Front Matter

Front Matter

International Monetary Fund
Published Date:
January 1980
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    Pamphlet Series

    No. 34

    Compensatory Financing Facility

    Louis M. Goreux


    Washington, D.C.


    International Standard Serial Number: ISSN 0538-8759

    Reprinted March 1986

    Library of Congrats Cataloging in Publication Data

    Goreux, Louis M 1927-

    Compensatory financing facility.

    (Pamphlet series—International Monetary Fund; no. 34)

    1. Balance of payments. 2. International Monetary Fund. I. Title. II. Series: International Monetary Fund. Pamphlet series—International Monetary Fund; no. 34.

    HG3882.G67 332.1′52 80-19960


    Prefatory Note

    The author, a Deputy Director of the African Department of the International Monetary Fund since May 1980, was closely associated with the administration of the compensatory financing facility for the previous five years when he was in charge of the Commodities Division in the Research Department. During that period, 113 drawings were made under the facility which was revised twice, first in December 1975 and later in August 1979.

    In preparing this pamphlet, the author has drawn upon his experience with the operation of the facility and he wishes to express his gratitude to others who have contributed, in particular to the staff of the Commodities Division. The opinions expressed in this pamphlet are, however, those of the author only; they should not be construed as representing the views of the Fund.

    August 1980

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