Chapter

APPENDIX II Operations and Financial Transactions of the Fund

Author(s):
International Monetary Fund
Published Date:
January 1993
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The tables in this appendix supplement the information given in the section on the Fund’s financial operations and policies.

Table II.1Arrangements Approved During Financial Years Ended April 30, 1953–93
Financial

Year
Number of ArrangementsAmount Committed Under Arrangements

(In millions of SDRs)
Stand-byEFFSAFESAFTotalStand-byEFFSAFESAF1Total
19532255.0055.00
19542262.5062.50
19552240.0040.00
19562247.5047.50
1957991,162.281,162.28
195811111,043,781,043.78
195915151,056.631,056.63
19601414363.88363.88
19611515459.88459.88
196224241,633.131,633.13
196319191,531.101,531.10
196419192,159.852,159.85
196524242,159.052,159.05
19662424575.35575.35
19672525591.15591.15
196832322,352.362,352.36
19692626541.15541.15
197023232,381.282,381.28
19711818501.70501.70
19721313313.75313.75
19731313321.85321.85
197415151,394.001,394.00
19751414389.75389.75
1976182201,188.02284.201,472.22
1977191204,679.64518.005,197.64
197818181,285.091,285.09
197914418507.851,092.501,600.35
1980244282,479.36797.353,276.71
19812111325,197.935,220.6010,418.53
1982195243,106.217,907.7511,013.96
1983274315,449.988,671.2614,121.24
1984252274,287.3394.504,831.83
198524243,218.333,218.33
1986181192,123.40825.002,948.40
19872210324,117.51487.694,605.20
198814115301,701.90245.401,008.632,955.93
198912147242,956.03207.30441.42954.974,559.72
199016334263,249.377,627.1045.22415.2311,336.92
199113223202,786.142,338.0052.78425.675,602.59
199221215295,586.812,493.053.15636.628,719.63
199311318231,970.811,241.8349.42478.163,740.22

Includes amounts previously committed under SAF arrangements that were replaced by ESAF arrangements.

Includes amounts previously committed under SAF arrangements that were replaced by ESAF arrangements.

Table II.2Arrangements in Effect at End of Financial Years Ended April 30, 1953–93
Financial

Year
Number of Arrangements as of April 30Amounts Committed Under Arrangements as of April 30

(In millions of SDRs)
Stand-byEFFSAF1ESAFTotalStand-byEFFSAF1ESAF2Total
19532255.0055.00
195433112.50112.50
195533112.50112.50
19563397.5097.50
1957991,194.781,194.78
195899967.53967.53
195911111,013.131,013.13
19601212351.38351.38
19611212416.13416.13
196221212,128.632,128.63
196317171,520.001,520.00
196419192,159.852,159.85
196523232,154.352,154.35
19662424575.35575.35
19672525591.15591.15
196831312,227.362,227.36
19692525538.15538.15
197023232,381.282,381.28
19711818501.70501.70
19721313313.75313.75
19731212281.85281.85
197415151,394.001,394.00
19751212337.25337.25
1976172191,158.96284.201,443.16
1977173204,672.92802.205,475.12
1978193225,075.09802.205,877.29
1979155201,032.851,610.502,643.35
1980227292,340.341,462.853,803.19
19812215375,331.035,464.1010,795.13
19822312356,296.219,910.1016,206.31
1983309399,464.4815,561.0025,025.48
1984305355,448.1613,121.2518,569.41
1985273303,925.337,750.0011,675.33
1986242264,075.73831.004,906.73
198723110344,313.10750.00327.455,390.55
198818225452,187.23995.401,357.384,540.01
1989142237463,054.051,032.301,566.25954.976,607.57
19901941711513,597.027,834.401,109.641,370.2013,911.26
19911451214452,702.589,596.70539.421,812,9514,651.65
1992227816534,832.6212,158.85101.152,110.7319,203.35
1993156420454,490.148,568.5883.232,137.3715,279.32

Includes arrangements where the three-year commitment period has expired but the third annual arrangement remains in effect (three cases in 1991, two cases in 1992, and one case in 1993). The committed amounts exclude these cases.

Includes amounts previously committed under SAF arrangements that were replaced by ESAF arrangements.

Includes arrangements where the three-year commitment period has expired but the third annual arrangement remains in effect (three cases in 1991, two cases in 1992, and one case in 1993). The committed amounts exclude these cases.

Includes amounts previously committed under SAF arrangements that were replaced by ESAF arrangements.

Table II.3Stand-By Arrangements in Effect During Financial Year Ended April 30, 1993(In millions of SDRs)
Amounts Approved
Arrangement DatesThrough 4/30/92In 1992/93Undrawn Balance
MemberNumber1Effective

date
Expiration

date
Total

amount
Borrowed

resources
Total

amount
At date of

termination
As at

4/30/93
Albania108/26/9208/25/9320.006.88
Barbados202/07/9205/31/9323.899.22
Brazil1201/29/9208/31/931,500.00977.161,372.50
Bulgaria204/17/9204/16/93155.00124.0031.00
Cameroon212/20/9109/19/9228.0020.00
Congo408/27/9005/26/9227.9823.98
Costa Rica1204/08/9109/30/92233.648.00
Costa Rica1304/19/9302/18/9421.0421.04
Côte d’Ivoire609/20/9109/19/9282.7549.65
Czech Republic3103/17/9303/16/94177.00107.00
Czechoslovakia3204/03/9212/31/924236.00200.00
Dominican Republic508/28/9103/27/9339.24
Ecuador1512/11/9112/10/9275.0056.44
Egypt505/17/9105/31/935234.4087.20
El Salvador1501/06/9203/05/9341.5041.50
Estonia109/16/9209/15/9327.9015.11
Gabon409/30/9103/29/9328.0024.00
Guatemala1212/18/9203/17/9454.0054.00
India610/31/9106/30/931,656.001,104.00231.00
Jamaica906/28/9109/30/92643.65
Jordan202/26/9208/25/9344.4011.10
Latvia109/14/9209/13/9354.9019.83
Lithuania110/21/9209/20/9356.9326.45
Mongolia110/04/9112/31/92722.508.75
Morocco1401/31/9203/31/9391.9873.58
Nicaragua1209/18/9103/17/9340.8623.83
Panama1702/24/9212/23/9393.6858.83
Papua New Guinea207/31/9109/30/9226.3626.36
Philippines1902/20/9103/31/938334.20
Poland203/08/9303/07/94476.00476.00
Romania505/29/9203/28/939314.0452.34
Russia108/05/9201/04/93719.00
Uruguay1607/01/9206/30/9350.0034.03
Total4,859.032,205.161,970.81639.432,530.18

Refers to total number of stand-by arrangements approved for member since 1953.

Extended from April 7, 1992.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Canceled prior to original expiration date of April 2, 1993.

Extended from November 30, 1992, March 1, 1993, and March 22, 1993, and amount decreased from SDR 278.00 million.

Extended from June 30, 1992.

Extended from October 3, 1992.

Extended from August 19, 1992 and December 31, 1992. Amount approved includes augmentation for interest support of SDR 70.00 million.

Amount approved includes SDR 245.61 million of ordinary resources substituted for borrowed resources.

Refers to total number of stand-by arrangements approved for member since 1953.

Extended from April 7, 1992.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Canceled prior to original expiration date of April 2, 1993.

Extended from November 30, 1992, March 1, 1993, and March 22, 1993, and amount decreased from SDR 278.00 million.

Extended from June 30, 1992.

Extended from October 3, 1992.

Extended from August 19, 1992 and December 31, 1992. Amount approved includes augmentation for interest support of SDR 70.00 million.

Amount approved includes SDR 245.61 million of ordinary resources substituted for borrowed resources.

Table II.4Extended Fund Facility Arrangements in Effect During Financial Year Ended April 30, 1993(In millions of SDRs)
Amounts Approved
Arrangement DatesThrough 4/30/92In 1992/93Undrawn Balance
MemberNumber1Effective

date
Expiration

date
Total

amount
Borrowed

resources
Total

amount
At date of

termination
As at

4/30/93
Argentina103/31/9203/30/9522,483.151,261.011,182.16
Hungary102/20/9102/19/941,114.00431.07556.77
Jamaica412/11/9212/10/95109.13100.13
Mexico305/26/8905/25/9333,729.602,481.60466.20
Peru203/18/9303/17/961,018.10375.41
Poland104/18/9103/08/9341,224.00459.501,147.50
Tunisia107/25/8807/24/925207.3024.77
Venezuela106/23/8903/22/9363,857.101,937.001,851.50
Zimbabwe101/24/9209/11/927343.8076.40272.60
Zimbabwe209/11/9209/10/95114.6083.30
Total12,958.956,671.341,241.833,271.602,763.97

Refers to total number of extended arrangements approved for member since 1953.

Amount approved includes augmentation for interest support of SDR 333.90 million.

Amount approved includes augmentation for interest support of SDR 466.20 million. Extended from May 25, 1992.

Cancelled prior to original expiration date of April 17, 1994.

Amount decreased to SDR 138.20 million, then extended from July 24, 1991 and amount increased to SDR 207.30 million.

Amount approved includes augmentation for interest support of SDR 154.00 million. Extended from June 22, 1992 and September 22, 1992.

Cancelled prior to original expiration date of January 23, 1995.

Refers to total number of extended arrangements approved for member since 1953.

Amount approved includes augmentation for interest support of SDR 333.90 million.

Amount approved includes augmentation for interest support of SDR 466.20 million. Extended from May 25, 1992.

Cancelled prior to original expiration date of April 17, 1994.

Amount decreased to SDR 138.20 million, then extended from July 24, 1991 and amount increased to SDR 207.30 million.

Amount approved includes augmentation for interest support of SDR 154.00 million. Extended from June 22, 1992 and September 22, 1992.

Cancelled prior to original expiration date of January 23, 1995.

Table II.5Arrangements Under the Structural Adjustment Facility Through Financial Year Ended April 30, 1993(In millions of SDRs)
Arrangement DatesAmounts Approved1DisbursementsUndisbursed
MemberDate of

approval
Date of

expiration
Through

4/30/92
In

1992/93
Through

4/30/93
At expiration/

replacement
As at

4/30/93
Bangladesh02/06/8702/05/90201.25201.25
Benin06/16/8906/15/9221.9115.656.26
Bolivia12/15/8607/27/8863.4918.1445.352
Burkina Faso03/13/9103/31/9322.126.3215.802
Burundi08/08/8608/07/8929.8929.89
Central African Republic06/01/8705/31/9021.2821.28
Chad10/30/8710/29/9021.4221.42
Comoros06/21/9106/20/943.150.902.25
Dominica11/26/8611/25/892.802.80
Equatorial Guinea12/07/8812/06/91312.889.203.682
Ethiopia10/28/9210/27/9549.4214.1235.30
Gambia, The09/17/8611/23/8811.978.553.422
Ghana11/06/8711/09/88143.1540.90102.252
Guinea07/29/8707/28/9028.9528.9511.58
Guinea-Bissau10/14/8710/13/903.753.751.50
Haiti12/17/8612/16/898.828.8222.05
Kenya02/01/8805/15/8999.4028.4071.002
Lao People’s Democratic Republic09/18/8909/17/92320.5120.51
Lesotho06/29/8806/28/9110.5710.57
Madagascar08/31/8705/15/8946.4813.2833.20
Mali08/05/8808/04/9135.5625.4010.162
Mauritania09/22/8605/24/8923.7316.956.782
Mozambique06/08/8706/07/9042.7042.70
Nepal10/14/8710/13/9026.1126.11
Niger11/17/8612/12/8823.5916.856.742
Pakistan12/28/8812/27/913382.41382.41
Rwanda04/24/9104/23/9430.668.7621.90
Sao Tome and Principe06/02/8906/01/920.800.802.00
Senegal11/10/8611/21/8859.5742.5517.022
Sierra Leone11/14/8611/13/8911.5811.5828.95
Somalia06/29/8706/28/908.848.8422.10
Sri Lanka03/09/8803/08/91156.17156.17
Tanzania10/30/8710/29/9074.9074.90
Togo03/16/8805/31/8926.887.6819.202
Uganda06/15/8704/17/8969.7249.8019.922
Zaïre05/15/8705/14/90145.50145.5058.20
Total1,892.5149.421,521.70507.1659.45

The following have been reduced as a consequence of expiration of commitment period: Guinea, SDR 11.58 million; Guinea-Bissau, SDR 1.50 million; Haiti, SDR 22.05 million; Sao Tome and Principe, SDR 2.00 million; Sierra Leone, SDR 28.95 million; Somalia, SDR 22.10 million; and Zaïre, SDR 58.20 million.

See Table II.6 for undisbursed amounts that subsequently were committed under an ESAF arrangement that replaced the SAF arrangement on date shown as SAF expiration date.

Expiration date for third annual arrangement is as follows: Equatorial Guinea, December 3, 1992; Lao People’s Democratic Republic, May 4, 1993; and Pakistan, December 15, 1992.

The following have been reduced as a consequence of expiration of commitment period: Guinea, SDR 11.58 million; Guinea-Bissau, SDR 1.50 million; Haiti, SDR 22.05 million; Sao Tome and Principe, SDR 2.00 million; Sierra Leone, SDR 28.95 million; Somalia, SDR 22.10 million; and Zaïre, SDR 58.20 million.

See Table II.6 for undisbursed amounts that subsequently were committed under an ESAF arrangement that replaced the SAF arrangement on date shown as SAF expiration date.

Expiration date for third annual arrangement is as follows: Equatorial Guinea, December 3, 1992; Lao People’s Democratic Republic, May 4, 1993; and Pakistan, December 15, 1992.

Table II.6Arrangements Under the Enhanced Structural Adjustment Facility Through Financial Year Ended April 30, 1993(In millions of SDRs)
MemberArrangement DatesApproved Through

4/30/92
Approved in 1992/93Undisbursed

as at

4/30/93
Date of

approval
Date of

expiration1
Total

amount
ESAF Trust

resources
Total

amount
ESAF Trust

resources
Disbursements

Through 4/30/93
TotalESAF Trust2
Bangladesh08/10/9009/13/933345.00345.00345.00345.00
Benin01/25/9301/24/9646.9539.957.834.3339.13
Bolivia07/27/8809/10/934163.26117.91149.66104.3113.61
Burkina Faso03/31/9303/30/9648.6232.828.844.1039.78
Burundi11/13/9111/12/9442.7042.7019.2119.2123.49
Equatorial Guinea02/03/9302/02/9612.889.932.761.2910.12
Gambia, The11/23/8811/22/9120.5217.1020.5217.10
Ghana11/09/8803/05/925388.55286.30388.55286.30
Guinea11/06/9111/05/9457.9057.9017.3717.3740.53
Guyana07/13/9012/20/9381.5247.0872.6743.158.86
Honduras07/24/9207/23/9540.6840.686.786.7833.90
Kenya05/15/8903/31/936261.40190.40216.17145.17
Lesotho05/22/9105/21/9418.1218.1210.5710.577.55
Madagascar05/15/8905/14/9276.9043.7051.2718.07
Malawi07/15/8805/31/93766.9640.9261.3835.345.58
Mali08/28/9208/27/9560.9650.8010.165.0850.80
Mauritania05/24/8912/08/94816.9513.5633.9030.4925.4318.6325.43
Mozambique06/01/9009/30/939100.65100.6585.4085.4015.25
Nepal10/05/9210/04/9533.5733.575.605.6027.98
Niger12/12/8812/11/911047.1840.4423.5916.85
Senegal11/21/8806/02/92144.67127.65144.67127.65
Sri Lanka09/13/9109/12/94336.00336.00168.00168.00168.00
Tanzania07/29/9107/28/94181.90181.9085.6085.6096.30
Togo05/31/8905/19/9346.0826.8838.4019.207.68
Uganda04/17/8911/24/9311219.12199.20199.20179.2819.92
Zimbabwe09/11/9209/10/95200.60200.6054.7054.70145.90
Total2,615.382,233.41478.16438.842,219.301,824.05779.79

Expiration date for three-year arrangement, or for third or fourth annual arrangement, if applicable.

Financed with drawings under the following ESAF borrowing agreements: Export-Import Bank of Japan (SDR 608.7 million); Caisse Centrale de Cooperation Economique-France (SDR 374.0 million); Bank of Spain (SDR 165.8 million); Canada (SDR 66.1 million); Bank of Norway (SDR 24.2 million); Korea (SDR 14.4 million); Ufficio Italiano dei Cambi (SDR 84.0 million); and Kreditanstalt fur Wiederaufbau—Germany (SDR 290.5 million). Drawings were also made under the associated loan agreement with the Saudi Fund for Development (SDR 19.5 million). The balance of SDR 177.0 million was financed using resources available under the borrowing agreement with the Swiss Confederation.

Amount increased from SDR 258.75 million.

Amount increased from SDR 136.05 million.

Amount increased from SDR 368.10 million.

Amount increased from SDR 241.40 million.

Amount increased from SDR 55.80 million.

Three-year arrangement expired on May 23, 1992. An additional two-year arrangement for the undrawn balance was approved on December 9, 1992.

Amount increased from SDR 85.40 million.

Decreased from SDR 50.55 million to SDR 47.18 million. Undrawn balance of SDR 23.59 million at expiration.

Amount increased from SDR 179.28 million.

Expiration date for three-year arrangement, or for third or fourth annual arrangement, if applicable.

Financed with drawings under the following ESAF borrowing agreements: Export-Import Bank of Japan (SDR 608.7 million); Caisse Centrale de Cooperation Economique-France (SDR 374.0 million); Bank of Spain (SDR 165.8 million); Canada (SDR 66.1 million); Bank of Norway (SDR 24.2 million); Korea (SDR 14.4 million); Ufficio Italiano dei Cambi (SDR 84.0 million); and Kreditanstalt fur Wiederaufbau—Germany (SDR 290.5 million). Drawings were also made under the associated loan agreement with the Saudi Fund for Development (SDR 19.5 million). The balance of SDR 177.0 million was financed using resources available under the borrowing agreement with the Swiss Confederation.

Amount increased from SDR 258.75 million.

Amount increased from SDR 136.05 million.

Amount increased from SDR 368.10 million.

Amount increased from SDR 241.40 million.

Amount increased from SDR 55.80 million.

Three-year arrangement expired on May 23, 1992. An additional two-year arrangement for the undrawn balance was approved on December 9, 1992.

Amount increased from SDR 85.40 million.

Decreased from SDR 50.55 million to SDR 47.18 million. Undrawn balance of SDR 23.59 million at expiration.

Amount increased from SDR 179.28 million.

Table II.7Summary of Disbursements, Repurchases, and Repayments, Financial Years Ended April 30, 1948–93(In millions of SDRs)
Financial

Year
DisbursementsRepurchases and RepaymentsTotal

Fund Credit

Outstanding4
Purchases1Trust Fund

loans
SAF

loans
ESAF

loans2
TotalRepurchases3Trust Fund

repayments
SAF

repayments
Total
1948606.04606.04133.90
1949119.44119.44192.70
195051.8051.8024.2124.21204.10
195128.0028.0019.0919.09175.80
195246.2546.2536.58.36.58213.50
195366.1266.12184.96184.96178.20
1954231.29231.29145.11145.11132.10
195548.7548.75276.28276.2854.90
195638.7538.75271.66271.6672.00
19571,114.051,114.0575.0475.04610.60
1958665.73665.7386.8186.811,026.50
1959263.52263.52537.32537.32897.60
1960165.53165.53522.41522.41329.60
1961577.00577.00658.60658.60551.50
19622,243.202,243.201,260.001,260.001,022.80
1963579.97579.97807.25807.251,058.90
1964625.90625.90380.41380.41951.80
19651,897.441,897.44516.97516.971,480.10
19662,817.292,817.29406.00406.003,039.00
19671,061.281,061.28340.12340.122,945.30
19681,348.251,348.251,115.511,115.512,462.50
19692,838.852,838.851,542.331,542.333,299.00
19702,995.652,995.651,670.691,670.694,020.20
19711,167.411,167.411,656.861,656.862,556.30
19722,028.492,028.493,122.333,122.33840.20
19731,175.431,175.43540.30540.30998.20
19741,057.721,057.72672.49672.491,084.70
19755,102.455,102.45518.08518.084,869.20
19766,591.426,591.42960.10960.109,759.80
19774,910.3331.614,941.94868.19868.1913,686.91
19782,503.01268.242,771.254,485.014,485.0112,366.05
19793,719.58670.054,389.634,859.184,859.189,843.30
19802,433.26961.543,394.803,775.833,775.839,967.44
19814,860.011,059.875,919.882,852.932,852.9312,536.13
19828,040.628,040.622,009.882,009.8817,792.93
198311,391.8911,391.891,555.1218.451,573.5726,562.76
198411,517.7311,517.732,017.65110.972,128.6234,603.47
19856,288.876,288.872,730.39212.342,942.7337,622.18
19864,101.224,101.224,289.01412.714,701.7236,877.03
19873,684.56139.343,823.906,169.32579.326,748.6433,443.29
19884,152.56444.874,597.437,934.57528.158,462.7229,542.99
19892,541.18290.14264.003,095.326,257.74447.236,704.9725,520.37
19904,502.68418.59407.675,328.946,042.09355.526,397.6124,388.23
19916,955.4383.71491.137,530.275,440.22167.805,608.0225,603.03
19925,308.11125.07483.245,916.424,768.020.091.874,769.9826,735.92
19938,465.2219.98573.269,058.464,082.7935.834,118.6228,496.47

Purchases include reserve tranche purchases.

ESAF loans include SDR 395.26 million of SAF resources disbursed under ESAF arrangements.

Repurchases exclude sale of currency and adjustments that have the effect of repurchase.

End of year.

Purchases include reserve tranche purchases.

ESAF loans include SDR 395.26 million of SAF resources disbursed under ESAF arrangements.

Repurchases exclude sale of currency and adjustments that have the effect of repurchase.

End of year.

Table II.8Purchases from the Fund, Financial Year Ended April 30, 1993(In millions of SDRs)
Stand-By ArrangementsExtended ArrangementsCompensatory

and

Contingency

Financing

Facility
MemberReserve TrancheOrdinary resourcesSubstituted resourcesOrdinary resourcesSubstituted resourcesEmergency PurchasesTotal Purchases
Afghanistan, Islamic State of8.438.43
Albania2.5813.1315.70
Algeria72.8372.83
Angola15.5815.58
Antigua and Barbuda0.880.88
Argentina106.031,207.1478.851,392.01
Armenia15.8415.84
Azerbaijan27.4627.46
Bahamas, The7.137.13
Bangladesh26.2526.25
Barbados3.706.149.84
Belarus65.8065.80
Benin3.503.50
Bhutan0.500.50
Brazil177.38177.38
Bulgaria20.6772.3393.00
Burkina Faso3.153.15
Burundi5.005.00
Cameroon10.6010.60
Cape Verde0.630.63
Central African Republic2.702.70
Chad2.682.68
Chile45.3045.30
Congo5.155.15
Côte d’Ivoire18.1818.18
Croatia20.3820.38
Czech Republic170.0070.00
Czechoslovakia164.2518.0082.25
Dominica0.500.50
Dominican Republic11.6839.2450.92
El Salvador9.159.15
Equatorial Guinea1.481.48
Estonia10.9112.7923.70
Gabon9.309.30
Georgia26.0526.05
Grenada0.630.63
Guatemala11.4511.45
Guinea5.205.20
Guinea-Bissau0.750.75
Guyana4.504.50
Honduras6.806.80
India385.00770.001,155.00
Iran, Islamic Rep. of104.63104.63
Israel54.9054.90
Jamaica13.8521.859.0044.70
Jordan11.9525.9037.85
Kazakhstan58.0858.08
Kenya14.3514.35
Kiribati0.380.38
Kyrgyzstan15.1415.14
Lao People’s Democratic Republic2.452.45
Latvia21.4735.0856.55
Lithuania24.2930.4854.76
Madagascar6.006.00
Malawi3.433.43
Mali4.534.53
Marshall Islands0.590.59
Mauritania3.403.40
Mexico146.95233.10380.05
Moldova21.1213.5034.62
Mongolia3.032.505.53
Mozambique5.755.75
Myanmar11.9811.98
Namibia7.407.40
Nepal3.683.68
Nicaragua6.986.98
Niger3.653.65
Nigeria108.03108.03
Pakistan52.98189.55242.53
Panama9.809.80
Papua New Guinea7.357.35
Peru33.80642.69676.49
Philippines220.95220.95
Romania57.6868.43193.2776.80396.18
Russia1,012.13719.001,731.13
Sao Tome and Principe0.380.38
Senegal8.458.45
Solomon Islands0.630.63
South Africa112.43112.43
St. Kitts and Nevis0.500.50
St. Lucia0.880.88
Togo3.983.98
Trinidad and Tobago19.1819.18
Tunisia16.9527.0624.7768.78
Turkey53.2353.23
Turkmenistan11.2611.26
Uganda8.588.58
Ukraine234.03234.03
Uruguay15.9815.98
Uzbekistan46.8246.82
Yemen14.0014.00
Zimbabwe17.5831.3048.88
Total3,180.951,714.921,035.602,150.28103.6290.30189.558,465.22

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Table II.9Repurchases from the Fund, Financial Year Ended April 30, 1993(In millions of SDRs)
Ordinary Resources
MemberStand-by/

credit

tranche
Extended

Fund

facility
Compensatory

and contingency

financing

facility
Borrowed ResourcesTotal

Repurchases
Supplementary

financing

facility
Enlarged

access

resources
Algeria58.39118.20176.59
Argentina67.83181.42191.44440.69
Bangladesh38.9438.94
Bolivia22.6422.64
Bosnia and Herzegovina0.010.01
Brazil182.65228.59411.24
Cambodia16.256.25
Cameroon17.3823.1840.56
Central African Republic0.130.881.00
Chile12.6954.8688.80156.35
Costa Rica1.251.25
Côte d’Ivoire2.497.0741.3810.7961.72
Croatia13.084.8117.88
Dominica0.320.32
Dominican Republic9.099.09
Ecuador7.9016.0116.2640.17
Egypt14.5014.50
Gabon11.1614.5025.66
Gambia, The0.510.51
Ghana6.8139.3846.19
Guatemala11.5810.8022.38
Hungary32.6832.68
India225.00225.00
Indonesia57.8657.86
Jamaica31.5023.0054.50
Jordan7.9811.9419.92
Kenya29.3420.005.5954.94
Macedonia, former

Yugoslav Republic of
2.480.913.39
Madagascar1.678.4210.09
Malawi4.633.093.8811.59
Mali2.222.404.62
Mauritania3.503.50
Mexico22.79187.25170.06288.77668.86
Morocco37.0852.2989.37
Niger4.774.77
Pakistan87.4128.12115.53
Panama10.2510.25
Peru30.00113.88235.6061.9336.52477.93
Philippines17.5065.9283.42
Romania153.40153.40
Senegal10.0213.5623.58
Yugoslavia, Federal Republic of

(Serbia/Montenegro)
0.020.02
Slovenia7.522.7710.29
Sri Lanka54.4054.40
Tanzania1.561.56
Togo2.175.187.34
Trinidad and Tobago31.8442.5374.36
Tunisia15.7515.75
Uganda15.5315.53
Uruguay15.7215.72
Venezuela171.44171.44
Western Samoa0.050.05
Yugoslavia215.3020.1635.46
Zambia2.3923.3414.3440.06
Total1,007.98864.081,204.5261.93942.604,081.12

Does not include a gold tranche repurchase of SDR 1.67 million.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

Does not include a gold tranche repurchase of SDR 1.67 million.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

Table II.10Outstanding Fund Credit by Facility and Policy, at End of Financial Years Ended April 30, 1987–93(In millions of SDRs)
1987198819891990199119921993
AmountPercent

of total
AmountPercent

of total
AmountPercent

of total
AmountPercent

of total
AmountPercent

of total
AmountPercent

of total
AmountPercent

of total
Stand-by arrangements1
Ordinary resources6,57519.75,73219.45,96423.45,11921.05,19620.35,87022.06,76623.7
Substituted resources2751.01,3104.6
Supplementary financing2,0616.21,0643.65272.12260.91510.61420.5800.3
Enlarged access policy6,38019.16,50022.05,45821.44,64819.13,97615.53,18311.92,4218.5
Extended Fund facility
arrangements
Ordinary resources6,24218.75,76219.55,05519.85,47222.45,82322.75,58320.96,86924.1
Substituted resources2671.03701.3
Supplementary financing1,7085.11,0973.75992.32491.01170.51170.41170.4
Enlarged access policy3,86711.63,32911.32,4099.42,56110.52,5009.82,67410.02,4938.7
Compensatory and contingency
financing4,77914.34,34214.73,68914.53,82315.75,14220.15,32219.94,20814.8
Buffer stock financing340.13
Subtotal (General
Resources Account)31,64694.627,82994.223,70092.922,09890.622,90689.523,43287.624,63586.5
SAF arrangements1390.45842.08743.41,2935.31,3775.41,5005.61,4845.2
ESAF arrangements22641.06722.81,1634.51,6466.22,2197.8
Trust Fund1,6585.01,1293.86822.73261.31580.61580.61580.6
Total33,443100.029,543100.025,520100.024,388100.025,603100.026,736100.028,496100.0

Includes outstanding first credit tranche and emergency purchases.

Includes outstanding associated loans from the Saudi Fund for Development.

Includes outstanding first credit tranche and emergency purchases.

Includes outstanding associated loans from the Saudi Fund for Development.

Table II.11Borrowed Resources and Repayments to Lenders (Excluding the GAB and ESAF), May 29, 1980–April 30, 1993(In millions of SDRs)
Total

Amount of

Agreement

(1)
Amount

Borrowed

(2)
As Percent

of Total

(3)
Repayments

(4)
Outstanding

Balance

(2)–(4)

(5)
Balance

Available

(1)–(2)

(6)
Enlarged access resources
Medium-term
Saudi Arabian Monetary Agency (SAMA)8,0008,0001007,625375
Short-term
Concluded in 198111,2751,2751001,275
Concluded in 19846,0004,200704,200
Of which
BIS, Japan, and BNB3,0003,0001003,000
SAMA3,0001,200401,200
Subtotal15,27513,4758813,100375
Borrowing agreement with Japan3,0003,000100152,985
Supplementary financing facility7,7847,232937,232
Total26,05923,7079120,3473,360

Composed of agreements with the Bank for International Settlements (BIS) (SDR 675 million), National Bank of Belgium (BNB) (SDR 50 million), Swiss National Bank, Bank of England, and Japan (SDR 150 million each), Reserve Bank of Australia (SDR 50 million), Bank of Finland (SDR 30 million), and Central Bank of Ireland (SDR 20 million). Another agreement for SDR 30 million was not drawn upon in view of the lender’s weak balance of payments and reserve positions.

Composed of agreements with the Bank for International Settlements (BIS) (SDR 675 million), National Bank of Belgium (BNB) (SDR 50 million), Swiss National Bank, Bank of England, and Japan (SDR 150 million each), Reserve Bank of Australia (SDR 50 million), Bank of Finland (SDR 30 million), and Central Bank of Ireland (SDR 20 million). Another agreement for SDR 30 million was not drawn upon in view of the lender’s weak balance of payments and reserve positions.

Table II.12Enhanced Structural Adjustment Facility, Contributions as of April 30, 19931(In millions of SDRs)
Subsidies
Contributor(Grant or grant

equivalent)2
Loans3
Austria(44)
Belgium(87)
Canada(160)300
Denmark47
Finland39
France(374)800
Germany154700
Greece(26)
Iceland3
Italy(198)370
Japan3932,2004
Korea(49)65
Luxembourg5
Malaysia(36)
Malta1
Netherlands71
Norway2890
Saudi Arabia(107)200
Singapore(25)
Spain220
Sweden123
Switzerland(118)200
United Kingdom361
United States105
Total2,53555,145

Some of the contributions listed are subject to parliamentary approval or completion of other internal procedures.

The subsidy contributions listed take a variety of forms, including grants and the grant element of resources provided for the benefit of the ESAF at concessional rates of interest. Figures indicated are partly staff estimates taking into account information on the likely timing of subsidy contributions in relation to projected operational needs and estimated investment earnings on balances held by or for the benefit of the Subsidy Account. Amounts in parentheses represent estimates of the subsidy value of contributions at concessional interest rates or in the form of grants sufficient to reduce the effective interest rate on accompanying loans to 0.5 percent or less; in general, the calculated subsidy value of these contributions will rise or fall with increases or decreases in interest rates over time. The other amounts listed are based on specific grant amounts indicated by contributors. Contributions expressed in local currency are valued at April 30, 1993 exchange rates.

Loan contributions are provided either at concessional interest rates or on the basis of weighted averages of market interest rates in the five currencies comprising the SDR basket.

Additional loan amounts of up to SDR 0.3 billion could be provided by Japan, subject to the availability of further contributions to the Subsidy Account to subsidize those amounts down to 0.5 percent, and to the extent that total loan contributions do not thereby exceed SDR 6 billion.

Total also includes a contribution that has not been announced publicly. In addition, the sum of individual contributions has been adjusted downward to take into account estimated additional loan costs.

Some of the contributions listed are subject to parliamentary approval or completion of other internal procedures.

The subsidy contributions listed take a variety of forms, including grants and the grant element of resources provided for the benefit of the ESAF at concessional rates of interest. Figures indicated are partly staff estimates taking into account information on the likely timing of subsidy contributions in relation to projected operational needs and estimated investment earnings on balances held by or for the benefit of the Subsidy Account. Amounts in parentheses represent estimates of the subsidy value of contributions at concessional interest rates or in the form of grants sufficient to reduce the effective interest rate on accompanying loans to 0.5 percent or less; in general, the calculated subsidy value of these contributions will rise or fall with increases or decreases in interest rates over time. The other amounts listed are based on specific grant amounts indicated by contributors. Contributions expressed in local currency are valued at April 30, 1993 exchange rates.

Loan contributions are provided either at concessional interest rates or on the basis of weighted averages of market interest rates in the five currencies comprising the SDR basket.

Additional loan amounts of up to SDR 0.3 billion could be provided by Japan, subject to the availability of further contributions to the Subsidy Account to subsidize those amounts down to 0.5 percent, and to the extent that total loan contributions do not thereby exceed SDR 6 billion.

Total also includes a contribution that has not been announced publicly. In addition, the sum of individual contributions has been adjusted downward to take into account estimated additional loan costs.

Table II.13Summary of Transactions and Operations in SDRs, Financial Year Ended April 30, 1993(In thousands of SDRs)
Receipts from the General Resources

Account
Transfers to the General Resources

Account
Interest, Charges, and Assessment (Net)Positions as of April 30, 1993
Total Holdings April 30, 1992Receipts from Participants and Prescribed HoldersTransfers to Participants and Prescribed HoldersHoldingsNet cumulative

allocations
Holdings as percent of cumulative

allocations
HoldersDesignatedOtherDesignatedOther
PARTICIPANTS
Afghanistan, Islamic State of4,2708,4258,4258,4258,425(1,418)2,85226,70310.7
Albania2,5756,0096,3312,89711
Algeria487122,989105,388110,940119,445(7,822)1,762128,6401.4
Angola9015,57515,57515,57515,575696
Antigua and Barbuda48758758758754
Argentina157,861106,025529,813809,162230,361(11,187)301,688318,37094.8
Armenia15,84015,84015,84015,840
Australia198,83559130,5915,46189,250(18,412)66,634470,54514.2
Austria195,162375,322376,06012,733103,175(435)103,548179,04557.8
Azerbaijan27,45627,45627,45627,456
Bahamas, The3077,2327,1257,4457,125(623)11210,2301.1
Bahrain18,0561118,47575010,4426,200168.4
Bangladesh22,09651,2508,10227,03941,986(1,784)48,51347,120103.0
Barbados8604,8506,0007,4506,001(478)6828,0398.5
Belarus65,79965,79965,79965,799
Belgium401,47283,925110,29912,505255,475(8,182)123,946485,24625.5
Belize931,000731,00011176
Benin2134,1493,5003,5003,500(575)2879,4093.1
Bhutan31250050051950020351
Bolivia1,7068951,3501,802(1,619)53026,7032.0
Bosnia and Herzegovina120,481
Botswana24,6206343,6251,25422,8824,359525.0
Brazil3,216267,038177,375214,571279,905(21,844)5,700358,6701.6
Bulgaria8,20038,72526,06366,3612806,907
Burkina Faso5,6013,1503,1503,3623,150(236)5,5769,40959.3
Burundi1,59771(760)90713,6976.6
Cambodia15,417
Cameroon36956,32610,60011,11955,865(1,324)2524,4630.1
Canada1,113,202253,325288,32510,032344,82517,597761,006779,29097.7
Cape Verde28675625625625(37)416206.6
Central African Republic1714,0792,7022,8263,784(566)249,3250.3
Chad2292,8882,6752,8172,675(578)79,4090.1
Chile1,68733,84045,30069,19742,237(7,373)9,814121,9248.0
China408,78472,825192,82511,4089,594309,786236,800130.8
Colombia114,18172,00029,92525541,775(638)114,098114,27199.8
Comoros585802500(41)9571613.3
Congo2625,6325,1505,2995,431(596)179,7190.2
Costa Rica1,87012,3251,37912,964(1,408)1,20223,7265.1
Côte d’Ivoire5,28234,66218,17518,93433,954(2,217)4,53137,82812.0
Croatia120,99120,37522,48220,742(1,246)1,10944,2052.5
Cyprus2197,9556627,575(1.174)8619,4380.4
Czechoslovakia280,00164,25095,02465,592117,9633,144
Czech Republic221,42150,00070,66016,70530425,681
Denmark156,028104,73166,29711,02689,725(2,135)113,627178,86463.5
Djibouti17635(63)1481,17812.6
Dominica130761514506842(35)75921.0
Dominican Republic58814,55711,67516,62516,168(1,926)2,00231,5856.3
Ecuador6,95434,68853039,033(1,733)1,40732,9294.3
Egypt50,00267,8424,02157964,405(5,620)44,376135,92432.6
El Salvador4139,1509,15010,2939,167(1,540)24,985
Equatorial Guinea5,5256,67511,7151,4821,475(26)4655,8128.0
Estonia7,0377,03723,80311,24617412,731
Ethiopia2207,4251396,925(656)20411,1601.8
Fiii9,3522253,6501166,0446,95886.8
Finland194,32351,7708,63471,72550379,967142,69056.0
France928,69679,575183,00048,702732,950(18,817)122,2061,079,87011.3
Gabon18940,3729,3009,62140,052(793)3714,0910.3
Gambia, The2721,55048619541(268)5465,12110.7
Georgia26,04826,04826,04826,048
Germany1,350,338318,675442,722115,592709,9042,725634,7041,210,76052.4
Ghana8,36372,0962,14741973,253(3,633)1,84462,9832.9
Greece1,23648,5254,10946,925(6,381)563103,5440.5
Grenada625625683625(58)930
Guatemala44911,45014,20713,758(1,565)10,78327,67839.0
Guinea8,5285,2006,5525,2345,207(571)6,63217,60437.7
Guinea-Bissau22789750780750(75)161,2121.3
Guyana7775,8674,7978,0997,990(884)1,07214,5307.4
Haiti13,697
Honduras1,04211,8116,8008,35811,836(1,160)1,41519,0577.4
Hungary840128,8052,574119,29945713,377
Iceland3677,0302106,425(988)19416,4091.2
India116,397135,000231,000548,489453,912(39,029)75,945681,17011.1
Indonesia5,859126,5757,176123,152(14,389)2,069238,9560.9
Iran, Islamic Republic of40,552114,00035,000104,937104,625(10,342)109,521244,05644.9
Iraq68,464
Ireland172,74245,0005,48845,4004,28692,11587,263105.6
Israel3,13463,90054,90063,62965,248(6,323)4,193106,3603.9
Italy638,06637,507153,13471,209420,400(8,952)164,296702,40023.4
Jamaica3,99613,85020,85046,20335,835(2,414)4,95140,61312.2
Japan1,805,439404,288476,917160,2671,004,55048,538937,065891,690105.1
Jordan3,59616,2504,4156,99417,620(959)3,84516,88722.8
Kazakhstan58,08058,08058,08058,080
Kenya84176,04514,96514,76773,920(2,181)58836,9901.6
Kiribati63753753753756
Korea23,38784,20012,69584,200(2,831)33,25072,91145.6
Kuwait131,43310,0004,82189,9756,49742,77626,744159.9
Kyrgyzstan15,13615,13615,13615,136
Lao People’s Democratic Republic1793,3502,5422,4502,450(545)4429,4094.7
Latvia31,38527,22646,86422,21430029,109
Lebanon8,5828862859,7534,393222.0
Lesotho6352,200222,200(197)4603,73912.3
Liberia21,007
Libya330,57713,15775,47516,859285,11858,771485.1
Lithuania24,28834,28848,71524,8651413,864
Luxembourg20,76250114,625916,72916,95539.7
Macedonia, former Yugoslav Repubic of1340(237)1048,3791.2
Madagascar3887,7556,0006,8777,312(1,182)52619,2702.7
Malawi1,76015,7153,4253,50215,843(606)1,10310,97510.1
Malaysia147,0627,39070,525(105)83,822139,04860.3
Maldives188756875(15)102823.2
Mali6116,2234,5254,7505,543(959)55715,9123.5
Malta65,334730,0009835,6002,98433,70711,288298.6
Marshall Islands591591591591
Mauritania1584,1503,4833,4613,582(594)1109,7191.1
Mauritius22,2463,000464,92532320,69015,744131.4
Mexico470,600327,60078,169541,3181,145336,194290,020115.9
Moldova21,12021,12034,62021,18813,433
Mongolia293,0253,0254,1173,9422206
Morocco103,9586,53180556,35128642,16785,68949.2
Mozambique275,7505,7505,7505,750229
Myanmar86813,77511,97512,59811,975(2,676)61543,4741.4
Namibia107,4007,4007,4007,400111
Nepal1313403,8443,684(496)1358,1051.7
Netherlands563,137410,392439,97823,102147,425(1,094)408,134530,34077.0
New Zealand93051,8754,39147,125(8,688)1,382141,3221.0
Nicaragua7527,2916,9758,8348,200(1,192)51019,4832.6
Niger4484,5493,8503,9654,240(562)3109,4093.3
Nigeria2,963110,125108,025114,766108,025(9,672)2,131157,1551.4
Norway357,06049,097187,40318,700101,4007,727143,780167,77085.7
Oman16,0091,38214,0754953,8116,26260.9
Pakistan10,62575,725241,865252,65977,388(10,354)9,402169,9895.5
Panama1,87126,3651,94026,815(1,481)1,88126,3227.1
Papua New Guinea1,0609,8317,3508,14110,367(550)7659,3008.2
Paraguay59,6243842,90362,91113,697459.3
Peru1,58340,96233,800253,555246,666(5,632)10,00191,31911.0
Philippines3,65986,470216,600248,044112,946(6,722)1,904116,5951.6
Poland4,615104,12511,074120,177572209
Portugal70,7289,40545,25082235,70453,32067.0
Qatar34,31590518,9001,17217,49212,822136.4
Romania9783,074102,675283,883258,812(4,329)1,23875,9501.6
Russia1,022,8271,727,7271,738,8341,023,17612610,884
Rwanda6,6281263,925(487)2,34213,69717.1
St. Kitts and Nevis500500500500
St. Lucia1,283875875875875341,318742177.6
St. Vincent106003500(18)9435426.9
San Marino2,3512,351
São Tomé and Príncipe18427378379375(38)346205.3
Saudi Arabia69,120190,000113,148413,446392,000(4,885)162,533195,52783.1
Senegal1,24114,9489,3808,58210,460(1,474)3,45724,46214.1
Seychelles324(24)124063.0
Sierra Leone6,2431,4582,8013,349(1,414)2,82217,45516.2
Singapore83,14527,3702,92466,3003,92351,06316,475309.9
Slovak Republic29,3523,0676,9471335,605
Slovenia113,2291,22713,099(719)64025,4312.5
Solomon Islands64625625635625(37)376545.7
Somalia13,697
South Africa4,564118,625112,425118,289112,425(13,558)3,071220,3601.4
Spain328,59955,911115,91133,900162,350319140,468298,80547.0
Sri Lanka42824,0253,95322,987(4,305)1,11470,8681.6
Sudan2,059(2,059)52,192
Suriname3478(481)7,750
Swaziland8,68592,9501105,8546,43291.0
Sweden260,37325,163126,06614,884137,425(2,566)34,363246,52513.9
Switzerland840,036164,2366,202578,500630104,132
Syrian Arab Republic895,2844,7611,656(2,261)736,564
Tanzania5789,9751,78610,032(1,904)40331,3721.3
Thailand5,90247,2248,49946,825(4,518)10,28284,65212.1
Togo6865,3743,9754,0164,955(647)50010,9754.5
Tonga7602943844395
Trinidad and Tobago98142,67519,17528,45446,397(2,774)3,76546,2318.1
Tunisia16,03325,46317,28527,91846,512(1,411)4,20634,24312.3
Turkey21656,47053,22558,13953,225(6,924)1,451112,3071.3
Turkmenistan11,26411,26411,26411,264
Uganda45240,95520,6968,69524,789(1,569)3,04829,39610.4
Ukraine234,030234,030234,030234,030
United Arab Emirates96,57050347,3753,15152,84938,737136.4
United Kingdom950,641845,3251,152,57731,929305,411(68,288)301,6171,913,07015.8
United States7,979,654845,227845,227275,5322,152,125182,7406,285,8024,899,530128.3
Uruguay5,19716,5752,01519,576(2,939)1,27249,9772.5
Uzbekistan46,81646,81646,81646,816
Vanuatu615275428754097
Venezuela145,898394,95045,014304,970(12,691)268,201316,89084.6
Viet Nam5,911952(4,959)47,658
Western Samoa2,5033680781,9041,142166.7
Yemen, Republic of13,46621,19132,26514,00014,000(1,197)1,19428,7434.2
Yugoslavia34434,8008,2508,291(5,202)
Yugoslavia, Federal Republic of (Serbia/Montenegro)156,665
Zaïre10,7385,580(5,158)86,309
Zambia5,3941,5087047,54950,262(4,120)68,298
Zimbabwe1,51022,70528,87530,74523,616(594)1,87510,20018.4
Total Participants20,736,87010,594,07310,584,1337,905,05415.024,129(122,463)13,505,27221,433,33063.0
PRESCRIBED HOLDERS
Arab Monetary Fund9,67270,89245,5131,43036,481
Bank of Central African States3,32466,65969,9834141
Bank for International Settlements32,60460,34590,5231,6414,066
East African Development Bank1348142
Eastern Caribbean Central Bank1,6911071,798
International Bank for Reconstruction and Development2,7731201752,828
Islamic Development Bank1,9311222,053
Nordic Investment Bank35923382
Swiss National Bank1,6141,69682
Total Prescribed Holders54,101197,895207,8353,62847,789
GENERAL RESOURCES ACCOUNT680,33815,024,1297,905,054130,7167,930,129
Total21,471,30925,816,09718,697,0227,905,05415,024,12911,88121,483,19621,433,330

The assets and liabilities of the former Socialist Federal Republic of Yugoslavia were assumed by five successor states. As of April 30, 1993, the Republic of Bosnia and Herzegovina and the Federal Republic of Yugoslavia (Serbia/Montenegro) had not completed arrangements for succession to membership in the Fund.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

The assets and liabilities of the former Socialist Federal Republic of Yugoslavia were assumed by five successor states. As of April 30, 1993, the Republic of Bosnia and Herzegovina and the Federal Republic of Yugoslavia (Serbia/Montenegro) had not completed arrangements for succession to membership in the Fund.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

Table II.14Holdings of SDRs by All Participants and by Groups of Countries as Percent of Their Cumulative Allocations of SDRs and of Their Non-Gold Reserves, Financial Years Ended April 30, 1970–93
Developing Countries
Net debtor countries
All

Participants1
Industrial

Countries
All

developing

countries
Net

creditor

countries
All net

debtor

countries
With recent

debt-servicing

problems2
Without recent

debt-servicing

problems2
Holdings of SDRs as percent of cumulative allocations
197093.8101.473.5100.072.985.653.2
197192.3103.363.22.864.774.549.6
197290.2100.064.434.565.264.067.0
197393.4105.760.855.460.959.663.0
197494.6106.264.359.564.461.568.8
197594.5106.563.172.562.864.760.0
197695.1108.459.899.158.860.955.7
197791.7105.754.9106.353.658.146.7
197885.395.658.1117.656.662.148.1
197990.397.074.5112.371.572.769.8
198091.996.881.0148.375.672.579.7
198174.681.060.8139.653.556.250.0
198274.681.959.1140.551.547.856.4
198379.995.147.4207.932.423.044.7
198469.980.447.3183.934.623.349.4
198578.595.242.8182.229.821.740.4
198687.3105.349.0192.535.627.546.3
198790.8110.049.9195.436.424.252.1
198896.3115.954.4202.840.633.749.6
198993.1116.343.5181.630.719.944.7
199097.2121.944.4205.329.414.848.4
199196.9120.745.9166.234.628.143.1
199296.8121.244.6123.337.330.945.4
199363.073.839.9111.133.333.832.7
Holdings of SDRs as percent of non-gold reserves
19707.49.04.30.75.06.83.1
19718.99.96.17.710.15.0
19728.99.37.20.49.611.18.0
19737.88.75.00.56.47.25.5
19747.49.23.60.44.64.74.3
19756.08.92.40.23.93.84.1
19765.48.32.00.23.33.53.0
19774.47.41.40.22.32.71.8
19783.65.31.40.22.12.51.6
19794.65.82.91.13.64.03.1
19805.67.13.51.54.44.64.2
19814.86.22.91.83.54.12.9
19825.36.93.01.63.74.53.1
19835.37.22.32.22.32.52.2
19844.25.62.01.92.12.12.0
19854.46.31.61.71.61.61.7
19865.06.72.01.82.22.32.1
19874.75.72.01.42.42.42.4
19884.45.12.01.42.53.32.1
19893.94.71.51.21.72.31.5
19903.84.61.51.51.41.61.4
19913.44.31.31.21.31.81.1
19923.24.41.00.81.11.50.9
19932.12.80.90.80.91.50.6

Consists of member countries that are participants in the SDR Department. At the end of financial year 1993, of the total SDRs allocated to participants in the SDR Department (SDR 21.4 billion), SDR 8.4 billion was not held by participants but instead by the Fund and prescribed holders.

Countries with recent debt-servicing problems are those that have incurred external payments arrears or rescheduled their debts in the period since 1986.

Consists of member countries that are participants in the SDR Department. At the end of financial year 1993, of the total SDRs allocated to participants in the SDR Department (SDR 21.4 billion), SDR 8.4 billion was not held by participants but instead by the Fund and prescribed holders.

Countries with recent debt-servicing problems are those that have incurred external payments arrears or rescheduled their debts in the period since 1986.

Table II.15Members’ Quotas, April 30, 1992 and April 30, 19931(In millions of SDRs)
MemberQuota on

April 30, 1992
Quota on

April 30, 1993
Effective

Date of

Payment
Afghanistan,
Islamic State of86.70120.403/01/93
Albania25.0035.3011/30/92
Algeria623.10914.4011/30/92
Angola145.00207.3011/30/92
Antigua and Barbuda5.008.502/26/93
Argentina1,113.001,537.1011/30/92
Armenia67.5012/30/92
Australia1,619.202,333.2012/03/92
Austria775.601,188.3012/03/92
Azerbaijan117.002/26/93
Bahamas, The66.4094.9012/02/92
Bahrain48.9082.802/22/93
Bangladesh287.50392.5012/11/92
Barbados34.1048.9012/01/92
Belarus280.401/25/93
Belgium2,080.403,102.3011/23/92
Belize9.5013.5011/24/92
Benin31.3045.3012/01/92
Bhutan2.504.5011/30/92
Bolivia90.70126.2012/04/92
Botswana22.1036.6011/24/92
Brazil1,461.302,170.8011/30/92
Bulgaria310.00464.9011/24/92
Burkina Faso31.6044.2012/01/92
Burundi42.7057.2011/30/92
Cambodia225.0025.00
Cameroon92.70135.1011/30/92
Canada2,941.004,320.3012/11/92
Cape Verde4.507.0011/30/92
Central African
Republic30.4041.2011/30/92
Chad30.6041.3011/30/92
Chile440.50621.7012/03/92
China2,390.903,385.2012/09/92
Colombia394.20561.3011/23/92
Comoros4.506.5011/24/92
Congo37.3057.9011/30/92
Costa Rica84.10119.0011/24/92
Côte d’Ivoire165.50238.2012/01/92
Croatia261.603/04/93
Cyprus69.70100.0011/24/92
Czech Republic3589.601/01/93
Czechoslovakia3590.00
Denmark711.001,069.9011/24/92
Djibouti8.0011.5012/03/92
Dominica4.006.0011/30/92
Dominican Republic112.10158.8011/30/92
Ecuador150.70219.2011/24/92
Egypt463.40678.4011/24/92
El Salvador89.00125.6011/30/92
Equatorial Guinea18.4024.3011/30/92
Estonia46.5011/30/92
Ethiopia70.6098.3011/24/92
Fiji36.5051.1011/24/92
Finland574.90861.8011/23/92
France4,482.807,414.6011/23/92
Gabon73.10110.3011/30/92
Gambia, The17.1022.9012/10/92
Georgia111.0012/09/92
Germany5,403.708,241.5012/11/92
Ghana204.50274.0011/24/92
Greece399.90587.6011/25/92
Grenada6.008.5012/01/92
Guatemala108.00153.8011/19/92
Guinea57.9078.7012/01/92
Guinea-Bissau7.5010.5012/01/92
Guyana49.2067.2012/01/92
Haiti444.1044.10
Honduras67.8095.0012/01/92
Hungary530.70754.8011/24/92
Iceland59.6085.3011/24/92
India2,207.703,055.5012/09/92
Indonesia1,009.701,497.6011/28/92
Iran, Islamic
Republic of660.001,078.5011/24/92
Iraq4504.00504.00
Ireland343.40525.0011/23/92
Israel446.60666.2011/24/92
Italy2,909.104,590.7011/23/92
Jamaica145.50200.9012/01/92
Japan4,223.308,241.5012/03/92
Jordan73.90121.7011/24/92
Kazakhstan247.5011/20/92
Kenya142.00199.4012/01/92
Kiribati2.504.0012/22/92
Korea462.80799.6012/02/92
Kuwait635.30995.201/25/93
Kyrgyzstan64.5012/11/92
Lao People’s
Democratic Republic29.3039.1012/01/92
Latvia91.5012/01/92
Lebanon578.7078.70
Lesotho15.1023.9011/24/92
Liberia471.3071.30
Libya515.70817.6012/13/92
Lithuania69.00103.5012/01/92
Luxembourg77.00135.5011/23/92
Macedonia, former
Yugoslav Republic of33.50
Madagascar66.4090.4012/01/92
Malawi37.2050.9012/01/92
Malaysia550.60832.7011/23/92
Maldives2.005.5011/24/92
Mali50.8068.9012/01/92
Malta45.1067.5011/24/92
Marshall Islands2.5012/11/92
Mauritania33.9047.5011/19/92
Mauritius53.6073.3011/24/92
Mexico1,165.501,753.3011/25/92
Moldova90.0011/20/92
Mongolia25.0037.1012/09/92
Morocco306.60427.7012/11/92
Mozambique61.0084.0011/19/92
Myanmar137.00184.9012/02/92
Namibia70.0099.6012/02/92
Nepal37.3052.0012/04/92
Netherlands2,264.803,444.2012/03/92
New Zealand461.60650.1012/03/92
Nicaragua68.2096.1012/02/92
Niger33.7048.3012/01/92
Nigeria849.501,281.6012/02/92
Norway699.001,104.6012/03/92
Oman63.10119.4011/24/92
Pakistan546.30758.2011/19/92
Panama102.20149.6011/24/92
Papua New Guinea65.9095.3012/08/92
Paraguay48.4072.1012/04/92
Peru330.90466.103/18/93
Philippines440.40633.4011/30/92
Poland680.00988.5011/23/92
Portugal376.60557.6011/23/92
Qatar114.90190.5011/24/92
Romania523.40754.1012/02/92
Russia4,313.1011/25/92
Rwanda43.8059.5011/24/92
St. Kitts and Nevis4.506.5012/02/92
St. Lucia7.5011.0012/02/92
St. Vincent4.006.0012/11/92
San Marino10.003/15/93
Sao Tome and Principe4.005.5012/02/92
Saudi Arabia3,202.405,130.601/19/93
Senegal85.10118.9012/01/92
Seychelles3.006.0012/04/92
Sierra Leone457.9057.90
Singapore92.40357.6012/03/92
Slovak Republic3257.401/01/93
Slovenia150.503/08/93
Solomon Islands5.007.5012/02/92
Somalia444.2044.20
South Africa915.701,365.4012/07/92
Spain1,286.001,935.4012/09/92
Sri Lanka223.10303.6011/24/92
Sudan4169.70169.70
Suriname549.3049.30
Swaziland24.7036.5011/24/92
Sweden1,064.301,614.0011/23/92
Switzerland2,470.4011/23/92
Syrian Arab Republic139.10139.10
Tajikistan540.00
Tanzania107.00146.9011/24/92
Thailand386.60573.9012/11/92
Togo38.4054.3012/01/92
Tonga3.255.0011/24/92
Trinidad and Tobago170.10246.8012/02/92
Tunisia138.20206.0012/02/92
Turkey429.10642.0012/09/92
Turkmenistan48.001/08/93
Uganda99.60133.9011/19/92
Ukraine997.3012/03/92
United Arab Emirates202.60392.1011/23/92
United Kingdom6,194.007,414.6011/23/92
United States17,918.3026,526.8012/11/92
Uruguay163.80225.3011/16/92
Uzbekistan199.504/16/93
Vanuatu9.0012.502/19/93
Venezuela1,371.501,951.3011/24/92
Viet Nam4176.80176.80
Western Samoa6.008.5011/27/92
Yemen120.50176.5012/02/92
Yugoslavia6613.00
Zaïre4291.00291.00
Zambia4270.30270.30
Zimbabwe191.00261.3012/02/92
Total91,221.50144,606.20

Board of Governors Resolution No. 45-2, Increases in Quotas of Fund Members—Ninth General Review, adopted June 28, 1990.

Cambodia did not participate in the Ninth General Review.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Member has overdue financial obligations to the General Resources Account and consequently cannot consent to its quota increase under Board of Governors Resolution No. 45-2.

Member has not completed payment of its quota increase under the Ninth General Review.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

Board of Governors Resolution No. 45-2, Increases in Quotas of Fund Members—Ninth General Review, adopted June 28, 1990.

Cambodia did not participate in the Ninth General Review.

Czechoslovakia was replaced by the Czech Republic and the Slovak Republic on January 1, 1993.

Member has overdue financial obligations to the General Resources Account and consequently cannot consent to its quota increase under Board of Governors Resolution No. 45-2.

Member has not completed payment of its quota increase under the Ninth General Review.

Former Socialist Federal Republic of Yugoslavia; Yugoslavia ceased to be a member of the Fund effective December 14, 1992.

Table II.16Key IMF Rates, Financial Year Ended April 30, 1993(In percent)
Period

Beginning
SDR Interest Rate

and Unadjusted Rate

of Remuneration1
Basic Rate of

Charge on Ordinary

Resources1
1992
May 46.436.29
May 116.476.33
May 186.426.29
May 256.446.30
June 16.476.33
June 86.466.32
June 156.476.33
June 226.456.31
June 296.466.32
July 66.276.14
July 136.316.18
July 206.356.22
July 276.346.21
August 36.326.19
August 106.316.18
August 176.266.13
August 246.296.16
August 316.396.26
September 76.266.13
September 146.256.12
September 215.915.79
September 285.875.75
October 55.805.68
October 125.845.72
October 195.845.72
October 265.485.36
November 25.515.39
November 95.485.36
November 165.475.36
November 235.515.39
November 305.605.48
December 75.635.51
December 145.675.55
December 215.705.58
December 285.655.53
1993
January 45.545.42
January 115.565.44
January 185.525.40
January 255.475.36
February 15.435.32
February 85.235.12
February 155.225.11
February 225.275.16
March 15.285.17
March 85.205.09
March 155.064.95
March 225.125.01
March 295.135.02
April 55.014.90
April 124.894.79
April 194.864.76
April 264.814.71

The rate of remuneration is adjusted downward and the basic rate of charge is adjusted upward to share the burden of protecting the Fund’s income from overdue charges and of contributing to the Fund’s precautionary balances. These adjustments are refundable when overdue charges are paid and when overdue obligations cease to be a problem.

The rate of remuneration is adjusted downward and the basic rate of charge is adjusted upward to share the burden of protecting the Fund’s income from overdue charges and of contributing to the Fund’s precautionary balances. These adjustments are refundable when overdue charges are paid and when overdue obligations cease to be a problem.

Table II.17Members That Have Accepted the Obligations of Article VIII, Sections 2, 3, and 4 of the Articles of Agreement
MemberEffective Date

of Acceptance
Antigua and BarbudaNovember 22, 1983
ArgentinaMay 14, 1968
AustraliaJuly 1, 1965
AustriaAugust 1, 1962
Bahamas, TheDecember 5, 1973
BahrainMarch 20, 1973
BelgiumFebruary 15, 1961
BelizeJune 14, 1983
BoliviaJune 5, 1967
CanadaMarch 25, 1952
ChileJuly 27, 1977
Costa RicaFebruary 1, 1965
CyprusJanuary 9, 1991
DenmarkMay 1, 1967
DjiboutiSeptember 19, 1980
DominicaDecember 13, 1979
Dominican RepublicAugust 1, 1953
EcuadorAugust 31, 1970
El SalvadorNovember 6, 1946
FijiAugust 4, 1972
FinlandSeptember 25, 1979
FranceFebruary 15, 1961
Gambia, TheJanuary 21, 1993
GermanyFebruary 15, 1961
GreeceJuly 7, 1992
GuatemalaJanuary 27, 1947
GuyanaDecember 27, 1966
HaitiDecember 22, 1953
HondurasJuly 1, 1950
IcelandSeptember 19, 1983
IndonesiaMay 7, 1988
IrelandFebruary 15, 1961
ItalyFebruary 15, 1961
JamaicaFebruary 22, 1963
JapanApril 1, 1964
KiribatiAugust 22, 1986
KoreaNovember 1, 1988
KuwaitApril 5, 1963
LuxembourgFebruary 15, 1961
Marshall IslandsJune 22, 1992
MalaysiaNovember 11, 1968
MexicoNovember 12, 1946
MoroccoJanuary 21, 1993
NetherlandsFebruary 15, 1961
New ZealandAugust 5, 1982
NicaraguaJuly 20, 1964
NorwayMay 11, 1967
OmanJune 19, 1974
PanamaNovember 26, 1946
Papua New GuineaDecember 4, 1975
PeruFebruary 15, 1961
PortugalSeptember 12, 1988
QatarJune 4, 1973
St. Kitts and NevisDecember 3, 1984
St. LuciaMay 30, 1980
St. Vincent and the GrenadinesAugust 24, 1981
San MarinoSeptember 23, 1992
Saudi ArabiaMarch 22, 1961
SeychellesJanuary 3, 1978
SingaporeNovember 9, 1968
Solomon IslandsJuly 24, 1979
South AfricaSeptember 15, 1973
SpainJuly 15, 1986
SurinameJune 29, 1978
SwazilandDecember 11, 1989
SwedenFebruary 15, 1961
SwitzerlandMay 29, 1992
ThailandMay 4, 1990
TongaMarch 22, 1991
TunisiaJanuary 6, 1993
TurkeyMarch 22, 1990
United Arab EmiratesFebruary 13, 1974
United KingdomFebruary 15, 1961
United StatesDecember 10, 1946
UruguayMay 2, 1980
VanuatuDecember 1, 1982
VenezuelaJuly 1, 1976
Table II.18Exchange Arrangements as of March 31, 1993
Pegged
Single currencyCurrency composite
U.S. dollarFrench francRussian ruble1OtherSDROther
AngolaBeninArmeniaBhutan (Indian rupee)Libyan ArabAlgeria
Antigua andBurkina FasoAzerbaijanJamahiriya7Austria
BarbudaCameroonBelarus4MyanmarBangladesh
ArgentinaCentralGeorgiaEstonia (deutsche mark)RwandaBotswana
Bahamas, The4African RepublicKazakhstan4SeychellesBurundi
BarbadosChad
KyrgyzstanKiribati1 (Australian dollar)Cape Verde
BelizeComorosMoldovaCyprus8
DjiboutiCongoFiji
DominicaCôte d’IvoireLesotho4 (South African rand)Hungary
EthiopiaEquatorialIceland10
GrenadaGuinea
GabonJordan
Iraq4Namibia1,4 (South African rand)Kenya4
LiberiaMaliKuwait
MarshallNigerMalawi
Islands1SenegalMalaysia9
Mongolia4Togo
Nicaragua4Swaziland (South African rand)Malta
Mauritania4
OmanMauritius
Panama1Morocco11
St. Kitts and NevisPapua
St. LuciaNew Guinea
St. Vincent and
the GrenadinesSolomon Islands
Tanzania4
Suriname4Thailand
Syrian ArabTonga
Republic4Vanuatu
Yemen4
Western Samoa Zimbabwe
Flexibility Limited Against

a Single Currency or

Group of Currencies
More Flexible
Adjusted according

to a set of

indicators
Other

managed

floating
Independently floating
Single

currency2
Cooperative

arrangements3
Bahrain5BelgiumChile4,6China4Afghanistan,Romania
Qatar5DenmarkColombiaEcuador4Islamic State of4Russia
Saudi Arabia5FranceMadagascarEgyptAlbaniaSierra Leone
United ArabGermanyGreeceAustraliaSouth
Emirates5IrelandGuineaBoliviaAfrica4
Brazil4Sudan4
LuxembourgGuinea-Bissau4
NetherlandsIndonesiaBulgariaSweden
PortugalIsrael9CanadaSwitzerland
SpainKoreaCosta RicaTrinidad and
Lao People’sDominican RepublicTobago
DemocraticEl SalvadorUganda4
RepublicFinlandUkraine
MaldivesGambia, TheUnited
MexicoGhanaKingdom
PakistanGuatemalaUnited
Poland4GuyanaStates
São Tomé andVenezuela
PríncipeHaitiZaïre
HondurasZambia4
SingaporeIndia
Somalia4Iran, Islamic
Sri LankaRepublic of
TunisiaItaly
Turkey
Jamaica
UruguayJapan
Viet NamLatvia
Lebanon
Lithuania
Mozambique4
New Zealand
Nepal
Nigeria4
Norway
Paraguay
Peru
Philippines

Country uses peg currency as legal tender.

In all countries listed in this column, the U.S. dollar was the currency against which exchange rates showed limited flexibility.

This category consists of countries participating in the exchange rate mechanism of the European Monetary System. In each case, the exchange rate is maintained within a margin of 2.25 percent around the bilateral central rates against other participating currencies, with the exception of Portugal and Spain, in which case the exchange rate is maintained within a margin of 6 percent.

Member maintains exchange arrangements involving more than one exchange market. The arrangement shown is that maintained in the major market.

Exchange rates are determined on the basis of a fixed relationship to the SDR, within margins of up to ± 7.25 percent. However, because of the maintenance of a relatively stable relationship with the U.S. dollar, these margins are not always observed.

The exchange rate is maintained within margins of ± 10 percent on either side of a weighted composite of the currencies of the main trading partners.

The exchange rate is maintained within margins of ± 13.5 percent.

The exchange rate, which is pegged to the ECU, is maintained within margins of ± 2.25 percent.

The exchange rate is maintained within margins of ± 5 percent.

The exchange rate is maintained within margins of ± 2.25 percent.

The exchange rate is maintained within margins of ± 3 percent.

Country uses peg currency as legal tender.

In all countries listed in this column, the U.S. dollar was the currency against which exchange rates showed limited flexibility.

This category consists of countries participating in the exchange rate mechanism of the European Monetary System. In each case, the exchange rate is maintained within a margin of 2.25 percent around the bilateral central rates against other participating currencies, with the exception of Portugal and Spain, in which case the exchange rate is maintained within a margin of 6 percent.

Member maintains exchange arrangements involving more than one exchange market. The arrangement shown is that maintained in the major market.

Exchange rates are determined on the basis of a fixed relationship to the SDR, within margins of up to ± 7.25 percent. However, because of the maintenance of a relatively stable relationship with the U.S. dollar, these margins are not always observed.

The exchange rate is maintained within margins of ± 10 percent on either side of a weighted composite of the currencies of the main trading partners.

The exchange rate is maintained within margins of ± 13.5 percent.

The exchange rate, which is pegged to the ECU, is maintained within margins of ± 2.25 percent.

The exchange rate is maintained within margins of ± 5 percent.

The exchange rate is maintained within margins of ± 2.25 percent.

The exchange rate is maintained within margins of ± 3 percent.

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