Back Matter

Back Matter

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

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

Abu Dhabi

  • Oil facility financing, 127*

  • Supplementary financing facility, lending for, 128*

Afghanistan

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Africa

  • Balance of payments, 18*

  • Debt, 34*

  • Output, 12*, 15

  • Prices, 12*, 16*

  • SDRs, 72

  • Trust Fund disbursements, 103*

Algeria

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Antigua

  • Application for Fund membership, 89

Argentina

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Articles of Agreement

  • Article III, 100

  • Article IV, 57, 62, 82, 107

  • Article V, 104

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

  • Article XIV, 62, 107

  • Article XVII, 92

  • Second Amendment, 62, 82* (fn.)

Asia

  • Balance of payments, 18*

  • Debt, 34*

  • Economic activity and policies, 15

  • Output, 12*, 15

  • Prices, 12*, 15, 16*

  • SDRs, 72

  • Trust Fund disbursements, 103*

Australia

  • Balance of payments, 22, 24

  • Enlarged access policy, lending under, 92

  • Exchange rate, 24, 116*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131 *

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

Austria

  • Enlarged access policy, lending under, 92

  • Exchange rate, 28, 116*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

  • Supplementary financing facility, lending for, 128*

Bahamas

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Bahrain

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Balance of Payments

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

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

  • Domestic economic policies, effect on, 2

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

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

  • Global pattern, 18, 20*, 36, 49

  • See also individual countries

Bangladesh

  • Exchange rate, 116*

  • Extended arrangement with Fund, 86*, 126*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 131 *

  • SDRs, 98*, 99*, 134*, 136*

  • Stand-by arrangement with Fund, 120*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

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

Barbados

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

Barbuda

  • Application for Fund membership, 89

Belgium

  • Balance of payments, 24, 28

  • Economic activity and policies, 28

  • Enlarged access policy, lending under, 92

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

  • Exchange rate, 28, 116*

  • General Arrangements to Borrow, 127*

  • Interest rates, 28

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131*

  • SDRs, 134*, 136*

  • Supplementary financing facility, lending for, 128*

  • Supplementary financing facility subsidy account, contribution to, 106

Benin

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

  • Trust Fund disbursements, 104*

Bhutan

  • Application for Fund membership, 89

Board of Governors

  • Quota adjustments authorized, 89-90

  • Quota increase resolution adopted, 89

  • Vanuatu, membership resolution adopted, 89

  • See also Development Committeeand Interim Committee

Bolivia

  • Exchange rate, 116*

  • Purchases from Fund, 122*

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 136*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

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

Botswana

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Brazil

  • Exchange rate, 116*

  • Oil facility subsidy account, contribution to, 102*

  • Oil price increase, effect of, 55

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Budget of Fund, 219

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

Burma

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 99*, 134*, 136*

  • Trust Fund disbursements, 104*

Burundi

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

  • Trust Fund disbursements, 104*

Cameroon

  • Exchange rate, 116*

  • Oil facility subsidy account, use of, 101

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 136*

  • Trust Fund disbursements, 104*

Canada

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

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

  • Enlarged access policy, lending under, 92

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

  • General Arrangements to Borrow, 127*

  • GNP deflator, 8

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

  • International reserves, 48†

  • Monetary growth, 4, 5†, 45*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Oil production, 23

  • Output, 8*, 9, 10†, 51

  • Prices, 6†, 8, 23, 27†

  • Quota increase, 131 *

  • Ratio of official reserves to exports, 48†

  • SDRs, 98*, 99, 134*, 136*

  • Supplementary financing facility, lending for, 128*

  • Trade, 23

Cape Verde

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Capital Markets

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

  • Recycling, role in, 2, 40, 73

Central African Republic

  • Exchange rate, 116*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 136*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

Chad

  • Exchange rate, 116*

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

  • Quota increase, 131*

  • SDRs, 98*, 134*, 136*

  • Trust Fund disbursements, 104*

Chile

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 99*, 134*, 136*

China, People’s Republic of

  • Exchange rate, 116*

  • Output, 13, 14

  • Prices, 15

  • Purchases from Fund, 83, 122*

  • Quota adjustment, 78, 89

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

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

  • Trust Fund, 103, 104*, 146

Colombia

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Comoros

  • Exchange rate, 116*

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

  • Quota increase, 131 *

  • SDRs, 99*, 134*, 136*

Compensatory Financing Facility

  • Charges, 129*

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

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

  • Compensatory Financing of Fluctuations in Cereal Import Costs

  • Establishment, 81, 84, 169-72

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

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

  • Terms and conditions, 84-85

Conditionality, 3, 78, 79

Congo

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 136*

  • Trust Fund disbursements, 104*

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

Costa Rica

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 99*, 134*, 136*

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

  • Supplementary financing facility, use of, 86*

Cyprus

  • Exchange rate, 116*

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

  • Quota increase, 131*

  • SDRs, 134*, 136*

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

Denmark

  • Balance of payments, 24, 28

  • Economic activity and policies, 28

  • Enlarged access policy, lending under, 92

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

  • Exchange rate, 28, 116*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Developing Countries

  • Balance of payments, 37, 39

  • Economic activity and policies, 39, 54, 60

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

  • Exchange arrangements, 53-54

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

  • Extended arrangements with Fund, 84

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

  • Output, 14, 39, 56

  • Purchases from Fund, 82, 83

  • Trade, 60-61

  • See also individual countries

Non-Oil Developing Countries

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

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

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

  • Capital markets, access to, 75

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

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

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

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

  • Exchange arrangements, 54*

  • Exchange rates, 40, 52, 55, 56

  • Foreign exchange holdings, 65*

  • Gold holdings, 65*

  • International banking, 19*

  • International investments, 33

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

  • Monetary growth, 14

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

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

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

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

  • Purchases from Fund, 79

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

  • Reserve positions in Fund, 65*, 72

  • SDRs, 65*, 70

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

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

  • Wages, 38

Oil Exporting Countries

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

  • Capital flows, 2, 29, 53, 73-74

  • Claims on Fund and World Bank, 29

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

  • Development assistance, 29

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

  • Effect of interest rates in industrial countries on, 53

  • Exchange arrangements, 54*

  • Exchange rates, 40, 53, 56-57, 61

  • Foreign exchange holdings, 65*

  • Gold holdings, 65*

  • International banking, 19*

  • International reserves, 64, 65*, 75

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

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

  • Output, 12, 13, 28, 53

  • Prices, 12, 13, 16*, 56-57

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

  • Recycling, 18

  • Reserve positions in Fund, 65*, 72

  • SDRs, 65*, 70

  • Trade, 11, 13, 16, 17, 28, 29

  • See also Organization of Petroleum Exporting Countries

Development Committee

  • Announcement, 206

  • Communiqués, 204-209

Djibouti

  • Article VIII obligations, acceptance of, 107

  • Exchange rate, 116*

  • Quota increase, 131 *

  • SDRs, 98*, 134*, 136*

Dominica

  • Exchange rate, 116*

  • Extended arrangement with Fund, 86*, 126*

  • Purchases from Fund, 122*

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 136*

  • Supplementary financing facility, use of, 86*

Dominican Republic

  • Exchange rate, 116*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

Ecuador

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

Egypt

  • Exchange rate, 116*

  • Extended arrangement with Fund, 126*

  • Oil facility subsidy account, use of, 101

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

  • Trust Fund disbursements, 104*

El Salvador

  • Exchange rate, 116*

  • Purchases from Fund, 122*

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 136*

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

  • Trust Fund disbursements, 104*

Enlarged Access Policy, 85-88

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

  • Charges, 93, 129*

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

  • Extended arrangement, form of, 158-61

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

  • Interest rate payable by Fund, 91

  • Maximum access, 2, 78, 80, 87

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

  • Purchases by members, 86

  • Repayments by Fund, 91

  • Repurchases by members, 87

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

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

  • Terms and conditions, 86-88

  • Transferability of claims, 91

  • See also individual countries

Equatorial Guinea

  • Exchange rate, 116*

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

  • Quota increase, 131*

  • SDRs, 99*, 134*, 136*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

Ethiopia

  • Exchange rate, 116*

  • Quota increase, 131*

  • SDRs, 134*, 136*

  • Trust Fund disbursements, 104*

Euromarkets

  • Eurocurrency deposits, 72, 73*

  • Group of Ten agreement of 1971, 72

  • Recycling, role in, 64, 72

  • SDR deposit market, 72

Europe

  • Balance of payments, 18*, 24

  • Debt, 34*

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

  • Exchange rates, 6, 20, 24, 26, 28

  • Interest rates, 19, 26, 28

  • Output, 8*, 9, 12*, 15

  • Prices, 8*, 12*, 15, 16*, 20

  • SDRs, 72

  • Trade, 21

  • Trust Fund disbursements, 103*

  • Wages, 20

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

European Monetary System (EMS)

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

  • Establishment, 45, 47, 66

  • ECU holdings, 68

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

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

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

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

  • Interest rates, 45

  • Intervention policy, 45

  • Participants, 119* (fn.)

  • Policy coordination within, 45

Exchange Markets

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

  • Forward markets, 49, 54, 72

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

Exchange Rates

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

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

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

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

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

  • Inflationary expectations, effect on, 42

  • Investment, effect on, 56, 57

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

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

  • Multiple currency practices, Fund policy, 161-62

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

  • Prices, effect on, 1, 50, 54, 57

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

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

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

  • Valuation of SDR, 95, 144

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

  • Wages, effect on, 1

  • See also individual countries

Executive Board

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

  • Article IV consultations, role in, 62, 107

  • Bank for International Settlements borrowing agreement, 86

  • Borrowed resources suspense accounts, decision to adopt, 92

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

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

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

  • Extended Fund facility, review of, 84

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

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

  • Membership changes, 213-18

  • Oil facility subsidy account, decision establishing, 101

  • “Other holders” of SDRs prescribed, 97

  • Quota adjustments, review of, 89

  • Quota increase request by Iran, consideration of, 89

  • Reconstitution, abrogation of, 96

  • Repurchase, guidelines for, 88

  • Rescheduling of repurchases, agreements to, 88

  • Reserve tranche treatment, decision on, 83

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

  • Saudi Arabian Monetary Agency borrowing agreement, 86

  • SDR valuation, decision to simplify structure of, 95

  • Supplementary financing facility subsidy account, establishment of, 105

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

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

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

  • World economic outlook, review of, 82, 107

Executive Board Decisions

  • Borrowed resources suspense accounts, 168-69

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

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

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

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

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

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

  • Policy on multiple currency practices, 161-62

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

  • Selection of currencies by Fund, 152-53

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

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

  • Treatment of reserve tranche, 162-63

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

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

  • Charges, 129*

  • Enlarged access policy under, 86-87

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

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

  • Repurchases by members, 83†

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

  • See also individual countries

Fiji

  • Exchange rate, 116*

  • Quota increase, 131 *

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

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

Financial Statements of Fund, 221-45

Finland

  • Balance of payments, 24

  • Enlarged access policy, lending under, 92

  • Exchange rate, 116*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131*

  • SDRs, 134*, 136*

Foreign Exchange Markets

  • See Exchange Markets

Foreign Exchange Reserves

  • See International Reserves

Foreign Investment

  • See International Investment

Foreign Trade

  • See International Trade

France

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

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

  • Employment, 12

  • Enlarged access policy, lending under, 92

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

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

  • General Arrangements to Borrow, 127*

  • GNP deflator, 8

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

  • International reserves, 47, 48†

  • Investments, 71†

  • Monetary growth, 4, 5†, 45*

  • Oil facility subsidy account, contribution to, 102*

  • Oil prices, 23

  • Output, 8*, 9, 10†, 51

  • Prices, 6†, 8, 27†

  • Quota increase, 131*

  • Rate of return on French franc, 70

  • Ratio of official reserves to exports, 48†

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

  • SDRs, 99, 134*, 136*

  • Trade, 23

Gabon

  • Exchange rate, 116*

  • Extended arrangement with Fund, 126*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 136*

Gambia, The

  • Exchange rate, 116*

  • Quota increase, 131 *

  • SDRs, 134*, 136*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

General Arrangements to Borrow (GAB)

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

  • Credit arrangements, 127*

  • Participants, 127*

  • Purchases by Fund members financed under, 83

  • Renewal, 90

  • Repayment in Fund, 101

General Resources Account Trans-actions

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

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

  • Currencies, use of, 88, 151-53

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

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

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

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

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

  • Rescheduling of repurchases, 88

  • Reserve tranche treatment, 83

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

  • Subscription payments by members in SDRs, 135*

Germany, Federal Republic of

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

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

  • Employment, 12

  • Enlarged access policy, lending under, 92

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

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

  • General Arrangements to Borrow, 127*

  • GNP deflator, 8, 9†

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

  • International reserves, 47, 48†

  • Investments, 71†

  • Monetary growth, 4, 5†, 45*

  • Oil facility financing, 90-91, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Oil prices, 23

  • Output, 8*, 9, 10†, 51

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

  • Quota increase, 131*

  • Rate of return on deutsche mark, 70

  • Ratio of official reserves to exports, 481

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

  • SDRs, 70, 72, 98*, 99, 134*, 136*

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

  • Trade, 23

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

Ghana

  • Exchange rate, 116*

  • Quota increase, 131 *

  • Repurchases from Fund, 124*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Gold

  • ECUs issued against, 64-66

  • Fund holdings, 88

  • Holdings, 64-66, 65*, 68

  • Price, 64-66, 68, 103

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

Greece

  • Exchange rate, 116*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 131 *

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 137*

Grenada

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 131*

  • SDRs, 98*, 134*, 137*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

Group of Ten, 72

Guatemala

  • Exchange rate, 117*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 137*

  • Supplementary financing facility, lending for, 128*

Guinea

  • Exchange rate, 117*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Guinea-Bissau

  • Exchange rate, 117*

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 137*

Guyana

  • Exchange rate, 117*

  • Extended arrangement with Fund, 86*, 126*

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

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 137*

  • Supplementary financing facility, use of, 86*

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

Haiti

  • Exchange rate, 117*

  • Extended arrangement with Fund, 126*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 131*

  • SDRs, 99*, 134*, 137*

  • Trust Fund disbursements, 104*

Honduras

  • Exchange rate, 117*

  • Extended arrangement with Fund, 126*

  • Quota increase, 131 *

  • SDRs, 99*, 134*, 137*

  • Trust Fund disbursements, 104*

Iceland

  • Exchange rate, 117*

  • Quota increase, 131*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 137*

Income and Expenses of Fund, 106, 220

India

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

  • Output, 14, 55 (fn.)

  • Prices, 15

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

  • Quota increase, 131 *

  • SDRs, 99*, 134*, 137*

  • Trust Fund disbursements, 103, 104*

Indonesia

  • Exchange rate, 117*

  • Quota increase, 131*

  • SDRs, 99*, 134*, 137*

Industrial Countries

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

  • Borrowing, 18 Capital flows, 1, 51

  • Capital markets, access to, 75

  • Debt, 47, 49

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

  • Employment, 11, 36, 37

  • Energy prices, 11, 36, 37, 38

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

  • Enlarged access policy, lending under, 92

  • Exchange arrangements, 54*

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

  • Foreign exchange reserves, 65*, 66

  • Gold holdings, 65*, 66

  • GNP deflators, 7, 8, 9†, 21

  • Incomes policies, use of, 37

  • Indexation, 36, 38

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

  • International banking, 19*

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

  • Investments, 11, 36

  • Manufacturing, labor costs in, 7

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

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

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

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

  • Private banks, 18, 36

  • Protectionism, 36, 38, 39, 56

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

  • Reserve positions in Fund, 65*, 66

  • SDRs, 65*, 66, 70, 72

  • Stagflation, 36-37, 39

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

  • Wages, 7, 8, 36, 38

  • See also individual countries

Interim Committee

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

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

  • Eighth General Review, endorsement of, 90

  • Inflation, views on, 3

  • Simplification of SDR valuation, endorsement of, 95

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

International Banks

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

International Investment

  • Direct investment, 18, 33, 52, 56

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

  • Energy production, 6, 11

  • Industrial countries, investment of, 71†

  • Non-oil developing countries, investments of, 33

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

  • Protectionism, 15

International Organizations

  • Fund relations with, 108-109

International Reserves

  • Adequacy of, 64, 74-75, 77

  • Borrowed from capital markets, 74, 77

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

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

  • Distribution of, 33, 75

  • ECU holdings, 40, 64, 68, 72, 73*

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

  • Global stock, 18, 64, 75, 77

  • Gold holdings, 64-66, 68

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

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

  • Recycling, Fund’s role in, 81

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

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

  • See also individual countries

International Trade

  • Cereals, 81, 84-85

  • Developing countries, trade among, 56

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

  • Import substitution, 55

  • Manufactured goods, 17*, 23

  • Oil, 17*, 23, 28, 29, 30, 38

  • Prices, 17*

  • Primary commodities, 17*, 30

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

  • Summary of, 1962-80, 17*

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

  • Value of, 17*

  • Volume of, 17*

  • See also individual countries

Iran

  • Economic activity and policies, 13, 29

  • Exchange rate, 117*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Output, 12

  • Prices, 13

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

  • SDRs, 134*, 137*

  • Trade, 29

Iraq

  • Balance of payments, 29

  • Economic activity and policies, 13

  • Exchange rate, 117*

  • Output, 12

  • Quota increase, 89, 131*

  • SDRs, 134*, 137*

  • Trust Fund, contribution to, 103

Ireland

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

  • Exchange rate, 117*

  • Quota increase, 131*

  • SDRs, 134*, 137*

Israel

  • Exchange rate, 117*

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

  • Quota increase, 131*

  • SDRs, 98*, 100, 134*, 137*

Italy

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

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

  • Enlarged access policy, lending under, 92

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

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

  • General Arrangements to Borrow, 127*

  • GNP deflator, 8

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

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

  • Oil facility subsidy account, contribution to, 102*

  • Oil prices, 23

  • Output, 8*, 9, 10†, 51

  • Prices, 6†, 8, 27†, 28, 41, 49

  • Quota increase, 131*

  • Ratio of official reserves to exports, 48†

  • SDRs, 97, 99*, 134*, 137*

  • Trade, 23

  • Wages, 49

Ivory Coast

  • Exchange rate, 117*

  • Extended arrangement with Fund, 86*, 126*

  • Oil facility subsidy account, use of, 101

  • Purchases from Fund, 122*

  • Quota increase, 131*

  • SDRs, 97, 99*, 134*, 137*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Jamaica

  • Exchange rate, 117*

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

  • Purchases and repurchases from Fund, 122*

  • Quota increase, 131*

  • SDRs, 98*, 99*, 134*, 137*

  • Supplementary financing facility, use of, 86*

Japan

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

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

  • Enlarged access policy, lending under, 92

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

  • General Arrangements to Borrow, 127*

  • GNP deflator, 8, 9†

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

  • International reserves, 47, 48†

  • Investments, 71†

  • Manufacturing, labor costs in, 23

  • Monetary growth, 4, 5†, 45*

  • Oil facility subsidy account, contribution to, 102*

  • Oil prices, 23

  • Output, 8*, 9†, 10†, 11, 28, 51

  • Prices, 6†, 8, 9, 27†, 49

  • Quota increase, 131 *

  • Rate of return on yen, 70

  • Ratio of official reserves to exports, 48†

  • Role of yen as reserve currency, 66, 69

  • SDRs, 70, 72, 134*, 137*

  • Supplementary financing facility, lending for, 128*

  • Trade, 11, 23

Jordan

  • Exchange rate, 117*

  • Quota increase, 131*

  • SDRs, 134*, 137*

Kampuchea, Democratic

  • Exchange rate, 117*

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

  • Quota increase, 89, 131*

  • Reconstitution obligation, 97

  • SDRs, 97 (fn.), 134*, 137*

  • Trust Fund, 104 (fn.)

Kenya

  • Exchange rate, 117*

  • Extended arrangement with Fund, 126*

  • Oil facility subsidy account, use of, 101

  • Purchases and repurchases from Fund, 122*

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

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

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

  • Trust Fund disbursements, 104*

Korea

  • Exchange rate, 117*

  • Oil price increase, effect of, 55

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

  • Quota increase, 89, 132*

  • SDRs, 99*, 134*, 137*

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

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

Kuwait

  • Allocation of SDRs to, 98

  • Balance of payments, 29

  • Exchange rate, 117*

  • Oil facility financing, 127*

  • Quota increase, 89, 132*

  • SDRs, 98, 99*, 134*, 137*, 146

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

  • Supplementary financing facility, lending for, 128*

  • Trust Fund, contribution to, 103

Lao People’s Democratic Republic

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 137*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

Latin America and Caribbean

  • Balance of payments, 18*

  • Debt, 34*

  • Output, 12*, 15

  • Prices, 12*, 15, 16*, 72

  • Trade, 15

  • Trust Fund disbursements, 103*

Lebanon

  • Exchange rate, 117*

  • Quota increase, 89, 132*

  • SDRs, 134*, 137*

Lesotho

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Liberia

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 137*

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Libyan Arab Jamahiriya

  • Balance of payments, 29

  • Exchange rate, 117*

  • Quota increase, 89, 132*

  • SDRs, 99*, 134*, 137*

  • Trust Fund, contribution to, 103

Luxembourg

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

  • Exchange rate, 117*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • SDRs, 134*, 137*

Madagascar

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 137*

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Malawi

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 134*, 137*

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

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

  • Trust Fund disbursements, 104*

Malaysia

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

Maldives

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 134*, 137*

Mali

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Malta

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

Mauritania

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 134*, 137*

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Mauritius

  • Exchange rate, 117*

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

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

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Mexico

  • Exchange rate, 117*

  • Extended arrangement with Fund, 126*

  • Purchases and repurchases from Fund, 100, 124*

  • Quota increase, 132*

  • SDRs, 99*, 100, 134*, 137*

Middle East

  • Balance of payments, 18*

  • Debt, 34*

  • Output, 12*, 15

  • Prices, 12*, 16*

  • SDRs, 72

  • Trade, 15

  • Trust Fund disbursements, 103*

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

Morocco

  • Exchange rate, 117*

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

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Nepal

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

  • Trust Fund disbursements, 104*

Netherlands

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

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

  • Exchange rate, 117*

  • General Arrangements to Borrow, 127*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • Role of guilder as reserve currency, 66, 69

  • SDRs, 99*, 134*, 137*

  • Supplementary financing facility, lending for, 128*

  • Supplementary financing facility subsidy account, contribution to, 106

New Zealand

  • Exchange rate, 117*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 137*

Nicaragua

  • Exchange rate, 117*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 134*, 137*

  • Stand-by arrangement with Fund, 120*

Niger

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Nigeria

  • Exchange rate, 117*

  • Oil facility financing, 127*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

  • Supplementary financing facility, lending for, 128*

Norway

  • Balance of payments, 22, 23, 24

  • Enlarged access policy, lending under, 92

  • Exchange rate, 24, 117*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Oil production, 23

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

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

Oil Facility in Fund

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

  • Charges, 93, 129*

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

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

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

  • Subsidy account, 101-102

  • Transfer of claims, 90-91

  • See also Subsidy Account for Oil Facilityand individual countries

Oman

  • Exchange rate, 117*

  • Oil facility financing, 127*

  • Quota increase, 89, 98, 132*

  • SDRs, 99*, 134*, 137*

Organization of Petroleum Exporting Countries (OPEC)

  • Fund for International Development, 29

  • Trust Fund contributions by members of, 103

Pakistan

  • Exchange rate, 117*

  • Extended arrangement with Fund, 86*, 126*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 137*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Panama

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 98*, 134*, 137*

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

  • Supplementary financing facility, use of, 86*

Papua New Guinea

  • Exchange rate, 117*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 134*, 137*

  • Trust Fund disbursements, 104*

Paraguay

  • Exchange rate, 117*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

Peru

  • Exchange rate, 117*

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

  • Quota increase, 132*

  • SDRs, 98*, 100, 134*, 138*

  • Stand-by arrangement with Fund, 120*

Philippines

  • Exchange rate, 117*

  • Extended arrangement with Fund, 126*

  • Oil facility subsidy account, use of, 101

  • Purchases and repurchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 99*, 100, 134*, 138*

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Portugal

  • Exchange rate, 117*

  • Oil price increase, effect of, 55

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 138*

Publications of Fund, 141*

Qatar

  • Balance of payments, 29

  • Exchange rate, 117*

  • Quota increase, 89, 132*

  • SDRs, 134*, 138*

  • Trust Fund, contribution to, 103

Quotas of Fund Members

  • Adjustment of, 79-80, 88, 89

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

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

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

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

  • Subscription payments, 78, 79, 100

  • See also individual countries

Romania

  • Exchange rate, 118*

  • Purchases and repurchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 138*

  • Trust Fund, contribution to, 103

Rwanda

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 138*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

St. Lucia

  • Article VIII obligations, acceptance of, 107

  • Exchange rate, 118*

  • Purchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 134*, 138*

St. Vincent and the Grenadines

  • Exchange rate, 118*

  • Purchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 134*, 138*

  • Status in Fund, 107

Sao Tome and Principe

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 134*, 138*

Saudi Arabia

  • Balance of payments, 29

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

  • Exchange rate, 118*

  • Oil facility claims, 90-91

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Output, 12, 13

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

  • Quota increase, 89, 132*

  • Reserve position, 89

  • SDRs, 99*, 134*, 138*

  • Supplementary financing facility claims, 91

  • Supplementary financing facility, lending for, 128*

  • Trade, 29

  • Trust Fund, contribution to, 103

Senegal

  • Exchange rate, 118*

  • Extended arrangement with Fund, 86*, 126*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Seychelles

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 134*, 138*

Sierra Leone

  • Exchange rate, 118*

  • Extended arrangement with Fund, 86*, 126*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

  • Stand-by arrangement with Fund, 120*

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Singapore

  • Exchange rate, 118*

  • Quota increase, 89, 132*

  • SDRs, 99*, 134*, 138*

Solomon Islands

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 98*, 134*, 138*

Somalia

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 134*, 138*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

South Africa

  • Exchange rate, 118*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 99*, 134*, 138*

Spain

  • Balance of payments, 24

  • Exchange rate, 118*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 99*, 134*, 138*

Special Drawing Rights (SDRs)

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

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

  • Currencies transferred for, 99, 100, 140*

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

  • Deposit market, 72

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

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

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

  • Operational budgets, inclusion in, 100

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

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

  • Purchases by “other holders,” 99

  • Quota increase payments in, 70, 107

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

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

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

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

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

  • Subscription payments in, 89, 100, 135*

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

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

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

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

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

  • See also individual countries

Special Drawing Rights Department

  • Participants, 89, 136*-139*, 146

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

  • See also Special Drawing Rights

Sri Lanka

  • Exchange rate, 118*

  • Extended arrangement with Fund, 126*

  • Oil facility subsidy account, use of, 101

  • Purchases and repurchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 138*

  • Trust Fund disbursements, 104*

Staff of the Fund, 109

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

Subscriptions of Fund Members

  • See Quotas of Fund Members

Subsidy Account for Oil Facility, 80*,

  • 101; beneficiaries, 101-102; charges,

  • 101; contributors, 102; establishment,

  • 101; purchases, 79, 101-102;

  • see also individual countries

Subsidy Account for Supplementary Financing Facility, 101

  • Assets placed with Bank for International Settlements, 106

  • Borrowing by Fund, 81, 105-106

  • Contributors, 105-106

  • Establishment, 81, 105, 147-51

  • Investments, 106

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

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

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

  • See also individual countries

Sudan

  • Exchange rate, 118*

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

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

  • Supplementary financing facility, use ‘ of, 86*

  • Trust Fund disbursements, 104*

Supplementary Financing Facility, 85

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

  • Charges, 93, 129*

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

  • Establishment, 85

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

  • Extension, 151

  • Interest rate payable by Fund, 91

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

  • Repayment by Fund, 101

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

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

  • Transferability of claims, 91

  • See also Subsidy Account for Supplementary Financing Facilityand individual countries

Suriname

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

Surveillance over Exchange Rate Policies

  • Adjustment of exchange rates, 59-61

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

  • Fund’s approach to, 58, 60-61

  • Fund’s role in, 39, 40, 57-58, 62

  • Review by Executive Board, 107

  • Supplemental surveillance procedures, 82, 107

  • World economic outlook exercise, role of, 62

Swaziland

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 134*, 138*

  • Trust Fund disbursements, 104*

Sweden

  • Balance of payments, 24

  • Enlarged access policy, lending under, 92

  • Exchange rate, 24, 118*

  • General Arrangements to Borrow, 127*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Quota increase, 132*

  • SDRs, 97, 134*, 138*

Switzerland

  • Balance of payments, 24

  • Borrowing by Fund, 82*, 90

  • Enlarged access policy, lending under, 92

  • Exchange rate, 28, 41, 48†

  • General Arrangements to Borrow, association with, 90

  • International reserves, 48†

  • Oil facility financing, 90, 127*

  • Oil facility subsidy account, contribution to, 102

  • Ratio of official reserves to exports, 481

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

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

Syrian Arab Republic

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 134*, 138*

Tanzania

  • Exchange rate, 118*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 138*

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

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

  • Trust Fund disbursements, 104*

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

Thailand

  • Exchange rate, 118*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 138*

  • Trust Fund disbursements, 104*

Togo

  • Exchange rate, 118*

  • Purchases from Fund, 122*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

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

  • Supplementary financing facility, use of, 86*

  • Trust Fund disbursements, 104*

Trinidad and Tobago

  • Exchange rate, 118*

  • Oil facility financing, 127*

  • Quota increase, 132*

  • SDRs, 99*, 134*, 138*

Trust Fund, 101

  • Bank for International Settlements, assets placed with, 104

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

  • Establishment, 81, 102

  • Gold auctions, 102-103

  • Investments, 102-104

  • Members eligible for assistance, 102-103, 146

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

  • Second period, extension of, 103, 146

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

  • Termination, 81, 104, 146-47

  • Terms and conditions of loans, 103—104

  • See also individual countries

Tunisia

  • Exchange rate, 118*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 134*, 138*

Turkey

  • Exchange rate, 118*

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

  • Quota increase, 132*

  • SDRs, 98*, 99*, 100, 134*, 138*

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

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

Uganda

  • Exchange rate, 118*

  • Quota increase, 132*

  • Repurchases from Fund, 124*

  • SDRs, 98*, 99*, 134*, 138*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

United Arab Emirates

  • Balance of payments, 29

  • Exchange rate, 118*

  • Quota increase, 132*

  • SDRs, 98*, 99*, 134*, 138*

  • Trust Fund, contribution to, 103

United Kingdom

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

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

  • Employment, 12

  • Enlarged access policy, lending for, 92

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

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

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

  • International reserves, 47, 48†

  • Investments, 11, 711

  • Monetary growth, 4, 5†, 26, 45*

  • Oil facility subsidy account, contribution to, 102*

  • Oil production, 23

  • Output, 8*, 9, 10†, 11, 51

  • Prices, 6, 8, 23, 26, 27†

  • Purchases and repurchases from Fund, 100, 124*

  • Quota increase, 132*

  • Rate of return on pound sterling, 70

  • Ratio of official reserves to exports, 481

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

  • SDRs, 99, 100, 134*, 138*

  • Trade, 23

  • Wages, 49

United States

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

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

  • Employment, 12

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

  • General Arrangements to Borrow, 90, 127*

  • GNP deflator, 8, 9

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

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

  • Investments, 11, 23, 71†

  • Manufacturing, labor costs in, 7

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

  • Official claims on, 73*

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

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

  • Purchases from Fund, 90

  • Quota increase, 132*

  • Rate of return on dollar, 70

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

  • Role of dollar as reserve currency, 66, 68

  • SDRs, 72, 99, 134*, 138*

  • Supplementary financing facility, lending for, 128*

  • Trade, 23

  • Wages, 7

Upper Volta

  • Exchange rate, 118*

  • Quota increase, 133*

  • SDRs, 134*, 138*

  • Trust Fund disbursements, 104*

Uruguay

  • Article VIII obligations, acceptance of, 107

  • Exchange rate, 118*

  • Oil price increase, effect of, 55

  • Quota increase, 133*

  • SDRs, 99*, 134*, 138*

  • Stand-by arrangement with Fund, 120*

Vanuatu

  • Membership in Fund, 89

  • Quota, 89

Venezuela

  • Economic activity and policies, 13

  • Exchange rate, 118*

  • Oil facility financing, 127*

  • Oil facility subsidy account, contribution to, 102*

  • Prices, 13

  • Quota increase, 133*

  • SDRs, 99*, 134*, 138*

  • Supplementary financing facility, lending for, 128*

  • Trust Fund, contribution to, 103

Viet Nam

  • Exchange rate, 118*

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

  • Quota increase, 133*

  • SDRs, 99*, 134*, 138*

  • Trust Fund disbursements, 104*

Western Samoa

  • Exchange rate, 118*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 133*

  • SDRs, 98*, 99*, 134*, 138*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

World Bank

  • Cooperation with Fund, 78

  • “Other holder” of SDRs, 77, 97

World Trade

  • See International Trade

Yemen Arab Republic

  • Exchange rate, 118*

  • Quota increase, 133*

  • SDRs, 134*, 138*

Yemen, People’s Democratic Republic of

  • Exchange rate, 118*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 133*

  • SDRs, 134*, 138*

  • Trust Fund disbursements, 104*

Yugoslavia

  • Exchange rate, 118*

  • Oil facility subsidy account, contribution to, 102*

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

  • Quota increase, 133*

  • SDRs, 99*, 134*, 138*

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

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

  • Trust Fund, contribution to, 103

Zaire

  • Exchange rate, 118*

  • Oil facility subsidy account, use of, 101

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

  • Quota increase, 133*

  • SDRs, 98*, 99*, 134*, 139*

  • Stand-by arrangement with Fund, 120*

  • Trust Fund disbursements, 104*

Zambia

  • Exchange rate, 118*

  • Oil facility subsidy account, use of, 101

  • Quota increase, 133*

  • Repurchases from Fund, 125*

  • SDRs, 98*, 99*, 134*, 139*

  • Trust Fund disbursements, 104*

Zimbabwe

  • Allocation of SDRs to, 98

  • Exchange rate, 118*

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

  • Purchases from Fund, 123*

  • Quota, 89, 98, 133*

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

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

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

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