Front Matter

Front Matter

International Monetary Fund
Published Date:
July 1982
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International Standard Serial Number: ISSN 0251–6365

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The following symbols have been used throughout this paper:

  • … to indicate that data are not available;

  • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

  • – between years or months (e.g., 1979–81 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

  • / between years (e.g., 1980/81) to indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to roundings.

Prefatory Note

Background for this study was provided by informal discussions with some forty banks, monetary and bank supervisory authorities in ten countries, and the staff of the Bank for International Settlements, the European Community, and the Organization for Economic Cooperation and Development. These discussions took place in January, February, and March of 1982 in Amsterdam, Basle, Berlin, Bern, Brussels, Frankfurt, London, Luxembourg, New York, Ottawa, Paris, Tokyo, Toronto, Washington, and Zurich.

Fund staff members, other than the authors, who participated in these latter discussions included Richard K. Abrams, Hiroyuki Hino, and John P. Lipsky of the Exchange and Trade Relations Department and Jorge R. Marquez-Ruarte and Christian R.C. Saint-Etienne of the Western Hemisphere Department. Mr. Robert Ley, of the Fund’s Office in Europe, participated in the meetings in Paris. Research assistance was provided by Can T. Demir.

Similar studies have been prepared in recent years, and last year’s study was published as Occasional Paper No. 7 in August 1981. The present study was completed in May 1982 and reflects developments up to that time.

The paper has benefited from comments by staff in other departments of the Fund and by members of the Executive Board. However, opinions expressed are those of the authors and do not necessarily represent the views of other staff members or of Executive Directors.

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