEAC) and is legal tender also in Cameroon, the Central African Republic, Chad, the Congo, and Gabon.

    Regulations on capital transactions, such as the sale of foreign securities in Equatorial Guinea or direct investments, have been prepared and are pending approval. The authorities are also in the process of drafting legislation aimed at stimulating foreign investment in the agricultural, forestry, construction, public works, mining, and industrial equipment maintenance sectors.

    Under Fiji’s Exchange Control Regulations, foreign currencies are all currencies other than the Fiji dollar.

    A nonresident is a person or firm whose country of normal domicile or established residence is a country other than Fiji. As regards individuals, a resident of Fiji is a person who either has lived or intends to continue living in Fiji for at least three years.

    At the beginning of 1990, Finland maintained clearing arrangements with Bulgaria, Poland, the German Democratic Republic, and the U.S.S.R. The payments agreement with Poland was abolished at the beginning of April 1990. In May 1990, Finland ceased to effect export proceeds through the Bulgarian clearing account as Bulgaria was not able to settle imbalances that exceeded the credit limits with convertible currencies. Payments to Bulgaria were channeled through the account. Following the unification of Germany, Finland and Germany agreed to abolish the clearing arrangement at the end of June 1990. The present bilateral clearing payments arrangement with the U.S.S.R. is based on a five-year agreement on the exchange of goods and payments covering 1986–90. On September 9, 1988, Finland and the U.S.S.R. concluded amendments to this agreement, under which the maximum imbalance in the clearing account would be limited to rub 200 million. Beginning January 1, 1990, the imbalance exceeding this limit would be settled quarterly in convertible currencies, and the imbalance exceeding rub 100 million would earn interest at an international money market rate. On December 27, 1990, Finland and the U.S.S.R. agreed to abolish the bilateral clearing payments arrangement, with effect from January 1, 1991.

    Some agricultural commodities, some fish, fuels, and other petroleum products.

    Currently, Taiwan Province of China and the Democratic People’s Republic of Korea.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Djibouti francs, Finnish markkaa, Greek drachmas, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kroner, Swiss francs, U.S. dollars, and zaïres.

    Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Equatorial Guinea, Gabon, Mali, Niger, Senegal, and Togo.

    Comprising the institutes of issue of the Operations Account countries and the Overseas Institute of Issue (for New Caledonia, French Polynesia, Mayotte, and Wallis and Futuna Islands).

    Afghanistan, Argentina, Australia, Bhutan, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, India, Indonesia, Islamic Republic of Iran, Iraq, Republic of Korea, Libyan Arab Jamahiriya, Mexico, Myanmar, Nepal, New Zealand, Nicaragua, Pakistan, Panama, Paraguay, Peru, Philippines, Saudi Arabia, South Africa, Sri Lanka, Thailand, Uruguay, Venezuela, and Republic of Yemen.

    Effective January 1, 1990, the exemption from prior authorization was extended to residents of all OECD countries.

    The CFA franc circulating in Gabon is issued by the Banque des Etats de l’Afrique Centrale (BEAC) and is legal tender also in Cameroon, Central African Republic, Chad, Congo, and Equatorial Guinea.

    Currently totaling about 30 items, including cement, ham, mineral water, plastic goods, sugar, batteries, and refined vegetable oil.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Gabon and those made by branches or subsidiaries abroad of companies in Gabon.

    Including those made by companies in Gabon that are directly or indirectly under foreign control and those made by branches or subsidiaries in Gabon of foreign companies.

    In this survey, the Federal Republic of Germany after unification is referred to as Germany.

    Austrian schillings, Belgian and Luxembourg francs, Canadian dollars, Danish kroner, Finnish markkaa, French francs, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pound sterling, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    Countries in List C are Albania, member countries of the Council for Mutual Economic Assistance (CMEA), the People’s Republic of China, and the Democratic People’s Republic of Korea. Countries in List A/B are those of the former OEEC area and Finland and all other countries except those in List C.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, CFA francs, Danish kroner, French francs, deutschemark, Italian lire, Japanese yen, Netherlands guilders. New Zealand dollars, Norwegian kroner, pounds sterling, Spanish pesetas, Swedish kronor, and Swiss francs.

    Ghana maintains operative bilateral payments agreements with Bulgaria, the People’s Republic of China, Cuba, Poland, Romania, and Yugoslavia.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Cyprus pounds, Danish kroner, deutsche mark, French francs, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Swedish kronor, Swiss francs, Portuguese escudos, Spanish pesetas, and European Currency Units (ECUs).

    The Eastern Caribbean dollar is also the currency of Antigua and Barbuda, Dominica, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Foreign currencies include all currencies other than the Eastern Caribbean dollar.

    Austrian schillings, Belgian francs, Canadian dollars, deutsche mark, French francs, Italian lire, Japanese yen, Mexican pesos, Netherland guilders, pounds sterling, Spanish pesetas, Swedish kronor, and Swiss francs.

    Guinea maintains bilateral payments agreements with People’s Republic of China, Cuba, and Viet Nam; all agreements are inoperative.

    Since January 1984, the currency basket has been defined to include pounds sterling, deutsche mark, Japanese yen, French francs, and Netherlands guilders.

    Telecommunications transactions were transferred to the cambio market on February 1, 1991, and rice transactions were transferred to this market on March 1, 1991.

    The major currencies to which this rate applies are the Barbados dollar, Eastern Caribbean dollar, Jamaica dollar, and Trinidad and Tobago.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    Increased to G$1,000 on February 20, 1991.

    Formerly the Guyana Telecommunications Company.

    In 1991, Guyana is expected to implement the Common External Tariff (CET) of the Caribbean Common Market. The CET sets uniform tariff rates for all Caricom countries on imports from non-Caricom countries. Intra-Caricom trade will continue to befree of import duties, quotas, or import-licensing arrangements. The introduction of the CET will change the rate of duty on certain imports, but the Government has decided to offset these changes through compensating changes in the consumption tax schedule.

    As of the end of 1990, the tax was not being enforced.

    As of December 31, 1990, only the surrender requirement applicable to export proceeds was enforced.

    Effective February 14, 1991, the system of import permits was ireplaced by a system of import registration.

    Effective January 1, 1991, the range was changed to 4–35 percent.

    Effective January 24, 1991, the maximum surrender period for minerals and nontraditional goods was extended to 120 days.

    The tax is to be phased out during 1991.

    Hong Kong is a nonmetropolitan territory in respect of which the United Kingdom has accepted the Fund’s Articles of Agreement.

    The member countries of the CMEA are Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and Viet Nam.

    Austrian schillings, Belgian francs, deutsche mark, Finnish markkaa, French francs, Italian lire, Netherlands guilders, pounds sterling, Swedish kronor, Swiss francs, and U.S. dollars.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Irish pounds, Italian lire, Japanese yen, Kuwaitic dinars, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and European Currency Units (ECUs). (Official quotation of the Kuwaiti dinar has been suspended since Au-gust 8, 1990.) In addition to the above, exchange rates for banknotes and traveler’s checks are quoted for Greek drachmas. At the end of 1989, the exchange rate quotation for traveler’s checks in Yugoslav dinars was terminated.

    The spread of 0.2 percent between buying and selling rates applies to spot telegraphic transactions. For checks and banknotes, a 6 percent spread is maintained between buying and selling rates.

    From the beginning of 1991, trade and financial settlements previously conducted in transferable or clearing rubles have been settled in convertible currencies. At the same time, prices used for these transactions are no longer determined by intergovernmental agreement but reflected those prevailing in world markets. As a transitional arrangement, however, the transferable and clearing rubles have continued to be used for the settlement of orders placed before the end of 1990, and for the settlement of some outstanding financial claims.

    A commission of 3 percent applies to purchases from tourists of bank notes in the currencies of member countries of the CMEA.

    From the beginning of 1991, most noncommercial transactions have been conducted in convertible currencies. Except for tourist travel to Czechoslovakia, where special rules apply, foreign exchange for all tourist travel (including to member countries of the CMEA) has been made available in convertible currencies, subject to the limits for all such travel, described below. Pending the move to full convertibility, under the provisions of a bilateral agreement, tourists from Czechoslovakia and Hungary have been permitted to acquire the currency of the other country freely through the domestic banking system; outstanding balances have been settled in convertible currencies. Also, since the beginning of 1991, the NBH has not quoted exchange rates for the forint against the currencies of the member countries of the CMEA, Albania, and the Democratic People’s Republic of Korea; Hungarian commercial banks will soon be permitted to trade at freely determined exchange in these currencies.

    At the end of December 1990, Hungary had bilateral payments agreements with Albania, Brazil, the People’s Republic of China, Colombia, Ecuador, Democratic Kampuchea, the Democratic People’s Republic of Korea, and the Lao People’s Democratic Republic. Hungary also had trade agreements with bilateral payments features for certain commodities with Afghanistan, Bangladesh, and Pakistan. Except for Albania, the People’s Republic of China, Democratic Kampuchea, the Democratic People’s Republic of Korea, and the Lao People’s Democratic Republic, settlements under bilateral agreements were in clearing U.S. dollars. Settlements with the People’s Republic of China were in clearing Swiss francs; and with Albania, Democratic Kampuchea, the Democratic People’s Republic of Korea, and the Lao People’s Democratic Republic, in clearing rubles.

    At the beginning of 1991, the positive list was replaced by a negative list; all goods that do not appear on this list may be imported without license or may be subject to quota. From January 1, 1991, contracts do not have to be reported to the Ministry of International Economic Relations.

    The SALDO system was abolished at the beginning of 1991.

    The range of goods that may be imported without a license was expanded on January 1, 1991, to about 90 percent of total imports in 1988.

    The quota for 1991 has been set at US$630 million; it applies to specified consumer goods imported from all sources, including the member countries of the CMEA.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, and Swiss francs.

    Residents, including exporters of goods, who hold foreign currency that they are not required to sell to authorized dealers may open Foreign Accounts with Icelandic banks. Exporters can similarly deposit, up to six months, foreign exchange proceeds inidentical accounts to meet foreign exchange outlays in their business. Such accounts, denominated in Danish kroner, deutschemark, pounds sterling, and U.S. dollars, may be credited with authorized receipts in foreign currencies and may be debited for authorized payments in foreign currencies.

    This limit was raised to ISK 5.625 millions, effective January 1, 1991.

    Bangladesh, Islamic Republic of Iran, Myanmar, Pakistan, and Sri Lanka. Although it is not one of the countries specified in this context, Nepal is also a member of the ACU.

    Australian dollars, Austrian schillings, Bahrain dinars, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Hong Kong dollars, Italian lire, Japanese yen, Kuwaiti dinars, Malaysian ringgit, Netherlands guilders, Norwegian kroner, pounds sterling, Singapore dollars, Swedish kronor, Swiss francs, and U.S. dollars.

    Czechoslovakia, Romania, and U.S.S.R.

    All remittances by nationals of the People’s Republic of China to any country outside India and all remittances to the People’s Republic of China by any person resident in India, whether for personal or trade purposes, were prohibited with effect from November 3, 1962. Since the resumption of trade between India and the People’s Republic of China, remittances arising out of trade transactions are permitted in conformity with exchange control regulations. All non-trade-related transactions with the People’s Republic of China or nationals of the People’s Republic of China continue to be prohibited, unless generally or specifically authorized. Authorized dealers are permitted to open rupee accounts on their books in the names of their branches or correspondents in the People’s Republic of China or Pakistan without prior reference to the Reserve Bank, but should seek direction before opening such accounts in the names of branches of Pakistani or Chinese banks operating outside Pakistan and the People’s Republic of China, respectively. Authorized dealers may effect remittances to Pakistan on behalf of private importers as in the case of imports from other countries; they also may effect certain types of personal remittances in accordance with regulations applicable to such remittances; remittances for other purposes require the prior approval of the Reserve Bank.

    However, residents of Nepal obtain their foreign exchange requirements from the Nepal Rastra Bank.

    The exempted category includes government imports under Open General License, relief supplies, and passenger baggage.

    Items that can be imported under the personal baggage scheme include air-conditioner units, refrigerators, deep freezers, cooking ranges, washing machines, television sets, tape recorders, record players, movie cameras and projectors, videocassettes, textile fabrics, cigarettes, cigars, and tobacco.

    The exportation of certain commodities, including sugar, raw just, and several categories of steel, is reserved for the state-trading enterprises. (Exports of raw just are canalized through Jute. Corporation of India, Calcutta.).

    Exports that are prohibited include rock crystal, quartz, some varieties of plants and derivatives, all varieties of forestry foundation and breeder seeds, tallow fat and/or oil of any animal origin, rough (uncut and unset) precious stones, sugar cane, frogs’ legs, jaggery (unrefined brown sugar), specified animal skins, and human skeletons. (Exports of jaggery are allowed within a quantitative ceiling.).

    Exports of footwear and roasted and salted peanuts are permitted on a decontrolled basis.

    Persons of Indian nationality or origin who reside abroad may invest freely in any public or private limited company, in any partnership or proprietorship concern, and in industrial, manufacturing, or trade activity (except where the proposed investment is in real estate), provided that the funds required are either remitted from abroad through normal banking channels or are drawn from their Nonresident Accounts, provided that an undertaking is given that repatriation of the capital invested or the profits and dividends arising there from will not be requested, and provided that overall limits on holdings of shares and convertible debentures bought through the stock exchange by nonresident Indians (see below) are adhered to. Overseas companies, societies, and partnership firms, which are owned to the extent of at least 60 percent by nonresidents of Indian nationality or origin, and overseas trusts in which at least 60 percent of the beneficial interest is irrevocably held by nonresident Indians are also allowed to invest in any public or private limited companies in accordance with the above provisions. Nonresident Indians and overseas companies, as defined above, can use funds derived from fresh remittances or held in their Nonresident (External) or Foreign Currency (Nonresident) Accounts to (1) make portfolio investments, with repatriation benefits, up to 1 percent of the capital, provided that their holdings of shares and convertible debentures held on either a repatriable or nonrepatriable basis do not exceed (a) 5 percent of the paid-up capital of the company concerned, or (b) 5 percent of the total paid-up value of each series of convertible debentures issued by the company concerned; (2) invest freely in National Savings Certificates with full repatriation benefits; (3) invest up to 40 percent of the new equity capital issued by a company (other than a FERA company) setting up industrial manufacturing projects, hospitals (including diagnostic centers), hotels of at least three-star category, shipping, software, and oil exploration services with repatriation rights for capital and income, subject to deduction of applicable Indian taxes; and (4) invest up to 74 percent of new investments, including expansion of existing industrial undertakings in specified priority industries, in hospitals and three-, four-, or five-star hotels, with free repatriation of such investment and income there from after deduction of applicable domestic taxes. Nonresident Indians and overseas companies, as defined above, can also place funds with public limited companies in India as deposits, with full repatriation benefits, provided (1) the deposits are made for a period of three years; (2) the deposits are made in conformity with the prevailing rules and within the limits prescribed for acceptance of deposits by such companies; and (3) the funds are made available by the depositors through remittances from abroad or through payments from their Nonresident (External) or Foreign Currency (Nonresident) Accounts. Special tax concessions apply to investments by nonresident Indians.

    Currencies commonly used in Indonesia’s international transactions—that is, Australian dollars, Austrian schillings, Belgian francs, Brunei dollars, Canadian dollars, Danish kroner, deutsche mark, French francs, Hong Kong dollars, Italian lire, Japanese yen, Malaysian ringgit, Netherlands guilders, New Zealand dollars, Norwegian kroner, Philippine pesos, pounds sterling, Singapore dollars, Swedish kronor, Swiss francs, and Thai baht.

    Items affected by such controls include cloue seeds, logs, fertilizer, cement, construction reinforcements of iron, automobile tires, paper, asphalt, stearin, cattle, salt, wheat flour, maize, soybeans, rice, copra, coconut oil, palm oil, palm kernel oil, olein, raw rattan, meat, and all goods from subsidized raw materials.

    Under this scheme, exporters are classified as producer/exporters (firms that export at least 65 percent of their total production) or as exporter-producers (firms that export 85 percent of their production and producers of textiles in general). Producer-exporters may bring into the country their imports free of licensing restrictions and import duties, but with ex post documentation. If exporter-producers can demonstrate that their output was, or will be, exported or that their output was an input in an exported output, then they can also receive the same permission to import their inputs as producer-exporters. The scheme also allows indirect exporters to reclaim import duties through a duty drawback facility.

    The following are exempted from these requirements: (1) sources of import financing that are derived from soft loans, and loans from the World Bank, the Islamic Development Bank, and the Asian Development Bank; (2) domestic components contained in the contract with the foreign suppliers, such as components of services, goods, and taxes/duties; (3) services that are used by various government agencies related to specific expertise, such as foreign accountants, lawyers, surveyors, consultants’ services, purchases of technology (patents), etc.; and (4) purchases or imports under the joint-venture system between state companies and foreign companies.

    Bulgaria, Czechoslovakia, Democratic People’s Republic of Korea, Romania, Syrian Arab Republic, and the U.S.S.R.

    Pakistan, being a party to a separate agreement with the Islamic Republic of Iran, settles its payments through that agreement instead of in AMUs.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Swedish kronor, and Swiss francs.

    This requirement was suspended on January 1, 1990.

    Currencies quoted are Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Greek drachmas, Irish pounds, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and ECUs.

    All currencies other than the Jamaica dollar are considered foreign currencies. All foreign currencies have been designated as specified currencies.

    This limit was raised to US$600 on January 1, 1991.

    This list comprises Albania, Bulgaria, Czechoslovakia, Hungary, Poland, Romania, South Africa, and the U.S.S.R. Exports to these countries require a specific license. In practice, no licenses are issued for exports to South Africa.

    Belgian francs, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, pounds sterling, Swedish kronor, and Swiss francs.

    These include carbonic acid, some nonalcoholic beverages, cigarettes, secondhand passenger cars and buses that are more than five years old, and military uniforms. Certain of these commodities may be imported, however, from Arab Common Market countries and from countries with which trade agreements are in force. Imports of certain agricultural commodities may be prohibited in good crop years.

    All insurance must be taken out in Jordan, but foreign exchange is granted for premiums in respect of insurance contracts concluded before May 1965.

    Approval is not given for the crediting of such Jordanian currency to a nonresident account or for the remittance abroad of the equivalent in foreign currency.

    Austrian schillings, Belgian francs, Burundi francs, Canadian dollars, deutsche mark, Ethiopian birr, French francs, Indian rupees, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Rwanda francs, Swaziland emalangeni, Swedish kronor, Swiss francs, Tanzania shillings, Uganda shillings, and Zambian kwacha.

    Such secuerities must be payable in Kenya shillings and they must not be redeemable earlier than five years from the date of acquisition.

    U.S. dollars, Fiji dollars, pounds sterling, New Zealand dollars, Japanese yen, Hong Kong dollars, deutsche mark, Singapore dollars, Canadian dollars, Papua New Guinea kina, Solomon Islands dollars, Swiss francs, Tongan pa’anga, Vanuatu vatu, and Western Samoa tala.

    Foreign currencies are defined as all currencies other than the Australian dollar.

    In addition to the Hong Kong dollar and the Swiss franc, the list of prescribed currencies comprises the currencies of the member countries of the Fund that have accepted the obligations of Article VIII of the Fund’s Articles of Agreement.

    This survey covers the period January 1–August 1, 1990 (i.e., the period before the occupation of Kuwait by Iraq). Following the withdrawal of Iraq from Kuwait on February 28, 1991, the Central Bank of Kuwait issued, on March 24, circulars to the commercial banks operating in Kuwait instructing that monthly transfers abroad are to be limited to the equivalent of KD 4,000 a person. Transfers of amounts exceeding this limit are permitted with the prior approval of the Central Bank of Kuwait. The limit does not apply to transfers abroad of profits, dividends, or interest of foreign-owned companies investing in Kuwait.

    In addition, all imports from these countries and all exports to them are prohibited; payments may not be made to them or be received from them for any type of transaction.

    Deutsche mark, French francs, Japanese yen, pounds sterling, Swiss francs, and Thai baht.

    U.S. dollar notes, which used to form the major portion of the currency in circulation, have almost totally disappeared from circulation. Full convertibility between the Liberian dollar and the U.S. dollar at par does not, de facto, exist. The U.S. dollar attracts a substantial premium in large parallel market transactions, and commercial banks charge abnormally high commissions for their sales of offshore funds. Foreign exchange dealers other than banks are permitted to buy and sell currencies other than the U.S. dollar at market-determined exchange rates.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Lebanese pounds, Netherlands guilders, Norwegian kroner, pounds sterling, Saudi Arabian rivals, Swedish kronor, Swiss francs, Tunisian dinars, and U.S. dollars.

    These include mineral water, fruit juices, instant tea, certain types of coffee, green vegetables, poultry, preserved meats and vegetables, alcoholic beverages, peanuts, fresh fruit, oriental rugs, soaps, envelopes, crystal chandeliers, toy guns, luxury cars, and furs.

    These are nine essential food items, medicine, milk, meat, insecticides, petroleum products, tobacco, and gold.

    Austrian schillings, Belgian francs, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, pounds sterling, Swiss francs, and U.S. dollars.

    Including those made by companies in Madagascar that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Madagascar.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Madagascar and those made by branches or subsidiaries abroad of companies in Madagascar.

    Under Malawi’s exchange control regulations, all currencies other than the malawi kwacha are considered foreign currencies.

    Certain agricultural and food products, new (military-type) and used clothing, gold, sugar, fertilizers, newsprint and certain paper products, office stapling machines and staples, printing inks, erasers, hand-operated numbering stamps, flick knives, explosives, arms and ammunition, game traps, mist nets, wild animals, live fish, cassava, and copyright articles.

    These include alcoholic beverages, precious stones, electrical goods, and noncommercial passenger vehicles.

    The surtax is levied on both imported and domestically produced manufactured goods.

    Implements of war, petroleum products, nickel, atomic energy materials, and certain agricultural and animal products.

    The cess on tobacco is levied, with some exemptions, on tabacco sold locally.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    Exchange for tourist travel purposes is made available only to persons submitting an exit permit (autorisation de sortie) issued by the Security Services.

    For the purpose of deriving the currency weights, capital flows of the banking system are excluded from current account transactions.

    Foreign currencies are defined as all curriencies other than the Maltese Lira.

    As of December 31, 1990, Malta maintained bilateral payments agreements with Bulgaria, Czechoslovakia, Libyan Arab Jamahiriya, and poland.

    For purposes of exchange allocations for travel and study, residents are defined as physical persons who are at the time living in Malta and have either lived there for at least three years or intend to continue living there for at least three years.

    For the purposes of this Act, the term nonresidents means (1) individuals who are not residents of Malta but excluding Maltese citizens living abroad or foreign spouses of citizens of Malta; and (2) any association of persons, or any entity, whether corporate or not, if (a) it is registered outside Malta, (b) it had its principal place of residence or business outside Malta, (c) 25 percent or more of its shares or other capital is owned by a nonresident person, or (d) it is in any manner, whether directly or indirectly, controlled by one or more nonresident persons.

    Austrian schillings, Belgian francs, Canadian dollars, CFA francs, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Moroccan dirhams, Netherlands guilders, Norwegian kroner, pounds sterling, Saudi Arabian riyals, Spanish pesetas, Swedish kronor, and Swiss francs.

    Including those made by companies in Mauritania that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Mauritania.

    Including those made through foreign companies that are directly or indirectly controlled by persons in Mauritania and those made by branches or subsidiaries abroad of companies in Mauritania.

    The exchange control regulations of Mauritius define foreign currencies as all currencies other than the Mauritian rupee.

    Since November 12, 1990, the peso has been depreciated daily against the U.S. dollar by Mex$0.40.

    Effective February 4, 1991, the limit over which export proceeds are required to be surrendered at the controlled market rate was increased to US$50,000 a week. As a result of this change, 65 percent of all export transactions (equivalent to some 9 percent of the total value of non-oil exports) are free from the surrender requirement at the controlled exchange market rate.

    On May 2, 1990, the President submitted a bill to Congress to permit the privatization of commercial banks. Congress approved this measure at the end of June 1990.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, Italian lire, Japanese yen, Kuwaiti dinars, Mauritanian ouguiya, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Saudi Arabian riyals, Spanish pesetas, Swedish kronor, Swiss francs, Tunisian dinars, U. A.E. dirhams, U.S. dollars, and European Currency Unit (ECU).

    CFA francs and Gibraltar pounds.

    Inoperative bilateral payments agreements are maintained with Guinea and Mali.

    Imports of goods on List A on c.i.f. terms require prior exchange control approval, unless the goods are shipped by air or parcel post.

    The transfer of dividends of nonresident-owned shares of Moroccan companies not listed on the Casablanca Stock Exchange requires the approval of the Exchange Office.

    Operations involving the conveyance of real property located in Morocco and belonging to foreign persons are not subject to authorization by the Exchange Office.

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Malawi kwacha, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, South African rand, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, Zambian kwacha, and Zimbabwe dollars.

    Namibia became a member of the International Monetary Fund on September 25, 1990.

    The member of the SACU are Botswana, Lesotho, Namibia, South Africa, and Swaziland.

    A nonresident is a person (i.e., a natural person or legal entity) whose normal place of residence, domicile, or registration is outside the common Monetary Area.

    Australian dollars, Canadian dollars, deutsche mark, French francs, Indian rupees, Japanese yen, Netherlands guilders, pounds sterling, Swiss francs, and Singapore dollars.

    Nepal maintains bilateral payments agreements with Bulgaria, Czechoslovakia, and the U.S.S.R.

    The only transit trade transactions still subject to specific license are purchases and sales of strategic goods.

    Since no exchange restrictions are in force, the position of the Netherlands is in full conformity with the liberalization required under the 1988 EC Capital Liberalization Directive with effect from July 1, 1990.

    State trading countries are defined for this purpose as consisting of Albania, Bulgaria, People’s Republic of China, Czechoslovakia, Hungary, Democratic People’s Republic of Korea, Mongolia, Poland, Romania, U.S.S.R., and Viet Nam.

    The Netherlands Antilles is a nonmetropolitan territory in respect of which the Kingdom of the Netherlands has accepted the Fund’s Articles of Agreement. On January 1, 1986, the island of Aruba, formerly a part of the Netherlands Antilles, became a separate nonmetropolitan territory within the Kingdom of the Netherlands.

    Aruban florins, Canadian dollars, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, pounds sterling, Suriname guilders, Swiss francs, and European Currency Units. All currencies other than the Netherlands Antillean guilder are considered foreign currencies.

    Most of these quotas are expected to be replaced with import tariffs by the end of 1991.

    Foreign currencies are defined as all currencies other than New Zealand currency.

    Industries covered by industry plans include carpets, ceramics, electronics, footwear, general rubber goods, glassware, margarine, motor vehicles and components, plastics, shipbuilding, starch and related products, textiles and apparel, tires and tubes, wines, and writing instruments. Industries covered by the plans account for about 20 percent of total industrial production. On December 17, 1987, it was announced that industries currently under industry plans would be included in the general tariff-reduction programs on the expiration of the plans unless compelling reasons exist for continued special treatment.

    The islands under this arrangement are those constituting the South Pacific Forum (in addition to Australia and New Zealand), Cook Islands, Fiji, Kiribati, Nauru, Niue, Papua New Guinea, Solomon Islands, Tonga, Tuvalu, Vanuatu, and Western Samoa.

    On March 4, 1991, the authorities of Nicaragua announced that the córdoba would be withdrawn from circulation by the end of April 1991 and that the córdoba oro (CO), in circulation since August 13, 1990, would be the only legal tender at an exchange rate of C$5,000,000 = CO 1. On the same date, the authorities devalued the córdoba oro by 80 percent, moving the rate from CO 1 = US$1 to CO 5 = US$1, and expressed their intention to maintain the exchange rate pegged to the U.S. dollar.

    However, by virtue of Decree No. 1-L (effective March 1, 1963), the exchange proceeds from bananas, coconuts, copra, and coconut by-products exported through the ports of the region of El Cabo and the Department of Zelaya may be used by the exporters to pay for imports consumed in these areas.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    This amount is reduced, when appropriate, by the amount sold for CFA francs and increased by the amount of foreign notes acquired in Niger by debit to a Foreign Account in Francs or a foreign currency account, by exchange for other foreign means of payment brought in, or by repurchase with CFA francs (such repurchase being limited to the equivalent of CFAF 25,000).

    Including those made through foreign companies that are directly or indirectly controlled by persons in Niger and those made by branches or subsidiaries abroad of companies in Niger.

    Including those made by companies in Niger that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Niger.

    The following items are exempt from the inspection requirement: gold; precious stones; works of art; explosives and pyrotechnic products; ammunition; implements of war; live animals; fresh, chilled, frozen, or canned fruits and vegetables; scrap metals; household and personal effects, including used motor vehicles; parcel post or samples; and petroleum and refined petroleum products.

    Residents with both income and expenditures in foreign currencies may also open foreign exchange accounts at domestic banks without restriction.

    Balances on the accounts maintained with Czechoslovakia and Hungary are settled within 90 days.

    Different rules apply to nonresident rupee accounts of individuals, firms, or companies, on the one hand, and to nonresident rupee accounts of banks, on the other hand.

    Some of the currently prohibited imports fall outside of these categories (i.e., some prohibited items are not produced in Pakistan and they do not fit into the category of goods banned for religious, health, or luxury consumption reasons).

    Licensing restrictions apply only to arms and ammunition.

    Industries on the specified list include arms and ammunition; security printing, currency and mint; high explosives; radioactive substances; alcohol and beverage industries based on imported concentrates; manufactures of automobiles; tractors and farm machinery; and petroleum-blending plants.

    The allowances for travel to Bangladesh and India are less; there is no such allowance for travel to Afghanistan.

    Prohibited exports include ferrous and nonferrous metals (excluding iron and steel manufactured goods), edible oils, grains, gur, sari and jaggary powder, dairy products, certain live animals, animal fats, beef, mutton, timber, certain hides and skins, pulses and beans, wet-blue leather made from cowhides and calfhides, wheat bran, wheat straw, charcoal, pepper, certain animal products, intoxicants, certain seeds, wooden crates, arms, ammunition, explosives, fissionable material, maps and charts, paper waste, unfinished hockey sticks and blades, human skeletons, all imported goods, and antiquities.

    The exceptions are raw cotton; cotton yarn; fish other than frozen and preserved; mutton and beef; petroleum products; crude vegetable material; wool and animal hair; crude animal material; feedstuff for animals; all grains including grain flour; stone, sand, and gravel; waste and scrap of all kinds; fertilizer crude; oilseeds, nuts, and kernels; jewelry exported under the Entrustment Scheme; live animals; hides and skins; wet-blue leather; inorganic elements, oxides, etc.; crude minerals; works of art and antiques; all metals; fur skins; and wood in rough or squared form.

    Under specified conditions, authorized dealers may grant concessional finance without state bank approval and without an irrevocable letter of credit or firm export order.

    Foreign currencies are defined as all currencies other than the kina.

    Effective February 1990, an export tax at the rate of 15 percent has been imposed on timber.

    For external trade transactions, Belgian francs, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, pounds sterling, Spanish pesetas, and Swiss francs; for nontrade transactions, transactions may also be effected in Austrian schillings, Canadian dollars, Norwegian kroner, Swedish kronor, and Venezuelan bolívares.

    Companies exporting at least 80 percent of their production to countries outside the Andean Pact, mining companies, and those engaged in tourism are exempt from this limit.

    These limits were removed on January 28, 1991.

    Australian dollars, Austrian schillings, Bahrain dinars, Belgian francs, Brunei dollars, Canadian dollars, deutsche mark, French francs, Hong Kong dollars, Indonesian rupiahs, Italian lire, Japanese yen, Kuwaiti dinars, Malaysian ringgit, Netherlands guilders, pounds sterling, Saudi Arabian riyals, Singapore dollars, Swiss francs, Thai baht, and U.S. dollars.

    The participants in the CMEA are Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and Viet Nam.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Greek drachmas, Indian rupees, Italian lire, Iranian rials, Irish pounds, Japanese yen, Kuwaiti dinars, Lebanese pounds, Libyan dinars, Luxembourg francs, Netherlands guilders, Norwegian kroner, pounds sterling, Portuguese escudos, Saudi Arabian riyals, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, Turkish liras, and Yugoslav dinars.

    Indian rupees, Iranian rials, Irish pounds, Kuwaiti dinars, Libyan dinars, and Saudi Arabian riyals.

    Foreign exchange bureaus (kantory) require licenses to operate in the parallel exchange market.

    Since early June 1990, however, an exchange rate of Zl 1,000 per TR 1 applied to exports not covered by the protocol; since February 1991, an exchange rate of Zl 100 per TR 1 has been applied to exports not covered by the protocol.

    Since January 1, 1991, travelers to CMEA countries have been required to use convertible currencies.

    All bilateral payments agreements maintained by Poland were effectively terminated by December 31, 1990, with all new contracts being made in convertible currencies. However, in some cases (Brazil, Lebanon, and Nepal), new agreements specifying that trade is to take place in convertible currencies had not been signed. Also, in the People’s Republic of China, Egypt, Greece, India, and the Islamic Republic of Iran, outstanding balances may still be settled under the bilateral agreement. At the end of December 1990, Poland still maintained an operative bilateral payments agreement with the U.S.S.R.

    These deposit certificates are distinct from Bank PKO coupons, which, until the end of December 1990, could be used to buy “internal exports” in hard currency (PEWEX) stores. Since January 1, 1991, all transactions at stores have been conducted in domestic currency and PKO coupons can no longer be used. Bank PKO, S.A. would repurchase outstanding coupons at a 10 percent discount.

    Subsequently, the suspensions and reduced rates were extended through June 30, 1991.

    The basket consists of deutsche mark, French francs, Italian lire, pounds sterling, and Spanish pesetas (the weight of the deutsche mark also reflects the relative importance of the Benelux countries). From 1977 to October 1990 (except from December 1985 to April 1986), the exchange rate was adjusted monthly in relation to the currency basket, and depreciation objectives for the effective exchange rate of the escudo were announced periodically by the authorities.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, European Currency Units (ECUs), Finnish markkaa, French francs, Greek drachmas, Italian lire, Irish pounds, Japanese yen, Macao patacas, Netherlands guilders, Norwegian kroner, pounds sterling, South African rand, Spanish pesetas, Swedish kronor, and Swiss francs. The Macao pataca is pegged to the Hong Kong dollar at a parity rate of PI .03 = HK$1.

    The use of credit cards abroad has been liberalized. However, legislation in force envisages the possibility of reimposing restrictions on the use of credit cards by the Bank of Portugal whenever deemed necessary. Also, payments of travel and accommodation expenses abroad for tourism purposes have been liberalized if paid through a Portuguese travel agency.

    On February 18, 1991, an interbank foreign exchange market was introduced in which the exchange rate is determined through an auction-type fixing. Foreign exchange is freely available through participating banks for all bona fide current account transactions, except for limited profit remittances by nonresidents. The official exchange rate is determined by the National Bank of Romania, and is applied to foreign exchange surrendered by exporters and to sales of foreign exchange for imports of a limited number of products (e.g., crude oil, natural gas, coal, electricity, and certain industrial raw materials). The official exchange rate (pegged to a basket of currencies) remains in effect.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Irish pounds, Italian lire, Japanese yen, Luxembourg francs, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, and Turkish liras.

    The participants in the CMEA are Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and Viet Nam. With effect from January 1, 1991, all transactions with these countries take place in convertible currencies; the transferable ruble has been abolished.

    As of December 31, 1989, Romania had bilateral payments agreements with Albania, Brazil, the People’s Republic of China, Ghana, India, the Islamic Republic of Iran, and the Democratic People’s Republic of Korea. Settlements with Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, the U.S.S.R., and Viet Nam took place through the multilateral payments system within the International Bank for Economic Cooperation.

    Except for imports from Afghanistan, Albania, Burkina Faso, Burundi, Cameroon, Chad, People’s Republic of China, Comoros, Djibouti, Gabon, Guinea, Iraq, Democratic People’s Republic of Korea, Lao People’s Democratic Republic, Liberia, Libyan Arab Jamahiriya, Mali, Niger, Seychelles, Sierra Leone, Somalia, Syrian Arab Republic, Tanzania, Uganda, U.S.S.R., Viet Nam, Republic of Yemen, and Zaïre.

    The Eastern Caribbean dollar is also the currency of Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Lucia, and St. Vincent and the Grenadines.

    The Caricom countries are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    The Eastern Caribbean dollar is also the currency of Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, and St. Vincent and the Grenadines.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Foreign currencies comprise all currencies other than the Eastern Caribbean dollar.

    The Eastern Caribbean dollar is also the currency of Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, and St. Lucia.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Foreign currencies include all currencies other than the Eastern Caribbean dollar.

    The OECS comprises Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

    In addition, all imports from and all exports to these countries are prohibited; payments may neither be made to them nor received from them for any type of transaction, whether of a current or capital nature.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    Transfers between member countries of the WAMU are free of any commission.

    Including investments made through foreign companies that are directly or indirectly controlled by persons in Senegal and those made by overseas branches or subsidiaries of companies in Senegal.

    Including those made by companies in Senegal that are directly or indirectly under foreign control and those made by branches or subsidiaries of foreign companies in Senegal.

    Austrian schillings, Belgian francs, Canadian dollars, CFA francs, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    Deutsche mark, Djibouti francs, French francs, Italian lire, Kuwaiti dinars, pounds sterling, Saudi Arabian riyals, Swiss francs, and U.A.E. dirhams.

    This bilateral payments agreement has been inoperative since 1977.

    Authorized dealers can permit, without the Reserve Bank’s approval, advance payment of up to 33 ⅓ percent of the exfactory cost of capital goods, if suppliers require it.

    Lilangeni bank notes issued by Swaziland are freely convertible into rand, but they are not legal tender in South Africa. Maloti bank notes issued by Lesotho are freely convertible into rand at par, but they are not legal tender in South Africa.

    Foreign currency, foreign exchange, exchange, and specified currency mean any currency other than currency that is legal tender in the Republic of South Africa but exclude the currencies of Lesotho and Swaziland.

    A nonresident is a person (i.e., a natural person or legal entity) whose normal place of residence, domicile, or registration is outside the Common Monetary Area.

    Securities are defined as including not only quoted stocks, shares, debentures, and rights, but also unquoted shares in public companies, shares in private companies, government, municipal, and public utility stocks, non-resident-owned mortgage bonds, or participations in mortgage bonds. The terms “scrip” and “share certificates” include any temporary or substitute documents of title, such as letters of allotment, option certificates, balance receipts, and any other receipts for scrip.

    Approval is generally given for borrowing abroad with a maturity of at least six months by domestic entrepreneurs, except for speculation or consumer credit. Authorized dealers are generally permitted to raise funds abroad in their own names to finance South African foreign trade and for other approved purposes.

    Subject, however, to the standstill arrangements, where applicable.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Greek drachmas, Irish pounds, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Swedish kronor, Swiss francs, U.S. dollars, and European Currency Units (ECUs).

    African, Caribbean, and Pacific state signatories to the Lome Convention with the EC.

    With effect from April 19, 1991, all foreign exchange proceeds were allowed to be maintained in foreign accounts.

    With effect from March 15, 1991, this deposit requirement was abolished.

    With effect from April 19, 1991, all foreign exchange proceeds were allowed to be maintained in foreign accounts.

    With effect from April 19, 1991, the 50 percent limitation has been eliminated.

    Australian dollars, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Swedish kronor, Swiss francs, and U.S. dollars.

    In deutsche mark, French francs, Japanese yen, pounds sterling, Swiss francs, and U.S. dollars.

    These include dates, chilies, onions, potatoes, certain petroleum products, film, consumer textiles, caustic soda, tea chests, jute hessian, mamóties, and matches.

    Deutsche mark, French francs, Hong Kong dollars, Japanese yen, Netherlands guilders, pounds sterling, Singapore dollars, Swedish kronor, Swiss francs, and U.S. dollars.

    Deutsche mark, French francs, Netherlands guilders, pounds sterling, Barbados dollars, and Guyana dollars.

    However, two specified mining companies do not need licenses for their own import requirements. Similar exemptions may be granted to foreign companies for their industrial activities in Suriname, provided that they pay for imports from their own foreign exchange holdings.

    Australian dollars, Austrian schillings, Barbados dollars, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Eastern Caribbean dollars, French francs, Guyana dollars, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Swedish kronor, Swiss francs, Trinidad and Tobago dollars, and U.S. dollars.

    The prohibition applies to imports of pigs (excluding those for breeding); chicken, duck, and turkey meat, pork, fish (excluding kwiekwie fish and smoked herring), shrimp, and crab (fresh, cooled, or frozen, salted, dried, or precooked); vegetables (excluding potatoes, onions, and garlic); edible roots and tubers; citrus, bananas, plantains, and coconuts; green and roasted coffee (excluding decaffeinated); rice and rice products (excluding baby food); sugar (excluding cubes and tablets weighing 5 grams or less a cube or tablet), aromatized or colored sugar or sugar syrup; noodles and macaroni; jam, jelly, and marmalade (excluding those for diabetics); peanut butter; syrups and concentrates for nonalcoholic beverages in packages of less than 5 kilograms (excluding those for diabetics); firewood and other nonprocessed wood, railroad ties, shingles, wooden structures for construction, wooden tiles and panels, wooden tools, handles, and coat hangers; men’s and boys’ shoes (excluding rubber and plastic boots and sport shoes); and sand, gravel, sidewalk tiles, and road bricks. Imports of some other items, such as explosives and narcotics, are prohibited for reasons of public policy or health.

    The commodities to which import quotas are applied include kwie-kwie fish, milk powder, potatoes, onions, garlic, fruits and nuts (other than citrus, bananas, plantains, and coconuts), decaffeinated coffee, peanuts, baby food, tomato paste, certain preserved vegetables, matches, furnishings, ready-made clothing, and furniture (excluding those for business establishments, such as offices, theaters, clinics, hotels, restaurants, and libraries).

    Belgium, Canada, France, Germany, Italy, Luxembourg, Netherlands, Netherlands Antilles, United Kingdom, and United States.

    This arrangement applies to the nationally controlled Land-bouw Bank, De Surinaamsche Bank, and Hakrinbank, but not to the Dutch-owned Algemene Bank Nederland.

    Switzerland has applied for membership in the International Monetary Fund.

    Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Iraqi dinars, Italian lire, Jordan dinars, Lebanese pounds, Netherlands guilders, pounds sterling, Saudi Arabian riyals, Swedish kronor, and Swiss francs.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Comorian francs, Danish kroner, deutsche mark, Netherlands guilders, Ethiopian birr, French francs, Indian rupees, Italian lire, Japanese yen, Kenya shillings, Lesotho maloti, Malawian kwacha, Mozambique meticais, Mauritian rupees, Norwegian kroner, Pakistan rupees, pounds sterling, Rwanda francs, Somali shillings, Swaziland emalangeni, Swedish kronor, Swiss francs, Uganda shillings, Zambian kwacha, and Zimbabwe dollars.

    These include certain types of cement, gold, platinum, precious stones, live cattle and other specified animals, coffee, sorghum, corn, all types of sugar, brass and copper in certain forms, iron scrap and most forms of iron other than pig iron and iron ore, and Deva and Buddha images. Textile exports to certain markets are also subject to licensing.

    The CFA franc is issued by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO) and is the common currency in Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

    Transfers between member countries of the union are free of any commission.

    This amount is adjusted for (1) the amount of foreign currency sold for CFA francs, and (2) any foreign currency acquired in Togo by (a) debit to a Foreign Account in Francs or a Foreign Account in Foreign Currency, (b) the conversion of foreign currency traveler’s checks, etc., made out in the name of the traveler, and (c) any repurchases of foreign currency (permitted up to CFAF 175,000) with CFA francs resulting from the sale of foreign currency.

    Including investments made through foreign companies that are directly or indirectly controlled by persons in Togo and those made by branches or subsidiaries abroad of companies in Togo.

    Including those made by companies in Togo that are directly or indirectly under foreign control and those made by branches or subsidiaries in Togo of foreign companies.

    Canadian dollars, deutsche mark, Fiji dollars, French francs, Hong Kong dollars, Indian rupees, Italian lire, Japanese yen, Netherlands guilders, New Zealand dollars, pounds sterling, Singapore dollars, Swedish kronor, Swiss francs, and U.S. dollars.

    Barbados dollars, Belize dollars, Canadian dollars, deutsche mark, Eastern Caribbean dollars, French francs, Guyana dollars, Jamaica dollars, Japanese yen, Netherlands guilders, pounds sterling, and Swiss francs.

    Canadian dollars, deutsche mark, French francs, Japanese yen, Netherlands guilders, pounds sterling, and Swiss francs.

    Under Trinidad and Tobago’s exchange control regulations, all currencies other than the Trinidad and Tobago dollar are considered foreign currencies. In certain cases, permission may be granted for the retention of a portion of foreign currency receipts in a Foreign Currency Account (see section on Foreign Currency Accounts below).

    Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Myanmar kyats, Netherlands guilders, Norwegian kroner, Portuguese escudos, Spanish pesetas, Swedish kronor, Swiss francs, and pounds sterling.

    Effective January 1, 1991, the importation of all visible items no longer requires a trade allocation certificate.

    The Caricom countries are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Currencies quoted spot and at bank note rates are Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Kuwaiti dinars, Libyan dinars, Moroccan dirhams, Netherlands guilders, Norwegian kroner, pounds sterling, Saudi Arabian riyals, Spanish pesetas, Swedish kronor, Swiss francs, U.A.E. dirhams, U.S. dollars, and European Currency Units (ECUs). Luxembourg francs, Qatar riyals, and CFA francs are quoted at bank note rates only; Algerian dinars are quoted spot only.

    Such persons may transfer D 1,750 if the total value of their assets does not exceed D 3,500.

    Austrian schillings, Belgian francs, Canadian dollars, Danish and Faeroese kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and all currencies of the former Sterling Area other than the Uganda shilling.

    The seven federated states of the United Arab Emirates are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al Qaiwain, Ras al Khaimah, and Fujairah.

    The ACP Area comprises Angola, Antigua and Barbuda, The Bahamas, Barbados, Belize, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Djibouti, Dominica, Equatorial Guinea, Ethiopia, Fiji, Gabon, The Gambia, Ghana, Grenada, Guinea, Guinea-Bissau, Guyana, Jamaica, Kenya, Kiribati, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Niger, Nigeria, Papua New Guinea, Rwanda, Sao Tome and Principe, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Senegal, Seychelles, Sierra Leone, Solomon Islands, Somalia, Sudan, Suriname, Swaziland, Tanzania, Togo, Tonga, Trinidad and Tobago, Tuvalu, Uganda, Vanuatu, Western Samoa, Zaïre, Zambia, and Zimbabwe.

    The CEFTA Area comprises Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.

    The Community Area comprises all EC member states.

    The Dollar Area comprises Bolivia, Canada, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Liberia, Mexico, Nicaragua, Panama, Philippines, United States, and Venezuela.

    The Far Eastern and Western Area comprises Australia, Canada, Japan, New Zealand, and United States.

    The Mediterranean Area comprises Cyprus, Egypt, Israel, Lebanon, Malta, Morocco, Tunisia, Turkey, and Yugoslavia.

    The OCT Area comprises British Antarctic Territory, British Indian Ocean Territory, British Virgin Islands, Cayman Islands, Falkland Islands and Dependencies, French Polynesia, French Southern and Antarctic Territories, Greenland, Mayotte, Montserrat, Netherlands Antilles (Aruba, Bonaire, Curaçao, St. Eustatius, St. Maarten (South), and Saba), New Caledonia and Dependencies, Pitcairn, St. Helena and Dependencies, St. Pierre and Miquelon, Turks and Caicos Islands, Wallis and Futuna Islands, and West Indies Associated States.

    The State Trading Area comprises Albania, Bulgaria, People’s Republic of China, Czechoslovakia, Hungary, Democratic Kampuchea, Democratic People’s Republic of Korea, Lao People’s Democratic Republic, Mongolia, Poland, Romania, U.S.S.R., and Viet Nam.

    The Residual Textile Area comprises all countries and territories other than Algeria, Argentina, Bangladesh, Bolivia, Brazil, Brunei Darussalem, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Hong Kong, India, Indonesia, Islamic Republic of Iran, Jordan, Republic of Korea, Macao, Malaysia, Maldives, Mexico, Nicaragua, Pakistan, Panama, Paraguay, Peru, Philippines, Singapore, Sri Lanka, Syrian Arab Republic, Taiwan Province of China, Thailand, Uruguay; and those comprising the ACP Area, the CEFTA Area, the Far Eastern and Western Area, the Mediterranean Area, the OCT Area, and the State Trading Area.

    The restrictions on textiles do not apply to countries in the Community Area, Australia, Canada, Japan, New Zealand, and United States.

    The skins of certain rare animals, most primary whale products, and a number of other wildlife products, including raw ivory, tortoiseshell, and plumage, cannot be imported without an import license issued by the appropriate department. Cocoa and cocoa products may be imported according to the International Cocoa Agreement of 1986.

    Exports of certain products are controlled for reasons of national security, animal welfare, national heritage, and in accordance with international agreements.

    Bangladesh, Benin, Bhutan, Botswana, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Comoros, Djibouti, Equatorial Guinea, The Gambia, Guinea, Guinea-Bissau, Haiti, Lesotho, Malawi, Maldives, Mali, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, Somalia, Sudan, Tanzania, Togo, Uganda, Western Samoa, and Yemen Arab Republic.

    Antigua and Barbuda, The Bahamas, Barbados, Belize, British Virgin Islands, Costa Rica, Dominica, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Monserrat, Netherlands Antilles, Panama, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Certain payments and transfers to the Government of the Islamic Republic of Iran, its instrumentalities, and controlled entities involving obligations contracted prior to January 19, 1981 are subject to restrictions as are payments for goods or services imported from the Islamic Republic of Iran.

    These are defined as domestically chartered corporations authorized to engage in international banking and financial operations.

    Including coconut crabs for conservation purposes.

    The timetable of the Trade Reform calls for a reduction by March 1991 of the maximum tariff on manufacturing sector imports to 40 percent and of the number of rates to four.

    Wheat flour, edible food products made from wheat, table rice, precooked maize flour, canned sardines, powdered milk, refined or brown sugar, mixed vegetable oil, pasteurized semi-fatty white cheese, pulses, infant formulas, dehydrated soups, essential medicines, type C toilet paper, fertilizers, and urban and intercity passenger transportation vehicles.

    The timetable of the Trade Reform calls for the elimination of customs tariff exemptions for articles under the C.K.D. regime by early 1991.

    The list of articles subject to export licenses includes certain agricultural products (milk, green peas, lentils, dry beans, rice, and maize), prepared and canned sardines, saccharose, sugar, uranium and thorium minerals, metallic minerals, and fertilizers.

    Under the 1990 agreement with commercial bank creditors, 50 percent of Series B and Series A-2 New Money Bonds may be converted into equity at par.

    Until December 31, 1990, most of Viet Nam’s trade and financial settlements with the other members of the Council for Mutual Economic Assistance (CMEA) (Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and, formerly, the German Democratic Republic) were effected in transferable rubles through the International Bank for Economic Cooperation. Since January 1, 1991, these settlements have been effected freely in convertible currencies.

    In 1990, the following three small banks were also authorized to carry out international transactions: Saigon Bank for Industry and Trade, EXIM Bank, and Bank for Industry and Commerce of Ho Chi Minh City.

    On May 22, 1990, the Yemen Arab Republic and the People’s Democratic Republic of Yemen merged into a single state, the Republic of Yemen.

    Deutsche mark, French francs, Italian lire, Japanese yen, Jordan dinars, Kuwaiti dinars, Lebanese pounds, Netherlands guilders, pounds sterling, Saudi Arabian riyals, Swedish kronor, and Swiss francs.

    Australian dollars, Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, Finnish markkaa, French francs, Italian lire, Japanese yen, Kuwaiti dinars, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and European Currency Units (ECUs).

    With effect from January 1, 1991, all transactions have been made in convertible currencies; agreements to that effect have been finalized with all of these countries except with Czechoslovakia.

    Accounts may be denominated in any of the following currencies: Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, Finnish markkaa, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, pounds sterling, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    Austrian schillings, Belgian francs, Burundi francs, Canadian dollars, CFA francs, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Kenya shillings, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, Rwanda francs, South African rand, Spanish pesetas, Swedish kronor, Swiss francs, U.S. dollars, and the European Currency Unit.

    Burundi, Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon, Rwanda, and Sao Tome and Principe.

    There are, however, several exceptions. Companies in certain sectors are allowed to retain a portion of their foreign exchange earnings in such accounts (see section on Exports and Export Proceeds).

    On March 16, 1991, the list of restricted exports was reduced to the following four products: white maize, fertilizers, petroleum products, and ivory.

    There are 17 denominated currencies that are freely convertible through authorized dealers: Austrian schillings, Belgian francs, Canadian dollars, Danish kroner, deutsche mark, French francs, Italian lire, Japanese yen, Netherlands guilders, Norwegian kroner, Portuguese escudos, pounds sterling, South African rand, Spanish pesetas, Swedish kronor, Swiss francs, and U.S. dollars.

    Effective January 20, 1989, repatriation at accelerated rates, depending on discounted sales prices of net equity, is allowed.

    Source: Official Journal of the European Communities

    This list does not include abbreviations of purely national institutions mentioned in the country pages.

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