Chapter

Appendices

Author(s):
International Monetary Fund
Published Date:
January 1993
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The Bank for International Settlements in International Banking and Financial Market Developments (February 1992) estimates that in September 1991, central bank deposits in the ECU market were about ECU 30 billion and that ECU 4 to 5 billion more was held in ECU securities.

In calculating the value of the gold holdings of the EMCF in terms of ECUs, the ECU swap price is set equal to the lower of two values: the average of the prices recorded daily at the two London fixings during the previous six calendar months, and the average price at the two price fixings on the penultimate working day of the period.

The quarterly swaps are arranged at the end of the first weeks of January, April, July, and October. Changes in the number of ECUs outstanding thus depend on the exchange rate and the gold price on these dates, whereas changes in the SDR value of ECU holdings are calculated at the SDR/ECU exchange rate at the end of each quarter.

See Selected Decisions, Seventeenth Issue, pages 15, 17–18.

See Item (a), above.

See Selected Decisions, Seventeenth Issue, pages 8–13.

Ibid., pages 13–14.

Ibid., page 22.

Ibid., pages 81–85.

Ibid., pages 86–87.

Ibid., pages 88–89.

Ibid., pages 106–32.

Ibid., page 144.

Ibid., pages 71–75.

Ibid., pages 81–85.

Ibid., pages 88–89.

Ibid., pages 106–32.

Ibid., pages 294–307.

Ibid., pages 206–207.

Ibid., pages 228–30

Ibid., pages 228–30.

Ibid., pages 154–59.

Ibid., pages 81–85.

Ibid., pages 254–56.

Ibid., pages 242–43.

Ibid., page 232.

Ibid., pages 242–43

Ibid., pages 254–56.

See item (b), above.

See Selected Decisions, Seventeenth Issue, pages 71–75.

Ibid., page 288.

Ibid., pages 266–72.

Ibid., pages 273–75.

Ibid., pages 48–49.

Ibid., page 50.

Ibid., pages 48–49.

Ibid., pages 26–48.

Ibid., pages 88–89.

Mr. Lewis T. Preston, President of the World Bank, Mr. Michel Camdessus, Managing Director of the International Monetary Fund, Mr. Ahmadu Abubakar, Minister of Finance of Nigeria and Chairman of the Group of Twenty-Four, and Mr. Peter Mountfield, Executive Secretary, participated in the meeting. Observers from a number of other international and regional organizations and from Switzerland also attended.

In the rest of this communiqué the phrase “developing countries” includes economies in transition.

Dr. Hausmann is the Minister of State and the Head of Cordiplan in Venezuela. Mr. Lewis Preston, President of the World Bank, Mr. Michel Camdessus, Managing Director of the International Monetary Fund, Mr. Mohammed Imady, Minister of Economy and Foreign Trade of Syria and Chairman of the Group of Twenty-Four, and Mr. Peter Mountfield, Executive Secretary, took part in the meeting. Observers from a number of international and regional organizations also attended.

For the purpose of this communiqué the phrase “developing countries” includes economies in transition.

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