Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1981
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Index

An asterisk (*) denotes a table; a dagger (†) denotes a chart; fn. denotes a footnote.

Abu Dhabi

  • Oil facility financing, 127*
  • Supplementary financing facility, lending for, 128*

Afghanistan

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Africa

  • Balance of payments, 18*
  • Debt, 34*
  • Output, 12*, 15
  • Prices, 12*, 16*
  • SDRs, 72
  • Trust Fund disbursements, 103*

Algeria

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Antigua

  • Application for Fund membership, 89

Argentina

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Articles of Agreement

  • Article III, 100
  • Article IV, 57, 62, 82, 107
  • Article V, 104
  • Article VIII, 62; members accepting obligations of, 107, 130*
  • Article XIV, 62, 107
  • Article XVII, 92
  • Second Amendment, 62, 82* (fn.)

Asia

  • Balance of payments, 18*
  • Debt, 34*
  • Economic activity and policies, 15
  • Output, 12*, 15
  • Prices, 12*, 15, 16*
  • SDRs, 72
  • Trust Fund disbursements, 103*

Australia

  • Balance of payments, 22, 24
  • Enlarged access policy, lending under, 92
  • Exchange rate, 24, 116*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131 *
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*

Austria

  • Enlarged access policy, lending under, 92
  • Exchange rate, 28, 116*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*
  • Supplementary financing facility, lending for, 128*

Bahamas

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Bahrain

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Balance of Payments

  • Adjustment, 2, 3, 15, 21, 33, 37, 39, 49, 53, 54-56, 58, 78, 79, 80, 84, 102
  • Current account balances, distribution of, 1, 16, 18*, 20*, 21, 24, 28, 29, 40, 49, 50*
  • Domestic economic policies, effect on, 2
  • Effect of: exchange rate changes on, 23, 49, 50-51, 57-58; inflation rate on, 28; oil price changes on, 23, 49
  • Financing, 1, 3, 24, 31†, 32*, 33, 37, 39, 47, 52, 53, 70, 79
  • Global pattern, 18, 20*, 36, 49
  • See also individual countries

Bangladesh

  • Exchange rate, 116*
  • Extended arrangement with Fund, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131 *
  • SDRs, 98*, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Bank for International Settlements (BIS), 18, 104; borrowing agreement with Fund, 78, 86, 92, 189-90; “other holder” of SDRs, 97

Barbados

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*

Barbuda

  • Application for Fund membership, 89

Belgium

  • Balance of payments, 24, 28
  • Economic activity and policies, 28
  • Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 28, 116*
  • General Arrangements to Borrow, 127*
  • Interest rates, 28
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131*
  • SDRs, 134*, 136*
  • Supplementary financing facility, lending for, 128*
  • Supplementary financing facility subsidy account, contribution to, 106

Benin

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*
  • Trust Fund disbursements, 104*

Bhutan

  • Application for Fund membership, 89

Board of Governors

  • Quota adjustments authorized, 89-90
  • Quota increase resolution adopted, 89
  • Vanuatu, membership resolution adopted, 89
  • See also Development Committeeand Interim Committee

Bolivia

  • Exchange rate, 116*
  • Purchases from Fund, 122*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Borrowed Resources Suspense Accounts, 92-93, 168-69

Botswana

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Brazil

  • Exchange rate, 116*
  • Oil facility subsidy account, contribution to, 102*
  • Oil price increase, effect of, 55
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Budget of Fund, 219

Buffer Stock Financing Facility, 85; charges, 129*; purchases by members, 82*, 83*, 85

Burma

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 99*, 134*, 136*
  • Trust Fund disbursements, 104*

Burundi

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*
  • Trust Fund disbursements, 104*

Cameroon

  • Exchange rate, 116*
  • Oil facility subsidy account, use of, 101
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 136*
  • Trust Fund disbursements, 104*

Canada

  • Balance of payments, 21, 22*, 23, 24, 49, 50, 51
  • Economic activity and policies, 4, l0†, 50*
  • Enlarged access policy, lending under, 92
  • Exchange rate, 24, 25†, 28, 42*, 43†, 45, 46†, 48†, 50, 116* •
  • General Arrangements to Borrow, 127*
  • GNP deflator, 8
  • Interest rates, 3†, 4, 27†, 43†, 44†, 45, 46†
  • International reserves, 48†
  • Monetary growth, 4, 5†, 45*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Oil production, 23
  • Output, 8*, 9, 10†, 51
  • Prices, 6†, 8, 23, 27†
  • Quota increase, 131 *
  • Ratio of official reserves to exports, 48†
  • SDRs, 98*, 99, 134*, 136*
  • Supplementary financing facility, lending for, 128*
  • Trade, 23

Cape Verde

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Capital Markets

  • Borrowing in, 14, 31, 34, 52, 55, 74, 75, 77, 78
  • Recycling, role in, 2, 40, 73

Central African Republic

  • Exchange rate, 116*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Chad

  • Exchange rate, 116*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 98*, 134*, 136*
  • Trust Fund disbursements, 104*

Chile

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 99*, 134*, 136*

China, People’s Republic of

  • Exchange rate, 116*
  • Output, 13, 14
  • Prices, 15
  • Purchases from Fund, 83, 122*
  • Quota adjustment, 78, 89
  • Quota increase, 131* SDRs, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 83, 120*
  • Trust Fund, 103, 104*, 146

Colombia

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Comoros

  • Exchange rate, 116*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131 *
  • SDRs, 99*, 134*, 136*

Compensatory Financing Facility

  • Charges, 129*
  • Purchases and repurchases by members, 79, 82*, 83
  • Compensatory Financing of Export Fluctuations, 84, 122*-123*
  • Compensatory Financing of Fluctuations in Cereal Import Costs
  • Establishment, 81, 84, 169-72
  • Members eligible for assistance, 84-85, 169-71
  • Purchases and repurchases by members, 84-85, 169-72
  • Terms and conditions, 84-85

Conditionality, 3, 78, 79

Congo

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 136*
  • Trust Fund disbursements, 104*

Consultations with Fund Members, 39, 62, 82, 107

Costa Rica

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*

Cyprus

  • Exchange rate, 116*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 134*, 136*
  • Stand-by arrangement with Fund, 83, 120*

Denmark

  • Balance of payments, 24, 28
  • Economic activity and policies, 28
  • Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 28, 116*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Developing Countries

  • Balance of payments, 37, 39
  • Economic activity and policies, 39, 54, 60
  • Effect of interest rates in industrial countries on, 52-53
  • Exchange arrangements, 53-54
  • Exchange rates, 39, 42*, 53-54, 60
  • Extended arrangements with Fund, 84
  • Gold sales by Fund: distribution of profits to, 79
  • Output, 14, 39, 56
  • Purchases from Fund, 82, 83
  • Trade, 60-61
  • See also individual countries

Non-Oil Developing Countries

  • Balance of payments, 1, 14, 15, 16, 17, 18*, 20*, 21, 29, 30, 31, 32-33, 34, 38, 39, 40, 52, 53, 55, 73
  • Borrowing from private banks, 14, 18, 21, 31, 32-33, 34, 52, 53, 73, 74
  • Capital flows, 14, 29, 31, 32*, 33, 38, 53, 56
  • Capital markets, access to, 75
  • Debt and debt service payments, 14, 21, 30, 31, 32, 33-36, 38, 52, 53, 64, 74
  • Economic activity and policies, 2, 14, 15, 31, 34, 52, 55, 56
  • Effect of: economic slowdown in industrial countries on, 2, 14, 21, 30, 38, 39, 52, 55-56; interest rates in industrial countries on, 52-53, 74; oil price increases on, 30, 55-56, 74
  • Energy problems, economic impact of, 37-38, 39, 55
  • Exchange arrangements, 54*
  • Exchange rates, 40, 52, 55, 56
  • Foreign exchange holdings, 65*
  • Gold holdings, 65*
  • International banking, 19*
  • International investments, 33
  • International reserves, 18, 32-33, 34, 53, 64, 65*, 75
  • Monetary growth, 14
  • Net oil importers: borrowing from private lenders, 31†; capital flows, 31†; international reserves, 31†;official financing, use of, 31†
  • Official financing, use of, 2, 29, 31, 32*, 33, 34, 39, 52, 55
  • Output, 12*, 13, 14, 15, 31, 38, 39, 55, 56
  • Prices, 12*, 13, 15, 16*, 34, 53, 55
  • Purchases from Fund, 79
  • Ratio of: debt to exports, 34, 35†, 74; debt to output, 34, 35†, 74; non-gold reserves to imports, 75, 76†
  • Reserve positions in Fund, 65*, 72
  • SDRs, 65*, 70
  • Subgroups, 12*, 13-15, 16*, 20*, 29-36, 30*, 31†, 34*, 35†, 38-39
  • Trade, 1, 2, 14, 15, 16, 17*, 30, 31, 32, 34, 38, 39, 52, 55, 56, 64
  • Wages, 38

Oil Exporting Countries

  • Balance of payments, 18*, 20*, 28, 29, 56-57, 73, 75
  • Capital flows, 2, 29, 53, 73-74
  • Claims on Fund and World Bank, 29
  • Deposits in private banks, 2, 18, 29, 53, 73
  • Development assistance, 29
  • Economic activity and policies, 12, 13, 28, 29, 37-38, 53, 56-57, 61
  • Effect of interest rates in industrial countries on, 53
  • Exchange arrangements, 54*
  • Exchange rates, 40, 53, 56-57, 61
  • Foreign exchange holdings, 65*
  • Gold holdings, 65*
  • International banking, 19*
  • International reserves, 64, 65*, 75
  • Investments of, 2, 13, 18, 29, 53, 56-57
  • Oil: pricing, 12, 13, 28, 56-57, 73;production, 56; revenues, 13, 18, 28, 56, 73
  • Output, 12, 13, 28, 53
  • Prices, 12, 13, 16*, 56-57
  • Ratio of non-gold reserves to imports, 75, 76†
  • Recycling, 18
  • Reserve positions in Fund, 65*, 72
  • SDRs, 65*, 70
  • Trade, 11, 13, 16, 17, 28, 29
  • See also Organization of Petroleum Exporting Countries

Development Committee

  • Announcement, 206
  • Communiqués, 204-209

Djibouti

  • Article VIII obligations, acceptance of, 107
  • Exchange rate, 116*
  • Quota increase, 131 *
  • SDRs, 98*, 134*, 136*

Dominica

  • Exchange rate, 116*
  • Extended arrangement with Fund, 86*, 126*
  • Purchases from Fund, 122*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 136*
  • Supplementary financing facility, use of, 86*

Dominican Republic

  • Exchange rate, 116*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*

Ecuador

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*

Egypt

  • Exchange rate, 116*
  • Extended arrangement with Fund, 126*
  • Oil facility subsidy account, use of, 101
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*
  • Trust Fund disbursements, 104*

El Salvador

  • Exchange rate, 116*
  • Purchases from Fund, 122*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 83, 120*
  • Trust Fund disbursements, 104*

Enlarged Access Policy, 85-88

  • Borrowing by Fund, 78, 81, 85-86, 88-89, 90, 91-92, 172-89, 189-90, 191-96
  • Charges, 93, 129*
  • Establishment, 39, 78, 79, 85-86, 153-55
  • Extended arrangement, form of, 158-61
  • Extended arrangements, use with, 79, 86-87
  • Interest rate payable by Fund, 91
  • Maximum access, 2, 78, 80, 87
  • Members eligible for assistance, 85-87, 153-55
  • Purchases by members, 86
  • Repayments by Fund, 91
  • Repurchases by members, 87
  • Stand-by arrangement, form of, 156-58
  • Stand-by arrangements, use with, 79, 86-87
  • Terms and conditions, 86-88
  • Transferability of claims, 91
  • See also individual countries

Equatorial Guinea

  • Exchange rate, 116*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 136*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Ethiopia

  • Exchange rate, 116*
  • Quota increase, 131*
  • SDRs, 134*, 136*
  • Trust Fund disbursements, 104*

Euromarkets

  • Eurocurrency deposits, 72, 73*
  • Group of Ten agreement of 1971, 72
  • Recycling, role in, 64, 72
  • SDR deposit market, 72

Europe

  • Balance of payments, 18*, 24
  • Debt, 34*
  • Economic activity and policies, 6, 15, 19, 26
  • Exchange rates, 6, 20, 24, 26, 28
  • Interest rates, 19, 26, 28
  • Output, 8*, 9, 12*, 15
  • Prices, 8*, 12*, 15, 16*, 20
  • SDRs, 72
  • Trade, 21
  • Trust Fund disbursements, 103*
  • Wages, 20

European Currency Unit (ECU), 40, 41, 64-66, 68, 72, 73*

European Monetary System (EMS)

  • Dollar deposits by members, 65-66, 68, 72
  • Establishment, 45, 47, 66
  • ECU holdings, 68
  • European Monetary Cooperation Fund, 64, 65, 66, 68, 72
  • Exchange rates, 24, 28, 41, 45, 59, 116*-119*
  • Gold deposits by members, 64, 66, 68, 72
  • Gold holdings of members, 65* (fn.)
  • Interest rates, 45
  • Intervention policy, 45
  • Participants, 119* (fn.)
  • Policy coordination within, 45

Exchange Markets

  • Conditions in, 1, 19, 24, 26, 28, 41, 59, 78
  • Forward markets, 49, 54, 72
  • Official intervention in, 24, 41, 47, 57, 58-59, 68, 72 (fn.), 77

Exchange Rates

  • Arrangements, 40, 53-54, 62; of member countries, 54*, 63*; as of June 30, 1981, 116*-119*
  • Balance of payments, effect on, 41, 49, 50, 51
  • Effect of: balance of payments on, 24, 41, 42, 45, 51, 52, 57; capital movements on, 59; domestic economic policies on, 26; exchange and trade restrictions on, 58, 59; inflation rates on, 24, 26, 42; interest rates on, 24, 26, 42; price changes on, 52
  • Effective rates, 1, 24, 25†, 28, 41, 42*, 49, 50*, 51, 53, 55, 57, 61
  • European Monetary System, 41, 116*-119*
  • Inflationary expectations, effect on, 42
  • Investment, effect on, 56, 57
  • Monthly changes in, January 1978-June 1981, 48†
  • Multilateral exchange rate model (MERM), 25† (fn.), 48† (fn.)
  • Multiple currency practices, Fund policy, 161-62
  • Policies, 19, 39, 40, 41, 59-61, 62
  • Prices, effect on, 1, 50, 54, 57
  • SDR as currency peg, 98, 116*-119*
  • Trade, effect on, 49, 50, 51, 54, 57
  • U.S. dollar rates, 25†, 26, 41, 42*, 45
  • Valuation of SDR, 95, 144
  • Variability, 1, 9, 16, 24, 40, 41, 42, 43†, 45, 46†, 53-54
  • Wages, effect on, 1
  • See also individual countries

Executive Board

  • Allocations of SDRs for fourth basic period, discussions on, 77, 98
  • Article IV consultations, role in, 62, 107
  • Bank for International Settlements borrowing agreement, 86
  • Borrowed resources suspense accounts, decision to adopt, 92
  • Charges, decision to simplify structure of, 81, 93-94
  • Compensatory financing of fluctuations in cereal import costs, decision on, 81, 84-85
  • Eighth General Review, preparatory work on, 90 Enlarged access policy: adoption of, 85-86; guidelines for, 87; periodical reviews of, 87-88
  • Extended Fund facility, review of, 84
  • Interest rate on SDR and rate of remuneration, decisions on, 93-94, 96
  • List of Executive Directors and voting power, 210-12
  • Membership changes, 213-18
  • Oil facility subsidy account, decision establishing, 101
  • “Other holders” of SDRs prescribed, 97
  • Quota adjustments, review of, 89
  • Quota increase request by Iran, consideration of, 89
  • Reconstitution, abrogation of, 96
  • Repurchase, guidelines for, 88
  • Rescheduling of repurchases, agreements to, 88
  • Reserve tranche treatment, decision on, 83
  • Sales of SDRs by Fund for quota increase payments, 100
  • Saudi Arabian Monetary Agency borrowing agreement, 86
  • SDR valuation, decision to simplify structure of, 95
  • Supplementary financing facility subsidy account, establishment of, 105
  • Surveillance over exchange rate policies, review of, 61-62, 107
  • Transferability of oil facility claims, decision on, 90-91
  • Trust Fund: 1980 decisions on, 103-104; establishment of, 102
  • World economic outlook, review of, 82, 107

Executive Board Decisions

  • Borrowed resources suspense accounts, 168-69
  • Borrowing agreement with Bank for International Settlements, 189-90
  • Borrowing agreement with Saudi Arabian Monetary Agency, 172-89
  • Borrowing from central banks and other official institutions, 191-96
  • Charges on transactions and holdings in the General Resources Account, 163-67
  • Compensatory financing of fluctuations in the cost of cereal imports, 169-72
  • Enlarged access policy, 153-55; forms of stand-by and extended arrangements, 156-61
  • Policy on multiple currency practices, 161-62
  • Purchases under stand-by and extended arrangements, 167-68
  • Selection of currencies by Fund, 152-53
  • Special drawing rights: abrogation of rules for reconstitution, 145; allocation to new participants, 146; rate of interest and rate of remuneration, 144-45; sales by Fund for quota payments, 145; sales of SDRs and use of currencies through operational budgets, 151-52; valuation and interest rate basket, 142-44
  • Supplementary financing facility: review and extension of, 151; subsidy account, 147-51
  • Treatment of reserve tranche, 162-63
  • Trust Fund: inclusion of China and Guyana among eligible members and extension of second period, 146; termination, repayments of loans, and use of Fund’s resources, 146-47

Extended Fund Facility, 80*, 122*-123*, 126*, 79, 82, 84

  • Charges, 129*
  • Enlarged access policy under, 86-87
  • Extended arrangement: form under enlarged access policy, 158-62
  • Purchases by members, 81, 82*, 83, 84, 162, 167-68
  • Repurchases by members, 83†
  • Supplementary financing facility, use of, 84, 86*
  • See also individual countries

Fiji

  • Exchange rate, 116*
  • Quota increase, 131 *
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*

Financial Programs Agreed with Fund, 3, 19, 39, 78, 79

Financial Statements of Fund, 221-45

Finland

  • Balance of payments, 24
  • Enlarged access policy, lending under, 92
  • Exchange rate, 116*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131*
  • SDRs, 134*, 136*

Foreign Exchange Markets

  • See Exchange Markets

Foreign Exchange Reserves

  • See International Reserves

Foreign Investment

  • See International Investment

Foreign Trade

  • See International Trade

France

  • Balance of payments, 21†, 22, 23, 28, 49, 50*, 51
  • Economic activity and policies, 4, 10†, 50*, 94†
  • Employment, 12
  • Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 25†, 28, 42*, 43†, 46†, 47, 48†, 50*, 69, 116*
  • General Arrangements to Borrow, 127*
  • GNP deflator, 8
  • Interest rates, 3, 4, 27†, 28, 43†, 44†, 46†
  • International reserves, 47, 48†
  • Investments, 71†
  • Monetary growth, 4, 5†, 45*
  • Oil facility subsidy account, contribution to, 102*
  • Oil prices, 23
  • Output, 8*, 9, 10†, 51
  • Prices, 6†, 8, 27†
  • Quota increase, 131*
  • Rate of return on French franc, 70
  • Ratio of official reserves to exports, 48†
  • Role of French franc as reserve currency, 66, 69
  • SDRs, 99, 134*, 136*
  • Trade, 23

Gabon

  • Exchange rate, 116*
  • Extended arrangement with Fund, 126*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 136*

Gambia, The

  • Exchange rate, 116*
  • Quota increase, 131 *
  • SDRs, 134*, 136*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

General Arrangements to Borrow (GAB)

  • Borrowing by Fund, 82*, 88, 90, 127*
  • Credit arrangements, 127*
  • Participants, 127*
  • Purchases by Fund members financed under, 83
  • Renewal, 90
  • Repayment in Fund, 101

General Resources Account Trans-actions

  • Borrowing by Fund, 78, 79, 90, 127*, 135*
  • Charges, 81, 93-94, 106, 129*, 163-67;payment in SDRs, 99, 100, 135*
  • Currencies, use of, 88, 151-53
  • Holdings of: gold, 82*, 88; SDRs, 64, 80, 82*, 88, 100, 106-107, 135*; usable currencies, 80, 82*, 88
  • Purchases by members, 3, 79, 80, 82, 83, 100, 121*, 122*-123*, 135*
  • Receipt of SDRs, 100, 135*, 136*-139*
  • Remuneration paid to members, 81, 93-94, 106-107; in SDRs, 100, 135*
  • Repurchases by members, 82, 831, 88, 100, 121*, 124*-125*, 135*
  • Rescheduling of repurchases, 88
  • Reserve tranche treatment, 83
  • SDRs: inclusion in operational budgets, 100; use of, 100, 135*, 136*-139*
  • Subscription payments by members in SDRs, 135*

Germany, Federal Republic of

  • Balance of payments, 21†, 22, 23, 28, 49, 50, 51
  • Economic activity and policies, 4, 10†, 50*, 94†
  • Employment, 12
  • Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 119* (fn”)
  • Exchange rate, 23, 25†, 28, 41, 42, 43†, 45, 46†, 47, 48†, 49, 50, 69, 116*
  • General Arrangements to Borrow, 127*
  • GNP deflator, 8, 9†
  • Interest rates, 3†, 4, 27†, 28, 42, 43†, 44†, 46†
  • International reserves, 47, 48†
  • Investments, 71†
  • Monetary growth, 4, 5†, 45*
  • Oil facility financing, 90-91, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Oil prices, 23
  • Output, 8*, 9, 10†, 51
  • Prices, 6†, 8, 9, 23, 27†, 41, 42, 49
  • Quota increase, 131*
  • Rate of return on deutsche mark, 70
  • Ratio of official reserves to exports, 481
  • Role of deutsche mark as reserve currency, 66, 69
  • SDRs, 70, 72, 98*, 99, 134*, 136*
  • Supplementary financing facility, lending for, 91, 128*
  • Trade, 23
  • Transfer of: oil facility claims, 90-91; supplementary financing facility claims, 91

Ghana

  • Exchange rate, 116*
  • Quota increase, 131 *
  • Repurchases from Fund, 124*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Gold

  • ECUs issued against, 64-66
  • Fund holdings, 88
  • Holdings, 64-66, 65*, 68
  • Price, 64-66, 68, 103
  • Sales by Fund, 82*, 102, 103*; distribution of profits, 79, 80*, 82*, 103*

Greece

  • Exchange rate, 116*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 131 *
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 137*

Grenada

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 98*, 134*, 137*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Group of Ten, 72

Guatemala

  • Exchange rate, 117*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 137*
  • Supplementary financing facility, lending for, 128*

Guinea

  • Exchange rate, 117*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Guinea-Bissau

  • Exchange rate, 117*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 137*

Guyana

  • Exchange rate, 117*
  • Extended arrangement with Fund, 86*, 126*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 137*
  • Supplementary financing facility, use of, 86*
  • Trust Fund: disbursements, 104*; eligible for assistance, 103, 146

Haiti

  • Exchange rate, 117*
  • Extended arrangement with Fund, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 137*
  • Trust Fund disbursements, 104*

Honduras

  • Exchange rate, 117*
  • Extended arrangement with Fund, 126*
  • Quota increase, 131 *
  • SDRs, 99*, 134*, 137*
  • Trust Fund disbursements, 104*

Iceland

  • Exchange rate, 117*
  • Quota increase, 131*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 137*

Income and Expenses of Fund, 106, 220

India

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Output, 14, 55 (fn.)
  • Prices, 15
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 131 *
  • SDRs, 99*, 134*, 137*
  • Trust Fund disbursements, 103, 104*

Indonesia

  • Exchange rate, 117*
  • Quota increase, 131*
  • SDRs, 99*, 134*, 137*

Industrial Countries

  • Balance of payments, 1, 4, 16, 18*, 19, 20*, 21, 22, 23, 26, 36, 38, 40, 41, 49, 50*, 73, 75
  • Borrowing, 18 Capital flows, 1, 51
  • Capital markets, access to, 75
  • Debt, 47, 49
  • Economic activity and policies, 1, 2, 3, 4, 6, 8, 9, 10†, 11, 19, 26, 36, 37, 38, 39, 41, 47, 49, 50*, 51, 58
  • Employment, 11, 36, 37
  • Energy prices, 11, 36, 37, 38
  • Energy production and consumption, 2, 6, 11, 36, 37
  • Enlarged access policy, lending under, 92
  • Exchange arrangements, 54*
  • Exchange rates, 1, 24, 25†, 37, 39, 40, 41, 42, 43†, 46†, 47, 48†, 49, 50*, 58
  • Foreign exchange reserves, 65*, 66
  • Gold holdings, 65*, 66
  • GNP deflators, 7, 8, 9†, 21
  • Incomes policies, use of, 37
  • Indexation, 36, 38
  • Interest rates, 1, 3, 4, 16, 19, 26, 27†, 37, 40, 42, 431, 44†, 45, 46†, 74, 94†
  • International banking, 19*
  • International reserves, 481, 64, 65*, 75
  • Investments, 11, 36
  • Manufacturing, labor costs in, 7
  • Monetary growth, 1, 2, 4, 5†, 19, 36, 37, 42, 45, 47, 49
  • Oil price increases, effect of, 2, 6, 9, 36, 74
  • Output, 1, 2, 4, 6, 7, 8, 9, 10†, 11, 12, 23, 36, 37, 39, 40, 51
  • Prices, 2, 3, 4, 6, 7, 8*, 9†, 11, 19, 21, 26, 27†, 36, 37, 39, 40
  • Private banks, 18, 36
  • Protectionism, 36, 38, 39, 56
  • Ratio of: non-gold reserves to imports, 75, 76†; official reserves to exports, 48†
  • Reserve positions in Fund, 65*, 66
  • SDRs, 65*, 66, 70, 72
  • Stagflation, 36-37, 39
  • Trade, 1, 7, 11, 16, 17*, 21, 23, 36, 38
  • Wages, 7, 8, 36, 38
  • See also individual countries

Interim Committee

  • Allocations of SDRs for fourth basic period, consideration of, 77, 98
  • Communiqués, 3, 90, 95, 105, 197-203
  • Eighth General Review, endorsement of, 90
  • Inflation, views on, 3
  • Simplification of SDR valuation, endorsement of, 95

International Adjustment Process, 33, 38, 39, 40, 47, 49, 55, 59-61

International Banks

  • Global sources and uses of funds, 18, 19*, 74

International Investment

  • Direct investment, 18, 33, 52, 56
  • Effect of exchange rate variability on, 47, 52, 56
  • Energy production, 6, 11
  • Industrial countries, investment of, 71†
  • Non-oil developing countries, investments of, 33
  • Oil exporting countries, investments of, 13, 18, 29, 53, 56-57, 77
  • Protectionism, 15

International Organizations

  • Fund relations with, 108-109

International Reserves

  • Adequacy of, 64, 74-75, 77
  • Borrowed from capital markets, 74, 77
  • Changes in countries’ holdings of, 47, 48†
  • Composition of, 40, 64, 66, 68, 69, 72, 73*
  • Distribution of, 33, 75
  • ECU holdings, 40, 64, 68, 72, 73*
  • Foreign exchange holdings, 64, 65-66, 68-69, 72-73, 78
  • Global stock, 18, 64, 75, 77
  • Gold holdings, 64-66, 68
  • Growth of, 40, 64, 68, 70, 75, 77, 78, 81
  • Official holdings, 48†, 64, 65*, 66, 67*, 68, 69*, 72, 73, 74
  • Recycling, Fund’s role in, 81
  • Reserve positions in Fund, 40, 48† (fn.), 64, 65*, 66, 70, 72, 77, 81, 83, 88, 106-107
  • SDRs, 40, 48† (fn.), 64, 65*, 66, 68, 70, 82, 97
  • See also individual countries

International Trade

  • Cereals, 81, 84-85
  • Developing countries, trade among, 56
  • Effect of: exchange rate changes on, 50, 51; oil price stabilization on, 2 Growth of, 1, 16
  • Import substitution, 55
  • Manufactured goods, 17*, 23
  • Oil, 17*, 23, 28, 29, 30, 38
  • Prices, 17*
  • Primary commodities, 17*, 30
  • Protectionism, 14, 36, 38, 39, 56, 61
  • Summary of, 1962-80, 17*
  • Terms of trade, 1, 2, 16, 17*, 28, 29, 30, 38
  • Value of, 17*
  • Volume of, 17*
  • See also individual countries

Iran

  • Economic activity and policies, 13, 29
  • Exchange rate, 117*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Output, 12
  • Prices, 13
  • Quota increase, 89, 98, 131*, 133* (fn.)
  • SDRs, 134*, 137*
  • Trade, 29

Iraq

  • Balance of payments, 29
  • Economic activity and policies, 13
  • Exchange rate, 117*
  • Output, 12
  • Quota increase, 89, 131*
  • SDRs, 134*, 137*
  • Trust Fund, contribution to, 103

Ireland

  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 117*
  • Quota increase, 131*
  • SDRs, 134*, 137*

Israel

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 100, 122*, 124*
  • Quota increase, 131*
  • SDRs, 98*, 100, 134*, 137*

Italy

  • Balance of payments, 21†, 22, 23, 28, 49, 50*, 51
  • Economic activity and policies, 4, 10†, 28, 50*
  • Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 24, 119* (fn.)
  • Exchange rate, 24, 25†, 28, 41, 42*, 43†, 46†, 48†, 49, 50*, 117*
  • General Arrangements to Borrow, 127*
  • GNP deflator, 8
  • Interest rates, 3†, 4, 27†, 43†, 44†, 46†
  • International reserves, 48† Monetary growth, 4, 5†, 45*
  • Oil facility subsidy account, contribution to, 102*
  • Oil prices, 23
  • Output, 8*, 9, 10†, 51
  • Prices, 6†, 8, 27†, 28, 41, 49
  • Quota increase, 131*
  • Ratio of official reserves to exports, 48†
  • SDRs, 97, 99*, 134*, 137*
  • Trade, 23
  • Wages, 49

Ivory Coast

  • Exchange rate, 117*
  • Extended arrangement with Fund, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases from Fund, 122*
  • Quota increase, 131*
  • SDRs, 97, 99*, 134*, 137*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Jamaica

  • Exchange rate, 117*
  • Extended arrangement with Fund, 84, 86*, 126*
  • Purchases and repurchases from Fund, 122*
  • Quota increase, 131*
  • SDRs, 98*, 99*, 134*, 137*
  • Supplementary financing facility, use of, 86*

Japan

  • Balance of payments, 21†, 22, 23, 24, 28, 49, 50, 51, 59
  • Economic activity and policies, 10†, 50*, 94†
  • Enlarged access policy, lending under, 92
  • Exchange rate, 23, 24, 25†, 26, 28, 41, 42, 43†, 45, 46†, 47, 48†, 49, 50, 59, 69, 117*
  • General Arrangements to Borrow, 127*
  • GNP deflator, 8, 9†
  • Interest rates, 3†, 4, 19, 26, 27†, 28, 43†, 44†, 46†
  • International reserves, 47, 48†
  • Investments, 71†
  • Manufacturing, labor costs in, 23
  • Monetary growth, 4, 5†, 45*
  • Oil facility subsidy account, contribution to, 102*
  • Oil prices, 23
  • Output, 8*, 9†, 10†, 11, 28, 51
  • Prices, 6†, 8, 9, 27†, 49
  • Quota increase, 131 *
  • Rate of return on yen, 70
  • Ratio of official reserves to exports, 48†
  • Role of yen as reserve currency, 66, 69
  • SDRs, 70, 72, 134*, 137*
  • Supplementary financing facility, lending for, 128*
  • Trade, 11, 23

Jordan

  • Exchange rate, 117*
  • Quota increase, 131*
  • SDRs, 134*, 137*

Kampuchea, Democratic

  • Exchange rate, 117*
  • Gold sales by Fund: share of profits held in Trust Fund, 104 (fn.)
  • Quota increase, 89, 131*
  • Reconstitution obligation, 97
  • SDRs, 97 (fn.), 134*, 137*
  • Trust Fund, 104 (fn.)

Kenya

  • Exchange rate, 117*
  • Extended arrangement with Fund, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*
  • Quota increase, 132* SDRs, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*
  • Trust Fund disbursements, 104*

Korea

  • Exchange rate, 117*
  • Oil price increase, effect of, 55
  • Purchases and repurchases from Fund, 83, 122*, 124*
  • Quota increase, 89, 132*
  • SDRs, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*

Kuwait

  • Allocation of SDRs to, 98
  • Balance of payments, 29
  • Exchange rate, 117*
  • Oil facility financing, 127*
  • Quota increase, 89, 132*
  • SDRs, 98, 99*, 134*, 137*, 146
  • Special Drawing Rights Department, participation in, 98, 146
  • Supplementary financing facility, lending for, 128*
  • Trust Fund, contribution to, 103

Lao People’s Democratic Republic

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Latin America and Caribbean

  • Balance of payments, 18*
  • Debt, 34*
  • Output, 12*, 15
  • Prices, 12*, 15, 16*, 72
  • Trade, 15
  • Trust Fund disbursements, 103*

Lebanon

  • Exchange rate, 117*
  • Quota increase, 89, 132*
  • SDRs, 134*, 137*

Lesotho

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Liberia

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Libyan Arab Jamahiriya

  • Balance of payments, 29
  • Exchange rate, 117*
  • Quota increase, 89, 132*
  • SDRs, 99*, 134*, 137*
  • Trust Fund, contribution to, 103

Luxembourg

  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 117*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • SDRs, 134*, 137*

Madagascar

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Malawi

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 134*, 137*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*
  • Trust Fund disbursements, 104*

Malaysia

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*

Maldives

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 134*, 137*

Mali

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Malta

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*

Mauritania

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 134*, 137*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Mauritius

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 88, 122*, 124*
  • Quota increase, 132* SDRs, 99*, 134*, 137*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Mexico

  • Exchange rate, 117*
  • Extended arrangement with Fund, 126*
  • Purchases and repurchases from Fund, 100, 124*
  • Quota increase, 132*
  • SDRs, 99*, 100, 134*, 137*

Middle East

  • Balance of payments, 18*
  • Debt, 34*
  • Output, 12*, 15
  • Prices, 12*, 16*
  • SDRs, 72
  • Trade, 15
  • Trust Fund disbursements, 103*

Monetary Growth, 1, 2, 4, 5†, 36, 37, 41, 42, 45, 47, 59

Morocco

  • Exchange rate, 117*
  • Extended arrangement with Fund, 84, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Nepal

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*
  • Trust Fund disbursements, 104*

Netherlands

  • Balance of payments, 24 Enlarged access policy, lending under, 92
  • European Monetary System, participation in, 119* (fn.)
  • Exchange rate, 117*
  • General Arrangements to Borrow, 127*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • Role of guilder as reserve currency, 66, 69
  • SDRs, 99*, 134*, 137*
  • Supplementary financing facility, lending for, 128*
  • Supplementary financing facility subsidy account, contribution to, 106

New Zealand

  • Exchange rate, 117*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 137*

Nicaragua

  • Exchange rate, 117*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 134*, 137*
  • Stand-by arrangement with Fund, 120*

Niger

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Nigeria

  • Exchange rate, 117*
  • Oil facility financing, 127*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*
  • Supplementary financing facility, lending for, 128*

Norway

  • Balance of payments, 22, 23, 24
  • Enlarged access policy, lending under, 92
  • Exchange rate, 24, 117*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Oil production, 23
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*

Official Development Assistance (ODA), 29, 31, 32*, 33, 39

Oil Facility in Fund

  • Borrowing by Fund, 82*, 88, 90-91, 127*
  • Charges, 93, 129*
  • Purchases by members, 79, 82*, 83†, 101*
  • Repayments by Fund, 90-91, 101, 127*
  • Repurchases by members, 83, 124*-125*
  • Subsidy account, 101-102
  • Transfer of claims, 90-91
  • See also Subsidy Account for Oil Facilityand individual countries

Oman

  • Exchange rate, 117*
  • Oil facility financing, 127*
  • Quota increase, 89, 98, 132*
  • SDRs, 99*, 134*, 137*

Organization of Petroleum Exporting Countries (OPEC)

  • Fund for International Development, 29
  • Trust Fund contributions by members of, 103

Pakistan

  • Exchange rate, 117*
  • Extended arrangement with Fund, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 137*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Panama

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 134*, 137*
  • Stand-by arrangement with Fund, 82, 86*, 120*
  • Supplementary financing facility, use of, 86*

Papua New Guinea

  • Exchange rate, 117*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 134*, 137*
  • Trust Fund disbursements, 104*

Paraguay

  • Exchange rate, 117*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*

Peru

  • Exchange rate, 117*
  • Purchases and repurchases from Fund, 100, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 100, 134*, 138*
  • Stand-by arrangement with Fund, 120*

Philippines

  • Exchange rate, 117*
  • Extended arrangement with Fund, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 99*, 100, 134*, 138*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Portugal

  • Exchange rate, 117*
  • Oil price increase, effect of, 55
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 138*

Publications of Fund, 141*

Qatar

  • Balance of payments, 29
  • Exchange rate, 117*
  • Quota increase, 89, 132*
  • SDRs, 134*, 138*
  • Trust Fund, contribution to, 103

Quotas of Fund Members

  • Adjustment of, 79-80, 88, 89
  • Basis for enlarged access limits, 2, 87 (fn.)
  • Eighth General Review, 78, 79, 88, 90
  • Increases in, 64, 78, 79, 89, 107, 131*-133*
  • Seventh General Review, 78, 79, 88, 89, 98, 100, 107
  • Subscription payments, 78, 79, 100
  • See also individual countries

Romania

  • Exchange rate, 118*
  • Purchases and repurchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 138*
  • Trust Fund, contribution to, 103

Rwanda

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

St. Lucia

  • Article VIII obligations, acceptance of, 107
  • Exchange rate, 118*
  • Purchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 134*, 138*

St. Vincent and the Grenadines

  • Exchange rate, 118*
  • Purchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 134*, 138*
  • Status in Fund, 107

Sao Tome and Principe

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 134*, 138*

Saudi Arabia

  • Balance of payments, 29
  • Enlarged access policy, lending under, 29, 78, 81, 86, 89, 90, 91-92, 172-89
  • Exchange rate, 118*
  • Oil facility claims, 90-91
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Output, 12, 13
  • Quota adjustment, 78, 81, 88, 89-90
  • Quota increase, 89, 132*
  • Reserve position, 89
  • SDRs, 99*, 134*, 138*
  • Supplementary financing facility claims, 91
  • Supplementary financing facility, lending for, 128*
  • Trade, 29
  • Trust Fund, contribution to, 103

Senegal

  • Exchange rate, 118*
  • Extended arrangement with Fund, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Seychelles

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 134*, 138*

Sierra Leone

  • Exchange rate, 118*
  • Extended arrangement with Fund, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Singapore

  • Exchange rate, 118*
  • Quota increase, 89, 132*
  • SDRs, 99*, 134*, 138*

Solomon Islands

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 98*, 134*, 138*

Somalia

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 134*, 138*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

South Africa

  • Exchange rate, 118*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 99*, 134*, 138*

Spain

  • Balance of payments, 24
  • Exchange rate, 118*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 99*, 134*, 138*

Special Drawing Rights (SDRs)

  • Allocations, 40, 77, 79, 80*, 134*, 136*-139*; for first basic period, 78; for third basic period, 70, 77, 82, 95, 98, 146; for fourth basic period, 77, 98
  • Characteristics, 77, 95-96 Charges, payment of, 99, 100, 135*
  • Currencies transferred for, 99, 100, 140*
  • Currency peg, use as, 54*, 63*, 98, 116*-119*
  • Deposit market, 72
  • Holdings: by General Resources Account, 70, 88, 100, 106-107, 135*, 151-52; by “other holders,” 65*, 70, 97; by participants, 66, 70, 96-97, 100, 136*-139*
  • Interest and assessments on Fund holdings, 135*, 136*-139*
  • Interest rate on, 69-70, 71† (fn.), 77, 81, 93-94, 95, 96, 100, 106-107, 142-44, 144-45
  • Operational budgets, inclusion in, 100
  • “Other holders” prescribed by Fund, 77, 82, 92, 95, 97, 139*
  • Purchases and repurchases by members, 100, 122*-123*, 135*
  • Purchases by “other holders,” 99
  • Quota increase payments in, 70, 107
  • Reconstitution of participants’ holdings, 96-97, 99, 135*; abrogation of, 77, 81, 95, 96-97, 99, 100-101, 145
  • Remuneration paid to members, 135*, 144-45
  • Replenishment of participants’ currencies, use in, 135*
  • Reserve asset, role as, 77, 78, 79, 81, 95
  • Sales by Fund, 151; for quota increase payments, 100, 145
  • Subscription payments in, 89, 100, 135*
  • Transactions and operations, summary of, 136*-139*
  • Transfers: by agreement, 98-99, 135*, 140*; to and from General Resources Account, 99-100, 135*, 136*-139*; total, 135*; with designation, 99-100, 135*, 136*-139*, 140*
  • Unit of account, use as, 82, 95-96, 97-98
  • Uses, 71†, 77, 81-82, 92, 95-96, 99
  • Valuation, 70, 77, 81, 95-96, 142-44
  • See also individual countries

Special Drawing Rights Department

  • Participants, 89, 136*-139*, 146
  • Transactions and operations, 98-101, 136*-139*
  • See also Special Drawing Rights

Sri Lanka

  • Exchange rate, 118*
  • Extended arrangement with Fund, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 138*
  • Trust Fund disbursements, 104*

Staff of the Fund, 109

Stand-By Arrangements for Fund Members, 79, 80*, 82, 120*, 121*; enlarged access policy, use under, 86-87; form under enlarged access policy, 156-58; purchases and repurchases by members, 83, 122*-123*, 167-68; use of supplementary financing facility under, 82, 83, 86*, 120*; see also individual countries

Subscriptions of Fund Members

  • See Quotas of Fund Members

Subsidy Account for Oil Facility, 80*,

  • 101; beneficiaries, 101-102; charges,
  • 101; contributors, 102; establishment,
  • 101; purchases, 79, 101-102;
  • see also individual countries

Subsidy Account for Supplementary Financing Facility, 101

  • Assets placed with Bank for International Settlements, 106
  • Borrowing by Fund, 81, 105-106
  • Contributors, 105-106
  • Establishment, 81, 105, 147-51
  • Investments, 106
  • Members eligible for subsidy, 105, 106*, 149
  • Terms and conditions of subsidy, 105, 147-51
  • Trust Fund assets transferred to, 81, 104, 105
  • See also individual countries

Sudan

  • Exchange rate, 118*
  • Extended arrangement with Fund, 82, 86*, 126*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 88, 122*, 124*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*
  • Supplementary financing facility, use ‘ of, 86*
  • Trust Fund disbursements, 104*

Supplementary Financing Facility, 85

  • Borrowing by Fund, 82*, 85, 88, 90, 91, 128*
  • Charges, 93, 129*
  • Commitments to members, 82, 85, 86*, 91
  • Establishment, 85
  • Extended arrangements, use with, 82, 85, 86*
  • Extension, 151
  • Interest rate payable by Fund, 91
  • Purchases by members, 83, 86*, 122*-123*
  • Repayment by Fund, 101
  • Stand-by arrangements, use with, 82, 83, 85, 86*, 120*
  • Subsidy account, 85, 105, 106*, 147-51
  • Transferability of claims, 91
  • See also Subsidy Account for Supplementary Financing Facilityand individual countries

Suriname

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*

Surveillance over Exchange Rate Policies

  • Adjustment of exchange rates, 59-61
  • Article IV: consultations, 62, 82, 107;obligations under, 57
  • Fund’s approach to, 58, 60-61
  • Fund’s role in, 39, 40, 57-58, 62
  • Review by Executive Board, 107
  • Supplemental surveillance procedures, 82, 107
  • World economic outlook exercise, role of, 62

Swaziland

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 134*, 138*
  • Trust Fund disbursements, 104*

Sweden

  • Balance of payments, 24
  • Enlarged access policy, lending under, 92
  • Exchange rate, 24, 118*
  • General Arrangements to Borrow, 127*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Quota increase, 132*
  • SDRs, 97, 134*, 138*

Switzerland

  • Balance of payments, 24
  • Borrowing by Fund, 82*, 90
  • Enlarged access policy, lending under, 92
  • Exchange rate, 28, 41, 48†
  • General Arrangements to Borrow, association with, 90
  • International reserves, 48†
  • Oil facility financing, 90, 127*
  • Oil facility subsidy account, contribution to, 102
  • Ratio of official reserves to exports, 481
  • Role of Swiss franc as reserve currency, 66, 69
  • Supplementary financing facility, lending for, 91, 128*

Syrian Arab Republic

  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 134*, 138*

Tanzania

  • Exchange rate, 118*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*
  • Trust Fund disbursements, 104*

Technical Assistance and Training by Fund, 82, 107-108

Thailand

  • Exchange rate, 118*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 138*
  • Trust Fund disbursements, 104*

Togo

  • Exchange rate, 118*
  • Purchases from Fund, 122*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 86*, 120*
  • Supplementary financing facility, use of, 86*
  • Trust Fund disbursements, 104*

Trinidad and Tobago

  • Exchange rate, 118*
  • Oil facility financing, 127*
  • Quota increase, 132*
  • SDRs, 99*, 134*, 138*

Trust Fund, 101

  • Bank for International Settlements, assets placed with, 104
  • Disbursements, 79, 80*, 81, 102-104, 146
  • Establishment, 81, 102
  • Gold auctions, 102-103
  • Investments, 102-104
  • Members eligible for assistance, 102-103, 146
  • Repayment of loans, 81, 146-47, 103-104
  • Second period, extension of, 103, 146
  • Supplementary financing facility subsidy account, transfer of assets to, 81, 104, 146-47
  • Termination, 81, 104, 146-47
  • Terms and conditions of loans, 103—104
  • See also individual countries

Tunisia

  • Exchange rate, 118*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 134*, 138*

Turkey

  • Exchange rate, 118*
  • Purchases and repurchases from Fund, 83, 122*, 124*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 100, 134*, 138*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*

Uganda

  • Exchange rate, 118*
  • Quota increase, 132*
  • Repurchases from Fund, 124*
  • SDRs, 98*, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

United Arab Emirates

  • Balance of payments, 29
  • Exchange rate, 118*
  • Quota increase, 132*
  • SDRs, 98*, 99*, 134*, 138*
  • Trust Fund, contribution to, 103

United Kingdom

  • Balance of payments, 21, 22*, 23, 24, 26, 49, 50*, 51
  • Economic activity and policies, 4, 101, 26, 50*, 94†
  • Employment, 12
  • Enlarged access policy, lending for, 92
  • Exchange rate, 23, 24, 251, 26, 42*, 43†, 45, 46†, 47, 48†, 50*, 69, 118*
  • General Arrangements to Borrow, 127* GNP deflator, 8
  • Interest rates, 3, 4, 19, 26, 27†, 43†, 44†, 45, 46†
  • International reserves, 47, 48†
  • Investments, 11, 711
  • Monetary growth, 4, 5†, 26, 45*
  • Oil facility subsidy account, contribution to, 102*
  • Oil production, 23
  • Output, 8*, 9, 10†, 11, 51
  • Prices, 6, 8, 23, 26, 27†
  • Purchases and repurchases from Fund, 100, 124*
  • Quota increase, 132*
  • Rate of return on pound sterling, 70
  • Ratio of official reserves to exports, 481
  • Role of pound sterling as reserve currency, 66, 69
  • SDRs, 99, 100, 134*, 138*
  • Trade, 23
  • Wages, 49

United States

  • Balance of payments, 4, 21, 22*, 23, 24, 26, 45, 49, 50, 51, 58
  • Economic activity and policies, 4, l0†, 23, 45, 50*, 58, 59, 94†
  • Employment, 12
  • Exchange rate, 23, 24, 251, 26, 41, 42*, 45, 46†, 47, 48†, 49, 50, 58, 59, 69, 118*
  • General Arrangements to Borrow, 90, 127*
  • GNP deflator, 8, 9
  • Interest rates, 3†, 4, 19, 24, 26, 27†, 41, 44†, 45, 46†, 58
  • International reserves, 47, 48†, 68, 75, 77
  • Investments, 11, 23, 71†
  • Manufacturing, labor costs in, 7
  • Monetary growth, 4, 5†, 23, 45, 58
  • Official claims on, 73*
  • Output, 4, 8*, 9, 10†, 11, 23, 51, 58
  • Prices, 6, 7, 8, 9, 23, 26, 27†, 49
  • Purchases from Fund, 90
  • Quota increase, 132*
  • Rate of return on dollar, 70
  • Ratio of: non-gold reserves to imports, 77; official reserves to exports, 481
  • Role of dollar as reserve currency, 66, 68
  • SDRs, 72, 99, 134*, 138*
  • Supplementary financing facility, lending for, 128*
  • Trade, 23
  • Wages, 7

Upper Volta

  • Exchange rate, 118*
  • Quota increase, 133*
  • SDRs, 134*, 138*
  • Trust Fund disbursements, 104*

Uruguay

  • Article VIII obligations, acceptance of, 107
  • Exchange rate, 118*
  • Oil price increase, effect of, 55
  • Quota increase, 133*
  • SDRs, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 120*

Vanuatu

  • Membership in Fund, 89
  • Quota, 89

Venezuela

  • Economic activity and policies, 13
  • Exchange rate, 118*
  • Oil facility financing, 127*
  • Oil facility subsidy account, contribution to, 102*
  • Prices, 13
  • Quota increase, 133*
  • SDRs, 99*, 134*, 138*
  • Supplementary financing facility, lending for, 128*
  • Trust Fund, contribution to, 103

Viet Nam

  • Exchange rate, 118*
  • Purchases and repurchases from Fund, 122*, 125*
  • Quota increase, 133*
  • SDRs, 99*, 134*, 138*
  • Trust Fund disbursements, 104*

Western Samoa

  • Exchange rate, 118*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 123*, 125*
  • Quota increase, 133*
  • SDRs, 98*, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

World Bank

  • Cooperation with Fund, 78
  • “Other holder” of SDRs, 77, 97

World Trade

  • See International Trade

Yemen Arab Republic

  • Exchange rate, 118*
  • Quota increase, 133*
  • SDRs, 134*, 138*

Yemen, People’s Democratic Republic of

  • Exchange rate, 118*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 123*, 125*
  • Quota increase, 133*
  • SDRs, 134*, 138*
  • Trust Fund disbursements, 104*

Yugoslavia

  • Exchange rate, 118*
  • Oil facility subsidy account, contribution to, 102*
  • Purchases and repurchases from Fund, 83, 123*, 125*
  • Quota increase, 133*
  • SDRs, 99*, 134*, 138*
  • Stand-by arrangement with Fund, 83, 86*, 120*
  • Supplementary financing facility, use of, 83, 86*
  • Trust Fund, contribution to, 103

Zaire

  • Exchange rate, 118*
  • Oil facility subsidy account, use of, 101
  • Purchases and repurchases from Fund, 123*, 125*
  • Quota increase, 133*
  • SDRs, 98*, 99*, 134*, 139*
  • Stand-by arrangement with Fund, 120*
  • Trust Fund disbursements, 104*

Zambia

  • Exchange rate, 118*
  • Oil facility subsidy account, use of, 101
  • Quota increase, 133*
  • Repurchases from Fund, 125*
  • SDRs, 98*, 99*, 134*, 139*
  • Trust Fund disbursements, 104*

Zimbabwe

  • Allocation of SDRs to, 98
  • Exchange rate, 118*
  • Membership in Fund, 89, 107, 133* (fn.)
  • Purchases from Fund, 123*
  • Quota, 89, 98, 133*
  • SDRs, 89, 98, 99*, 134*, 139*, 146
  • Special Drawing Rights Department, participation in, 89, 98, 146
  • Stand-by arrangement with Fund, 83, 120*

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