Chapter

Appendix I Fund Activities in 1984/85

Author(s):
International Monetary Fund
Published Date:
September 1985
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This appendix supplements the information on the Fund given in Chapter 3. Table 1.1 provides data on exchange rates and exchange arrangements as of June 28, 1985.

Table I.1.Exchange Rates and Exchange Arrangements, June 28, 19851
Pegged toLimited FlexibilityMore Flexibility 3
CurrencyUnderAdjusted
OthercompositeVis-à-viscooperativeaccordingOther
Frenchsingleothersinglearrange-to a set ofmanagedFloating
MemberCurrencyU.S. dollar2franc 2currency 2SDR 2than SDR 3currency 3,4ments 3,5indicatorsfloatingindependently
AfghanistanAfghani50.60
Algeriadinar5.0855
Antigua andEastern Caribbean
Barbudadollar2.70
Argentinaaustral0.8005
Australiadollar1.50263
Austriaschilling21.467
Bahamasdollar1.00
Bahraindinar0.376
Bangladeshtaka27.50
Barbadosdollar2.0113
Belgiumfranc61.5475
Belizedollar2.00
Beninfranc50.00
Bhutanngultrum1.00 6
Boliviapeso67,000.00
Botswanapula1.77066
Brazilcruzeiro5,960.00
Burkina Fasofranc50.00
Burmakyat8.5085
Burundifranc122.7
Cameroonfranc50.00
Canadadollar1.3587
Cape Verdeescudo93.4579
Central African
Republicfranc50.00
Chadfranc50.00
Chilepeso168.99
Chinarenminbi2.8779
Colombiapeso142.90
Comorosfranc50.00
Congofranc50.00
Costa Ricacolón50.35
Cypruspound0.623636
Denmarkkrone10.9525
Djiboutifranc177.721
DominicaEastern Caribbean
dollar2.70
Dominican Republicpeso3.21
Ecuadorsucre67.715
Egyptpound0.70
El Salvadorcolón4.46
Equatorial Guineafranc50.00
Ethiopiabirr2.07
Fijidollar1.17467
Finlandmarkka6.347
Francefranc9.317
Gabonfranc50.00
Gambia, Thedalasi5.00 7
Germany, Federal
Republic ofdeutsche mark3.0607
Ghanacedi53.00
Greecedrachma135.765
GrenadaEastern Caribbean
dollar2.70
Guatemalaquetzal1.00
Guineasyli24.6853
Guinea-Bissaupeso163.641
Guyanadollar4.30
Haitigourde5.00
Honduraslempira2.00
Hungaryforint50.8583
Icelandkróna41.85
Indiarupee12.431472
Indonesiarupiah1,118.00
Iran, Islamic
Republic ofrial92.30
Iraqdinar0.310857
Irelandpound0.976563
Israelshekel1,262.4
Italylira1,949.95
Ivory Coastfranc50.00
Jamaicadollar5.62
Japanyen248.95
Jordandinar0.387747
Kampuchea,
Democratic 8riel
Kenyashilling16.148906
Koreawon873.80
Kuwaitdinar0.3029
Lao People’s
Democratic
Republickip10.00
Lebanonpound15.65
Lesotholoti1.00 9
Liberiadollar1.00
Libyan Arab
Jamahiriyadinar0.296053
Luxembourgfranc61.5475
Madagascarfranc677.01
Malawikwacha1.7693
Malaysiaringgit2.4907
Maldivesrufiyaa7.05
Malifranc50.00
Maltalira0.476644
Mauritaniaouguiya80.25
Mauritiusrupee15.7667
Mexicopeso227.59
Moroccodirham10.439
Mozambiquemetical43.6635
Nepalrupee18.10
Netherlandsguilder3.4465
New Zealanddollar2.113271
Nicaraguacórdoba10.00
Nigerfranc50.00
Nigerianaira0.895095
Norwaykrone8.799
Omanrial Omani0.345395
Pakistanrupee16.0078
Panamabalboa1.00
Papua New Guineakina1.0248
Paraguayguaraní240.00
Perusol11,203.94
Philippinespeso18.462
Portugalescudo174.543
Qatarriyal3.64
Romanialeu12.47
Rwandafranc102.71
St. ChristopherEastern Caribbean
and Nevisdollar2.70
St. LuciaEastern Caribbean
dollar2.70
St. VincentEastern Caribbean
dollar2.70
Sâo Tomé and
Principedobra45.25
Saudi Arabiariyal3.645
Senegalfranc50.00
Seychellesrupee7.2345
Sierra Leoneleone6.27042
Singaporedollar2.2335
Solomon Islandsdollar1.50128
Somaliashilling40.6081
South Africarand1.96078
Spainpeseta174.697
Sri Lankarupee27.42
Sudanpound2.50
Surinameguilder1.785
Swazilandlilangeni1.00 9
Swedenkrona8.8035
Syrian Arab
Republicpound3.925
Tanzaniashilling17.5513
Thailandbaht27.42
Togofranc50.00
Trinidad and Tobagodollar2.406
Tunisiadinar0.851387
Turkeylira536.72
Ugandashilling600.00
United Arab
Emiratesdirham3.671
United Kingdompound0.772141
United Statesdollar1.00
Uruguaynew peso96.125
Vanuatuvatu110.14
Venezuelabolivar7.50
Viet Namdong10.37883
Western Samoatala2.28363
Yemen Arab
Republicrial6.485
Yemen, People’s
Democratic
Republic ofdinar0.345399
Yugoslaviadinar287.87
Zaïrezaïre50.7222
Zambiakwacha2.33951
Zimbabwedollar1.56495

For further explanation of the classification of exchange rate arrangements, in particular for members that maintain dual exchange markets involving multiple exchange rate arrangements, see Table 12. The exchange rate for the Domainican Republic is for the end of April.

Rates as notified to the Fund and in terms of domestic currency units per unit listed.

Market rates in domestic currency units per U.S. dollar.

All exchange rates have shown limited flexibility against the U.S. dollar.

Belgium, Denmark, France, the Federal Republic of Germany, Ireland, Italy, Luxembourg, and the Netherlands are participating in the European Monetary System and maintain maximum margins of 2.25 percent (for the Italian lira, 6 percent) for exchange rates in transactions in the official markets between their currencies and those of the other countries in this group.

Per Indian rupee.

Per pound sterling.

Information not available.

Per South African rand.

For further explanation of the classification of exchange rate arrangements, in particular for members that maintain dual exchange markets involving multiple exchange rate arrangements, see Table 12. The exchange rate for the Domainican Republic is for the end of April.

Rates as notified to the Fund and in terms of domestic currency units per unit listed.

Market rates in domestic currency units per U.S. dollar.

All exchange rates have shown limited flexibility against the U.S. dollar.

Belgium, Denmark, France, the Federal Republic of Germany, Ireland, Italy, Luxembourg, and the Netherlands are participating in the European Monetary System and maintain maximum margins of 2.25 percent (for the Italian lira, 6 percent) for exchange rates in transactions in the official markets between their currencies and those of the other countries in this group.

Per Indian rupee.

Per pound sterling.

Information not available.

Per South African rand.

Table I.2.Fund Stand-By Arrangements for Members, Financial Year Ended April 30, 1985(In millions of SDRs)
Total
NumberAmount ApprovedAmount ApprovedAmount Not
of Stand-BysCurrent Arrangementin 1983/84in 1984/85Amount NotPurchased
ApprovedOf which:Of which:Purchasedas of
for MemberDate ofDate ofborrowedborrowedat ExpirationApril 30,
MemberSince 1953inceptionexpirationTotalresourcesTotalresourcesor Cancellation1985
Argentina11Dec.28,1984Mar.2719861,419.00709.501,182.50
Belize1Dec.3,1984Mar.31,19867.134.75
Central African
Republic4July6,1984July5,198515.007.00
Costa Rica9Mar.13,1985Apr.12,198654.0027.0030.00
Dominica1July18,1984July17,19851.400.43
Dominican
Republic3Apr.15,1985Apr.14,198678.5050.48
Ecuador11July25,1983July24,1984157.5075.77
Mar.11,1985Mar.10,1986105.5052.7584.40
Gambia, The4Apr.23,1984July22,1985112.836.4210.20
Ghana7Aug.3,1983Aug.2,1984238.50121.80
Aug.27,1984Dec.31,1985180.0096.53120.00
Guatemala10Aug.31,1983Dec.31,1984114.7566.9257.37
Haiti20Nov.7,1983Sep.30,198560.0045.2339.00
Hungary2Jan.13,1984Jan.12,1985425.00212.50
Ivory Coast1Aug.3,1984May2,198582.7520.69
Jamaica4June22,1984June21,198564.0036.00
Kenya6Feb.8,1985Feb.7,198685.2042.6055.40
Korea15July8,1983Mar.31,1985575.77575.77—.
Liberia18Sep.14,1983Sep.13,198455.0055.00
Dec.7,1984June6,198642.7821.3934.28
Madagascar6Apr.10,1984Mar.31,198533.0016.50
Apr.23,1985Apr.22,198629.5014.7526.00
Mali7Dec.9,1983May31,198540.5034.62
Mauritania4Apr.12,1985Apr.11,198612.009.60
Mauritius6May18,1983Aug.17,198449.5046.87
Mar.1,1985Aug.31,198649.0024.5035.00
Morocco9Sep.16,1983Mar.15,1985300.00246.33
Niger2Oct.5,1983Dec.4,198418.00
Dec.5,1984Dec.4,198516.008.009.60
Panama16June24,1983Dec.31,1984150.00120.27
Peru17Apr.26,1984July31,19852250.00220.00
Philippines17Dec.14,1984June13,1986615.00307.50530.00
Portugal3Oct.7,1983Feb.28,1985445.00222.20185.70
Senegal5Sep.19,1983Sep.18,198463.0038.32
Jan.16,1985July15,198676.6050.4254.00
Sierra Leone6Feb.3,1984Feb.2,198550.2024.0631.20
Solomon
Islands2June22,1983June21,19842.401.44
Somalia11Feb.22,1985Feb.21,198622.1011.0520.10
Sri Lanka8Sep.14,1983July31,1984100.0057.0050.00
Sudan9June25,1984June24,198590.0045.0070.00
Togo4May7,1984May6,198519.00
Turkey15June24,1983June23,19843225.0039.44168.75
Apr.4,1984Apr.3,1985225.0056.25
Uganda5Sep.16,1983Sep.15,198495.0095.0030.00
Uruguay13Apr.22,1983Apr.21,19854(378.00)(283.50)226.80
Western Sa-
moa6June27,1983June26,19843.38
July9,1984July8,19853.371.690.84
Yugoslavia9Apr.18,1984May15,19855370.00185.0090.00
Zaïre6Dec.27,1983Mar.26,1985228.00135.1730.00
Apr.24,1985Apr.23,1986162.00122.00
Zambia5July26,1984Apr.30,1986225.00112.50145.00
Zimbabwe2Mar.23,1983Sep.22,19844(300.00)(187.50)125.00
Total4,287.332,420.193,454.831,525.181,192.712,777.07

Arrangement canceled on April 22, 1985.

Arrangement canceled on April 24, 1985.

Arrangement canceled on April 3, 1984.

Arrangement approved in financial year 1982/83.

Expiration date extended from April 17, 1985.

Arrangement canceled on April 22, 1985.

Arrangement canceled on April 24, 1985.

Arrangement canceled on April 3, 1984.

Arrangement approved in financial year 1982/83.

Expiration date extended from April 17, 1985.

Table I.3.Summary of Members’ Purchases and Repurchases, Financial Years Ended April 30, 1948-85(In millions of SDRs)
YearTotal Purchases

by Members
Total Repurchases

by Members
1948606.04
1949119.44
195051.8024.21
195128.0019.09
195246.2536.58
195366.12184.96
1954231.29145.11
195548.75276.28
195638.75271.66
19571,114.0575.04
1958665.7386.81
1959263.52537.32
1960165.53522.41
1961577.00658.60
19622,243.201,260.00
1963579.97807.25
1964625.90380.41
19651,897.44516.97
19662,817.29406.00
19671,061.28340.12
19681,348.251,115.51
19692,838.851,542.33
19702,995.651,670.69
19711,167.411,656.86
19722,028.493,122.33
19731,175.43540.30
19741,057.72672.49
19755,102.45518.08
19766,591.42960.10
19774,910.33868.19
19782,503.014,485.01
19793,719.584,859.18
19802,433.263,775.83
19814,860.012,852.93
19828,040.622,009.88
198311,391.891,555.12
198411,517.732,017.65
19856,288.872,730.391
Total93,218.32243,501.693

Excludes sales of currency to discharge repurchases for SDR 115 million, and if this is included, the total is SDR 2,845 million, as mentioned in paragraph 5 of the Notes to the Financial Statements, Appendix VIII, page 154 below.

Includes purchases that are not subject to repurchase.

Excludes sales of currency and adjustments that have the effect of repurchase.

Excludes sales of currency to discharge repurchases for SDR 115 million, and if this is included, the total is SDR 2,845 million, as mentioned in paragraph 5 of the Notes to the Financial Statements, Appendix VIII, page 154 below.

Includes purchases that are not subject to repurchase.

Excludes sales of currency and adjustments that have the effect of repurchase.

Table I.4.Summary of Stand-By Arrangements That Became Effective During the Financial Years Ended April 30, 1953—851(In millions of SDRs)
YearNumberAmount
1953255.00
1954262.50
1955240.00
1956247.50
195791,162.28
1958111,043.78
1959151,056.63
196014363.88
196115459.88
1962241,633.13
1963191,531.10
1964192,159.85
1965242,159.05
196624575.35
196725591.15
1968322,352.36
196926541.15
1970232,381.28
197118501.70
197213313.75
197313321.85
1974151,394.00
197514389.75
1976181,188.02
1977194,679.64
1978181,285.09
197914507.85
1980242,479.36
1981215,197.93
1982193,106.21
1983275,449.98
1984254,287.33
1985243,454.83
Total57052,773.16

Includes renewals and extensions for one year or less, except the renewals each six months of the stand-by arrangement for Belgium granted in June 1952 until that member purchased the full amount of the equivalent of SDR 50 million in April 1957.

Includes renewals and extensions for one year or less, except the renewals each six months of the stand-by arrangement for Belgium granted in June 1952 until that member purchased the full amount of the equivalent of SDR 50 million in April 1957.

Table I.5.Purchases of Currencies and SDRs from the Fund, Financial Year Ended April 30, 1985(In millions of SDRs)
Under Tranche PoliciesUnder Decision onPurchases Financed with
Under stand-by

arrangements
Extended Fund

facility
Within

reserve
First

credit
OrdinaryEnlarged

access
OrdinaryEnlarged

access
CompensatoryTotalOrdinary resourcesEnlarged

access
Member PurchasingtranchetrancheresourcesresourcesresourcesresourcesfinancingPurchasesCurrenciesSDRsresources
Argentina118.25118.25275.00511.5060.42332.83118.25
Bangladesh54.9554.9510.0044.95
Barbados1.951.953.901.951.95
Belize2.382.381.201.18
Brazil561.13561.13247.901,370.15333.00476.03561.13
Burma6.886.886.88
Cameroon7.00—:7.007.00
Central African Republic8.008.008.00
Chad3.203.203.20
Chile108.00108.00216.005.00103.00108,00
Comoros0.25.—_0.250.25
Congo2.502.502.50
Costa Rica12.0012.0024.001.5010.5012.00
Dominica0.970.970.97
Dominican Republic28.0328.0328.03
Ecuador11.4330.2430.2471.9041.6630.24
Fiji4.754.754.75
Gabon7.007.007.00
Ghana53.8553.8558.20165.9049.8562.2053.85
Guinea-Bissau1.881.881.88
Hungary38.93148.75148.75336.43187.68148.75
Ivory Coast62.0662.0662.06
Jamaica28.0072.60100.6086.7613.84
Jordan7.2357.4064.637.2357.40
Kenya14.9061.0575.9514.9061.05
Korea319.78279.70599.48279.70319.78
Liberia4.2517.2521.504.2517.25
Madagascar16.7516.7514.4047.9011.9019.2516.75
Malawi7.4411.5613.8032.803.9417.3011.56
Mali12.2512.2524.5012.2512.25
Mauritania2.402.400.402.00
Mauritius7.0023.507.5038.0014.5023.50
Mexico65.04451.41451.41967.86144.60371.85451.41
Morocco170.00170.00170.00
Mozambique13.2413.2413.24
New Zealand28.4728.4728.47
Niger11.603.2014.801.0010.603.20
Panama75.0075.0075.00
Peru21.2330.0074.70125.93125.93
Philippines42.5042.5085.0042.5042.50
Portugal46.4546.4554.60147.50101.0546.45
St. Christopher and Nevis0.980.980.98
St. Vincent0.350.350.35
Senegal13.7924.5638.356.307.4924.56
Somalia1.001.0032.6034.6017.4016.201.00
Sudan10.0010.0020.009.900.1010.00
Togo19.0019.001.5017.50
Turkey112.50112.50112.50
Uruguay9.469.469.46
Western Samoa1.271.272.530.420.841.27
Yemen Arab Republic5.95.—5.955.95
Yugoslavia140.00140.00280.0050.0090.00140.00
Zaïre100.0060.00160.0031.1068.9060.00
Zambia40.0040.0080.0040.0040.00
Total229.111.881,228.121,537.591,019.971,024.101,248.106,288.871,132.662,594.532,561.69
Table I.6.Repurchases of Currencies from the Fund, Financial Year Ended April 30, 1985(In millions of SDRs)
Repurchases in Respect of Purchases of
Borrowed ResourcesOrdinary Resources
Under
SupplementaryEnlargedExtendedCompenguidelines
MemberfinancingaccessCreditFundsatoryBufferfor early
RepurchasingfacilityresourcestranchefacilityfinancingstockrepurchaseTotal
Bangladesh24.231.855.9
Bolivia13.76.620.3
Brazil64.5164.5
Burma8.78.7
Burundi2.82.8
Central African Republic5.04.49.4
Chad4.44.4
Costa Rica2.75.119.026.8
Cyprus2.12.1
Dominica0.20.41.31.9
Dominican Republic5.823.2129.0
Egypt5.65.6
El Salvador4.012.116.1
Equatorial Guinea2.35.88.1
Ethiopia1.77.115.824.5
Gabon0.90.9
Gambia, The0.63.44.0
Grenada0.90.71.6
Guatemala2.49.612.0
Guinea-Bissau0.20.2
Guyana2.02.0
Haiti0.72.12.8
Honduras4.82.97.7
India133.0133.0
Indonesia3.623.6
Ivory Coast11.014.328.553.8
Jamaica30.110.912.918.372.2
Kenya12.523.91.317.355.0
Korea86.5135.593.3315.2
Lao People’s Democratic Republic6.36.3
Liberia2.85.36.314.4
Madagascar4.410.214.629.1
Malawi5.37.76.30.9120.3
Malaysia3.28.0244.255.5
Mali2.62.6
Mauritania2.03.53.99.4
Mauritius13.49.620.33.6146.8
Morocco30.128.158.2
Nepal5.25.2
Nicaragua2.710.613.3
Pakistan35.831.467.2
Panama5.2—.11.716.9
Papua New Guinea34.934.9
Peru48.827.175.9
Philippines58.354.837.252.2202.4
Romania6.732.5124.2163.4
St. Lucia0.50.50.9
St. Vincent0.70.7
Senegal5.65.30.710.522.1
Sierra Leone2.26.68.8
Solomon Islands0.30.3
Somalia0.96.57.4
Sri Lanka15.89.50.6225.9
Sudan6.32.11.011.721.2
Swaziland1.011.0
Tanzania4.16.210.020.3
Thailand9.139.969.82.1 2120.9
Togo1.86.68.4
Turkey145.055.035.8235.8
Uganda2.315.827.545.6
Western Samoa0.41.01.4
Yugoslavia65.1143.786.6295.4
Zaïre8.854.062.8
Zambia15.042.57.464.9
Zimbabwe18.82.1120.8
Total617.044.4908.874.5897.1109.579.12,730.4

Repurchase under the buffer stock financing facility (sugar) in accordance with paragraph 6(i) of Executive Board Decision No. 5597-(77/171), adopted December 16, 1977. (See Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), page 77.)

Repurchase under the buffer stock financing facility (rubber) in accordance with paragraph 3(b)(i) of Executive Board Decision No. 7246-(82/147), adopted November 12, 1982. (See Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 78-79.)

Repurchase under the buffer stock financing facility (sugar) in accordance with paragraph 6(i) of Executive Board Decision No. 5597-(77/171), adopted December 16, 1977. (See Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), page 77.)

Repurchase under the buffer stock financing facility (rubber) in accordance with paragraph 3(b)(i) of Executive Board Decision No. 7246-(82/147), adopted November 12, 1982. (See Selected Decisions of the International Monetary Fund and Selected Documents, Tenth Issue (Washington, 1983), pages 78-79.)

Table I.7.Extended Fund Facility Arrangements for Members, July 7, 1975–April 30, 1985(In millions of SDRs)
Of Total
Amount
Amount NotApproved,
TotalOf Which:Purchased atAmount Not
Date ofDate ofAmount ofBorrowedExpiration orPurchased as of
MemberInceptionExpirationArrangementResourcesCancellationApril 30, 1985
Approved in previous financial years
Bangladesh12/8/8012/7/83800.001480.80580.00
Brazil3/1/832/28/864,239.382,842.881,496.25
Costa Rica6/17/816/16/84276.752190.65254.25
Dominica2/6/812/5/848.554.49
Dominican Republic1/21/831/20/86371.253255.75247.50
Egypt7/28/787/27/81600.00525.00
Gabon6/27/8012/31/8234.0034.00
Grenada8/24/838/23/8613.5048.9812.37
Guyana6/25/796/24/8262.75535.0052.75
7/25/807/24/83150.006116.3798.27
Haiti10/25/7810/24/8132.2021.40
Honduras6/28/796/27/8247.6023.70
India11/9/8111/8/845,000.0072,595.501,100.00
Ivory Coast2/27/812/22/84484.50324.9038.47
Jamaica6/9/786/8/81200.008130.00
6/11/796/10/81260.009227.10175.00
4/13/814/12/84477.7010390.5574.90
Kenya7/7/757/6/7867.2059.50
Malawi9/19/839/18/86100.0081.4766.00
Mexico1/1/7712/31/79518.0011518.00
1/1/8312/31/853,410.632,287.131,203.75
Morocco10/8/8010/7/83810.0012600.00663.00
3/9/8110/7/83817.0513567.00680.55
Pakistan11/24/8011/23/831,268.0014869.00919.00
12/2/8111/23/83919.00490.12189.00
Peru6/7/826/6/85650.0015311.56385.00
Philippines4/2/764/1/79217.0016
Senegal8/8/808/7/83184.8017126.00143.70
Sierra Leone3/30/812/22/84186.0018121.81152.50
Sri Lanka1/1/7912/31/81260.30
Sudan5/4/795/3/82427.0019303.80176.00
Zaire6/22/816/21/84912.0020632.94737.00
Zambia5/8/815/7/84800.0021674.00500.00
Subtotal24,605.1614,537.808,490.862,766.00
Approved during financial year 1984/85
Total24,605.1614,537.808,490.862,766.00

Arrangement canceled as of June 21, 1982.

Canceled as of December 20, 1982 and replaced by a stand-by arrangement.

Arrangement canceled as of January 17, 1985.

Arrangement canceled as of January 23,1984.

Canceled as of June 24, 1980.

Arrangement augmented by SDR 50.00 million in July 1981 to a total of SDR 150.00 million. Arrangement canceled as of July 22,1982.

Arrangement canceled as of May 1,1984.

Canceled as of June 10,1979.

Canceled as of April 12, 1981.

Arrangement augmented by SDR 241.30 million in June 1981 to a total of SDR 477.70 million.

Includes augmentation by repurchase equivalent to SDR 100.00 million.

Canceled as of March 8,1981.

Arrangement canceled as of April 25, 1982 and replaced by a stand-by arrangement.

Canceled as of December 1,1981.

Arrangement canceled as of April 25, 1984 and replaced by a stand-by arrangement.

Includes augmentation by repurchase equivalent to SDR 38.75 million.

Canceled as of September 10, 1981 and replaced by a stand-by arrangement.

Arrangement augmented by SDR 22.30 million in June 1981 to a total of SDR 186.00 million. Arrangement canceled as of April 6, 1982.

Arrangement augmented by SDR 227.00 million in November 1980, canceled on February 17, 1982, and replaced by a stand-by arrangement.

Arrangement canceled as of June 22,1982.

Arrangement canceled as of July 3, 1982.

Arrangement canceled as of June 21, 1982.

Canceled as of December 20, 1982 and replaced by a stand-by arrangement.

Arrangement canceled as of January 17, 1985.

Arrangement canceled as of January 23,1984.

Canceled as of June 24, 1980.

Arrangement augmented by SDR 50.00 million in July 1981 to a total of SDR 150.00 million. Arrangement canceled as of July 22,1982.

Arrangement canceled as of May 1,1984.

Canceled as of June 10,1979.

Canceled as of April 12, 1981.

Arrangement augmented by SDR 241.30 million in June 1981 to a total of SDR 477.70 million.

Includes augmentation by repurchase equivalent to SDR 100.00 million.

Canceled as of March 8,1981.

Arrangement canceled as of April 25, 1982 and replaced by a stand-by arrangement.

Canceled as of December 1,1981.

Arrangement canceled as of April 25, 1984 and replaced by a stand-by arrangement.

Includes augmentation by repurchase equivalent to SDR 38.75 million.

Canceled as of September 10, 1981 and replaced by a stand-by arrangement.

Arrangement augmented by SDR 22.30 million in June 1981 to a total of SDR 186.00 million. Arrangement canceled as of April 6, 1982.

Arrangement augmented by SDR 227.00 million in November 1980, canceled on February 17, 1982, and replaced by a stand-by arrangement.

Arrangement canceled as of June 22,1982.

Arrangement canceled as of July 3, 1982.

Table I.8.Borrowing in Connection with Purchases Under the Supplementary Financing Facility and Repayments to Lenders, May 29, 1980-April 30, 1985(In millions of SDRs)
LenderTotal Amount of AgreementAmount BorrowedAmount Undrawn at Expiration of Agreements1Amount Repaid2Borrowing Outstanding as of April 30, 1985
Abu Dhabi150.00105.2244.7814.4290.80
Austrian National Bank50.0050.004.9245.08
Banque Nationale de Belgique150.0012.34137.666.176.17
Canada200.00173.6126.3912.68160.93
Deutsche Bundesbank1,050.001,050.00345.64832.35
Banco de Guatemala30.008.36421.648.36
Japan900.00886.6913.31115.25771.44
Central Bank of Kuwait400.00400.0046.10353.90
De Nederlandsche Bank, N.V.100.00100.0010.5689.44
Central Bank of Nigeria220.0069.855150.1569.85
Saudi Arabian Monetary Agency1,934.001,906.74327.26349.351,729.40
Swiss National Bank650.00650.0075.01574.99
United States1,450.001,450.00174.161,275.84
Central Bank of Venezuela500.00369.42130.5860.42309.00
Total7,784.007,232.22551.78992.896,239.33

Agreements lapsed on February 22,1984.

Repayments began on November 24, 1982.

Claims totaling SDR 172.011 million under the supplementary financing facility were transferred by the Deutsche Bundesbank to the Saudi Arabian Monetary Agency against U.S. dollars on November 13, 1980.

Claims totaling SDR 8.356 million were repaid in advance to the Banco de Guatemala on February 8,1982. This encashment was refinanced by a call on the Swiss National Bank.

Claims totaling SDR 69.850 million were repaid in advance to the Central Bank of Nigeria on April 8 and 9,1982. This encashment was financed by calls in equal amounts under the supplementary financing facility borrowing agreements with Japan and the United States, in agreement with these lenders.

Agreements lapsed on February 22,1984.

Repayments began on November 24, 1982.

Claims totaling SDR 172.011 million under the supplementary financing facility were transferred by the Deutsche Bundesbank to the Saudi Arabian Monetary Agency against U.S. dollars on November 13, 1980.

Claims totaling SDR 8.356 million were repaid in advance to the Banco de Guatemala on February 8,1982. This encashment was refinanced by a call on the Swiss National Bank.

Claims totaling SDR 69.850 million were repaid in advance to the Central Bank of Nigeria on April 8 and 9,1982. This encashment was financed by calls in equal amounts under the supplementary financing facility borrowing agreements with Japan and the United States, in agreement with these lenders.

Table I.9.Schedule of Fund Charges
Charges in percent per annum1 payable on holdings for the periods stated
Purchases in the Credit Tranches and Under the Compensatory Financing, Buffer Stock Financing, and Extended Fund Facilities From May 1,1984
Service charge0.5
Periodic charge7.0
Supplementary Financing Facility
Service charge0.5
Periodic charge
Up to 3½ yearsRate of interest paid by the Fund plus 0.2 percent
Over 3½ yearsRate of interest paid by the Fund plus 0.325 percent
Enlarged Access Policy
Service charge0.5
Periodic chargeNet cost of borrowing by the Fund plus 0.2 percent

Except for service charge, which is payable once per transaction and is stated as a percent of the amount of the transaction.

Except for service charge, which is payable once per transaction and is stated as a percent of the amount of the transaction.

Table I.10.Summary of Transactions and Operations in SDRs, Financial Year Ended April 30, 1985(In thousands of SDRs)
HoldersTotal

Holdings

April 30, 1984
Receipts from

Participants and

Prescribed Holders
Transfers to

Participants and

Prescribed Holders
Receipts

from the

General

Resources

Account
Transfers

to the

General Resources

Account
Interest,

Charges,

and Assessment (Net)
Positions as at April 30, 1985
DesignatedOtherDesignatedOtherHoldingsNet

cumulative

allocations
Holdings as

percent of

cumulative allocations
Participants
Afghanistan14,502107−1,38713,22226,70349.5
Algeria104,22012,368−1,320115,268128,64089.6
Antigua and Barbuda22
Argentina27,62685,274290,36141,244377,46895,710−34,86428,189318,3708.9
Australia132,219141,974140−36,669237,665470,54550.5
Austria155,51723,20748,00086,63537,571+ 1,380179,0391 79,045100.0
Bahamas1,053487−93760410,2305.9
Bahrain12,402+ 81013,2116,200213.1
Bangladesh7,12431,70039,00044,95033,409−4,9996,36547,12013.5
Barbados1,6872,1761,0913,486−8076618,0398.2
Belgium363,80176,40081,34765,149−5,203418,800485,24686.3
Belize19351,1691,511291+ 3107
Benin925250−9672089,4092.2
Bhutan2431+ 459
Bolivia1,5734,1543,5086,271−2,8897426,7030.3
Botswana7,487937+ 3848,8074,359202.1
Brazil48,510175,456473,154582,588286,767−39,1957,438358,6702.1
Burkina Faso5,628377−3785,6279,40959.8
Burma3,4396,9642,2065,607−4,7802,22243,4745.1
Burundi707660411123−1,44021513,6971.6
Cameroon1,1195007,094−2,3635,35024,46321.9
Canada53,560304,033245,27421,311−80,11253,518779,2906.9
Cape Verde10548−579762015.6
Central African Republic7464,6508,02011,385−9231,1099,32511.9
Chad4252,5483,2464,999−9922289,4092.4
Chile12,87254,45057,82033,500103,54054,117−13,23612,189121,92410.0
China366,85034,7006,017+ 11,966419,533236,800177.2
Colombia70,3174,22076,8178,699−4,0282,391114,2712.1
Comoros1314−7623971633.4
Congo4342,501−9671,9689,71920.3
Costa Rica82,5128,45025,48716,776−2,60417823,7260.7
Cyprus1,0061,0001,000275−2,12660519,4383.1
Denmark129,53926,40011,286−3,549163,6761 78,86491.5
Djibouti42450−843901,17833.1
Dominica511179661,9821,007−6111659219.6
Dominican Republic4,27614,13727,94235,19818,565−3,4373,66631,58511.6
Ecuador34517,58233,86142,00218,419−3,5194,13032,92912.5
Egypt7,01415,0503,404−14,9613,699135,9242.7
El Salvador2,9147,9014,99013,059−2,740624,985
Equatorial Guinea63,2401,1713,755−65745,8120.1
Ethiopia1,93210,80110,472−1,0581,20411,16010.8
Fiji6,8172,700393958−1378,8166,958126.7
Finland115,30210,09621,3706,493−3,640149,622142,690104.9
France415,980278,61888,63380,183−58,348627,8001,079,87058.1
Gabon6818887,085938−1,1824,75814,09133.8
Gambia, The538:—2,4212,395−5645,121
Germany, Federal Republic of1,356,668167,677399,218242,043+ 33,7401,400,9091,210,760115.7
Ghana6,25135,50060,00062,49930,170−6,7967,28362,98311.6
Greece4,4992,3956,556−11,3002,149103,5442.1
Grenada18100406397−101269302.8
Guatemala6822,0036,96723,559−3,0312,44927,6788.8
Guinea3843923,323794−1,9625591 7,6043.2
Guinea-Bissau251,6992,007196−13061,2120.5
Guyana13,12511,509−1,61614,530
Haiti4,0041,2952,9906,793−1,4465013,6970.4
Honduras2,57810,53511,041−1,9957619,0570.4
Hungary29,51125,083187,625210,53369,606+ 1,2449,141
Iceland1,1113,0001,484−1,77085716,4095.2
India375,779250,00023,381402,418−50,375196,368681,17028.8
Indonesia4210,90053,64757728,838−24,90911,419238,9564.8
Iran, Islamic Republic of310,9471,4452,185+ 7,682322,259244,056132.0
Iraq3,5045,162−7,2301,43668,4642.1
Ireland70,61614,6227,692−71592,21687,263105.7
Israel4,7507,0002,200−11,7042,246106,3602.1
Italy595,989141,76750,000110,14966,380−6,261737,725702,400105.0
Ivory Coast6,66430,80041,17389,07875,109−3,9976,26337,82816.6
Jamaica6,07575,77065,228−4,46740,613
Japan1,799,75014,151116,077+ 114,6902,016,365891,690226.1
Jordan17,39325,77833,44357,52537515,32216,88790.7
Kampuchea, Democratic1,276−1,27615,417
Kenya6,15762,57815,03376,766−3,1633,83936,99010.4
Korea14,728466,000883464,470−6,45710,68572,91114.7
Kuwait41,7746,74630,193+ 4,37283,08626,744310.7
Lao People’s Democratic Republic7201,404739−1,0353519,4093.7
Lebanon891,359−4001,0494,39323.9
Lesotho986235−3089143,73924.4
Liberia322,6283,35816,91214,314−1,90021,007
Libyan Arab Jamahiriya108,86321,006+ 8,530138,40058,771235.5
Luxembourg16,091692−7916,70316,95598.5
Madagascar1,5966,0801,50025,48415,676−2,0861,73819,2709.0
Malawi2,70410,28018,00017,3539,752−9171,66710,97515.2
Malaysia100,7868,00010,04819,303−3,91595,616139,04868.8
Maldives294−2672822.4
Mali761,0006,2184,40016,6904,301−1,7231,12515,9127.1
Malta31,8572,392+ 2,39836,64711,288324.7
Mauritania7,2925,2284,2743,746−1,0601,5339,71915.8
Mauritius2,0211,5009,50030,67121,725−1,6921,27515,7448.1
Mexico25,74544,100305,305429,438162,512−31,39473290,020
Morocco11,231104,10631,12719,42785,598−9,0958,94485,68910.4
Mozambique13,23713,23713,23713,237
Nepal504250796454−8712258,1052.8
Netherlands484,09862,50083,90561,404+ 6,543530,640530,340100.1
New Zealand6,00813,32728,47228,472−15,3054,030141,3222.9
Nicaragua2,913734−2,17919,483
Niger4,06310,00060011,1012,553−5901,4209,40915.1
Nigeria22,803−15,3157,488157,1554.8
Norway271,1125851,83261,06033,940+ 12,283258,693167,770154.2
Oman7,0005,2006,0002,689+ 3309,2186,262147.2
Pakistan20,81467,90067,417119,720−18,04918,362169,98910.8
Panama5,41039,70725636,872−2,5045,99726,32222.8
Papua New Guinea16,4333,34217,0002630,464+ 2776,6149,30071.1
Paraguay31,2832,578+ 2,10035,96113,697262.5
Peru158112,70084,227126,044134,722−9,14810,80591,31911.8
Philippines1,28073,73922,56443,96074,062−12,4459,908116,5958.5
Portugal8,59018,50054,60033,900110,44434,197−5,6459,19153,32017.2
Qatar10,8942,9002,907+ 15916,85912,822131.5
Romania1,78081,97012,97487,830−8,25064475,9500.8
Rwanda8,380428−5428,26613,69760.3
St. Christopher and Nevis977977977977
St. Lucia34207159−81742
St. Vincent433135040691−383540.1
São Tomé and Principe10912−526962011.1
Saudi Arabia529,45714,000666,137505,853+ 42,294425,467195,527217.6
Senegal2,9657,3005,00018,74718,747−2,6132,65124,46210.8
Seychelles494−38144063.5
Sierra Leone1,7005,7985,583−1,91517,455
Singapore54,7085,0005,702+ 4,55359,96216,475364.0
Solomon Islands1,6237528+ 951,196654182.8
Somalia25514,90028,39311,897−1,50634513,6972.5
South Africa21,20156,50015,00051,429−22,51218,760220,3608.5
Spain64,649121,61019,639−20,791185,107298,80561.9
Sri Lanka32,30624,216−7,76133070,8680.5
Sudan28,10322,229−5,87352,192
Suriname1,65040−5391,1517,75014.9
Swaziland3,4562,0192,5001,664−2561,0566,43216.4
Sweden126,71457,72014,113−8,702189,845246,52577.0
Syrian Arab Republic7,9724,8564,899−3,2544,67636,56412.8
Tanzania91,1505,5803,279−3,46031,372
Thailand32,304140,30015,000158,786−8,14220,67684,65224.4
Togo8201,1008,5003,30018,1983,952−1,1313,23510,97529.5
Trinidad and Tobago98,567+ 5,731104,29746,231225.6
Tunisia3,2651,523−3,2401,54834,2434.5
Turkey12,65095,990112,500197,031174,694−11,8446,633112,3075.9
Uganda3,56723,21313,46234,788−3,1662,28829,3967.8
United Arab Emirates63,076999+ 2,51766,59338,737171.9
United Kingdom522,071629,00220,737564,996118,483−145,725579,5721,913,07030.3
United States5,028,8247,820938,076+ 49,9316,024,6524,899,530123.0
Uruguay4,99314,7509,45817,85819,168−5,4153,56049,9777.1
Vanuatu3461+ 6101
Venezuela345,1301,60038,989+ 6,542392,441316,890123.8
Viet Nam2,033−2,03347,658
Western Samoa200942886−1091471,14212.9
Yemen Arab Republic8,64024,35911,90012,464262673+ 5088,7336,160141.8
Yemen, People’s Democratic Republic of17,52911,04215,2441,061−55611,71022,58351.9
Yugoslavia14,440114,62845,00045,000205,786218,482−16,7439,629155,1616.2
Zaïre43,36713,76474,000104,35168,989−9,3399,15486,30910.6
Zambia9431,66099,27360,055−7,54111168,2980.2
Zimbabwe5,05442,4372,0191,49443,008−6163,34110,20032.8
Total Participants14,960,5682,152,4192,762,4772,152,4192,739,9276,089,2443,658,791−608,35516,805,21821,433,33078.4
Prescribed Holders
Arab Monetary Fund19,13887,336104,043+ 1,1753,606
Bank of Central African States1,0428,9509,050+ 2691,211
East African Development Bank1,850750+ 1331,233
Eastern Caribbean Central Bank7681,134977+ 931,018
Islamic Development Bank1,044+ 1181,163
Nordic Investment Bank977,1057,202+ 98
Swiss National Bank13,1315,054+ 1,3969,473
Total Prescribed Holders37,070104,525127,076+ 3,19417,713
General Resources Account6,436,7303,658,7916,089,244+ 609,4714,615,747
Total21,434,3682,152,4196,525,7932,152,4198,956,2476,089,2443,658,791+ 4,31021,438,67821,433,330
Table I.11.Members That Have Accepted the Obligations of Article VIII, April 30, 1985
Effective DateEffective Date
Memberof AcceptanceMemberof Acceptance
Antigua and BarbudaNovember 22, 1983JapanApril 1, 1964
ArgentinaMay 14, 1968KuwaitApril 5, 1963
AustraliaJuly 1, 1965LuxembourgFebruary 15, 1961
AustriaAugust 1, 1962MalaysiaNovember 11, 1968
BahamasDecember 5, 1973MexicoNovember 12, 1946
BahrainMarch 20, 1973NetherlandsFebruary 15, 1961
BelgiumFebruary 15, 1961New ZealandAugust 5, 1982
BelizeJune 14, 1983NicaraguaJuly 20, 1964
BoliviaJune 5, 1967NorwayMay 11, 1967
CanadaMarch 25, 1952OmanJune 19, 1974
ChileJuly 27, 1977PanamaNovember 26, 1946
Costa RicaFebruary 1, 1965Papua New GuineaDecember 4, 1975
DenmarkMay 1, 1967PeruFebruary 15, 1961
DjiboutiSeptember 19, 1980QatarJune 4, 1973
DominicaDecember 13, 1979St. Christopher and NevisDecember 3, 1984
Dominican RepublicAugust 1, 1953St. LuciaMay 30, 1980
EcuadorAugust 31, 1970St. VincentAugust 24, 1981
El SalvadorNovember 6, 1946Saudi ArabiaMarch 22, 1961
FijiAugust 4, 1972SeychellesJanuary 3, 1978
FinlandSeptember 25, 1979SingaporeNovember 9, 1968
FranceFebruary 15, 1961Solomon IslandsJuly 24, 1979
Germany, Fed. Rep. ofFebruary 15, 1961South AfricaSeptember 15, 1973
GuatemalaJanuary 27, 1947SurinameJune 29, 1978
GuyanaDecember 27, 1966SwedenFebruary 15, 1961
HaitiDecember 22, 1953United Arab EmiratesFebruary 13, 1961
HondurasJuly 1, 1950United KingdomFebruary 15, 1961
IcelandSeptember 19, 1983United StatesDecember 10, 1946
IrelandFebruary 15, 1961UruguayMay 2, 1980
ItalyFebruary 15, 1961VanuatuDecember 1, 1982
JamaicaFebruary 22, 1963VenezuelaJuly 1, 1976
Table I.12.Publications Issued, Financial Year Ended April 30, 1985
Reports and Other Documents
Annual Report of the Executive Board for the Financial Year Ended April 30, 1984
(English, French, German, and Spanish). Free
Annual Report on Exchange Arrangements and Exchange Restrictions, 1984
One copy free; additional copies US$12.00 each
By-Laws, Rules and Regulations Forty-First Issue (English, French, and Spanish). Free
Selected Decisions of the International Monetary Fund and Selected Documents, Supplement to Tenth Issue Free
Summary Proceedings of the Thirty-Ninth Annual Meeting of the Board of Governors Free
World Economic Outlook, April 1985: A Survey by the Staff of the International Monetary Fund US$12.00. US$8.00 to university libraries, faculty members, and students.
Subscription Publications
Balance of Payments Statistics Vol. 36. A two-part yearbook and 12 monthly booklets. US$38.00 a year. US$19.00 to university libraries, faculty members, and students. US$12.00 for yearbook only.
Direction of Trade Statistics Monthly, with yearbook.

US$36.00 a year. US$18.00 to university libraries, faculty members, and students. US$10.00 for yearbook only.
Government Finance Statistics Yearbook

Vol. VIII, 1984. (Introduction and title of lines in English, French, and Spanish). US$20.00. US$10.00 to university libraries, faculty members, and students.
International Financial Statistics

Monthly, with yearbook (English, French, and Spanish) and two supplements (English). US$100.00 a year. US$50.00 to university libraries, faculty members, and students. Yearbook, US$25.00. Supplements separately, US$10.00 each.
Staff Papers

Four times a year. US$15.00 a year. US$7.50 to university libraries, faculty members, and students.
University libraries, faculty members, and students may obtain the five publications listed above at a special rate of US$80.00 for all five publications.
For users of Fund publications that have access to a computer, tape subscriptions to Balance of Payments Statistics, Direction of Trade Statistics, Government Finance Statistics Yearbook, and International Financial Statistics are available at US$1,500.00 a year each for single users and US$7,000.00 a year for time-sharing companies. This price includes the book version. The price to universities is US$500.00 a year for each publication.
Occasional Papers
No. 27 World Economic Outlook: A Survey by the Staff of the International Monetary Fund
No. 28 Exchange Rate Volatility and World Trade: A Study by the Research Department of the International Monetary Fund
No. 29 Issues in the Assessment of the Exchange Rates of Industrial Countries: A Study by the Research Department of the International Monetary Fund
No. 30 The Exchange Rate System—Lessons of the Past and Options for the Future: A Study by the Research Department of the International Monetary Fund
No. 31 International Capital Markets: Developments and Prospects, 1984
By Maxwell Watson, Peter Keller, and Donald Mathieson
No. 32 World Economic Outlook, September 1984: Revised Projections by the Staff of the International Monetary Fund
No. 33 Foreign Private Investment in Developing Countries: A Study by the Research Department of the International Monetary Fund
No. 34 Adjustment Programs in Africa: The Recent Experience By Justin B. Zulu and Saleh M. Nsouli
Occasional Paper No. 27, the World Economic Outlook, is available for US$12.00, with a special price of US$7.50 for university libraries, faculty members, and students. Occasional Papers Nos. 28-34 are available for US$7.50 each, with a special price of US$4.50 each for university libraries, faculty members, and students.
Books
Analyse et programmation financières: Application à la Côte d’Ivoire Cloth, US$20.00 Paper, US$12.50
Geldwertstabilität und Wirtschaftswachstum Edited by Hans Seidel. In German. DM 58.00
Legal and Institutional Aspects of the International Monetary System:

Selected Essays, Vol. II

By Joseph Gold. US$40.00
Programación financiera aplicada: El caso de Colombia Cloth, US$20.00 Paper, US$12.50
Public Enterprise in Mixed Economies: Some Macroeconomic Aspects By Robert H. Floyd, Clive S. Gray, and R.P. Short. US$12.00
Taxation, Inflation, and Interest Rates

Edited by Vito Tanzi. Cloth, US$20.00 Paper, US$15.00
Pamphlet Series
No. 37 The International Monetary Fund: Its Evolution, Organization, and Activities (fourth edition) (English and French) Free
No. 40 SDRs, Currencies, and Gold: Sixth Survey of New Legal Developments

By Joseph Gold (French and Spanish). Free
No. 41 The General Arrangements to Borrow By Michael Ainley (English). Free
No. 42 The International Monetary Fund: Its Financial Organization and Activities

By Anand G. Chandavarkar (English). Free
No. 43 The Technical Assistance and Training Services of the International Monetary Fund (English) Free
Other
Finance & Development

Issued jointly with World Bank; quarterly (English, Arabic, Chinese, French, German, Portuguese, and Spanish). Free
IMF Survey
Twice monthly but only once in December (English, French, and Spanish). Private firms and individuals are charged for delivery at an annual rate of US$30.00.

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