Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
January 1989
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    Appendix Summary Table
    Summary Table. Measures Affecting Members’ Exchange and Trade Systems, 1988
    MemberDateDirectionMeasures
    Imports and Import Payments
    Quantitative Import Controls
    Industrial countries
    Australia4/13/88LiberalizationTariff quotas on passenger motor vehicles abolished.
    12/20/88LiberalizationEmbargo on sugar imports temporarily suspended.
    Canada11/30/88LiberalizationThe phased removal of quotas on ladies’ and girls’ footwear completed.
    Iceland1/1/88LiberalizationImport tariff regime simplified.
    2/1/88LiberalizationFishing vessels deleted from restricted list.
    Japan6/20/88LiberalizationImport liberalization program covering 1988–93 on citrus and beef agreed with the United States.
    6/24/88LiberalizationImport liberalization program covering 1988–93 on beef agreed with Australia.
    7/21/88LiberalizationImport liberalization programs for nine agricultural products agreed with the United States.
    New Zealand7/1/88LiberalizationImport licensing requirement eliminated for all imports not subject to Industry Plans.
    Spain3/8/88TighteningTin plates added to restricted steel product imports.
    United States1/1/88LiberalizationQuota on imports of selected steel products (sheet, strip rods, pipes, tubes, wire) from Mexico adjusted upward by 12.4 percent.
    1/1/88TighteningGrowth of imports of selected textiles and apparel from China limited to 3 percent a year under four-year agreement.
    1/5/88TighteningGrowth of imports of selected textiles and apparel from Mexico limited to 6 percent a year under four-year agreement.
    1/7/88TighteningCanadian potash producers agreed to adjust sale prices of exports to the United States to avoid imposition of antidumping duties.
    5/20/88LiberalizationQuota levels for imports of garments from the Dominican Republic increased under four-year agreement.
    7/22/88LiberalizationGlobal quota on sugar imports increased.
    11/1/88LiberalizationQuota on garment exports by Jamaica increased.
    Developing countries—fuel exporters
    Ecuador2/23/88TighteningAutomobile imports prohibited.
    6/21/88LiberalizationBan on automobile imports lifted and replaced by specific import quotas.
    8/31/88TighteningAutomobile imports banned and imports of capital goods restricted.
    Indonesia11/21/88LiberalizationRestrictions on some 351 products relaxed.
    Nigeria2/9/88TighteningBarley, malt, aluminum sulfate, and retreaded tires added to prohibited list.
    2/9/88LiberalizationUnmanufactured wood removed from prohibited list.
    Syrian Arab Republic4/16/88LiberalizationAuthorization granted to producers of ready-to-wear garments to import outside the permitted import system.
    6/12/88LiberalizationAuthorization granted to dry fruit producers to import raw materials.
    9/29/88TighteningPermission to import prohibited goods of a value of up to LS 70,000 withdrawn.
    Tunisia1/29/88LiberalizationAdministrative restrictions on certain imports removed.
    Developing countries—other
    Argentina3/25/88LiberalizationQuantitative restrictions on petrochemical and iron and steel products reduced.
    6/6/88LiberalizationQuantitative restrictions on a range of agricultural machinery and equipment eliminated.
    9/21/88LiberalizationImport controls abolished on 2,400 items, covering capital goods, textiles other than garments, chemicals and petroleum products, and tobacco; production coverage of controls reduced to 18 percent.
    Bangladesh3/16/88LiberalizationImport of rice by the private sector permitted.
    4/6/88LiberalizationInterim import policy order 1988/89 reduced negative and restricted lists.
    7/1/88LiberalizationImport policy order 1988/89 reduced negative and restricted lists.
    Brazil5/4/88LiberalizationImports of agricultural commodities liberalized.
    Burundi4/1/88LiberalizationControls on luxury goods eliminated.
    Colombia8/3/88LiberalizationEssential industries allowed to import certain products needed for operation under a six-month licensing regime.
    Congo5/28/88LiberalizationImport licenses abolished, except for 13 products, and replaced by ex post declarations.
    Dominican Republic4/29/88TighteningImports of automobiles and luxury goods prohibited for one year.
    El Salvador1/1/88LiberalizationNumber of prohibited import items reduced to 106.
    6/1/88LiberalizationNumber of prohibited items reduced to 28.
    Guyana8/31/88LiberalizationCertain items removed from prohibited import list.
    India4/1/88LiberalizationA total of 329 items of intermediate and raw material items added to OGL.
    4/1/88LiberalizationA total of 99 capital goods items added to OGL.
    4/1/88TighteningNumber of items of intermediate raw materials on the restricted and permissible list increased to 816.
    4/1/88TighteningNumber of machine tools on OGL reduced to 157.
    Jordan11/7/88TighteningImports of certain products prohibited.
    Korea1/7/88LiberalizationImports by foreign subsidiaries and joint ventures engaged in manufacturing liberalized.
    4/1/88LiberalizationA total of 142 items (net) from list of restricted imports removed.
    5/12/88LiberalizationFive agricultural products from list of restricted imports removed.
    7/1/88LiberalizationA total of 46 items from list of restricted imports removed.
    7/7/88LiberalizationProhibition on beef imports replaced by quota.
    8/12/88LiberalizationProhibition on imports of frozen french fries removed.
    12/2/88LiberalizationA total of 59 items from list of restricted imports removed.
    Madagascar2/1/88Liberalization(1) OGL system introduced for raw materials and spare parts; and (2) number of prohibited items and items requiring prior authorizations reduced to 94 customs nomenclature categories.
    7/1/88LiberalizationOGL system extended to imports of all goods.
    8/5/88LiberalizationNumber of prohibited items and items requiring prior authorizations reduced to 88 customs nomenclature categories, mainly for security and health reasons.
    Malaysia1/13/88LiberalizationLicensing requirements for imports from China abolished.
    Maldives4/1/88LiberalizationImport quota for April 1988/March 1989 increased by 30 percent.
    Mali6/30/88LiberalizationQuotas on ten products removed.
    Morocco10/31/88LiberalizationSome 130 items transferred from List B to List A.
    Nepal1/1/88LiberalizationOGL system expanded.
    3/8/88LiberalizationLimit on imports of gold by Pakistani nationals to be used for production of jewelry for export increased.
    Netherlands Antilles1/1/88TighteningQuotas on 43 items reduced to 50 percent of the c.i.f. value of 1987 imports.
    Pakistan7/1/88Liberalization1988/89 import policy order liberalized imports of a number of items and increased cash value ceilings on other products.
    10/29/88LiberalizationImports of typewriter ribbons liberalized.
    11/23/88LiberalizationImports of computer software liberalized.
    11/28/88TighteningImports of medicine containing benzidine banned.
    12/12/88LiberalizationImports of ball bearings liberalized.
    Sierra Leone5/23/88LiberalizationUnnumbered import licensing facility reintroduced de facto.
    11/25/88TighteningImports of cigarettes prohibited.
    Singapore4/1/88LiberalizationImport licensing requirement for air conditioners abolished.
    Sri Lanka5/20/88LiberalizationImports of precious and semiprecious stones and imitation jewelry for domestic use permitted.
    Tanzania2/1/88LiberalizationPortion of foreign exchange made available on a nonadministrative basis for a selected positive list of priority import categories under OGL.
    Thailand6/10/88LiberalizationImports of 5,377 units of two-wheel walking tractors and 705 units of used four-wheel tractors permitted until end of the year.
    9/28/88ExtensionImports of 150,000 metric tons of soybean in the 1988/89 season permitted; required ratio of local purchases to imports set at 1:2.
    Togo3/1/88LiberalizationQuotas on most imports abolished.
    Turkey1/16/88LiberalizationNumber of items subject to licensing cut from 110 to 33.
    12/28/88TighteningNumber of items subject to licensing raised from 33 to 49.
    Zimbabwe6/1/88TighteningCumulative tourist travel allowances of husband and wife allowed to be used to import goods on OGL reduced from Z$3,000 to Z$900.
    Import Surcharges and Import Taxation
    Industrial countries
    Australia4/13/88LiberalizationTariffs on passenger motor vehicles reduced.
    5/25/88LiberalizationGeneralized tariff reductions announced.
    7/1/88LiberalizationTariffs on imports from New Zealand eliminated.
    Canada6/6/88LiberalizationAntidumping duties on soda ash imports from the United States terminated.
    6/30/88LiberalizationAntidumping duties on countertop microwave ovens from Japan, the Republic of Korea, and Singapore terminated.
    7/27/88LiberalizationAntidumping duties on stainless steel plate and sheet from Japan and South Africa terminated.
    7/27/88LiberalizationAntidumping duties on stainless steel plate from Belgium, France, the Federal Republic of Germany, Italy, Sweden, and the United Kingdom terminated.
    7/29/88TighteningDefinitive antidumping duties imposed on barbed wire from Poland.
    8/22/88LiberalizationAntidumping duties on hand saw blades from the United States terminated.
    8/23/88LiberalizationAntidumping duties on ladies’ handbags from the Republic of Korea, Hong Kong, and Taiwan Province of China terminated.
    12/6/88LiberalizationAntidumping duties on porcelain insulators from Japan and the United States terminated.
    12/7/88LiberalizationAntidumping duties on camping tents from China terminated.
    12/8/88LiberalizationAntidumping duties on abrasion-resistant steel pipe from the United States terminated.
    12/15/88TighteningProvisional antidumping duties imposed on padded clothes hangers from the United States and Taiwan Province of China.
    12/29/88TighteningProvisional antidumping duties imposed on polyphase induction motors (above 200 hp) from Brazil, France, Japan, Sweden, Taiwan Province of China, the United Kingdom, and the United States.
    12/29/88TighteningProvisional countervailing duties imposed on polyphase induction motors (above 200 hp) from Brazil.
    Iceland1/1/88LiberalizationImport tariff regime simplified.
    Japan4/1/88LiberalizationTariff rates on certain industrial products and processed food products reduced.
    8/1/88LiberalizationTariff rate on crude oil and petroleum products reduced.
    New Zealand7/1/88LiberalizationAcross-the-board phased tariff reductions for industries not subject to Industry Plans implemented.
    1/1/88LiberalizationMost tariffs on imports of goods from Australia eliminated.
    Spain1/1/88LiberalizationTariff reductions in accordance with EC accession implemented.
    10/1/88LiberalizationTariff reduction in accordance with EC accession implemented.
    United States1/30/88TighteningAntidumping duties imposed on imports of color picture tubes from Canada, Japan, Singapore, and the Republic of Korea.
    3/8/88TighteningAntidumping duties imposed on imports of stainless steel butt-weld pipe fittings from Japan.
    3/11/88TighteningDuty-free treatment for imports from Panama abolished.
    5/3/88TighteningAntidumping duties imposed on imports of small- to medium-capacity internal combustion forklift trucks from Japan.
    6/16/88TighteningAntidumping duties imposed on imports of butadiene-acrylonitrile-copolymer synthetic rubber from Japan.
    7/3/88TighteningMFN provisions of trade agreement with Romania suspended.
    7/26/88TighteningAntidumping duties imposed on imports of brass sheet and strip from Japan and the Netherlands.
    8/5/88TighteningCountervailing and antidumping duties imposed on imports of electrical conductor aluminum redraw rods from Venezuela.
    8/9/88TighteningAntidumping duties imposed on imports of granular polytetra-fluoroethylene resin from Japan.
    8/22/88TighteningExceptions to sanctions against Panama to permit the payment of import duties allowed.
    10/30/88TighteningSanctions in the form of 100 percent tariffs on $39 million of imports from Brazil in retaliation for alleged lack of patent protection by Brazil imposed.
    10/31/88LiberalizationIntention to accede to the Harmonized Tariff Schedule on 1/1/89 announced.
    12/6/88LiberalizationTariff protection for red cedar shakes and shingles for an additional two-and-a-half years introduced at lower rate.
    12/21/88LiberalizationRetaliatory tariffs on pasta imports from the EC eliminated.
    EEC countries
    1/4/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 7/88).
    1/11/88LiberalizationCountervailing charge on tangerines originating in Morocco eliminated (Regulation 68/88).
    1/18/88TighteningDefinitive antidumping duties imposed on imports of electronic typewriters originating in Japan (Regulation 154/88).
    1/20/88TighteningProvisional antidumping duties imposed on imports of certain iron and steel coils originating in Algeria, Mexico, and Yugoslavia (Regulation 163/88/ECSC). (Regulation 979/88/ECSC modified these duties.)
    1/25/88TighteningProvisional antidumping duties imposed on imports of certain iron and steel sheets and plates originating in Yugoslavia (Regulation 229/88/ECSC). (Regulation 980/88/ECSC modified these duties.)
    1/25/88TighteningCountervailing charge imposed on imports of fresh tangerines originating in Turkey (Regulation 204/88).
    1/26/88TighteningCountervailing charge imposed on fresh lemons originating in Morocco (Regulation 216/88).
    1/26/88TighteningCountervailing charge imposed on artichokes originating in Egypt (Regulation 215/88).
    1/26/88TighteningCountervailing charge imposed on artichokes originating in Spain (except the Canary Islands) (Regulation 214/88).
    2/3/88LiberalizationCountervailing charge on imports of fresh tangerines originating in Turkey eliminated (Regulation 324/88).
    2/4/88TighteningProvisional antidumping duties imposed on imports of potassium permanganate originating in China (Regulation 360/88).
    2/8/88TighteningCountervailing charge imposed on artichokes originating in Egypt (Regulation 362/88).
    2/22/88LiberalizationCountervailing charge on artichokes originating in Egypt eliminated (Regulation 482/88).
    2/23/88LiberalizationAntidumping duties on imports of polyester yarn from the United States expired (88/C/72/05).
    2/24/88TighteningCountervailing charge imposed on cucumbers originating in Spain (except the Canary Islands) (Regulation 496/88).
    3/15/88TighteningProvisional antidumping duties imposed on imports of oxalic acid originating in Taiwan Province of China and the Republic of Korea (Regulation 699/88).
    3/23/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 764/88).
    3/29/88TighteningCountervailing charge imposed on artichokes originating in Spain (except the Canary Islands) (Regulation 836/88).
    4/5/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 903/88).
    4/6/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 915/88).
    4/6/88TighteningCountervailing charge imposed on tomatoes originating in Morocco (Regulation 916/88).
    4/7/88TighteningCountervailing charge imposed on tomatoes originating in the Canary Islands (Regulation 927/88).
    4/7/88TighteningCountervailing charge imposed on cucumbers originating in Poland (Regulation 928/88).
    4/11/88LiberalizationCountervailing charge on artichokes originating in Spain (except the Canary Islands) eliminated (Regulation 955/88).
    4/11/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 956/88).
    4/14/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 985/88).
    4/14/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 986/88).
    4/14/88TighteningCountervailing charge imposed on artichokes originating in Spain (except the Canary Islands) (Regulation 987/88).
    4/14/88TighteningCountervailing charge imposed on tomatoes originating in the Canary Islands (Regulation 988/88).
    4/15/88TighteningCountervailing charge imposed on imports of tomatoes originating in Turkey (Regulation 1003/88).
    4/15/88LiberalizationAntidumping duties on imports of zinc-coated steel sheets from the German Democratic Republic expired (88/C/131/03).
    4/15/88LiberalizationAntidumping duties on imports of sheets and plates of iron and steel from the German Democratic Republic expired (88/C/131/03).
    4/18/88TighteningAntidumping duties on certain electronic scales assembled in the EEC extended (Regulation 1021/88).
    4/19/88LiberalizationCountervailing charge on tomatoes originating in Morocco eliminated (Regulation 1028/88).
    4/20/88LiberalizationAntidumping duties on imports of orthoxylene from Puerto Rico and the United States expired (88/C/72/05).
    4/20/88LiberalizationAntidumping duties on imports of paraxylene from Puerto Rico, the United States, and the American Virgin Islands expired (88/C/72/05).
    4/25/88TighteningDefinitive antidumping duties imposed on imports of roller chains for cycles originating in China (Regulation 1198/88).
    5/3/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 1213/88).
    5/4/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 1224/88).
    5/5/88TighteningCountervailing charge imposed on tomatoes originating in Morocco (Regulation 1240/88).
    5/6/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 1258/88).
    5/6/88TighteningCountervailing charge imposed on zucchini originating in Spain (except the Canary Islands) (Regulation 1259/88).
    5/10/88TighteningCountervailing charge imposed on fresh lemons originating in Cyprus (Regulation 1275/88).
    5/10/88TighteningCountervailing charge imposed on fresh lemons originating in Israel (Regulation 1276/88).
    5/10/88LiberalizationCountervailing charge on tomatoes originating in Spain (except the Canary Islands) eliminated (Regulation 1278/88).
    5/11/88TighteningProvisional antidumping duties on imports of certain iron and steel sheets and plates originating in Yugoslavia extended (Regulation 1321/88/ECSC).
    5/11/88TighteningProvisional antidumping duties on imports of certain iron and steel coils, originating in Algerian, Mexico, and Yugoslavia extended. (Regulation 1322/88/ECSC).
    5/16/88TighteningCountervailing charge imposed on tomatoes originating in Morocco (Regulation 1325/88).
    5/16/88LiberalizationCountervailing charge on zucchini originating in Spain (except the Canary Islands) eliminated (Regulation 1234/88).
    5/16/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 1323/88).
    5/17/88TighteningCountervailing charge imposed on imports of tomatoes originating in Turkey (Regulation 1341/88).
    5/17/88TighteningProvisional antidumping duties imposed on imports of serial-impact-dot-matrix printers originating in Japan (Regulation 1418/88).
    5/19/88TighteningCountervailing charge imposed on tomatoes originating in Romania (Regulation 1373/88).
    5/19/88TighteningCountervailing charge imposed on cucumbers originating in Poland (Regulation 1372/88).
    5/19/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 1371/88).
    5/19/88TighteningCountervailing charge imposed on zucchini originating in Spain (except the Canary Islands) (Regulation 1370/88).
    5/20/88TighteningCountervailing charge imposed on fresh lemons originating in Cyprus (Regulation 1392/88).
    5/24/88TighteningCountervailing charge imposed on tomatoes originating in Poland (Regulation 1409/88).
    5/24/88LiberalizationCountervailing charge on zucchini originating in Spain (except the Canary Islands) eliminated (Regulation 1410/88).
    5/24/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 1408/88).
    5/25/88TighteningCountervailing charge imposed on fresh lemons originating in Israel (Regulation 1419/88).
    5/30/88TighteningCountervailing charge imposed on fresh lemons originating in Cyprus (Regulation 1486/88).
    5/30/88TighteningCountervailing charge imposed on cucumbers originating in Poland (Regulation 1487/88).
    5/30/88LiberalizationCountervailing charge on tomatoes originating in Morocco eliminated (Regulation 1488/88).
    5/30/88LiberalizationCountervailing charge on tomatoes originating in Romania eliminated (Regulation 1490/88).
    5/31/88TighteningDefinitive antidumping duties imposed on imports of potassium permanganate originating in China (Regulation 1531/88).
    6/2/88LiberalizationCountervailing charge on tomatoes originating in Poland eliminated (Regulation 1536/88).
    6/3/88TighteningCountervailing charge imposed on apricots originating in Spain (except the Canary Islands) (Regulation 1553/88).
    6/3/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 1554/88).
    6/6/88TighteningCountervailing charge imposed on apricots originating in Tunisia (Regulation 1560/88).
    6/10/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 1627/88).
    6/10/88TighteningCountervailing charge imposed on apricots originating in Spain (except the Canary Islands) (Regulation 1628/88).
    6/10/88LiberalizationAntidumping duties on imports of hexamethylenetetramin from the German Democratic Republic and the U.S.S.R. expired (88/C/307/02).
    6/14/88TighteningProvisional antidumping duties imposed on imports of polyester yarn originating in Mexico, the Republic of Korea, Taiwan Province of China, and Turkey (Regulation 1695/88).
    6/14/88TighteningProvisional antidumping duties imposed on imports of synthetic fibers of polyesters originating in Mexico, Romania, Taiwan Province of China, Turkey, the United States, and Yugoslavia (Regulation 1696/88).
    6/15/88TighteningCountervailing charge imposed on peaches including nectarines originating in Spain (except the Canary Islands) (Regulation 1679/88).
    6/15/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 1680/88).
    6/20/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 1726/88).
    6/21/88TighteningProvisional antidumping duties imposed on imports of paracetamol originating in China (Regulation 1745/88).
    6/21/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 1746/88).
    6/21/88TighteningCountervailing charge on peaches including nectarines originating in Spain (except the Canary Islands) eliminated (Regulation 1747/88).
    6/22/88LiberalizationCountervailing charge on apricots originating in Spain (except the Canary Islands) eliminated (Regulation 1760/88).
    6/23/88LiberalizationAntidumping duties on bisphenol imported from the United States expired (88/C/307/02).
    6/30/88LiberalizationCountervailing charge on tomatoes originating in Spain (except the Canary Islands) eliminated (Regulation 1899/88).
    7/4/88TighteningCountervailing charge imposed on fresh lemons originating in Argentina (Regulation 1965/88).
    7/5/88IntroductionProvisional antidumping duty imposed on imports of serial-impact-fully-formed character printers originating in Japan (Regulation 2005/88).
    7/7/88TighteningCountervailing charge imposed on cherries originating in Hungary (Regulation 2011/88).
    7/8/88TighteningCountervailing charge imposed on fresh lemons originating in Argentina (Regulation 2042/88).
    7/8/88TighteningCountervailing charge imposed on tomatoes originating in Poland (Regulation 2043/88).
    7/11/88TighteningDefinitive antidumping duties imposed on imports of oxalic acid originating in Taiwan Province of China and the Republic of Korea (Regulation 2089/88).
    7/12/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 2073/88).
    7/18/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 2139/88).
    7/18/88TighteningCountervailing charge imposed on eggplants originating in Spain (except the Canary Islands) (Regulation 2141/88).
    7/18/88TighteningDefinitive antidumping duties imposed on imports of certain iron and steel sheets and plates originating in Yugoslavia (Regulation 2131/88/ECSC).
    7/18/88TighteningDefinitive antidumping duties imposed on imports of certain iron or steel coils originating in Algeria, Mexico, and Yugoslavia (Regulation 2131/88/ECSC).
    7/18/88LiberalizationCountervailing charge on cherries originating in Hungary eliminated (Regulation 2140/88).
    7/19/88LiberalizationCountervailing charge on tomatoes originating in Poland eliminated (Regulation 2151/88).
    7/20/88TighteningProvisional antidumping duties imposed on imports of certain iron and steel sections originating in Yugoslavia and Turkey (Regulation 2158/88/ECSC).
    7/29/88TighteningProvisional antidumping duties imposed on imports of copper sulphate originating in Bulgaria and the U.S.S.R. (Regulation 2386/88).
    7/31/88LiberalizationAntidumping duties on iron and steel sheets and plates, hot rolled (A/S) imported from Brazil suspended (88/C/307/02).
    8/4/88TighteningCountervailing charge imposed on table grapes originating in Chile (Regulation 2460/88).
    8/6/88LiberalizationAntidumping duties on steel coils for re-rolling imported from Brazil and Venezuela suspended (88/C/307/02).
    8/10/88TighteningCountervailing charge imposed on certain varieties of plums originating in Yugoslavia (Regulation 2518/88).
    8/16/88LiberalizationCountervailing charge on table grapes originating in Chile eliminated (Regulation 2556/88).
    8/21/88LiberalizationAntidumping duties on barium chloride imported from China and the German Democratic Republic expired (88/C/307/02).
    8/22/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 2612/88).
    8/24/88TighteningProvisional antidumping duties imposed on imports of urea originating in Austria, Hungary, Malaysia, Romania, the United States, and Venezuela (Regulation 2623/88).
    8/26/88TighteningProvisional antidumping duties imposed on certain imports of video cassette recorders originating in Japan and the Republic of Korea (Regulation 2684/88).
    8/26/88TighteningCountervailing charge imposed on certain varieties of plums originating in Yugoslavia (Regulation 2662/88).
    8/26/88TighteningCountervailing charge imposed on table grapes originating in Cyprus (Regulation 2663/88).
    8/29/88TighteningCountervailing charge imposed on tomatoes originating in Portugal (Regulation 2676/88).
    8/31/88LiberalizationAntidumping duties on certain electronic scales assembled in the EEC repealed (Regulation 2735/88).
    9/5/88TighteningCountervailing charge imposed on imports of fresh lemons originating in Turkey (Regulation 2763/88).
    9/7/88TighteningCountervailing charge imposed on certain varieties of plums originating in Spain (except the Canary Islands) (Regulation 2783/88).
    9/7/88LiberalizationCountervailing charge on table grapes originating in Cyprus eliminated (Regulation 2785/88).
    9/8/88LiberalizationCountervailing charge on the import of certain varieties of plums originating in Spain (except the Canary Islands) repealed (Regulation 2795/88).
    9/12/88LiberalizationCountervailing charge on imports of fresh lemons originating in Turkey eliminated (Regulation 2814/88).
    9/19/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 2887/88).
    9/20/88TighteningCountervailing charge imposed on tomatoes originating in Portugal (Regulation 2899/88).
    9/20/88LiberalizationCountervailing charge on tomatoes originating in Portugal eliminated (Regulation 2899/88).
    9/21/88TighteningCountervailing charge imposed on fresh lemons originating in Turkey (Regulation 2911/88).
    9/23/88TighteningProvisional antidumping duties on imports of serial-impact-dot-matrix printers originating in Japan extended (Regulation 2943/88).
    9/29/88TighteningProvisional antidumping duties imposed on imports of paint, distemper, varnish, and similar brushes originating in China (Regulation 3052/88).
    10/5/88TighteningCountervailing charge imposed on apples originating in Australia (Regulation 3078/88).
    10/6/88TighteningCountervailing charge imposed on apples originating in Portugal (Regulation 3089/88).
    10/10/88LiberalizationCountervailing charge on imports of fresh lemons originating in Turkey eliminated (Regulation 3120/88).
    10/14/88TighteningProvisional antidumping duties on imports of polyester fibers originating in Mexico, Romania, Taiwan Province of China, Turkey, the United States, and Yugoslavia extended (Regulation 3170/88).
    10/14/88TighteningProvisional antidumping duties on imports of polyester yarn originating in Mexico, the Republic of Korea, Taiwan Province of China, and Turkey extended (Regulation 3171/88).
    10/14/88TighteningProvisional antidumping duties on imports of paracetamol originating in China extended (Regulation 3172/88).
    10/17/88TighteningAntidumping duties extended on certain plain paper photocopiers assembled in the EEC extended (Regulation 3205/88).
    10/17/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 3186/88).
    10/17/88TighteningCountervailing charge imposed on tomatoes originating in Romania (Regulation 3187/88).
    10/18/88TighteningCountervailing charge imposed on tomatoes originating in Poland (Regulation 3203/88).
    10/19/88LiberalizationCountervailing charge on apples originating in Portugal eliminated (Regulation 3214/88).
    10/20/88TighteningCountervailing charge imposed on cucumbers originating in Spain (except the Canary Islands) (Regulation 3233/88).
    10/27/88LiberalizationCountervailing charge on tomatoes originating in Poland eliminated (Regulation 3339/88).
    10/27/88LiberalizationAntidumping duties on lithium hydroxide imported from the U.S.S.R. and the United States expired (88/C/307/22).
    10/28/88LiberalizationCountervailing charge on tomatoes originating in Romania eliminated (Regulation 3374/88).
    11/4/88TighteningProvisional antidumping duties on imports of serial-impact-fully-formed character printers originating in Japan extended (Regulation 3451/88).
    11/14/88LiberalizationCountervailing charge on apples originating in Australia eliminated (Regulation 3534/88).
    11/17/88TighteningCountervailing charge imposed on fresh lemons originating in Spain (except the Canary Islands) (Regulation 3581/88).
    11/17/88TighteningCountervailing charge imposed on tomatoes originating in Spain (except the Canary Islands) (Regulation 3582/88).
    11/18/88TighteningCountervailing charge imposed on fresh lemons originating in Cyprus (Regulation 3603/88).
    11/18/88TighteningDefinitive antidumping duties imposed on imports of certain iron or steel sections originating in Yugoslavia and Turkey (Regulation 3599/88/ECSC).
    11/23/88TighteningCountervailing charge imposed on tomatoes originating in Morocco (Regulation 3649/88).
    11/23/88LiberalizationCountervailing charge on fresh lemons originating in Spain (except the Canary Islands) eliminated (Regulation 3650/88).
    11/23/88TighteningDefinitive antidumping duties imposed on dot-matrix printers originating in Japan (Regulation 3651/88).
    11/24/88LiberalizationCountervailing charge on fresh lemons originating in Cyprus eliminated (Regulation 3671/88).
    11/25/88TighteningCountervailing charge imposed on artichokes originating in Spain (except the Canary Islands) (Regulation 3690/88).
    11/28/88TighteningProvisional antidumping duties on imports of copper sulphate originating in Bulgaria and the U.S.S.R. extended for two months (Regulation 3720/88).
    12/1/88LiberalizationCountervailing charge on artichokes originating in Spain (except the Canary Islands) eliminated (Regulation 3766/88).
    12/5/88TighteningCountervailing charge imposed on fresh tangerines originating in Morocco (Regulation 3796/88).
    12/7/88TighteningCountervailing charge imposed on fresh tangerines originating in Spain (except the Canary Islands) (Regulation 3821/88).
    12/7/88TighteningCountervailing charge imposed on fresh lemons originating in Turkey (Regulation 3820/88).
    12/12/88LiberalizationCountervailing charge on tangerines originating in Spain (except the Canary Islands) eliminated (Regulation 3855/88).
    12/12/88TighteningDefinitive antidumping duties imposed on imports of paracetamol originating in China (Regulation 3923/88).
    12/12/88TighteningDefinitive antidumping duties imposed on imports of polyester yarn originating in the Republic of Korea, Mexico, Taiwan Province of China, and Turkey (Regulation 3905/88).
    12/16/88TighteningDefinitive antidumping duties imposed on imports of synthetic fibers of polyesters originating in Mexico, Romania, Taiwan Province of China, Turkey, the United States, and Yugoslavia (Regulation 3946/88).
    12/19/88TighteningProvisional antidumping duties on imports of urea originating in Austria, Hungary, Malaysia, Romania, the United States, and Venezuela extended (Regulation 4018/88).
    12/19/88TighteningProvisional antidumping duties on imports of certain video cassette recorders originating in Japan and the Republic of Korea extended (Regulation 4019/88).
    12/23/88TighteningProvisional antidumping duties imposed on imports of video cassettes and video tape reels originating in the Republic of Korea and Hong Kong (Regulation 4062/88).
    Developing countries—fuel exporters
    Bahrain1/1/88TighteningCustoms duties on alcoholic beverages and tobacco raised to 125 percent and 50 percent.
    3/1/88ExtensionTemporary 20 percent protective tariffs on imports of 11 locally manufactured goods extended for further 12 months through end of February 1989.
    Indonesia11/21/88TighteningTariff rates on 72 products increased.
    11/21/88LiberalizationTariff rates on 86 products reduced.
    Saudi Arabia1/2/88TighteningMinimum customs tariff rate raised to 12 percent and the number of duty-free imports reduced.
    9/6/88LiberalizationExemption from customs duty granted to 44 items.
    Developing countries—other
    Argentina3/25/88LiberalizationCustoms duties on petrochemical and iron and steel products reduced.
    4/18/88LiberalizationDuties on a number of agrochemical products reduced.
    6/6/88LiberalizationCustoms duties eliminated on some agricultural machinery and equipment and set in range of 10–38 percent for others.
    10/21/88LiberalizationTariff band for most imports narrowed to 0–40 percent, maximum tariff rate reduced from 115 percent to 40 percent, and special surcharge on electronic goods reduced. Fifteen percent special import surcharge abolished.
    Bolivia4/1/88LiberalizationTariffs on capital goods reduced to 10 percent; tariffs on other goods to be reduced by 1 percentage point each quarter until tariff level unified at 10 percent by end-1990.
    12/29/88TighteningPlanned reduction in tariffs on noncapital goods suspended.
    Brazil6/17/88LiberalizationNew tariff schedule introduced.
    Burundi4/1/88TighteningTariffs on luxury goods introduced.
    10/6/88LiberalizationDuty drawback procedures for exporters simplified.
    Chile1/5/88LiberalizationCustoms tariff rates reduced uniformly from 20 percent to 15 percent.
    5/13/88LiberalizationImport duty drawback scheme extended.
    10/8/88TighteningMinimum customs reference prices established for certain imports.
    11/9/88TighteningMinimum customs reference prices established for certain imports.
    China, People’s Republic of2/2/88LiberalizationCustoms duties on imports of certain machine tool parts and components lowered from 12 percent to 9 percent.
    2/2/88TighteningImport duties on such items as air conditioners, refrigerators, washing machines, electronic music instruments, textile machinery, and complete machine tools raised.
    5/5/88LiberalizationCustoms duties on some 23 items, including intermediate products used in production of farm chemicals and unfinished precious stones lowered.
    7/1/88TighteningCustoms duties on farm items and aluminum sheets, cans, and containers raised.
    9/9/88LiberalizationCustoms duties on ply layers for plywood reduced.
    9/9/88TighteningCustoms duties on film, color television sets, and tape recorders raised.
    9/15/88TighteningSurcharge of 40 percent levied on imports by Beijing-based government organizations and businesses of such goods as automobiles, motorcycles, television sets, refrigerators, washing machines, air conditioners, and cameras.
    Colombia3/4/88LiberalizationTariff preferences granted to certain imports from Argentina.
    4/21/88LiberalizationImport tariffs on capital goods reduced; tariff dispersion narrowed.
    5/19/88TighteningSurcharge levied on certain goods brought in by travelers.
    9/23/88LiberalizationImport tariffs on capital goods reduced.
    10/3/88LiberalizationTariff preferences granted to certain imports from Uruguay.
    Dominica7/1/88LiberalizationCustoms service charge reduced.
    Dominican Republic2/8/88TighteningReference exchange rate used for customs valuation purposes modified.
    Egypt3/21/88TighteningExchange rate for customs valuation purposes to be officially determined periodically.
    Gambia, The7/1/88LiberalizationImport tax of 6 percent of the c.i.f. value abolished.
    Greece1/1/88LiberalizationRegulatory tax on imported goods reduced.
    Hungary4/1/88LiberalizationCustoms clearance and statistical fees reduced.
    India4/1/88LiberalizationImport duties on 99 capital goods items reduced.
    Jordan8/13/88TighteningImport tariffs on certain products raised.
    8/13/88LiberalizationImport tariffs on certain products reduced.
    8/13/88LiberalizationImport tariffs on certain products exempted.
    11/6/88TighteningImport tariffs on certain products raised.
    Korea1/1/88LiberalizationTariff quotas for 356 items established by lowering their rates by average of 9.9 percentage points.
    2/24/88LiberalizationTariff quotas for 117 items established by lowering their rates by average of 7.5 percentage points.
    7/1/88LiberalizationTariff rates for 691 items reduced by average of 8.5 percentage points.
    11/22/88LiberalizationTariff rates for 1,071 items reduced by average of 6.4 percentage points.
    Lesotho8/12/88TighteningZero percent to 60 percent surcharge system replaced by across-the-board 10 percent system.
    Madagascar1/1/88LiberalizationSimplified eight-bracket tariff structure introduced. Temporary 30 percent surcharge introduced.
    4/1/88TighteningMinimum tariff rate raised to 5 percent for all imports, except those exempted in accordance with international treaties.
    7/1/88LiberalizationFive percent import license application fees eliminated.
    Malawi4/1/88LiberalizationCustoms duty and import levy schedules combined into one tariff schedule, and taxes on luxury imports shifted from old duty schedule to surtax schedule, which applies to both imported and domestically produced manufactured goods.
    Nicaragua2/15/88LiberalizationAll exchange taxes on imports eliminated.
    Singapore4/1/88LiberalizationImport duty on refrigerators eliminated.
    South Africa8/15/88TighteningVarying import surcharges ranging from 15 percent to 60 percent replaced uniform rate.
    Sri Lanka8/31/88TighteningStamp duty on import letters of credit raised from 2 percent to 3 percent.
    Sudan10/1/88TighteningDefense tax on nonessential imports (that is, all imports except petroleum and petroleum products, wheat and wheat flour, pharmaceuticals, fertilizers, insecticides, and selected industrial inputs) raised from 5 percent to 10 percent.
    Tanzania7/1/88LiberalizationExemptions from customs tariffs reduced and rate structure simplified.
    Thailand5/31/88LiberalizationImport duties on steel rods and billets reduced from 25 percent to 20 percent and 15 percent, respectively, to be effective until 12/15/88; duties reduced further on June 14 to 15 percent and 10 percent, respectively, also to be effective until 12/15/88.
    Trinidad and Tobago1/2/88TighteningStamp duty rates on capital and consumer goods raised.
    Turkey1/1/88LiberalizationTariffs on imports from EC cut.
    1/16/88LiberalizationTariffs over 50 percent cut to 50 percent or less.
    1/16/88TighteningNumber of items subject to premium payments raised from 577 to 787.
    7/23/88TighteningSurcharge raised from 4 percent to 8 percent.
    10/5/88TighteningPremium payments and stamp duties raised from 6 percent to 10 percent.
    Zimbabwe1/1/88LiberalizationBasis of customs tariffs changed to c.i.f. value.
    Advance Import Deposits
    Developing countries—fuel exporters
    Ecuador2/23/88TighteningRates and duration of advance import deposits raised.
    3/24/88LiberalizationAdvance import deposits on essential goods phased out.
    7/1/88TighteningPhasing-out of advance import deposits on essential goods suspended and rate raised.
    8/31/88TighteningAdvance import deposits extended to public sector imports.
    Developing countries—other
    Bangladesh7/1/88LiberalizationImport letter of credit margin requirement of Bangladesh Bank eliminated.
    7/5/88LiberalizationAdvance foreign exchange deposit requirement of Bangladesh Bank eliminated.
    El Salvador2/1/88LiberalizationTwenty percent guarantee deposit requirement abolished.
    2/1/88LiberalizationRate of advance import deposits lowered to 75 percent.
    6/1/88LiberalizationRate of advance import deposits lowered to 50 percent.
    9/1/88LiberalizationRate of advance import deposits lowered to 25 percent.
    12/31/88LiberalizationAdvance import deposit requirements abolished.
    Israel1/1/88LiberalizationImport deposit requirement eliminated.
    Madagascar2/1/88TighteningPrior import deposits for import of raw materials and spare parts introduced.
    5/10/88LiberalizationPrior import deposits for import of raw materials and spare parts eliminated.
    Turkey2/4/88TighteningGuarantee deposit rate raised from 7 percent to 15 percent.
    5/1/88LiberalizationGuarantee deposit rate reduced from 15 percent to 7 percent.
    10/5/88TighteningAdvance deposit rate raised from 7 percent to 15 percent.
    Yemen Arab Republic1/9/88LiberalizationMargin deposits reduced from a range of 40–100 percent to a range of 25–50 percent.
    Other Import Measures
    Industrial countries
    Australia9/1/88LiberalizationAntidumping procedures amended.
    Italy1/20/88LiberalizationCompulsory foreign financing of advance import payments abolished.
    8/20/88LiberalizationSome 80 items originating in state trading countries subject to import quotas permitted to be marketed without restriction.
    Japan4/22/88LiberalizationCooperative research between Japanese users and U.S. makers of semiconductors and microchips agreed.
    United States8/23/88TighteningThree-year ban on sale of goods manufactured by Toshiba Company of Japan imposed.
    11/15/88LiberalizationControls on shipments to Finland of certain products intended for re-export from Finland to China removed.
    12/21/88LiberalizationMFN status for China renewed (53 FR 51217) renewed.
    12/29/88LiberalizationMexico reinstated as eligible to export beef, mutton, pork, and goat products to the United States.
    EEC countries
    1/1/88TighteningCertain petroleum products refined in Turkey subjected to Community import surveillance (Council Regulation (EEC) 4175/87, 12/21/87).
    1/1/88TighteningImports of certain cotton and wool textile products originating in Malta subjected to ceiling and Community import surveillance (Council Regulation (EEC) 4166/87, 12/21/87).
    1/1/88TighteningImports of goods falling under the ECSC Treaty originating in Yugoslavia (that is, certain iron and steel products) subjected to ceiling and Community import surveillance (87/612/ECSC).
    7/1/88TighteningImports of dessert apples originating in New Zealand subjected to licensing (Regulation No. 1934/88).
    Developing countries—fuel exporters
    Bahrain1/1/88TighteningGovernment procurements required to give preference to goods produced in Bahrain or within Gulf Cooperation Council (GCC) member countries if prices of these goods are within specified margins of the prices of imported substitutes.
    Ecuador8/31/88TighteningSurrender requirement period for export proceeds shortened.
    Mexico4/1/88TighteningAdvance payment for imports exceeding $10,000 restricted to 20 percent of import value.
    Saudi Arabia11/21/88LiberalizationImport eligibility for some 301 products relaxed.
    Trinidad and Tobago1/2/88LiberalizationForeign exchange (trade certificates) allocation system made more flexible.
    Developing countries—other
    Barbados3/17/88TighteningCertain vegetable oils subjected to import licensing requirements.
    3/17/88LiberalizationImport licensing requirements for soybean oil, coconut oil, and corn oil abolished.
    4/12/88TighteningGift wrapping papers subjected to import licensing requirements.
    Botswana3/21/88LiberalizationLimit up to which exchange control formalities not required in respect of payment for imports increased.
    Brazil5/25/88LiberalizationMinimum financing requirements liberalized.
    7/22/88LiberalizationReference prices for imports and minimum import values abolished.
    11/30/88LiberalizationMinimum financing requirements liberalized.
    Burundi4/1/88LiberalizationCeiling on import licenses commercial banks are authorized to approve raised.
    Chile6/22/88LiberalizationImports valued at less than $5,000 exempted from 120-day minimum financing requirement.
    12/31/88LiberalizationImports valued at less than $20,000 exempted from 120-day minimum financing requirement.
    Colombia3/3/88LiberalizationLists of goods freely importable and subject to prior licensing modified.
    Fiji4/1/88TighteningAuthorized banks permitted to approve advance import payments only up to F$2,000.
    Gambia, The7/1/88LiberalizationImports subject to a national sales tax of 10 percent.
    Guyana6/1/88LiberalizationImport licensing requirements for “no-foreign currency” imports for personal use abolished.
    9/1/88LiberalizationImport licenses for “no-foreign currency” imports granted automatically.
    10/1/88LiberalizationImport licensing requirements for goods originating from Caribbean Common Market (Caricom) countries abolished.
    Honduras8/1/88LiberalizationLimit on amount of foreign exchange commercial banks allowed to provide against CETRAs raised.
    9/1/88LiberalizationCommercial banks allowed to intermediate sale of CETRAs.
    11/10/88TighteningLimit on amount of foreign exchange commercial banks allowed to provide against CETRAs reduced.
    11/10/88TighteningWaiting period for granting authorization for self-financed imports introduced.
    Israel7/1/88LiberalizationCommercial banks allowed to finance imports of equipment from funds available in foreign currency deposits of nonresidents.
    Korea1/1/88LiberalizationEight items removed from import surveillance list.
    Madagascar9/1/88LiberalizationPreferential treatment for basic import needs of exporting firms introduced.
    Malawi2/1/88LiberalizationProcedure for allocating foreign exchange for about 25 percent of imports of nonpetroleum raw materials and spare parts liberalized.
    8/8/88LiberalizationProcedure for allocating foreign exchange for additional 50 percent of imports of nonpetroleum raw materials and spare parts liberalized.
    9/22/88LiberalizationWheat flour, cement, and pencils removed from items requiring specific import licenses.
    Maldives4/1/88LiberalizationNumber of licensed importers increased.
    Mauritania6/1/88LiberalizationImport licensing requirement for small enterprises replaced by foreign exchange authorization by Central Bank.
    Mauritius2/22/88LiberalizationCustoms administration reform and international standardization of goods classification introduced.
    7/1/88LiberalizationLimit on import payments requiring prior approval eliminated for most imports.
    Morocco2/29/88LiberalizationPayment period for imports lengthened from a maximum of 12 months to 24 months.
    5/4/88LiberalizationImports without payment exempted from a visa requirement from the Exchange Office.
    Peru9/17/88TighteningSale of foreign exchange in advance for payment of imports with external financing prohibited.
    Philippines4/25/88LiberalizationPrior approval requirement for some 129 products abolished.
    11/10/88LiberalizationMinimum repayment terms for OA/DA imports reduced.
    12/22/88LiberalizationPrior approval requirement for some 94 products abolished.
    Poland5/10/88LiberalizationTargeted auctions introduced to broaden the scope for noncentral financing of imports; retention rates under ROD system began to be simplified and scope for use of foreign exchange retained under ROD accounts broadened.
    Sri Lanka7/11/88LiberalizationLicensing requirements for imports of machinery for plastics and automatic filling and packing industry abolished.
    8/5/88LiberalizationLetters of credit for imports of maize permitted to be established.
    Sudan10/25/88TighteningSome categories of imports transacted in the official market.
    12/1/88LiberalizationTwenty-two categories made eligible to import using either commercial bank market resources or own resources.
    7/1/88LiberalizationSystem of import licensing simplified.
    Thailand1/6/88LiberalizationImports of kraft paper and corrugated paperboard permitted.
    1/8/88LiberalizationImports of soybean oil permitted 3/31/88.
    3/4/88LiberalizationImports of 5,000 tons of palm oil permitted.
    3/15/88LiberalizationCredit card holders in Thailand permitted to use credit cards abroad for import payments by submitting an application prior to their departure.
    5/24/88LiberalizationImports of steel rods permitted.
    6/7/88LiberalizationImports of sodium borate, sodium borate, sodium tetraborate, sodium pyborate, borax, boric acid, boraid acid, orthoborid acid, and borofax permitted.
    8/31/88TighteningProportion of required local purchases to imports of silk warp increased from 4 percent to 5 percent.
    Uruguay11/9/88LiberalizationImport procedures for fruits and vegetables simplified.
    Western Samoa12/1/88LiberalizationCentral bank approval requirement abolished for a number of products.
    Yemen Arab Republic1/1/88LiberalizationNonpetroleum exporters allowed to use 100 percent (instead of 50 percent) of export earnings to finance imports.
    Zaïre5/31/88TighteningPrior permission required for “imports without foreign exchange.”
    Exports and Export Proceeds
    Quantitative Restrictions and Controls on Exports
    Industrial countries
    Australia1/1/88LiberalizationControls on exports of petroleum and petroleum products lifted.
    6/14/88LiberalizationControls on exports of defense-related goods relaxed.
    Japan4/1/88ExtentionVoluntary restraints on exports of passenger cars to the United States extended.
    7/20/88LiberalizationVoluntary quota on exports of passenger cars and trucks to the EC increased by 3.5 percent.
    8/1/88TighteningVoluntary restraints introduced on exports of passenger cars and trucks to Sweden.
    12/3/88LiberalizationSixteen items added to list of products allowed to be exported to China.
    New Zealand9/16/88TighteningNew Zealand agreed to limit beef exports to the United States in 1988.
    Developing countries—fuel exporters
    Indonesia7/1/88TighteningExports of semiprocessed rattan prohibited.
    9/20/88TighteningExports of chipwood and low-price sawn timber prohibited.
    Nigeria1/29/88LiberalizationExports of refined petroleum products to West African countries permitted.
    Developing countries—other
    China, People’s Republic of12/20/88TighteningEffective 1/1/89, exports of copper, copper-based alloys, aluminum and aluminum-based alloys, platinum, yellow phosphorous and nickel and nickel-based alloys, rubber, certain chemicals, and metal products prohibited.
    India4/1/88LiberalizationNumber of products subject to export controls reduced to 172.
    Madagascar1/18/88Liberalization(1) Exports of pepper and cloves by private sector exporters allowed; (2) export card and export declaration requirements abolished; and (3) domestic trade in export crops fully liberalized.
    6/2/88LiberalizationExports of coffee by private sector exporters allowed for the period 5/88–5/89.
    9/1/88Liberalization(1) Exports of all agricultural products, with the exception of vanilla, allowed at prices negotiated freely between exporters and foreign buyers; (2) all administrative controls on quality of export goods, except for the following four products, eliminated: vanilla, coffee, shellfish, and meat; and (3) certificate of quality required for cloves exports until end-December 1988.
    Pakistan7/1/88LiberalizationControls on private sector exports of cotton and Basmati rice liberalized.
    7/5/88LiberalizationLimits on export of trade samples raised.
    Thailand1/1/88ExtensionQuota allocations for thread, cloth, and garments changed.
    7/21/88TighteningExports of luggage made of silk blend and noncotton vegetable fiber subjected to approval.
    7/26/88LiberalizationCoffee exports unfilled under 1987/88 quotas permitted during 10/88–9/89. Exporters owing these quotas required to deposit B 10,000 for each ton not yet exported, with deposits being redeemable when requirement is fulfilled.
    Export Licensing
    Industrial countries
    United States3/10/88LiberalizationLicensing controls on exports of certain jig grinders removed.
    Developing countries—other
    Brazil5/19/88LiberalizationPrior control on exports of some products eliminated.
    China, People’s Republic of7/1/88LiberalizationExport licensing requirement on some items abolished.
    Paraguay3/9/88LiberalizationSystem of “one-stop” export approval (ventanilla unica) established.
    Poland7/1/88LiberalizationSystem of export licensing simplified.
    Sri Lanka1/1/88LiberalizationExport licensing requirement for coconuts and coconut products abolished.
    1/14/88LiberalizationExport licensing requirement for rubber abolished.
    Togo3/14/88LiberalizationExport licensing requirement for domestically produced manufactured goods abolished.
    Fiscal and Other Incentives
    Developing countries—other
    Bangladesh7/1/88ExtensionExport policy order 1988/89 extended export incentives.
    7/1/88ExtensionExport Performance Benefit Scheme extended.
    9/5/88ExtensionExport Performance Benefit Scheme extended.
    Greece1/1/88LiberalizationCertain export subsidies reduced.
    1/1/88LiberalizationCertain export subsidies eliminated.
    Honduras6/23/88LiberalizationCoverage of CETRAs expanded.
    8/20/88LiberalizationPercentage of proportion of CETRAs issued for nontraditional exports increased.
    Hungary1/1/88LiberalizationTax refund on exports settled in convertible currencies terminated.
    India4/1/88LiberalizationExporters of computer software made eligible for issues of blanket foreign exchange permits for export promotion purposes.
    4/1/88LiberalizationAccess to exporters of fiscal and other incentives related to the cost of imported inputs extended.
    Nepal1/1/88LiberalizationBonded warehouse facility and duty drawback system for garment industry expanded.
    Nicaragua2/15/88LiberalizationGuaranteed producer prices for traditional export products eliminated.
    Peru2/24/88LiberalizationForeign exchange earnings from exports of textiles made of cotton, wool, and alpaca permitted to be exchanged into bank certificates denominated in foreign exchange.
    4/28/88TighteningTax credit certificates for nontraditional exports (CERTEX) to be denominated in domestic currency but to be adjusted by no less than changes in the controlled exchange rate (MUC) rate.
    6/17/88LiberalizationExporters of traditional mining and fish products to receive Foreign Exchange Certificates (CLDs) equivalent to 10 percent of f.o.b. value of exports. Certificates may be used by exporter for payment of imports of inputs, spare parts, and capital equipment, or be transferred to other export enterprises; if not used within 90 calendar days, CLDs would be redeemed at exchange rate prevailing at the issuing date.
    7/23/88LiberalizationAll exporters to receive CLDs for the equivalent of 10 percent of their foreign exchange earnings.
    11/22/88LiberalizationAll exporters to receive CLDs for the equivalent of 30 percent of their export earnings.
    11/22/88TighteningExport earnings subject to taxes of 10 percent or 3 percent.
    Poland1/1/88LiberalizationExport subsidy system simplified to provide for uniform subsidy rates of 20 percent for agricultural exports to the nonruble area and 50 percent for those to the ruble area.
    7/1/88LiberalizationExport subsidy system further simplified to provide for uniform rates of subsidies (ranging from 5 percent to 25 percent) for nonagricultural exports to the nonruble area.
    Thailand4/8/88LiberalizationExport bonus ratio changed from 1:1 to 1.3:1 for exports of tapioca products to non-EC and EC member countries.
    5/31/88ExtensionReduction of business tax on tin and tin ore exports to 1 percent of gross receipts extended for another year.
    Turkey3/1/88TighteningIncentives for early surrender of foreign exchange earnings introduced.
    4/5/88LiberalizationGradual elimination of tax rebate system announced.
    7/1/88LiberalizationExport subsidy system further simplified to provide for uniform rates of subsidies (ranging from 5 percent to 25 percent) for nonagricultural exports to the nonruble area.
    7/26/88TighteningNumber of goods eligible for support premia increased.
    10/5/88TighteningMinimum export requirements for income tax deductions raised.
    Export Taxation
    Developing countries—other
    Brazil2/10/88TighteningExport earnings subjected to corporate income tax.
    2/11/88LiberalizationExport tax on some exports to the United States abolished.
    China, People’s Republic of7/8/88TighteningExport duties introduced on copper and aluminum and a number of products made from these materials.
    9/20/88TighteningExport taxes levied on phosphorous, some petrochemicals, iron, lead, and zinc.
    10/26/88TighteningExport duties on raw silk and some silk products raised.
    Dominican Republic1/26/88TighteningGraduated tax rates applied to coffee exports.
    Paraguay2/8/88TighteningTax of $15 a bag levied on coffee in transit.
    Thailand7/19/88LiberalizationExport fee on frozen duck reduced.
    Special Credit Facilities
    Developing countries—other
    Argentina6/3/88TighteningExport prefinancing and financing regimes revised to increase incentives to obtain external finance and to impose stricter control on use of export finance.
    Thailand4/11/88TighteningPromissory notes issued by sugarcane exporters to be temporarily refinanced by the Bank of Thailand in specified proportions.
    5/27/88TighteningPromissory notes issued by rice exporters to be temporarily refinanced by the Bank of Thailand in specified proportions.
    Turkey4/5/88TighteningGradual introduction of two subsidized credit facilities for exporters announced.
    Other Incentives
    Industrial countries
    Italy1/20/88LiberalizationForeign currency financing requirement for deferred export settlement abolished.
    United States7/15/88LiberalizationAgreement reached with Japan on phasing-out of Japan’s import quotas on beef (in three years) and on oranges and orange juice (in four years).
    8/12/88LiberalizationAgreement reached with Japan on Japan’s import quotas on 11 categories of processed food products (to become effective on 4/1/90).
    Developing countries—fuel exporters
    Syrian Arab Republic1/28/88LiberalizationPublic sector enterprises permitted to retain export proceeds.
    10/31/88LiberalizationConversion rate used for surrender requirement changed to promotion rate.
    Developing countries—other
    Chile4/9/88LiberalizationRepatriation period for export proceeds held as swaps or foreign exchange deposits in the domestic banking system extended.
    Jordan11/27/88LiberalizationExporters allowed to retain 50 percent of proceeds and use them for imports of inputs.
    Madagascar1/18/88LiberalizationMaximum period for repatriation of foreign exchange changed to 90 days from the date of shipment of goods.
    Morocco3/23/88LiberalizationDelays in certain export payments permitted without the authorization of the Exchange Office.
    3/28/88LiberalizationExport commissions up to a maximum of 5 percent became transferable without the approval of the Exchange Office.
    Mozambique1/1/88LiberalizationRange of retention for traditional exports reduced from 30–100 percent to 30–70 percent.
    7/27/88LiberalizationMaximum export commissions not requiring the approval of the Exchange Office raised from 5 percent to 10 percent.
    Nicaragua2/15/88LiberalizationAll differential surrender requirements for the proceeds from nontraditional exports (except industrial exports) eliminated.
    Pakistan7/1/88LiberalizationCertain minimum export prices abolished.
    Paraguay2/8/88TighteningMerchandise in transit subjected to registration at the Central Bank.
    3/7/88LiberalizationSurrender price for cotton reduced from $950 to $600 per ton.
    7/28/88LiberalizationSurrender price for beef reduced from 22 to 10 percent of actual world prices.
    11/17/88LiberalizationSurrender price for a variety of nontraditional export products reduced to 10 percent of actual world prices.
    Sri Lanka1/27/88LiberalizationMinimum export prices for spices and allied products abolished.
    Sudan10/25/88LiberalizationAll export proceeds to be distributed between official market and commercial bank market in the proportion of 70 percent and 30 percent, respectively.
    10/31/88LiberalizationMinimum export prices abolished except for certain basic export commodities.
    Thailand4/22/88LiberalizationExports of maize, grain sorghum, green beans, kapok, wool, salt, and castor seed liberalized by permitting members of Thai Maize and Produce Traders Association to export.
    6/23/88ExtensionThe bonus quota of tapioca exports to EC countries from 9/23/88 to 12/31/88 set at 500,000 tons.
    Zaïre9/1/88IntroductionGold exporters allowed to retain 30 percent of their foreign exchange receipts.
    State Trading
    Developing countries—other
    Bangladesh7/19/88TighteningBarter protocol signed with China.
    China, People’s Republic of3/13/88LiberalizationControl over Foreign Trade Corporations decentralized. Additional enterprises given the right to engage directly in foreign trade.
    3/13/88LiberalizationForeign exchange retention quotas for enterprises in several industrial sectors (light industry, arts and crafts, clothing, and machinery) and in some regions (Hainan Island and special economic zones) liberalized.
    India4/1/88LiberalizationA total of 26 items allowed to be imported by private sector.
    Mali10/31/88LiberalizationSomiex abolished.
    Togo6/30/88LiberalizationImport Monopoly of Société Nationale de Commerce (Sonacom) for rice sugar, alcohol, cigarettes, tobacco products, and milk abolished.
    Current Invisibles
    Foreign Exchange Allocations for Travel,

    Medical Expenses, or Studying Abroad
    Industrial countries
    Italy6/13/88LiberalizationPayments for travel abroad liberalized as follows: (1) unlimited use of credit cards; (2) Italian bank notes up to Lit 1 million; (3) foreign exchange and external lire without limit but subject to certain conditions; and (4) checks drawn on domestic lire accounts without limit but subject to certain conditions.
    Developing countries—fuel exporters
    Tunisia6/15/88LiberalizationAuthorized banks allowed to supply foreign exchange for official travel.
    Developing countries—other
    Barbados11/10/88LiberalizationForeign exchange travel allowance for tourist and business travel and for education allowance abroad increased.
    Brazil9/9/88TighteningLimits on exchange allowances for travel to Central and South America reduced.
    9/28/88LiberalizationLimits on exchange allowances for travel to Central and South America increased.
    12/1/88LiberalizationLimits on exchange allowances for travel to all destinations increased.
    Botswana3/21/88LiberalizationBasic travel allowances (other than vacation) increased.
    3/21/88LiberalizationBasic overseas study and vacation travel allowances increased.
    3/21/88LiberalizationAmount of unutilized foreign currency travel allowances resident may retain for future travel requirements increased.
    3/21/88LiberalizationCommercial banks authorized to provide unlimited amounts to meet medical expenses abroad, subject to certain conditions.
    Chile3/16/88TighteningEighty percent of travel allowances for trips to neighboring countries to be allocated in nontransferable money orders.
    Greece1/1/88LiberalizationAllowance for travel to EC countries increased.
    6/22/88LiberalizationAllowance for travel abroad increased.
    Guinea1/2/88LiberalizationForeign exchange allocation for tourist travel increased.
    Hungary1/1/88LiberalizationAdditional travel allowances granted to persons who have exhausted three-year allowance.
    1/1/88LiberalizationRegulations on allowances for travel to Council for Mutual Economic Assistance (CMEA) countries liberalized.
    7/19/88LiberalizationTravel allowance for adults and children and allowance for purchase of railway tickets and fuel increased.
    India4/11/88LiberalizationSurrender period for foreign exchange brought back to India by a resident returning from abroad increased to a maximum of 90 days.
    Jamaica8/8/88LiberalizationAnnual allowance for nonbusiness travel increased.
    Korea11/1/88LiberalizationAutomatic purchase of up to $5,000 of foreign exchange by residents, in addition to $5,000 travel allocation authorized (amounts beyond these limits available for bona fide travel).
    Madagascar7/1/88LiberalizationForeign exchange allowance for business travel increased to $100 a person a day, subject to a maximum of $1,500 a trip and a limit of two trips a year.
    Malta1/1/88TighteningAnnual travel allowances reduced.
    Mauritius7/1/88LiberalizationCredit cards allowed to pay for travel expenses under certain conditions.
    Morocco1/26/88LiberalizationRegulations liberalizing the purchase of and reimbursement for tickets for foreign travel introduced.
    Pakistan4/21/88LiberalizationAllowances for study abroad increased.
    5/4/88LiberalizationUse of credit cards permitted for business travel.
    7/21/88LiberalizationAllowances for private travel to Bangladesh increased.
    8/31/88LiberalizationBusiness travelers allowed to settle credit card bills by encashing foreign exchange bearer certificates (FEBCs).
    Papua New Guinea1/5/88LiberalizationForeign exchange allocation for tourist and business travel doubled.
    Peru3/10/88TighteningSales of tickets for travel abroad on credit suspended.
    10/31/88LiberalizationPayments authorization requirement abolished.
    Poland12/1/88LiberalizationResident travelers allowed to take $500 out of country without official permission.
    Sri Lanka3/16/88LiberalizationAir tickets permitted to be purchased by nationals even if basic passage entitlements already utilized.
    5/16/88LiberalizationPassage tickets may be issued for travel abroad to nonnationals with payment in foreign currency.
    9/28/88LiberalizationBasic and business travel allowances increased.
    Western Samoa12/1/88LiberalizationLimits on foreign exchange allowances for travel increased.
    Yemen Arab Republic1/9/88LiberalizationLimits on sales of foreign exchange to travelers raised.
    1/9/88LiberalizationLimits on sales of foreign exchange for medical treatment abroad raised.
    1/15/88LiberalizationRequirement that visitors must convert a specified amount of foreign exchange upon arrival abolished.
    Zambia10/17/88LiberalizationAllowance for business travel increased.
    Outward Transfers or Payments for Services Rendered by Nonresidents
    Developing countries—other
    Botswana3/21/88LiberalizationLimit up to which authorized dealers may approve payments of dividends and branch or partnership profits to nonresident directors and companies increased.
    3/21/88LiberalizationBasic terminal allowance of a departing temporary resident increased.
    Chile5/17/88LiberalizationPremia of up to $50,000 for insurance contracted in Chile allowed to be paid without prior authorization of the Central Bank.
    Dominica7/1/88LiberalizationTax on sales of foreign exchange for invisibles payments abolished.
    Fiji7/18/88TighteningTransfers of rent abroad made subject to Reserve Bank approval.
    Guinea1/2/88LiberalizationTransfers abroad of salaries by expatriate workers authorized up to a limit of 50 percent of base earnings.
    Jamaica8/8/88LiberalizationAnnual allowances for remittances from emigrant property income, for family maintenance, and cash gifts increased.
    Korea11/1/88LiberalizationLimit on overseas remittances abroad for weddings and funerals increased to $2,000. Expenditures by businesses for commissions, payments to foreign experts, and operations abroad liberalized.
    Mauritius7/1/88LiberalizationCommercial banks authorized to provide foreign exchange for invisibles payments relating to all imports.
    Morocco2/17/88LiberalizationMoroccan enterprises allowed to settle expenses of nonresident foreigners in dirhams.
    Pakistan10/23/88LiberalizationCommission to foreign importers increased.
    Peru8/7/88TighteningProhibition of profit remittances abroad and private external debt servicing extended until end-1988.
    Import and Export of Foreign and Domestic Currency Notes,

    and Holdings of Foreign Currency Domestically
    Industrial countries
    Iceland6/1/88LiberalizationAmount of domestic bank notes residents and nonresidents take out and bring in increased to ISK 14,000.
    Italy4/14/88LiberalizationLimit on Italian bank note imports abolished.
    6/13/88LiberalizationItalian residents allowed to export Lit 1 million in Italian bank notes.
    Developing countries—other
    Botswana3/21/88LiberalizationAmount of Botswana currency notes and coins that may be exported by a traveler increased.
    3/21/88LiberalizationAmount of foreign currency bank notes and coins that may be exported by a traveler increased.
    3/21/88LiberalizationAmount in foreign exchange facilities that may be issued to nonresident travelers in exchange for pula notes increased.
    Korea3/25/88LiberalizationResidents permitted to retain up to $5,000 in foreign currency.
    3/26/88TighteningNonresidents prohibited from converting more than $20,000 of foreign currency into won on each visit.
    9/1/88TighteningLimit on conversion of foreign exchange to won by nonresidents lowered to $10,000 per visit.
    11/1/88LiberalizationLimit on export of Korean currency notes raised to W 2 million.
    Morocco3/8/88LiberalizationVisitors entitled to bring in foreign currency without limit and to repurchase foreign currency with dirhams.
    3/10/88LiberalizationExporters entitled to bring in foreign bank notes without declaring them at customs.
    1/28/88LiberalizationCustoms declarations no longer required for the importation of foreign exchange by Moroccans.
    3/21/88LiberalizationForeign currency accounts permitted to be credited without foreign bank notes customs declaration.
    Western Samoa12/1/88LiberalizationLimit on export of foreign currency by travelers increased.
    Zambia5/19/88TighteningForeign exchange received by authorized dealers required to be sold to Bank of Zambia.
    Capital Controls
    Commercial Banks’ International Transactions
    Industrial countries
    Italy10/1/88LiberalizationCommercial banks’ activity in foreign exchange liberalized as follows: (1) banks no longer required to balance their foreign exchange position daily against the lira, and allowed to keep unbalanced position not exceeding 5 percent of their total foreign currency assets as of December 1987; (2) the ceiling on forward operations against lire with spot cover increased by 50 percent for each authorized bank; (3) banks allowed to provide forward cover to residents also in respect of financial transactions; (4) banks allowed to write currency options, subject to certain prudential requirements; (5) banks free to extend loans in foreign currency to residents; and (6) banks allowed to lend lire to nonresidents to extend lira loans abroad up to the amount of lira deposits received from nonresidents.
    Japan3/22/88LiberalizationSpot option trading abroad by certain financial institutions allowed.
    Developing countries—fuel exporters
    Indonesia10/27/88LiberalizationReserve requirement ratio for foreign currency deposits reduced.
    Developing countries—other
    Egypt2/14/88LiberalizationCommercial banks allowed to use up to 10 percent of foreign exchange receipts a month to settle private debt service obligations falling due after 2/11/88.
    Malaysia9/12/88TighteningLimit of M$5 million a transaction imposed on swap arrangements.
    Morocco8/2/88LiberalizationBanks permitted to repurchase foreign exchange from the Bank Al-Maghrib under certain circumstances.
    Netherlands Antilles4/1/88TighteningMaximum net foreign assets position of commercial banks as a percentage of domestic assets reduced.
    Panama3/4/88TighteningA bank holiday declared.
    3/22/88LiberalizationAll general license banks with significant offshore operations permitted to request additional international license to continue their offshore operations during bank holiday.
    3/22/88LiberalizationChecks and money orders drawn against demand deposits (at general license banks) payable to the National Treasury permitted to be cashed without restriction.
    4/18/88LiberalizationAll general license banks allowed to reopen, but only to receive deposits.
    5/9/88LiberalizationAll general license banks allowed to resume all normal banking activities with the following restrictions: withdrawals permitted up to 25 percent of the balance as of 3/3/88, with a maximum of B 10,000; withdrawals from savings deposits limited to a maximum of B 50 a month; and time deposits frozen.
    7/7/88LiberalizationDemand deposits permitted to be withdrawn up to 40 percent of the balance as of 3/3/88, with a maximum of B 20,000.
    7/18/88LiberalizationDemand deposits permitted to be withdrawn up to 50 percent of the balance as of 3/3/88, with a maximum of B 50,000.
    8/15/88LiberalizationRestrictions on 50 percent of interbank deposit balances removed.
    1/1/89LiberalizationAll restrictions on demand deposit withdrawals abolished.
    Sri Lanka5/5/88LiberalizationAuthorized dealers permitted to purchase foreign currency in amounts up to £1,000 or its equivalent without permit.
    Thailand5/6/88LiberalizationAuthorized banks permitted to accept foreign notes and coins up to equivalent of $5,000 for deposit in a foreign currency account in favor of a person in transit or a person entering Thailand temporarily.
    6/9/88LiberalizationAuthorized banks permitted to export foreign notes in surplus of normal banking operations for deposit abroad without Bank of Thailand approval.
    Turkey2/9/88TighteningTransfer requirement on foreign exchange holdings raised.
    Zaïre2/19/88TighteningCeilings placed on banks’ net foreign asset positions.
    Zambia2/19/88TighteningCeilings placed on banks’ net foreign asset positions.
    Nonresidents’ Accounts and Residents’ Foreign Exchange Accounts
    Industrial countries
    France6/1/88Liberalization(1) All remaining restrictions on foreign borrowing by French enterprises, previously subject to authorization for amounts exceeding F 50 million, abolished; and (2) ceiling on amount of foreign currency that French companies with international operations may hold abroad removed.
    Italy1/20/88LiberalizationMaximum holding periods for funds credited to foreign exchange accounts lengthened.
    10/1/88LiberalizationNonbank residents not required to have authorization to acquire assets and liabilities abroad, with certain exceptions, provided transactions conducted through banks authorized by the Bank of Italy to deal in foreign exchange and foreign securities acquired abroad kept in deposit with banks.
    Japan1/29/88LiberalizationIssuance of commercial papers by nonresidents in Japanese markets allowed.
    Spain5/10/88LiberalizationExporters allowed to maintain foreign exchange accounts credited with 25 percent of export proceeds.
    Developing countries—fuel exporters
    Syrian Arab Republic10/30/88LiberalizationFifty percent of funds held in accounts of embassies and international organizations permitted to be converted at promotion rate.
    Tunisia8/18/88LiberalizationInternational trading companies allowed to operate nonresident foreign accounts in convertible dinar and convertible currencies.
    Developing countries—other
    Botswana3/21/99LiberalizationLimit up to which authorized dealers may approve emigration allowances for permanent residents increased.
    Dominican Republic5/12/88LiberalizationCommercial banks permitted to offer time and savings deposits with minimum balances and interest rate limits.
    5/13/88TighteningExchange deposit accounts abolished.
    5/20/88LiberalizationAccounts denominated in U.S. dollars permitted to be opened in mortgage banks and savings and loan associations.
    Fiji9/1/88LiberalizationControls on transfers of emigrant funds liberalized.
    Guinea1/2/88LiberalizationResidents and nonresidents permitted to open accounts in convertible Guinean francs.
    Hungary1/1/88LiberalizationLimit on income in convertible currencies earned by residents from specified activities that can be deposited in foreign currency accounts increased.
    1/1/88LiberalizationInterest earnings on foreign currency accounts permitted.
    3/31/88LiberalizationThree-month time period requirement during which residents must declare convertible currency holdings originating from unspecified sources abolished.
    Israel2/4/88TighteningImmigrants allowed to hold assets abroad and maintain free foreign currency accounts in Israel for 30 years.
    2/4/88LiberalizationImmigrants and returning Israelis allowed to bring back foreign currency into unrestricted accounts after 12 months or more after initial conversion.
    Jordan6/6/88TighteningCommercial banks prohibited from extending dinar loans against foreign currency deposits.
    7/2/88LiberalizationJordanian nationals working abroad allowed to maintain deposits in foreign currencies without limit and use balances without restrictions.
    Korea3/25/88LiberalizationForeign exchange allowances for emigrants raised to $200,000 a household or $300,000 for emigration for business purposes.
    Lesotho8/12/88TighteningTransfers of earnings on blocked accounts of emigrants limited to M 300,000 a year.
    Mauritania9/1/88LiberalizationConvertible accounts permitted to be credited with 15 percent of export proceeds repatriated by the fisheries sector.
    Mauritius7/1/88LiberalizationEmigrant allowance increased.
    Morocco5/2/88LiberalizationNonresident Moroccans permitted to open and maintain convertible dirham accounts.
    Peru9/23/88LiberalizationCentral Reserve Bank permitted to authorize opening and maintenance of deposits in foreign exchange.
    9/29/88LiberalizationFinancial system authorized to receive and maintain checking and time deposits in foreign exchange. Deposits to be exempted from reserve requirements. Financial system would not extend credit based on these accounts, but may sell foreign exchange for tourism abroad and “own-funds” imports.
    Poland7/1/88LiberalizationDeclaration requirement for sources of funds for accounts “A” abolished.
    Portugal11/30/88LiberalizationRegulations on nonresident demand accounts in escudos liberalized.
    Somalia8/7/88LiberalizationHolders of foreign exchange accounts allowed to trade in foreign exchange at rates negotiated freely among them.
    South Africa2/23/88LiberalizationAuthorized dealers permitted to release to immigrants through financial rand medium assets of up to R 100,000 a family during first three years of residence.
    8/15/88TighteningTransfer abroad of income earned by emigrants through medium of commercial rand limited to R 300,000 a calendar year and excess amount to be credited to financial rand account.
    Sri Lanka5/5/88LiberalizationAuthorized dealers permitted to open and maintain nonresident foreign currency accounts for Sri Lankan nationals employed abroad and for nonnationals of Sri Lankan origin resident abroad.
    Zaïre6/3/88LiberalizationEligibility limitations for foreign exchange accounts liberalized.
    Portfolio Investment
    Industrial countries
    Denmark10/1/88LiberalizationAll restrictions on inward and outward capital transfers abolished.
    Finland8/1/88Liberalization(1) Ceiling on direct investment, purchases of foreign securities, and real estate raised to Fmk 0.3 million; and (2) nonfinancial enterprises no longer required permission for direct investment abroad.
    Iceland3/10/88TighteningTax rates on foreign borrowing raised.
    5/20/88LiberalizationBasis of borrowing for capital goods imports changed from contract to f.o.b. import value.
    Norway12/5/88LiberalizationRestrictions on long-term foreign borrowing by commercial enterprises liberalized.
    Spain6/14/88TighteningMinimum maturity period of foreign currency borrowing not subject to authorization raised from one to three years.
    Sweden2/12/88LiberalizationRestrictions on sales of shares to foreigners lifted.
    Developing countries—other
    Botswana3/21/88LiberalizationInitial tranche of local financial support that a non-resident-controlled business entity may borrow in Botswana increased.
    3/21/88TighteningParastatals advised that they should not borrow from outside Botswana unless equivalent facilities not available domestically.
    Brazil7/28/88IntroductionRegulations on foreign capital participation in mutual funds introduced.
    Chile3/8/88LiberalizationMortgage debtors allowed to engage in debt conversions under Article XVIII of Foreign Exchange Laws.
    Greece11/23/88LiberalizationResidents allowed to purchase securities issued by EC or European Investment Bank within limit.
    Israel9/15/88LiberalizationThree percent levy on foreign exchange loans abolished.
    Korea3/19/88LiberalizationLimit on foreign exchange holdings for investment in foreign securities by Korean securities firms raised; insurance and investment trust firms authorized to hold up to $10 million.
    Morocco3/1/88LiberalizationNew types of foreign investment allowed in Morocco.
    6/13/88LiberalizationNew regulations regarding investment by Moroccans living abroad announced.
    Papua New Guinea1/1/88LiberalizationAnnual limit for investment abroad increased by 50 percent.
    1/1/88LiberalizationMoratorium period on foreign loans reduced to one year after disbursement.
    Peru6/29/88LiberalizationAny person or entity permitted to repatriate capital without revealing origin of funds.
    Turkey7/20/88LiberalizationRestrictions on foreign participation in domestic securities market eased.
    Viet Nam10/21/88LiberalizationResidents permitted to borrow abroad for working capital purposes, subject to reporting requirements.
    Direct Investment
    Industrial countries
    Australia1/22/88LiberalizationGuidelines for local equity participation in new oil and gas projects exceeding $A 10 million waived.
    France9/24/88LiberalizationPrior authorization requirement for new direct investments in France by non-EC residents eliminated.
    Spain12/19/88LiberalizationDirect investments abroad in companies engaged in portfolio and real estate investment activities permitted.
    12/19/88LiberalizationCeilings on real estate investment abroad abolished.
    Sweden2/12/88LiberalizationRestrictions on financing of direct investment lifted.
    6/1/88LiberalizationBanks authorized to grant permits for direct investment in certain areas.
    Developing countries—fuel exporters
    Nigeria7/5/88LiberalizationGuidelines on an external debt-conversion program for Nigeria published.
    Developing countries—other
    Brazil11/30/88LiberalizationInvestment abroad by Brazilian enterprises at official exchange rate allowed under certain conditions.
    China, People’s Republic of4/13/88LiberalizationNew Chinese-foreign cooperative joint ventures law adopted.
    Dominica1/1/88LiberalizationInvestment tax credit of 10 percent introduced.
    1/1/88LiberalizationReinvested profits exempted from withholding tax on profits.
    Greece11/23/88LiberalizationDirect investments in EC by residents liberalized.
    11/23/88LiberalizationReal estate investment by emigrants in EC countries permitted.
    India7/1/88LiberalizationPeriod during which foreign companies that transfer technology to Indian companies without taking an equity position can receive royalty payments extended.
    Korea1/7/88LiberalizationForeign investment in advertising, motion picture distribution, and insurance industries liberalized.
    10/19/88LiberalizationForeign subsidiaries and joint ventures authorized to import and distribute all products except for 12 restricted items.
    11/1/88LiberalizationLimit for overseas investments subject to automatic approval raised.
    Malaysia7/19/88LiberalizationForeign stock brokerage firms allowed to increase their equity share in local brokerage firms from 30 percent to 49 percent.
    Morocco3/1/88LiberalizationNew types of foreign investments allowed in Morocco.
    Note: The following abbreviations are used throughout: GSP (Generalized System of Preferences); EC (European Communities); EEC (European Economic Community); OGL (open general license); MFN (most-favored nation); CETRA (Transferable Certificate of Foreign Exchange); ECSC (European Coal and Steel Community.

    World Economic and Financial Surveys

    April 1986World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
    May 1986Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
    July 1986Staff Studies for the World Economic Outlook, by the Research Department of the International Monetary Fund.
    July 1986Export Credits: Developments and Prospects, by Eduard Brau, K. Burke Dillon, Chanpen Puckahtikom, and Miranda Xafa.
    October 1986World Economic Outlook: Revised Projections, by the Staff of the International Monetary Fund.
    December 1986International Capital Markets: Developments and Prospects, by Maxwell Watson, Russell Kincaid, Caroline Atkinson, Eliot Kalter, and David Folkerts-Landau.
    February 1987Recent Experience with Multilateral Official Debt Rescheduling, by K. Burke Dillon and Gumersindo Oliveros.
    April 1987World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
    May 1987Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
    August 1987Staff Studies for the World Economic Outlook, by the Research Department of the International Monetary Fund.
    October 1987World Economic Outlook: Revised Projections, by the Staff of the International Monetary Fund.
    January 1988International Capital Markets: Developments and Prospects, by Maxwell Watson, Donald Mathieson, Russell Kincaid, David Folkerts-Landau, Klaus Regling, and Caroline Atkinson.
    February 1988Officially Supported Export Credits: Developments and Prospects, by K. Burke Dillon and Luis Duran-Downing, with Miranda Xafa.
    April 1988World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
    May 1988Multilateral Official Debt Rescheduling: Recent Experience, by Peter M. Keller, with Nissanke E. Weerasinghe.
    May 1988Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
    July 1988Staff Studies for the World Economic Outlook, by the Research Department of the International Monetary Fund.
    October 1988World Economic Outlook: Revised Projections, by the Staff of the International Monetary Fund.
    April 1989World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
    April 1989International Capital Markets: Developments and Prospects, by a Staff Team from the Exchange and Trade Relations and Research Departments.
    July 1989Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
    September 1989Developments in International Exchange and Trade Systems, by a Staff Team from the Exchange and Trade Relations Department.
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