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Fund activity: New commitments; new members

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
June 1982
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Total new commitments by the Fund for balance of payments support to member countries under stand-by and extended arrangements amounted to nearly SDR 12.7 billion at the end of March 1982, of which SDR 3.8 billion has been disbursed. As shown in Table 2, total purchases from the Fund during the first quarter of 1982 were SDR 1.8 billion, of which the largest share consisted of reserve tranche purchases totaling SDR 592.4 million.

There were 22 stand-by arrangements in effect at the end of March, as well as 14 extended arrangements, all but 3 of which were under highly conditional facilities. The total gross amount approved under stand-by and extended arrangements as of the end of March was SDR 16.9 billion. There was an undrawn balance of SDR 12.2 billion under such arrangements on March 31, that may be drawn subject to phasing and to performance criteria in individual country programs.

New members

On February 25 Antigua and Barbuda became a member of the Fund with a quota of SDR 3.6 million and Belize joined on March 16 with a quota of SDR 7.2 million.

With the admission of the Hungarian People’s Republic on May 6, the Fund now comprises 146 member countries. The Hungarian quota, SDR 375 million, brings total members’ quotas to SDR 61,059,800,000.

Table 1New commitments and use of Fund resources(In billions of SDRs)
Calendar yearJanuary-March
19791980198119811982
1a. New commitments (net of cancellations)11.86.812.73.1
(Amount disbursed)(1.4)(2.6)(3.7)(0.9)0.12
Industrial countries
Developing countries1.86.812.73.1
1b. Purchases30.71.01.50.10.3
Industrial countries
Developing countries0.71.01.50.10.3
2. Trust Fund loans disbursed
Developing countries only0.51.30.40.4
Total (1 + 2)43.09.114.63.60 3
Source: IMF. Treasurer’s Department.… Indicates less than SDR 500,000.—indicates zero.
Table 2Summary of transactions, 1978–82(In millions of SDRs)
Calendar yearJanuary-March
197819791980198119811982
Total purchases3,744.31,842.83,752.77,081.71,505.71,826.2
Reserve tranche2,535.5147.1359.2310.4202.9592.4
Credit tranche421.0853.11,798.63,436.61,117.3419.8
(Of which, supplementary financing facility)(—)(205.4)(943.1)(1,468.9)(342.6)(300.7)
(Of which, enlarged access)(—)(—)(—)(305.5)(—)(10.0)
Compensatory financing577.7572.0980.41,242.519.4309.9
Extended facility174.0233.0614.52,092.2166.1504.1
(Of which, supplementary financing facility)(—)(101.5)(275.2)(570.7)(51.0)(108.8)
(Of which, enlarged access)(—)(—)(—)(480.6)(—)(150.0)
Buffer stock36.137.7
Total repurchases4,845.24,215.33,344.82,109.8592.4528.2
Trust Fund loans688.1526.61,256.0367.7367.7
Source: IMF, Treasurer’s Department.—Indicates zero.

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