Funds obtained by this method are not limited in their use to balance of payments difficulties.

In each country there are balance of payments difficulties, but quite encouraging growth figures in all three.

This decline was often caused by US balance of payments difficulties or the mechanics of US budgetary management.

The main elements are the surveillance and monitoring of economic and financial stability, and provision of multilateral finance to countries with balance of payments difficulties.

The UK floated sterling in June 1972, largely because of her own balance of payments difficulties, and most other major economies had followed suit by March 1973.

On Wednesday, Pakistan joined Iceland, Hungary, Serbia and Ukraine and requested aid from the International Monetary Fund in dealing with severe balance of payments difficulties.

As a result of the limited increase in exports most governments will continue to experience serious balance of payments difficulties, although in some countries sometimes offset by earnings from minerals such as oil and diamonds.

In 1991, because of its balance of payments difficulties, Comoros became eligible for the IDA's Special Program of Assistance for debt-distressed countries of sub-Saharan Africa.

For similar reasons, not much weight can be given to the argument that balance of payments difficulties arose from persistent excess absorption (i.e. too high a level of demand) in the economy [Matthews et al.,1982].

This project investigates causes and consequences of major macroeconomic problems--in particular, unemployment, stagnation, inflation, and balance of payments difficulties--in terms of microeconomic imperfections in the labour and product markets.

When we talk about a situation of balance of payments difficulties, we are talking about decisions which have to be taken very quickly and, secondly, with sufficient technical support to allow the financial markets to positively assess the decision adopted.

Living with higher oil prices worsens recession and balance of payments difficulties, results in higher production costs, inflation and interest rates, penalises families on low incomes and causes wars over control of the oil supply, as in Iraq.

Continuous adjustment If a country is suffering balance of payments difficulties because of a long-run decline in its competitive position, then a floating exchange rate allows a gradual depreciation of the home currency to come about, thus providing a continuous stimulus to exports and a continuous discourage-ment to imports.

We now start our study of the economy as a whole and in the remainder of the book we consider many of the world's most pressing macroeconomic problems - problems like persistent unemployment, rapid inflation, balance of payments difficulties, economic stagnation and unequal distributions of income and wealth.