appendix b capital flow tables - nber.org · rfd sal den ger 178 swe grants loans fin loans 3 swi...
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This PDF is a selection from an out-of-print volume from the National Bureauof Economic Research
Volume Title: Measuring International Capital Movements
Volume Author/Editor: Walther P. Michael
Volume Publisher: NBER
Volume ISBN: 0-87014-229-1
Volume URL: http://www.nber.org/books/mich71-2
Publication Date: 1971
Chapter Title: Appendix B: Capital Flow Tables
Chapter Author: Walther P. Michael
Chapter URL: http://www.nber.org/chapters/c3945
Chapter pages in book: (p. 91 - 142)
Appendix B
CAPITAL FLOW TABLES
Appendix Tables B-I to B-VII cover the individual types of capitalflows by countries of origin and destination (with the exception ofAppendix Table B-VI, as explained below). For the sake of simplicity,the countries for which the transactions constitute changes in assetsare called "lenders" (although some of the types consist partly ofequity capital); and the countries for which the transactions constitutechanges in liabilities are called "borrowers." In Appendix Tables B-Ito B-V the lenders (and donors of grants) appear in the box heads, orin the columns where groups of countries are combined under onecolumn heading, the borrowers (and recipients of grants) in the stubs.In Appendix Table B-Vu, Reserves and Correspondent Accounts,the holders of foreign currencies — the lenders — appear in the stub.Appendix Table B-VI shows only the net short-term credit inflowsand outflows by country for reasons explained in the text.
The figures represent the total flows during the five years, 1950—54.
Some reported transactions were excluded from the tables. A fewsmall transactions covering life insurance funds and real estate trans-actions were excluded from the table since they could not be classifiedunder any of the major types. Also excluded were certain "book-keeping" transactions which are not relevant for the purpose of thisstudy. The latter consist of cancellations of contingent liabilities ofBelgium and Indonesia; Australian and New Zealand transactionswith U.K.-Dominion Wool Disposal Ltd., which are in the nature ofmerchandise consignments; Indian receipts of annuities from theU.K. and offsetting payments of pensions and amortization to theU.K.; U.S. vestings and divestings of alien property; and the assump-tion by Germany of $1 billion of American grant-aid as a liability.
Conversions of one type of capital into another, such as the fund-• ings of short-term credits, are included, however, in the respective
types of capital (that is, as if there were a repayment of the short-termitem and a new flow of long-term capital).
Appendix Tables B-I to B-VII follow. Notes for each table are atthe end of the individual table. Statistical notes and a list of abbrevia-tions for all the tables follow Appendix Table B-Vu.
APP
END
IX T
AB
LE B
-IG
over
nmen
t Gra
nts a
nd N
et L
oans
, Fiv
e-Y
ear T
otal
s, 19
50—
54(m
illio
ns o
f dol
lars
) Lend
ers (
dono
rs)
Gro
upI
Oth
erG
roup
sEu
r.in
st.
IEPA
,EP
U
mt.
inst
.U
N,
IBR
DB
orro
wer
s (re
cipi
ents
)To
tal
Tota
lU
SU
KFr
ance
Oth
CO
EEC
&Jp
n2,
3,4
Can
-ad
aO
ther
Tota
l aid
17,9
9516
,043
12,6
4973
22,
024
638
—93
—22
313
073
51,
310
Grants
15,7
2914
,249
11,9
6389
670
733
471
700
446
Loan
s,net
2,266
1,794
686 —164
1,317
—45
—427
—294
—133
35
864
Group I
Total aid
6,578
6,585
6,950
—270.
—11
.—84
—358
—242
—116
342
9
Grants
8,04
07,
677
7,64
71
2921
174
342
Loan
s—
1,46
2 —
1,09
2—
697
—27
1—
11—
113
—37
9—259
—120
9
UK
Grants
1,717
1,71
11,
711
66
Loan
s—528
—250
—239
—6
Bet
—3
—278
—197
Por
—4
Ita—
2C
ey—
7m
d —
19Jo
r—
3U
KO
T —
48A
usG
rant
s52
339
539
512
8Lo
ans
—16
—16
—12
—3
—1
Bel
Gra
nts
264
264
261
Uni
Loan
s—
10—
32—
53N
th26
—15
—17
Con
237
Uni
—5
FrG
rant
s2,
006
1,96
01,
936
Ita24
f246
Loan
s—
496
—43
7—
209
—16
2B
el—
3—
58—
45D
en—
1—
1
Swi —
58Sw
e—
9
Nth
—5
Sp—
3
Ger
Gra
nts
1,12
61,
058
1,05
71
3Sw
e2
65U
na1
Loan
s—
100
—98
—24
—42
—1
Be!
—1
—2
Den
—2
Swi —
30Ita
Gra
nts
961
961
961
Loan
s—
58—
68—
58—
1Sw
i—
9—
10A
rg —
1020
Nth
Gra
nts
604
500
498
Uni
1U
na1
103
Loan
s—
259
—18
5—
121
—64
—16
Swe
—12
—58
Ant
—4
Swi
Loan
s—
2—
2—
2
ECC
SLo
ans
5959
59U
ni O
EEC
Gra
nts
293
282
282
1111
Loan
s—
23—
23G
er—
6Sw
i —17
Jpn
Gra
nts
546
546
546
Loan
s—
29—
40—
4011
Gro
up 2
Tota
l aid
1,79
91,
309
1,03
615
0—
112
4—
46—
8—
3811
941
7G
rant
s88
376
858
944
135
66
109
Loan
s916
541
447
106
—1
—11
—52
—8
—44
10
417
Can
Loans
74
74
866
Chi
Gra
nts
55
5Lo
ans
1724
24—
18A
rg —
1811
Isr
Gra
nts
366
366
217
18C
Ger
131
a
Loan
s11
211
611
6—
4Jo
r—
4
Ice
Gra
nts
2622
224
Loan
s11
43
11
Den
16
(con
tinue
d)
APP
END
IX T
AB
LE B
-I (c
ontin
ued)
Lend
ers (
dono
rs)
Gro
up1
Oth
er G
roup
s—
Eur.
Inst
.IE
PA,
EPU
mt.
Inst
.U
N,
IBR
DB
orro
wer
s (re
cipi
ents
)To
tal
Tota
lU
SU
KFr
ance
Oth
CO
EEC
& Jp
n2,
3,4
Can
-ad
aO
ther
(C A
Gra
nts
Loan
sG
rant
sLo
ans
NZ
Loan
sG
rant
sLo
ans
Loan
sG
rant
sLo
ans
Nor
Gra
nts
Loan
s
14 65 218
810
46
&Jp
n—
1—
1—
1
1313
1373
3531
419
391
9113
812
712
727
3414
29
257
157
155
42—
7—
5
4848
4818
1818
—24
—13
—13
Gro
up 2
(con
t.)Ir
e
Asi
1414
65 265
RFd SA
lD
en
Ger
178
Swe
Gra
nts
Loan
sFi
nLo
ans
3Sw
i—
5—
7U
ni—
4
38 102
Swe
3Sw
e—
78
Uni
3Sw
e3.
.97
Bel
—4
14—
8Sw
e22
10U
ni2
—38
Swe
1
Arg
—35
Bra
—2
Col
—1
USS
R—
1
25 27
Arg
Loans
91
91
92
—1
Urn
Gra
nts
14
14
113d
Loan
s30
30G
roup
3To
tal a
id2,
658
1,92
51,
721
3622
146
162
—18
180
274
297
Gra
nts
1,79
41,
407
1,15
867
2715
512
712
724
911
Loan
s864
518
563
—31
—5
—9
35
—18
53
25
286
Bra
Grants
33
33
10
Loan
s423
314
314
109
Cot
Grants
33
3
Loans
5315
15—
2—
240
Cub
Gra
nts
11
1
Loan
s13
1313
Mex
Grants
30
30
30
Loans
119
5959
60Pa
nG
rant
s5
55
Ven
Gra
nts
11
1
Loan
s2
22
Gr
Gra
nts
837
655
554
Uni
101(
117
9Loans
—34
—34
—22
—12
Tur
Gra
nts
252
192
192
3Ir
q3
57Lo
ans
492
43—
29—
2G
er —
10—
6Y
ug—
125
28SB
I—
5
Por
Gra
nts
2916
1313
Loan
s36
3636
SpGrants
13
13
13
Loans
64
64
65
—1
Yug
Grants
459
452
330
41
27
Uni
54"
7 e
Loans
150
101
53
47
Nth
149
Leb
Grants
10
99
1'
Loans
—3
—3
—1
—2
(C
(con
tinue
d)
Gro
up 3
(con
t.)
APP
END
IX T
AB
LE B
-I (c
ontin
ued)
Lend
ers (
dono
rs)
Gro
upI
Oth
er G
roup
sEu
r.In
st.
IEPA
,EP
U
mt.
Inst
.U
N,
IBR
DB
orro
wer
s (re
cipi
ents
)To
tal
Tota
lU
SU
KFr
ance
Oth
CO
EEC
& Jp
n2,
3, 4
Can
-ad
aO
ther
(C
USS
R
OSB
I
Gro
up 4
CR
Gra
nts
Loan
sG
rant
sLo
ans
Tota
l aid
Gra
nts
Loan
sG
rant
sLo
ans
102
—22
—22
60—
17—
1719
1919
—68
—34
—14
—20
5,23
14,
884
2,33
443
71,
987
3,34
33,
117
1,96
140
565
31,
888
1,76
737
332
1,33
45
55
—1
—1
—1
2
124
Fin
77—
3Sw
e80
—34
—13
Den
—4
Nor
—3
Swe
—12
Bra
—2
Dom
Gra
nts
IEI
SG
rant
sLo
ans
2
Gua
Gra
nts
Hai
Gra
nts
Loan
sH
onG
rant
sN
icG
rant
sLo
ans
9877
4136
149
121 5
1 51 5
8 38 3
8 3
rI
33
33
—2
—2
Bol
Grants
19
19
19
Loans
15
15
15
Ecu
Grants
54
41
Gua
1
Loan
s8
88
Per
Grants
88
8
Loans
913
13
—8
Arg
—8
4
Phi
Gra
nts
245
245
245
Loans
1010
10
Ryl
Gra
nts
5757
57SK
Gra
nts
750
672
672
3Th
a3
75u
Loan
s—
4—
4—
4Ta
iG
rant
s35
635
634
8Jp
nLo
ans
—14
—14
—14
Lib
Gra
nts
44
4Lo
ans
55
5SA
rG
rant
s2
22
Bur
Gra
nts
1919
19Lo
ans
—31
—13
—2
—11
—18
md —18
Cey
Grants
11
11
6As!
3
NZ
2
Loan
s1
md
Gra
nts
111
8282
2917
As!
11N
Z1
Loan
s215
188
188
27
Pak
Grants
123
93
93
30
18
As!
10
NZ
2
Loans
46
21
15
625
Nep
Grants
11
Irq
Gra
nts
44
4Lo
ans
5—
1—
16
Jor
Gra
nts
136
7713
64Lo
ans
1212
12 (con
tinue
d)
APP
END
IX T
AB
LE B
-I (c
oncl
uded
)
Gro
up
Bor
row
ers (
reci
pien
ts)
Tota
lTo
tal
US
UK
Lend
ers (
dono
rs)
1
.
Oth
er G
roup
sEu
r.In
st.
LEPA
,EP
U
mt.
Inst
.U
N,
IBR
DFr
ance
Oth
CO
EEC
&Jp
n2,
3,4
Can
-ad
aO
ther
Gro
up 4
(con
t.)Lb
yG
rant
s43
427
269
UK
OT
Tota
l aid
363
363
2034
3EA
f & A
deG
rant
s70
7070
Loan
sII
113
8W
Af
Gra
nts
5050
50M
al &
FE
Gra
nts
105
105
105
Loan
s23
2323
BW
IG
rant
s53
5353
Loan
s16
1616
0th
& U
naG
rant
s35
134
Afg
Gra
nts
11
Loan
s23
23
23
Ins
Grants
5957
53N
th4
2A
sIN
ZLoans
3247
55N
th—
8—
15—
9A
sI—
6Ir
nG
rant
s13
313
313
0Lo
ans
44
4Th
aG
rant
s22
2222
Loan
s17
—5
—4
—l
22Et
hG
rant
s8
85
ItsLo
ans
4—
1—
l—
2Sw
e—
27
Sud
Loan
s—
8—
4—
4—
4Eg
y—
4
Par
Gra
nts
44
4Lo
ans
5—
3—
36
Bra
62
Egy
Gra
nts
121.
18
Ita3°
jeLo
ans
——
—
Syr
Gra
nts
141
1
Loan
s—
6—
6Le
b —
10SA
r4
CO
TTo
tal a
id2,
334
2,27
618
21,
978
116
1717
41
BeI
CLo
ans
7939
17B
el22
40N
thO
TG
rant
s29
29N
th29
Loan
s14
14
Mb
14
FrOT
Grants
782
782
138
644
Loans
1,35
11,350
16
1,334
ItS
Gra
nts
5151
Ita51
PorO
TG
rant
s1
1Po
r1
Loan
s27
1111
16Po
r16
EurI EP
UG
rant
s42
841
823
815
1B
e!29
10Sw
e10
IEPA
Gra
nts
438
380
27A
us3
58D
en5
Bel
135
Nor
6G
er54
Swe
29ha
29Po
r8
Nth
17Tu
r10
EPU
Loan
s30
30B
e!30
B1S
Loan
s30
30Sw
i30
UN
Gra
nts
446
426
348
7820
13A
sI5
Pak
1
Tha
1
Una
&ro
undi
ngG
rant
s35
756
2235
's15
Nor
14Th
a1
100 Appendix BNOTES TO APPENDIX TABLE B-I.
a Reparations: Total grants in this column (683) include reparation payments of 330by Germany (163), Italy (159), and Japan (8), which are approximately equal to totalreceipts; the division between receipts from Germany and Italy cannot be made in allcases.
°Finnish reparations to USSR (124) included in total grants in this column (263).C Palestine settlement (see also footnote h).
Revaluations of sterling balances, held at the time of the 1949 devaluation, reportedby UK (total 42); allocation between Brazil and Uruguay estimated, may include smallamounts of Chile and Paraguay; Portugual may include Belgium (country allocationbased on The Banker, "Who holds the Sterling Balances?", May 1950, pp. 93 if,).
UNICEF.'UNRWA.UNKRA.Unallocated Sterling Area; the Palestine settlement (18) to Israel was assumed to be
included by UK in the Sterling Area figure. If this is not the case the unallocated amountis 53.
Miscellaneous, possibly not completely disbursed.NOTE: See the List of Abbreviations at the end of Appendix B. A minus sign indicates
net repayments.Discrepancies (after adjustments, if any) of partners' figures from those entered in
the table:Grants. Although a number of entries were reported by only one side or were iden-
tified by partner country only on one side, irreconcilable discrepancies occur mainlybetween US grants and the corresponding partners' receipts (in 25 cases Out of a totalof 63 countries, 16 underreporting, 9 overreporting, their receipts from the US); USfigures for US grants were entered in the table. In the majority of the discrepancies ofthe partners' figures with those of the US the discrepancy is 5 per cent or less, oramounts to less than $5 million. In the following cases the discrepancies are over 10per cent and over $5 million (figures in millions of dollars): Belgium, —63; Netherlands,—69; Israel, —30; Norway, —17; Yugoslavia, +86; India, —11; Indonesia, —7. The Con-tinental OEEC area as a whole underreports its receipts from the US. The amount of$282 million to unallocated OEEC (US column in Group 1) can, therefore, not explainthe discrepancies and seems to represent general expenditures of the program.
Loans. Most discrepancies are less than $5 million. In the following cases the dis-crepancies are over 10 per cent and over $5 million of the net figure (figures in millionsof dollars)-: discrepancies of liability figures from US asset figures which were enteredin the table—Japan, —20, Mexico, —14; discrepancies of the asset figures from the liabil-ity figures where the latter figures were taken—repayments by Germany (—30) andFrance (—58) to Switzerland: the Swiss record falls short by 14 for Germany, and 24 forFrance, i.e., total discrepancy, +38; Netherlands loan to Belgium (26): Netherlandsreports 8, discrepancy, —18; repayment by Indonesia to Netherlands (—8): Nether-lands reports +2, discrepancy, +10.
APP
END
IX T
AB
LE B
-Ia
Type
s and
Pur
pose
s of G
over
nmen
t Gra
nts a
nd G
ross
Loa
ns, F
ive-
Yea
r Tot
als,
1950
—54
(mill
ions
of d
olla
rs)
CD
Gro
up 1
Gro
up 2
Gro
up 3
Gro
up 4
Una
Tota
l
Tota
l9,
041
2,13
33,
086
5,53
679
620
,592
Gra
nts
7,74
588
31,
794
3,36
579
6Lo
ans
1,29
61,
250
1,29
22,
171
1. R
elie
f and
reha
bilit
atio
n (W
W II
)G
rant
s77
46
1137
220
11,
364
a.C
ivili
an su
pplie
s: U
S(72
9), U
K(l)
to G
er(1
85),
Jpn(
545)
; RyI
(57)
730
5778
7b.
Fam
ine
relie
f in
WEu
r and
Jpn:
US
toG
er(1
7), I
ta(1
9), A
us(5
),Jpn
(1)
42.
42c.
War
dam
age
and
reco
nstru
ctio
n: U
S to
Phil(
181)
; UK
to M
a! a
nd B
or(6
1)24
224
2d.
Sw
e gr
ants
to D
en(3
), N
or(3
), G
er(2
),un
der W
ashi
ngto
n A
gree
men
t2
68
e. U
N, I
RO
and
Can
to C
OEE
C fo
r IR
O,
etc.
(11)
119
119
f.U
N, U
NIC
EF10
136
47g.
UN
,UN
RW
A1
7246
119
Loan
sh.
UK
to M
al23
23
APP
END
IX T
AB
LE B
-Ia
(con
tinue
d)
Gro
up 1
Gro
up 2
Gro
up 3
Gro
up 4
Una
Tota
l
a. U
S ec
on. &
tech
n. a
ssis
.: U
K(1
,673
), A
us(3
90),
Bel
(261
), Fr
(1,9
16),
Ger
(843
), Ita
(934
), N
th(4
96),
Ice(
22),
Ire(
14),
Den
(127
), N
or(1
51),
Swe(
48),
Por(
13)
b. T
hrou
gh IE
PA-E
PU to
OEE
C c
ount
ries
(exc
ept G
r & T
ur) a
nd IE
PA-E
PU n
etre
ceip
ts (u
na)
c.G
ener
alai
d:EC
A/M
SA(3
81);
EXIM
(303
, inc
ludi
ng 1
7 fo
r Den
con
verte
dfr
om p
rivat
e lo
an)
d. E
XIM
: cot
ton(
81),
toba
cco(
10) c
redi
tse.
Can
loan
to U
Kf.
Intra
-EPU
are
a lo
ans (
incl
udin
g EP
U
Intra
-Eur
con
solid
atio
ns o
f sho
rt-te
rm
342
109
131,
181
269
36
537
111
3691 45 18
513
217
145
106 13
166
286
2913
527
9
2. E
ur a
nd Jp
n re
cove
ryG
rant
s6,
855
471
26
6,51
336
213
Loan
s and
BIS
)
debt
sg. h.
Aid
to Jp
n: E
XIM
cot
ton
cred
it3.
Gra
nts d
ue to
obl
igat
ions
, in
the
natu
re o
f con
-tra
ctua
l pay
men
ts
448
7,80
0
282
7,17
0
166
630
1,48
6
684 91 45 198
362
106
173
479
143
454
a.R
epar
atio
ns
b.. R
eval
uatio
n of
Ste
rling
bal
ance
s: U
K to
Uru
(13)
, Bra
(23)
, Por
(3),
Irn(
3)13
263
42c.
Inde
mni
ficat
ion
for l
oss o
f oil
reve
nue:
Irq
to T
ur (W
W I)
33
d. P
al se
ttlem
ent w
ith su
cces
sor s
tate
s (U
Kpr
esum
ably
all
to Is
r)18
18e.
Ret
urn
lend
-leas
e sh
ips:
UK
(—6)
, Fr
(—10
), U
SSR
(—22
)—
16—
22—
384.
Mili
tary
bui
ldup
and
mili
tary
em
erge
ncie
sG
rant
s90
46
977
1,07
7a.
Mili
tary
pro
duct
ion
and
cons
truct
ion:
US
to U
K(4
4), F
r(30
), Ita
(8),
Nth
(2),
Nor
(4),
Tur(
6), a
nd C
an to
UK
(6)
904
610
0b.
Kor
: US
civi
lian
relie
f(44
0), e
cono
mic
(232
), Th
a ric
e(3)
, UN
KR
A(9
8, e
sti-
mat
ed)
773
773
c.Ic
h: U
S on
ly (e
cono
mic
); Fr
, n.a
.13
813
8d.
Mal
: UK
, int
erna
l sec
urity
mea
sure
s(C
omm
unis
t gue
rilla
war
)43
43e.
Ken
: UK
gra
nts f
or "
emer
genc
y" a
nd"a
gric
ultu
ral r
eset
tlem
ent"
(Mau
-Mau
rebe
llion
)23
23Lo
ans
29242
12
72
355
f.
US
loan
s for
stra
tegi
c m
ater
ial p
rodu
c-tio
n (in
clud
ing
EXIM
loan
s for
this
pur
-po
se)
2917
612
6728
4g.
UK
loan
to C
an c
orpo
ratio
n66
66h.
UK
loan
to K
en fo
r "em
erge
ncy"
55
(con
tinue
d)
APP
END
IX T
AB
LE B
-Ia
(con
tinue
d)
Gro
up 1
Gro
up 2
Gro
up 3
Gro
up 4
Una
Tota
l
5. A
id to
stra
tegi
c co
untri
esG
rant
s13
1,34
941
21,
774
a. G
r and
Tur
: US
to G
r(55
0), T
ur(1
86),
IEPA
-EPU
to G
r(17
9), T
ur(5
7)97
297
2b.
Yug
: US
(eco
nom
ic 3
02, m
u, c
onst
ruc-
tion
7), U
K(4
1), F
r(27
)37
737
7c.
Tai:
US
(eco
nom
ic 3
43, s
tude
nt a
id 5
)34
834
8d.
Jor:
UK
gra
nts o
nly
6464
e.B
er: U
S13
13Lo
ans
200
1221
2f.
Tur:
US(
70),
UK
(l), E
PU(2
5)96
96g.
Yug
: US(
55),
UK
(47)
, Nth
(2)
104
104
h. Jo
T (U
K)
1212
6. D
evel
opm
ent a
idG
rant
s23
639
1,48
013
11,
886
a.U
S ec
onom
ic a
nd te
chni
cal a
ssis
tanc
en.
e.c.
223
3947
322
757
b. U
K d
evel
opm
ent a
id to
RFd
(13)
, Lby
(26)
, dep
ende
ncie
s(17
1)19
735
245
c.C
ontin
ent t
o in
depe
nden
t cou
ntrie
s( 1
3);
and
to d
epen
denc
ies (
Fr 6
44, I
ta 5
1, N
th29
, Por
1)
738
738
d. C
olom
bo P
lan
aid
by G
roup
2 (C
an 4
1,A
sI 2
5, N
Z 6)
7272
e. E
cono
mic
and
tech
nica
las
sist
ance
thro
ugh
UN
(69)
and
by
US
thro
ugh
IIA
A(5
)74
74Lo
ans
8673
996
12,
064
3,85
0f.
US
EXIM
and
pro
gram
loan
s not
in-
clud
ed e
lsew
here
291
337
202
830
g. U
S co
mm
odity
loan
s: m
d w
heat
loan
(190
); Sp
cot
ton
loan
(23)
2319
021
3h.
Eur
loan
s to
inde
pend
ent c
ount
ries b
yU
K(2
5) a
nd N
th(5
3), S
we(
1)13
6679
i.Eu
r loa
ns to
dep
ende
nt te
rrito
ries b
y U
K(3
); B
el(2
2); F
r(1,
334)
; Nth
(14)
; Por
(16)
1,38
91,
389
j.0t
hlo
ans:
Con
to S
aben
a(2)
; SA
r to
Syr
(4)
24
6k.
US
fund
ing
of im
port
arre
ars (
Bra
300
),Ph
i sho
rt-te
rm d
ebt (
35),
and
conv
ersi
onfr
om p
rivat
e lo
ans(
10)
310
3534
5I.
Oth
er c
onso
lidat
ions
of s
hort-
term
deb
tsby
Arg
(5),
Bra
(9),
and
refin
anci
ng b
yU
K(4
)9
918
m. I
BR
D lo
ans
8442
629
116
997
07.
Nat
ural
Dis
aste
r Aid
Gra
nts
7710
718
4a.
US
fam
ine
relie
f and
agr
. com
mod
. pro
-gr
ams
3192
123
b. U
S: a
id to
Mex
(foo
t & m
outh
dis
ease
)27
27c.
Mis
dis
aste
rs (U
S to
EEu
r 19;
UK
to d
e-pe
nden
cies
14;
Gua
and
oth
ers t
o Ec
u 1)
1915
34
(con
tinue
d)
APP
END
IX T
AB
LE B
-Ia
(con
clud
ed)
Gro
up 1
Gro
up 2
Gro
up 3
Gro
up 4
Una
Tota
l
8. O
ther
Gra
nts
4R
esid
ual
Una
1919
Loan
sEx
port
loan
s to
SBI b
y Sw
e(80
); N
Z(3)
8383
9. R
ecap
itula
tion:
US
gran
ts a
nd lo
ans
All
cate
gorie
s exc
ludi
ng d
evel
opm
ent a
id(li
nes 1
thro
ugh
5 an
d 7)
Gra
nts
7,36
536
61,
119
1,48
828
210
,620
Loan
s763
287
173
67
1,290
Total
8,128
653
1,292
1,555
282
11,910
Development aid (line 6)
Grants
223
3947
327
762
Loans
291
670
427
1,388
Total
514
709
900
27
2,150
All
othe
r cou
ntrie
sA
llca
tego
ries e
xclu
ding
dev
elop
men
t aid
(line
s 1 th
roug
h 5,
7, a
nd 8
)G
rant
s38
028
162
522
619
31,
705
Loan
s44
722
415
840
869
Tota
l827
505
783
266
193
2,574
0
Dev
elop
men
t aid
(lin
e 6)
S
Gra
nts
131,
007
351,
055
Loan
s2
221,
468
1,49
2To
tal
235
2,47
535
2,54
7In
tl UN
relie
f gra
nts (
line
1)11
171
190
372
UN
dev
elop
men
t gra
nts (
line
6)69
69To
tal
1117
125
944
1
IBR
D d
evel
opm
ent l
oans
(lin
e 6)
8442
629
116
997
0
w
108 Appendix BNOTES TO APPENDIX TABLE s-Ia
a The grand total differs from that in Appendix Table B-I by redonated receipts ofUN and IEPA-EPU ($1,146 million).
b Gross loans have been entered here, while in Appendix Table B-I loans are shownnet. Repayments amounted to: government loans $3,637 million; IBRD Loans $106million.
See Appendix Table B-I.n.a. = not available.n.e.c. = not elsewhere classified.NOTE: See the List of Abbreviations at the end of Appendix B.
APP
END
IX T
AB
LE B
-I!
Portf
olio
Inve
stm
ent,
New
Issu
es, R
edem
ptio
ns a
nd T
radi
ng, F
ive-
Yea
r Tot
als,
1950
—54
(mill
ions
of d
olla
rs)
Lend
ers
Gro
up 1
Oth
erC
OEE
CB
orro
wer
sTo
tal
Tota
lU
SU
K&
Jpn
Gro
ups
Tota
lTo
tal p
ortfo
lio2,
401
2,47
584
879
783
074
Issu
es3,
125
2,99
11,
610
713
668
134
R &
T—
724
—51
6—
762
8416
2—
208
Group 1
Tota
l por
tfolio
232
423
1922
318
1—
191
Issues
70
70
70
R&T
162
353
19
223
111
—191
US
Issues
17
17
Swi
17
R&
T36
4377
246
Nth—124
Swia
225
Jpn
1
Uni
29
Can —94
Othb
81
UK
R&
T—
183
—8
—8
Ire—
131
Oth
44A
usR
&T
—15
—15
--9
—6
Bel
Issu
es32
32Sw
i32
R&
T—
16—
16—
14—
2
(con
tinue
d)
APP
END
IX T
AB
LE B
-lI (c
ontin
ued)
Lend
ers
Gro
up1
Oth
erC
OEE
CB
orro
wer
sTo
tal
Tota
lU
SU
K&
Jpn
Gro
ups
Gro
up 1
(con
t.)Fr
Issu
es9
9Sw
i9
R&
T—
15—
19—
7N
th _
12d
Leb
Egy
1
Ger
R&
T—
16—
16Fr
3dU
ni—
13Ita
R&
T—
21—
21—
9—
12N
thIs
sues
1212
Swi
12R
&T
172
152
102
9(1
Fr_8
dIn
s—
9U
ni49
Una
29Sw
iR
&T
—56
—56
—31
FrU
niO
EEC
R &
T—
35—
8N
th—
8M
is e
—27
Jpn
R&
T—
17—
17—
12—
5G
roup
2To
tal p
ortfo
lio1,
175
1,15
664
435
116
119
Issu
es1,
673
1,65
31,
179
385
8920
R &
T—
498
—49
7—
535
—34
72—
1C
anIs
sues
993
993
993
R&
T—
336
—33
2—
384
—35
Fr_5
dSA
f2
Uni
92U
na—
6C
hiR
&T
—23
—23
—12
—9
Uni
—2
Isr
Issu
es17
217
217
2R
&T
—17
—11
—ii
Una
—6
Ire
Issu
es4
44
R&
T40
4040
Asi
Issu
es27
2714
Swi
13R
&T
—96
—11
2—
68—
48U
ni4
NZ
16N
ZIs
sues
4444
44R
&T
—22
—8
—8
AsI
—4
SAf
1
Uni
RSA
—11
'R
FdIs
sues
203
203
203
R&
T—
6—
10—
10SA
f4
SMIs
sues
171
171
120
Swi
51R
&T
135
113
16
75
Bel
13
Can
2
Fr
8RFd
9
Nth
1UKOT
4
UniRSA
7
Den
R & T
—67
—64
—51
—5
Uni
—8
Can
—1
Una
—2
Nor
Issu
es34
1414
Swe
20R
& T
—71
—55
—19
—7
Uni
—29
Swe
—16
Swe
Issu
es25
25Sw
i25
R &
T—
14—
12'
1—
11U
ni—
2Fi
n—
1
Uni
RSA
—1
Fin
R&
T—
14—
5—
1—
4Sw
e—
2U
na7d
Arg
R&
T—
1—
12—
12U
na11
Uru
R&
T-6
—6
—6
(con
tinue
d)
APP
END
IX T
AB
LE B
-Il (
conc
lude
d)
Lend
ers
Gro
up 1
Oth
erG
roup
sB
orro
wer
sTo
tal
Tota
lU
SU
KC
OEE
C&
Jpn
Gro
up 3
Tota
l por
tfolio
—19
2—
203
—82
—12
0—
111
Issu
es10
1010
R&
T—202
—213
—92
—120
—1
11
Bra
R & T
—138
—140
—34
—110
Uni
4UniLA
2
Col
R &
T—10
—10
—10
Cub
R&
T—
8—
8—
8M
exR&T
—8
—17
—17
Can
9
Pan
Issues
10
10
10
R&T
—9
9—9
Ven
R&T
--
—2
Swi
2
Gr
R&T
—1
—1
—1
Por
R&T
44
4
Tur
R&T
—15
—15
—10
Fr
—5
Sp
R&T
—17
—17
—15
Fr
Group 4
Total portfolio
608
611
—47
313
345
—3
Issues
647
647
295
352
R &
T—
39—
36—
4718
—7
—3
CR
R&
T—
1—
1—
1
Dom
R&T
11
1
E1S
R&
T—
3—
3—
1—
2
Hon
R&
T—
1—
1—
1
Nic
R&
T—
1—
1—
1
Per
Issu
es2
2Sw
i2
Phi
—14
—14
—14
Cey
Issu
es14
1414
md
R &
T33
381
32G
er4
Can
—1
Swi
1Pa
k—
9U
na5
UK
OT
Issu
es'
281
281
281
—25
—27
—21
—6
SAf
2In
sR
&T
—5
—5
Tha
R&
T—
3—
3—
3Eg
yR
& T
—7
—7
1—
5Fr
—3
Par
R&
T—
2—
2—
2C
OT
Issu
es35
035
035
0R
&T
—11
—11
—2
—9
BeI
CIs
sues
123
123
Be!
82Sw
i41
R&
T—
11—
11—
2B
e!—
9
FrO
TIs
sues
227
Fr22
7IB
RD
Issu
es-'
725
611
421
33N
th11
Can
43Sw
i13
6M
is"
71Jp
n"10
R &
T—
100
—10
3—
92—
3Sw
i—
8C
an3
Una
& ta
x ha
vens
R &
T—
47—
20—
15N
th—
5SA
f1
IBR
D —
28
114 Appendix BNOTES TO APPENDIX TABLE B-LI
Includes (1) transactions in US Government securities which, judging by US data,appear to be small; (2) liabilities of an unknown nature.
bChile 4, Israel —4, Ireland 1, Australia —1, New Zealand—I, South Africa 2, Swe-den —6, Argentina —3; Brazil 4, Colombia --2, Cuba 13, Mexico 6, Venezuela 11, Spain—1; Guatemala —2, Bolivia 1, Peru 1, Philippines —2, Taiwan —2, Hong Kong 13,Indonesia —1, Continental OT 2; Unalloc.: RSA 2, Latin America 14; tax havens: Pan-ama 11, Western Europe and Africa 23.
Canada —10, Australia —7, New Zealand —42 (may include transactions other thanportfolio, but not direct investment), South Africa 14, Rhodesian Federation 4, Norway1, Sweden —2; Sudan —2.
d These entries were assumed to consist of portfolio transactions, although they mayinclude other types of capital.
e Canada 2, Australia —1, South Africa 2, Norway 9; repurchases of IBRD obliga-tions —39.
'May include transactions other than portfolio, but not direct investment.9 Philippine redemption was connected with a funding operation and is not a
net repayment."Not true portfolio, as explained in the text.
Cyprus 11; Br. E. Africa 180; Br. W. Africa 28; Aden 3; Mauritius 7; Ma-laya 11; Br. Guiana 6; Br. W. Indies 35. Redemptions & Trading: by US from HongKong —21; by UK from other OT —6.
The distribution of IBRD issues corresponds to the amounts taken by the lendersand differs from the amounts floated in the respective markets. Flotations by marketwere as follows: US 585, UK 28, Netherlands 11, Switzerland 66, Canada 35.
k Purchases of IBRD bonds by central banks: S. Africa 7, Cuba 18, Mexico 4, ElSalvador 4, Honduras 5, Nicaragua 3, Ethiopia 22, Thailand 8; the Japanese purchasewas also a central bank purchase; the amounts of Japan, Thailand, and Mexico areestimates.
R & T is redemptions and trading.NOTE: See the List of Abbreviations at the end of Appendix B.Portfolio issues — Flotations in US represent the amounts taken in US (for IBRD issues
by market, see notej); exclude small issues, mainly of Canadian origin but the amountsinvolved are said to be small. Flotations in London exclude refunding issues; theseamounted to $120 million, but are not identifiable by country or area. There are nodiscrepancies.
Portfolio redemptions and trading — Discrepancies (after adjustments, if any) over 10per cent and over $5 million: (1) Discrepancies of the liability figures from the assetfigures in cases where the latter figures were entered in the table, US (for which trans-actions in US securities were based on .partner data) with Canada —29, with LatinAmerica +14, France with Switzerland +25 (not reported by France); Canada with US+296 (offset by a discrepancy in Appendix Table B-Ill, see notes to that table); Den-mark with US +9; Mexico with Canada —9 (not reported by Mexico). (2) Discrepanciesof the asset figures from the liability figures in cases where the latter figures were en-tered in the table: UK with Canada —55; France with Turkey +7; New Zealand withAustralia —17 (possibly due to time lag); Pakistan with India —9 (not reported by Pakis-tan).
APP
END
IX T
AB
LE B
-Ill
Dire
ct In
vest
men
t, Fi
ve-Y
ear T
otal
s, 19
50—
54(m
illio
ns o
f dol
lars
)
cJ'
Lend
ers
Gro
up 1
Gro
ups
2, 3
, 4 a
nd U
nallo
cate
d
CO
EEC
Tota
lB
orro
wer
sTo
tal
Tota
lU
SU
K&
Jpn
Oth
erC
anO
ther
Tota
l11
,492
10,6
016,
865
2,45
91,
277
891
623
268
Gro
up 1
2,79
22,
189
a1,
128
428
548
US
1,40
286
439
1Fr
Nth
257
Swi 1
19U
rii64
Jpn
3
538
512
Tsr
3N
Z4
SAf
1
Den
1
Bra
—7
.
Oth
Eur
1
UK
OT
1
Una
22
UK
621
573
527
Nth
46b
4830
Asi
8N
Z1
SAf
7D
en2
Aus
1515
15B
e!69
6969
(con
tinue
d)
APP
END
IX T
AB
LE B
-Ill
(con
tinue
d)
Lend
ers
Gro
up1
Gro
ups 2
,3,
4 a
ndU
nallo
cate
d
Bor
row
ers
Tota
lTo
tal
US
UK
CO
EEC
&Jp
nTo
tal
Oth
erC
anO
ther
Gro
up 1
(con
t.)Fr
197
190
144
27b
Bel
1b7
4Sw
e2b
Sw
iPor
1b
Ger
135
135
94Uni 41
Ita
128
124
84
3Fr
74
UniLA
4
Uni 30
Nth
101
101
81
Uni 20
Swi
14
14
14
Jpn
110
108
100
7Nth
12
2
Group 2
5,126
4,973
3,616
1,088
269
153
14
139
Can
3,172
3,170
2,897
186
Urii
87
2Una
2
Chi
124
124
124
Isr
92
92
49
Uni 43
Asi
737
721
228
459
Uni 34
16
5NZ
10
SA
f1
NZ
117
104
18
81
Uni
513
As!
13
RFd
109
59
15
44'
50
SAf
50
SAf
416
389
111
262
Bel
127
6A
sI3
Fr3
NZ
2G
er6
RFd
7N
th4
Den
1
Swi
2U
niR
SA6
CO
T2
Den
2222
102
Uni
10N
or13
213
118
54U
ni59
13
Uni
LA —
2Sw
e33
3333
Fin
2224
10U
ni14
—2
Una
—2
Arg
83
83
83
Uru
67
21
20
Fr
146
Una 46
Group3
1,444
1,357
1,238
40
79
87
59
28
Bra
465
463
450
Uni
13
21
Una
1
Col
66
69
69
—3
Ven —7
Ecu
4
Cub
132
132
132d
Mex
306
223
156
27
Fr
283
56
Swe
27
Ger
20U
ni18
Pan
52
52
52
Ven
352
347
326
13
Fr
75
2Arg
1
Ity
1Pan
2
Gr
55
5
Tur
28
28
18
Uni
10
Por
14
14
9Fr
lb
Uni
Sp
21
21
21
Leb
33
Fr
3
(continued)
APP
END
IX T
AB
LE B
-Ill
Lend
ers
Gro
up 1
Gro
ups 2
, 3, 4
and
Una
lloca
ted
Bor
row
ers
Tota
lTo
tal
US
UK
CO
EEC
& Jp
nTo
tal
Oth
erC
anO
ther
Gro
up 4
2,13
02,
082
883
903
296
482
46C
R2
22
Dom
3030
E1S
22
2G
ua2
22
Hai
1313
4Fr
9H
on41
4141
Nic
44
4Ec
u13
107
33
Una
3Pe
r91
9085
—2
Uni
71
Un1
LA1
Una
CA
1111
11'
Phi
102
8585
17U
na17
Tai
1414
14SA
r26
026
026
0Li
b34
3434
md
295
304
6523
5G
er1
—9
3N
Z —
1Sw
i2
Bur
—3
Jpn
1C
ey —
1U
na—
7
Pak
26
26
3220
Uni
1
Irq
50
44
10
21
Fr
10
6UniME
6
Uni
3
Ins
—5
—5
—7
Nth
2Et
h19
194
Nth
& F
r15
Sud
66
51
UK
OT
766
766
155
611
WHem
190
190
48
Af & Ade
367
367
34
333
ME,FE,&Oth
111
111
73
38
Una
98
98
As1OT
31
31
AsI
31
Par
99
9
Egy
3735
14
13
Fr
22
UniME
2
Uni
6
Syr
11
Fri
COT
276
279
44
—1
236
—3
—1
—2
BeIC
31
28
4Be! 28
3UniSA
3
Uni—4
NthOT
1642
19—
1Nth 24
—26
Una —26
FrOT
222
205
17Fr
185
17—
1SA
f2
Nth
2U
niSA
16Sw
i1
PorO
T7
44
3Una
3
120 Appendix BNOTES TO APPENDIX TABLE B-Ill
(1 The total of the Group 1 receipts from the Continent is smaller by 4, and the totalGroup 1 receipts from other is larger by 4, then the sums of the entries in the columns.This amount represents Danish investment in unidentified OEEC presumably includedin the unidentified receipts of the Continental countries.
b For these entries there is some doubt as to the type of capital. They were includedhere because, all considered, they are most likely to consist, entirely or largely, of di-rect investment but they may include other private capital.
Mainly investment in mining in 1950 and 1951. After that year the mining com-panies moved their head offices from London to Salisbury, and their subsequent in-vestment appears as portfolio.
d Includes 42 United States Government investments.e United Kingdom and Cont. OEEC, liabilities net of assets.'United States Government investment in abaca plantations.
Q Underestimated by changes in intercompany accounts and imports of equipment;may include portfolio.
hA discrepancy of +31 of Canadian investment in Sterling Area may represent in-vestment in Jamaica, in which case the United Kingdom investment in Western Hemi-sphere UKOT would be smaller by 31.
Investment by United Kingdom Overseas Food and Colonial Development Cor-porations.
NOTE: See the List of Abbreviations at the end of Appendix B.Discrepancies (after adjustments, if any) of partners' figures from those entered in
the table, where the partner's figure diverges from the entered figure both by morethan 10 per cent and by more than $5 million, are as follows: (1) Discrepancies of theliability figures from the asset figures in cases where the latter figures were entered inthe table (these discrepancies are all with the United States asset figures which wereused for all entries in the United States column), France +35; Japan —13; Canada—386; Brazil —120; Colombia+22; Mexico +114; Haiti+11; Ecuador+6; Peru-f 44;Philippines +36; India —8; Paraguay —7; Continental OT —6. (2) Discrepancies of theasset figures from the liability figures in cases where the latter figures were entered inthe table (the country or countries whose figures were entered and with which the dis-crepancy occurs appear in parentheses): Belgium +10 (with 'Congo); Canada —189(with US), +6 (with Continent), +31 (with rest of Sterling Area—but see note h), —26(with Latin America).
The large discrepancies of Canada with the United States seem to originate mainlyin different definitions of types of capital. The United States counts purchases of securi-ties of a direct investment enterprise by all residents of the investor's country as direct,while Canada counts only those of the controlling interests, the remainder as portfolio.The discrepancy of —386 is, consequently, largely offset by a positive discrepancy inportfolio- There are other differences in treatment as well, resulting in offsetting dis-crepancies in the various types. The over-all net discrepancy of all United States-Cana-dian movements is far smaller. Since for most entries the United States figures wereused, there is little possibility of duplication or omission of movements between thetwo countries.
The Mexican discrepancy seems largely due to the inclusion in the Mexican recordof investment by resident foreigners (see United States Department of Commerce,investment in Mexico, Washington, D.C., 1955, p. 11). The reasons for the other largediscrepanciescould not be ascertained.
Inclusion of reinvested profits: Reinvested profits are included for—all transactionsof the United States; the transactions of the following Sterling Area countries: Aus-tralia, New Zealand, India, Iraq, United Kingdom OT for 1953 and 1954; and for theBritish investment in Rhodesia; the transactions of the following Latin Americancountries: Mexico, Venezuela, Peru, Haiti, Ecuador, and possibly some others; thetransactions of Japan; the Philippines; and among the OEEC countries apparently onlyDen mark.
Appendix B 121
NOTES TO TABLE B-lIE (concluded)
Possible effect on the distribution of omitted reinvested profits: Reinvested profitsare excluded in a number of cases where they may have been important. In Group 1there was probably more British investment in petroleum marketing facilities, sincethe British companies had shares in all the Continental markets. Intra-Continentalinvestment may also have been somewhat larger. In Group 2 the missing reinvestedprofits of the United Kingdom and Continent in Canada and South Africa may havebeen substantial. For South Africa, the 1956 Census figures put cumulative reinvestedprofits at 38 per cent of total value. British investment in South Africa alone may havebeen larger by $150 million or more. There may have been some reinvestment inLatin America, particularly in Argentina (Group 2) and Brazil (Group 3), where Bri-tish investment was still of some size. In Group 4, the countries where excludedreinvested profits may have been of some size are Pakistan, Indonesia, and the Con-tinental dependencies, particularly the French.
All groups are thus affected by the omission of reinvested profits in certain cases.Considering the possible magnitudes involved, it is unlikely that the distribution amongrecipient groups would be substantially altered. The shares in the total supply of theUnited Kingdom and the Continent would be somewhat increased, perhaps by 2 percent for the United Kingdom, and by somewhat less for the Continent.
APP
END
IX T
AB
LE B
-IV
Loan
s by
the
Priv
ate
Sect
or, a
nd R
epay
men
ts, F
ive-
Yea
r Tot
als,
1950
—54
(mill
ions
of d
olla
rs)
Lend
ers
Tota
l
Gro
up 1
Oth
er &
Una
lloca
ted
Tota
lU
SU
KSw
itzer
land
Oth
CO
EEC
Rep
ay-
Rep
ay-
Rep
ay-
Rep
ay-
Rep
ay-
Rep
ay-
Rep
ay-
Hor
row
ers
Loan
sm
ents
Loan
sm
ents
Loan
sm
ents
Loan
sm
ents
Loan
sm
ents
Loan
sm
ents
Loan
sm
enta
Tota
l1,
649
1,42
71,
531
1,26
71,
042
664
73133
173
80
243
390
118
160
Net
222
264
378
—60
93—
147
—42
Gro
up1
787
784
765
741
542
281
568
149
68
69
324
22
43
Net
324
261
—63
81
—255
—21
US
23
12
13
35
38
Can
11
Den
4
Nor3
1
-S
p33
UniLA 3
UK
191
48
179
27
179
11
Fr
16°
SAf 4
Den
1
Nor 8
20
Aus
98
9S
2S
2Ger
14
Bel
73
168
73
168
43
53
30
Frb
115°
Fr
260
165
260
152
200
133
60
15
Ger
4°
Leb
6Sy
r7
Ger
75148
75
148
136
65
18°
7Fr
22
Nth 56°
Urn
18°
ha
28
37
28
37
55
23
32
Nth
23
85
23
85
22
23
112
Frb
50
Swi
123
123
12
Frb
21
UniCOERC
12
74
12
74
Frb
74NthI2c
Jpn
92
16
92
16
9i
161
Group2
396
337
310
228
180
129
56
60
24
850
31
86.
109
Net
59
82
51
—4
16
19
—23
Can
62
50
39
46
30
15
218
Uni
713
Una23
4
Chi
6646
66
46
58
44
22
Unid 6
Jsr
8327
69
23
41
17
62
9Aus
74
Can 4
Be!
6Sw
elO
4Ic
e2
12
11
1Unil
MI
11
1
RFd
2SAf2
SM
91
24
91
23
30
12
46
315
8Den
1
Den
11
17
11
17
17
Nthllc
Nor
10
68
10
45
10
10
35
Swe
23
Swe
52
76
67
62
Fr
50
Nor
46e
61
2
11
1
Uru
34
34
34
Gro
upS
382
255
372
248
251
206
125
410
933
107
Net
127
124
457
—4
763
Bra
123
5612
354
8238
1U
nid4
O16
Una
2
Col
9752
9051
4345
1B
e!2
Swe
5Fr
30U
n1LA
21
16
Cub
3810
3810
3810
Mex
6550
6550
5550
Uni
d 10
Pan
514
514
514
Ven
1410
1410
45
105
(con
tinue
d)
APP
END
IX T
AB
LE B
-IV
(con
clud
ed)
Lend
ers
Tota
l
Gro
up I
Oth
er &
Una
lloca
ted
Tota
lU
SU
KSw
itzer
land
Oth
CO
EEC
Bor
row
ers
Rep
ay-
Loan
sm
ents
Rep
ay-
Loan
sm
ents
Loan
sR
epay
-m
ents
Loan
sR
epay
-m
ents
Rep
ay-
Loan
sm
ents
Rep
ay-
Loan
sm
ents
Rep
ay-
Loan
sni
ents
Gro
up 3
(con
t.)G
r6
62
-U
ni4
Tur
25
15
Aus
11
Isr
1
Fr4
Sp22
4022
4022
40Y
ug8
98
94
4A
us8
1
SBI
29
5Fr
5N
or2
4G
roup
484
5184
5069
4815
2N
et33
34
21
13
—l
CR
22
2
Hai
31
31
3I
Hon
11
1
Nic
105
105
23
Ger
82
Bol
3125
3125
3125
Ecu
71
71
Fr6
Cot
& V
enI
•Per
106
106
106
Tai
85
85
85
Jib
107
107
107
Ins
11
FrI
UK
OT
11
1
BeI
C1
1
Appendix B 125
NOTES TO APPENDIX TABLE B-IV
a These transactions are not unambiguously identified by type of capital. They wereincluded here because, considering all the available evidence, they are most likely toconsist, entirely or largely, of private loan transactions.
b France (whose regional distribution distinguishes only currencies) reported re-ceipts of repayments of 210 million in dollars. There are no corresponding entriesin the accounts of Dollar Area countries. On the other hand, several Continentalcountries report repayments which, by timing, coincide with the French entries, viz.,the Netherlands (50), Switzerland (21), both made to "Continental OEEC," which weassumed to correspond to the French figure; in addition, we attributed half (65) ofBelgium's unallocated residual of its net private capital outflow to Appendix TableB-IV and counted it against the French entry (included in the amount of 115, 50 ofwhich is identified as a repayment to France in the French record). This procedureleaves 74 of the French receipts unaccounted for, which we entered as a repaymentby "Unidentified Continental OEEC" on the assumptions that it came mainly fromthese countries. (See also footnote a.)
c Loans to Unidentified Continental OEEC countries are reported by the Nether-lands (79) and Switzerland (5); loans received from unidentified Continental OEECcountries are reported by Germany (61) and Denmark (11). The Swiss loans (5 includedin 18) and part of the Netherlands loans (56) were assumed to correspond to theGerman entry, and 11 of the Netherlands loans were assumed to be the loans to Den-mark, leaving a residual of 12 of the Netherlands loans to "Unidentified ContinentalOEEC."
" The loans received by Latin American countries from "Unidentified ContinentalOEEC" (total 70, repayments —22) are partly accounted (18 and —6) by loansreported by the Netherlands to have been made to (unidentified) Latin America.
° The loans (46) and repayments (—69) reported by Norway for prepayments ofships (and repayment through delivery of ships) were assumed to have been to Sweden(which did not record private loan transactions) because much of the reconstructionof the Norwegian fleet took place in Swedish yards.
NOTE: See the List of Abbreviations at the end of Appendix B.Discrepancies (after adjustments, if any) of partners' figures from those entered
in the table: (1) Discrepancies of the liability figures from the asset figures in caseswhere the latter were entered in the table—Canada reports loans of 26 from, and re-payments of —39 to, the United States, net discrepancy —28, but the Canadian figuremay include other transactions. Other discrepancies were negligible. (2) Discrepanciesof the asset figures -from the liability figures in cases where the latter figures wereentered in the table—United States loans were broken down largely from partnerdata. United States discrepancy with partner data for repayments, +74, attributableto German repayment (36) under the London debt agreement, which is not in theUnited States record; and to Latin America (27) and Other. These may be due to timelags since some large repayments were made in 1954. Switzerland reported total re-payments of only 69, discrepancy, + 11. Other discrepancies were negligible.
APP
END
IX T
AB
LE B
-VEx
traor
dina
ry R
epat
riatio
ns, F
ive-
Yea
r Tot
als,
1950
—54
(mill
ions
of d
olla
rs)
.
Bor
row
ers
Tota
l
Lend
ers
Gro
up1
Gro
ups 2
, 3, 4
Tota
lU
SU
KC
OEE
C
Tota
l—
627
—56
3—
56—
399
—10
8—
64G
roup
1—
84—
51—
11—
40—
33U
S (n
.s.)
—2
Egy
—2
UK
(n.s.
)—
28m
d —
19Eg
y—9
Fr (n
.s.)
—24
Ita_2
4aG
er (r
eal e
stat
e)—
27—
11U
ni —
16U
niO
EEC
(n.s.
)3
Yug
—1
Egy—
2G
roup
2—
13—
13U
ru (w
ater
supp
ly)
—13
Gro
up-3
—16
5—
163
—55
—77
—31
—2
Bra
(rai
lroad
)—
32—
32—
32C
ub (r
ailro
ad)
—12
—12
—12
Mex
(pet
role
um, a
gric
ultu
re)
—68
—68
—55
—13
Ven
(tel
epho
ne)
—10
—10
—10
Gr (
agric
ultu
re)
—2
—2
—2
Leb
(urb
an tr
ansi
t)—
5—
5Fr
—5
Yug
(n.s.
)—
36—
34—
8B
el —
1Sw
e —
2Fr
—5
Ita—
16°
Swi—
4G
roup
4—
365
—33
6—
1—
298
—37
—29
Bol
(min
ing)
—3
—3
—3
Dom
(n.s.
)—
1—
1—
1Ph
i (ra
ilroa
d)—
13—
13—
13B
ur (p
etro
leum
; n.s.
)—
18—
8—
8In
d—lO
Cey
(agr
icul
ture
; n.s.
)—
31—
27m
d —
4In
db—
209
—20
9—
209
Ins (
n-s.)
—20
—20
Nth
—20
Eth
(n.s.
)—
3—
3ha
a
Sud
(agr
icul
ture
)—
15—
15—
15Eg
y (n
.s.)
—39
—35
—21
Fr —
4U
niM
E —
4U
ni —
10Pa
r (po
wer
, ban
king
)—
6—
2—
2B
ra —
4U
mM
E (n
.s.)
—7
Egy
—7
-J
128 Appendix BNOTES TO APPENDIX TABLE B-V
a Liquidation of Italian investment in settlement of reparations (therefore offset inAppendix Table B-I).
b Miscellaneous: commercial enterprises including tea estates ($55 million); trans-fers of savings of departing British personnel ($154 million); both amounts may includeother remittances.
n.s. = not specified.NOTE: See the List of Abbreviations at the end of Appendix B.Discrepancies (after adjustments, if any) of partners' figures from those entered in
the table: (1) Discrepancies of the asset figures from the liability figures in cases wherethe latter figures were entered in the table—United States repatriations from Mexico,United States acknowledges only —42, discrepancy, +13. Repatriations from Yugo-slavia, acknowledged by Italy, —20, discrepancy, —4; Switzerland, —15, discrepancy,—11; Sweden, 0, discrepancy, +2. Repatriations to India, the Indian record shows aninflow of $89 million from Asian countries, according to exchange control data. Thisamount is assumed in the balance of payments to be repatriation of Indian capital.It is said to originate in Malaya and "other nearby countries" (Reserve Bank of India,Survey of India's Foreign Liabilities and Assets as on 31st December 1953, Bombay, 1955,p. 83). Burma and Ceylon acknowledge 14 of this amount. The residual of 75, pre-sumably mainly from Malaya, we excluded on the grounds that it probably consistedmainly of private remittance by Indian laborers, rather than capital repatriation."Rough estimates" for such remittance are also included in the balance of payments,but not based on the exchange control record, and these may, therefore, be incompleteor duplicated (see IMF, Balance of Payments Yearbook, Vol. 8, Indian account, notes toitems 9 and 13). (2) Discrepancies of the liability figures from the asset figures in caseswhere the latter figures were entered in the tables—The liquidation of Italian invest-ment in settlement of reparations in Continental OEEC was assumed to be France(24), since the other possible partner, Greece, acknowledges only reparations in kindand in cash. The French record (based on exchange control data) does not includethis amount.
APP
END
IX T
AB
LE B
-VI
Net
Sho
rt-Te
rm C
redi
t, C
ount
ry D
ata
(mill
ions
of d
olla
rs)
Tota
l Net
Fund
ing
ofEP
U C
redi
tIM
F Pu
r-Sp
ecia
lO
utflo
wD
ebt (
off-
or D
ebit
chas
es o
rM
ove-
Res
idua
lor
Inflo
wse
t ent
ries)
Bal
ance
sR
epur
chas
esm
ents
Cre
dit
(1)
(2)
(3)
(4)
(5)
(6)
Group 1
—31
914
0—
334
—35
047
3—
248
United States
.77
35
1453
—412
United Kingdom
192
69
336
—298
—25
110
Continent
—600
36
—670
—116
45
105
Austria
54
—53
—1
Bel
gium
(95)
138
—14
2—
2112
0Fr
ance
(—90
)24
3—
20—
313
Ger
man
y(—
602)
—10
2—
489
.—
11Ita
ly48
010
937
1N
ethe
rland
s—
454
—16
8—
7545
—25
6Sw
itzer
land
(25)
—17
019
5Ja
pan
1263
—51
(con
tinue
d)
-I..
cc
APP
END
IX T
AB
LE B
-VI (
conc
lude
d)
Tota
l Net
Fund
ing
ofEP
U C
redi
tIM
F Pu
r-Sp
ecia
lO
utflo
wD
ebt (
off-
or D
ebit
chas
es o
rM
ove-
Res
idua
lor
Inflo
wse
t ent
ries)
Bal
ance
sR
epur
chas
esm
ents
Cre
dit
(1)
(2)
(3)
(4)
(5)
(6)
—11
415
4
2
Gro
up 2
—41
—19
—33
026
8U
S-or
ient
ed—
361
4—
355
—10
UK
-orie
nted
456
—16
2530
Den
mar
k95
—75
101
69N
orw
ay84
—63
94—
1063
.Sw
eden
—25
24—
47—
2Fi
nlan
d19
316
Arg
entin
a47
47U
rugu
ay55
55G
roup
399
090
805
Bra
zil
273
245
Col
ombi
a13
811
3O
ther
US-
or. L
A3
3G
reec
ePo
rtuga
lTu
rkey
138 64 305
.90
48 72 255
rD
Yug
osla
via
8686
Oth
er C
ont.-
or.
—17
—17
2172 28 25
2—
10 3119
Gro
up 4
117
—35
—22
—40
214
US-
orie
nted
LA
—44
3—
47Ph
ilipp
ines
—70
—35
35Ta
iwan
& K
orea
715
66In
dia
—65
—47
—18
Indo
nesi
a64
15—
4594
Oth
er U
K-o
r.28
919
Para
guay
81
7Eg
ypt
45—
348
Syria
3636
CO
T44
44EP
U15
915
9B
IS—
46—
46IM
F32
132
1Fl
eets
& ta
x ha
vens
1717
Dis
crep
.1
,1 9
8—
72
193
1 ,0
1 0
SOU
RC
E: C
ount
ry a
ccou
nts.
NO
TE: I
f the
re is
a n
et in
flow
, the
re is
no
sign
bef
ore
the
figur
e; if
a n
et o
utflo
w, a
min
us si
gn.
132 Appendix BNOTES TO APPENDIX TABLE B-V1
Because the purpose of this table is to show the distribution of short-term creditand the cases where the larger cumulative inflows occurred, the countries with largertransactions are shown separately, those with moderate movements have been com-bined. The flows are shown net (changes in assets minus changes in liabilities) for rea-Sons explained in the text.
The explanations of the figures in the columns and of the discrepancies follow.Column 1: Total reported (and, where possible, adjusted) inflows and outflows.
Elimination from these data of reserve movements in Continental currencies totalling—$23 million, reported by the UK and other countries, was spread over four possiblepartner countries (figures in parentheses).
Columns 2 to 5 show various special transactions, which are explained below, in-cluded in column 1; column 6 shows the residual, after the elimination of these trans-actions, representing largely trade credit.
Column 2: Contra-entries to long-term loans included in Table B-I which representfundings of short-term balances. The amounts converted to long-term loans appeartherefore as short-term repayments by the debtors and as receipts by the creditors.These debt consolidations took place between EPU members at the inception of EPU,but also included is the funding of a US short-term credit to the Philippines.
Column 3: Cumulative credit (—) and debit (+) balances of members with EPU,through which the major part of intra-OEEC trade was cleared, partly by payments indollars and gold, partly by the extension of these balances. Credit balances exceededdebit balances, resulting in a net receipt by EPU.
Column 4: Currency transactions, purchases or repurchases (—), with the IMF,which resulted in net repayments (repurchases) to the Fund.
Column 5: Transactions other than credit. The net inflow into the US mainly fromCanada (Cr. 2, US-oriented) seems to have consisted chiefly of liquid funds. The othertransactions covet' the following: repatriations of various funds from Indonesia to theNetherlands, from unidentified countries to Greece, from the UK to Ireland (Gr. 2,UK-oriented); dividends declared but not paid by Rhodesia (Cr. 2, UK-oriented),owed to the UK; and currency payments for smuggled imports by Taiwan.
Discrepancy: Since the algebraic sum of the net flows of all countries should beequal to zero, the positive sum of column 1 is the discrepancy between the data (identi-cal with the discrepancy shown in Table 2), which indicates nonreported outflows ofthat magnitude. As explained in the text, this discrepancy was assumed to consistlargely of the nonreported credits extended by the Continental OEEC countries ofGroup 1 (except for the discrepancies of columns 2—5; the discrepancy of column 5consists of the US-Canadian discrepancy and the missing partner data of Greece andTaiwan). In other words, it was assumed that the Continent had a much larger outflowthan that shown in column 1, and a large outflow instead of the inflow appearing incolumn 6. In Table 1 the figure for the Continent was therefore built up from thereceipts of the other groups and the net figures here were ignored. For this reasonthe Group I figure in this table cannot be reconciled with that in Table 1, but the netfigures for Groups 2, 3, and 4 are consistent with the respective gross figures in Table 1.See also the notes to Table 1,
APP
END
IX T
AB
LE B
-Vu
Cha
nges
in R
eser
ves a
nd C
orre
spon
dent
Acc
ount
s, Fi
ve-Y
ear T
otal
s, 19
50—
54(m
illio
ns o
f dol
lars
)
Bor
row
ers (
curr
enci
es h
eld)
Tota
lU
SU
KTo
tal
Lend
ers
Cur
renc
yD
olla
rSt
erlin
gO
ther
aG
old
and
(hol
ders
of c
urre
ncie
s)H
oldi
ngs
Res
erve
sR
eser
ves
Cur
renc
ies
Gol
dC
urre
ncie
s
Tota
l6,
942
4,96
41,
251
727
1,93
08,
872
Gro
up 1
3,75
43,
397
—8
365
141
3,89
5US
159
135
24
—2,770
—2,
611
UK
—156
—86
—70
1,200
1,044
Cont
2,917
2,843
—331
405
1,710
4,627
Aus
283
287
b—4
7290
Bel
16
—87
b103
78
94
Fr
542
694
—94
58
53
595
Ger
1,218
1,218
626
1,844
ha
35
216
—194
13
91
126
Nth
—57
28
—43
—42
565
508
Swi
166
166
n.a.
n.a.
9(1
75)
Uni
dep
osits
w/BIS
357
357
357
BIS
214
214
128
342
ECCS
36
36
36
EPU
107
107
153
260
Jpn
834
640
188
61
835
(con
tinue
d)
APP
END
IX T
AB
LE B
-Vu
(con
tinue
d)
Lend
ers
Bor
row
ers (
Cur
renc
ies h
eld)
Tota
lC
urre
ncy
US
Dol
lar
UK
Ster
ling
Oth
er a
Tota
lG
old
and
(hol
ders
of c
urre
ncie
s)H
oldi
ngs
Res
erve
sR
eser
ves
Cur
renc
ies
Gol
dC
urre
ncie
s
Group 2
703
516
121
66
1,169
1,872
Can
331
298
32
1584
915
Chi
—1
—1
-3
2
Isr
—59
43—
102
—59
Ice
24
—2
2Ir
e—
29—
3—
26—
29A
sI76
—5
83—
250
126
NZ
90—
499
—5
696
RFd
9797
299
SM36
25—
213
7210
8D
en80
657
880
Nor
4734
—1
14—
740
Swe
—6
59—
63•—
219
518
9Fi
n10
017
4439
2512
5A
rg—76
—41
—35
155
79
Uru
15
25
—10
84
99
Group 3
176
323
—189
42
241
417
Bra
—302
—110
—192
5—297
Col
131
131
34
165
Cub
8264
C18
—11
3—
31M
ex93
410
103
Pan
1F
1
Ven
88
3139
Gr
7675
—1
25
81Po
r29
34—
525
128
0Tu
r22
—1
23—
1111
Sp59
563
—29
30Y
ug9
54
817
Leb
—3
—3
5047
SB1
—29
—29
dn.
a.(—
29)
Gro
up 4
Inde
pend
ent
—61
379
—43
4—
628
—33
CR
88
8D
om25
258
33EI
S—
3—
74
118.
Gua
11
1
Hai
1313
"—
112
Hon
83c
58
Nic
118
311
Bol
99
—17
—8
Ecu
88
210
Per
23
—1
911
Phi
—38
—38
8—
30Ta
i—
15—
15—
43—
58SK
8787
289
SAr
4444
na.
(44)
Bur
1628
—9
—3
16C
ey—
117
—11
—7
—1
md
—79
22—
91—
10—
79Pa
k—
135
—136
111
—124
Irq
191
8183
191
[by
1014
4C
10
Ins
148
39
114
—5
—94
54
(continued)
APP
END
IX T
AB
LE B
-Vu
(con
clud
ed)
Bor
row
ers
(cur
renc
ies h
eld)
Tota
lU
SU
KTo
tal
Lend
ers
Cur
renc
yD
olla
rSt
erlin
gO
ther
Gol
d an
d(h
olde
rs o
f cur
renc
ies)
Hol
ding
sR
eser
ves
Res
erve
sC
urre
ncie
sG
old
Cur
renc
ies
Gro
up 4
Inde
pend
ent (
cont
.)Th
a78
95—
192
—5
73Et
h36
16—
121
339
Irn
—14
112
—2
—14
3Su
d22
722
Par
22
2Eg
y—
354
—25
—33
12
122
—232
Syr
—14
16
—30
14
—
Gro
up 4
Dep
ende
ncie
s2,
236
13
1,878
345
62
2,298
UK
OT
2,12
45
1,88
923
02,
124
WA
f80
980
980
9EA
f,CA
f,&A
de30
331
630
3M
al a
rea
556
255
455
6HK
162
—25
187
162
WHem
171
11
160
171
0th & Una
123
17
106
123
Una
Dom
inio
n an
d C
olon
ial
secu
ritie
s inc
lude
d in
£Reserves
——
243
243
—
BeIC
144
30
3111
63
207
Nth
OT
1814
4—
1.17
FrO
T &
Por
OT
—50
—36
—14
n.a.
n.a.
(—50
)IM
F, IB
RD
, UN
134
336
—11
7—
8528
942
3
Appendix B 137
NOTES TO APPENDIX TABLE B-Vu
Other currencies consist of net changes in Continental OEEC currencies 461(deposits with BIS, otherwise mainly holdings of OEEC countries and dependencies);Canadian dollars —41 (mainly US and UK); RSA 209 (mainly ®T holdings of Do-niinion and Colonial securities); IBRD bonds 81 (for breakdown, see Appendix TableB-Il, note k); miscellaneous 17.
Included in OEEC currencies (other currencies).Including changes in, or repatriation of, foreign coin and paper currency held in
official institutions and banks, or in circulation.reduction in Iranian Sterling balances (—153) is the residual of the UK figure
for the "Other" Area. Iran reports only —58, but for solar years ending March 20.In the year ending March 20, 1950, a large reduction is reported, however, whichpartly or mainly may have taken place in early 1950. The UK residual figure was,therefore, assumed mainly to refer to Iran, although it includes any changes in SovietBloc Sterling holdings.
n.a. = not available.NOTE: If there is an increase, there is no sign before the fIgure; if a decrease, a
minus sign. See the List of Abbreviations at the end of Appendix B.Discrepancies: The total increase in currency holdings of 6,942 in this table falls
short by 274 of the total increase in liabilities reported by the reserve countries; viz.:United States 122, United Kingdom 141, Other 1-1.
Comparisons to other series: Currency Reserves — IMF, international Reserves and Li-quidity, Washington, 1958, Appendix Table 3 shows 4,400 plus coverage differencesof 1,786 to total 6,186. Difference with Appendix Table B-VII: —586 or 9 per cent,resulting mainly from the inclusion of correspondent accounts, and the exclusion ofpayments agreements balances in Appendix Table B-Vu.
Gold Reserves—Appendix Table B-Vu shows 1,930: the Federal Res, Bulletin (Dec.,1956) shows 1,960; and IMF,InternatjonalFjnancjal Statistics, Dec., 1954 and Feb., 1956(rounded figures) shows 2,000.
138 Appendix B
Statistical Notes to Appendix B
IMF, Balance of Payments Yearbook, Washington, annually, mainlyVolumes 5—8.
SUPPLEMENTARY SOURCES
United States (U.S. Department of Commerce, unless otherwisespecified) — General: Survey of Current Business (Supplement), "Bal-ance of Payments of the U.s. 1919—53" (1954); SCB, June 1956, pp.24—31: SCB Supplement "Balance of Payments of the U.S., 1949—5 1".;SCB Supplement "Balance of Payments" (1958 and 1963). Aid:Foreign Transactions of the U.S. Government, Foreign Aid, April 1952,Tables 9 and' 10; Foreign Grants and Credits &y the U.S. Government,December 1953, 1954, 1955, Tables 6 and 7; Export-Import Bank ofWashington: Semi-Annual Reports to Congress, July—December 1949—54;Statistical Abstract of the U.s. 1956, Table 1112. Portfolio: U.S. TreasuryDepartment, Treasury Bulletin, June 1955, Section II, Tables 3 and 4.Direct Investment: Balance of Payments (SCB Supplement 1963); SCB,January 1954, pp. 5—10; SCB, August 1956, pp. 14—24; The Petro-leum Publishing Company, Oil and Gas Journal, December 1954, 1955.Short-Term: U.S. Treasury Department, Treasury Bulletin, April 1955,July 1956, Section II, 2; andJuly 1956, Section I, 2 (banks); May 1950,June 1951, Section II, 4; March 1955, Section IV, 4 (brokers); July1952—56, Section IV, 1 (nonfinancial concerns). Information andbreakdowns not otherwise available were obtained from Mr. SamuelPizer and Mr. Eugene S. Kerber, whose cooperation is gratefullyacknowledged.
United Kingdom — H.M. Treasury, United Kingdom Balance of Pay-ments 1946—1 957, London, 1959; Cmd. 9119,9291; Bank of England,United Kingdom Overseas Investments, annually; Midland Bank, Ltd.,Press Release on New Capital Issue Statistics, January 1, 1955, and Mid-land Brink Review.
France — Ministère de Finance, Balance de Payements entre Ia ZoneFranc et les Pays Etrangers, annually.
Germany —Monthly Report of the Deutsche Bundesbank, particularlyJune 1961, pp. 42-43.
Canada—Dominion Bureau of Statistics, The Canadian Balance ofInternational Payments in the Post-War Years, 1946—1 952, Ottawa, 1953;The Canadian Balance of International Payments and International In-vestment, Pasition, annually (1953—58).
Appendix B 139
Australia—Commonwealth Bureau of Census and Statistics, An-nual Bulletin of Overseas Investment 1957—58 with Comparative Data for
from 1947—48, New Series No. 3, Canberra.India — Reserve Bank of India, Report on the Survey of India's For-
eign Liabilities and Assets as on 31st December 1953, Bombay, 1955;Report, as on 31st December 1955, Bombay, 1957.
Iraq—Regional distribution of petroleum investment estimated byCornelius Dwyer for NBER.
New Zealand — Department of Statistics, Report on the Official Esti-mates of Balance of Payments for the Year 1950—51; . . . for the Year 1954—
. . for the Year 1 957—58, Wellington.South Africa — South Africa Reserve Bank, The Foreign Liabilities
and Assets of the Union of South Africa, Final Results of the 1956 Census(Suppl. to Quarterly Bulletin of Statistics, December 1958).
Mexico—U.S. Department of Commerce, Investment in Mexico,Washington, 1955, p. 11, Table 16; Comision de la CNIT, EstudioGeneral sobre las Inversiones Extranjeras I, Mexico, 1955, p. 18, Table 3.
Venezuela— Banco Central de Venezuela, Memoria, 1953 and 1957;regional distribution of petroleum investment estimated by Corne-lius Dwyer for NBER.
Israel — Central Bureau of Statistics and Economic Research ofIsrael, Balance of Payments Report (Falk Report), 1957; InternationalFinancial News Service, Vol. III, 27; IV, 20, 26, 42; V, 12, 31, Washing-ton (IMF).
Japan—The Bank of Japan, The Foreign Research Society, Statis-tical Data and List of Principal Cases of Foreign Capital Investment in Japan,annually.
Dependent Overseas Territories—General source: OEEC,EconomicDevelopment of Overseas Countries and Territories Associated with OEECMember Countries, Paris, 1958. UKOT: Cmd. 8243, 8253, 8553, 8856,9169, 9489 (grants and portfolio issues). FrOT: OEEC source, Table44, p. 108; OEEC, 6th Report of the OEEC, Vol. II, Table 53, p. 231and pp. 251—3, Paris, 1955. PorOT: OEEC source, Tables 16, 18,pp. 190—1.
Nonterritorial Organizations — BIS: IMF, International Reservesand Liquidity, Washington, 1958, Appendix Table 3 (Continental de-posits); IMF, International Financial Statistics, February 1954, 1956(reserve tables); Federal Reserve Bulletins (gold). EPU: IMF, Inter-national Financial Statistics, EPU tables 1950—54; Federal Reserve Bulle-tin (gold). IBRD: IMF, International Financial Statistics, February 1956,
140 Appendix B
IBRD table; IBRD, Annual Reports, breakdowns and information nototherwise available were obtained from the staff of the IBRD, whosecooperation is gratefully acknowledged. IMF: IMF, InternationalFinancial Statistics, February 1956, IMF tables; IMF, Annual Reports,Federal Reserve Bulletin (gold).
List of Abbreviations
Ade Aden Cey CeylonAf Africa Chi ChileAfg Afghanistan COEEC Continental OEECAig Algeria Col ColombiaAnt Antilles COT Continental OverseasArg Argentina TerritoriesAsl Australia CR Costa RicaAs1OT Australian Overseas Cub Cuba
Territories Cyp CyprusAus Austria
Den DenmarkBel Belgium including Dom Dominican Republic
LuxembourgBe1C Belgian Congo in- EAf British East Africa
cluding Ruanda- ECA Economic Coopera-Urundi (Belgian tion AdministrationOverseas Territories) ECCS European Communi-
Ber Berlin ty. for Coal and SteelBIS Bank for Interna- Ecu Ecuador
tional Settlements EEur Eastern EuropeanBol Bolivia CountriesBor Borneo Egy EgyptBra Brazil EIS El SalvadorBrG British Guiana EPU European PaymentsBrH British Honduras UnionBur Burma Eth EthiopiaBWI British West Indies Eur Europe
EurI European InstitutionsCAf Central Africa (IEPA or EPU, BIS,CAm Central America and EGGS)Can Canada EXIM Export Import Bank
Appendix B 141
FE Far East Jam JamaicaFin Finland Jor JordanFr France Jpn JapanFrOT French Overseas
Territories Ken KenyaKor Korea
GC Gold CoastGer Germany
LA Latin AmericaGr GreeceLeb LebanonGua GuatemalaLib LiberiaLby LibyaHai Haiti
HK Hong KongHon Honduras Mal Malaya
ME Middle EastMex MexicoIBRD International BankMis Miscellaneousfor ReconstructionMor Moroccoand DevelopmentMSA Mutual SecurityIce Iceland
Ich Indochina Agency
JEPA Intra-European Pay-ments Agreement Nep Nepal
IIAA Institute of Inter- Nic NicaraguaAmerican Affairs Nig Nigeria
Nor NorwayIMF International Mone-NR Northern Rhodesiatary FundNth Netherlandsmd IndiaNthOT Dutch Overseas Ter-Ins Indonesia
Intl International Institu- ritoriesNtO Nonterritorial Organ-tions (UN, IBRD,
IMF) izations (UN, IMF,Ire Ireland IBRD, IEPA, EPU,Irn Iran ECCS, BIS)IRO International Refugee Nya Nyasaland
NZ New ZealandOrganizationlIrq IrajTsr Israel OECD Organization for Eco-Ita Italy nomic CooperationItS Italian Somali and Development
142 Appendix B
OEEC Organization of the Swi SwitzerlandEuropean Economic Syr SyriaCommunity
OOT Other Overseas Ter- Tai Taiwanritories Tha Thailand
OSB1 Other Soviet Bloc Tur Turkeycountries
0th Other Uga UgandaUK United Kingdom
Pak Pakistan UKOT United KingdomPal Palestine Overseas TerritoriesPan Panama UN United NationsPar Paraguay Una UnallocatedPer Peru Uni UnidentifiedPhi Philippines UNICEF United NationsPor Portugal Children's FundPorOT Portuguese Over- UNKRA United Nations
seas Territories Korean ReliefUNRWA United Nations Pales-
RFd Rhodesian Federation tine RefugeesRSA Rest of Sterling Area Uru UruguayRyl Ryukyu Islands US United States
USSR Union of Soviet So-SA Sterling Area cialist RepublicsSAf South AfricaSAr Saudi Arabia Ven VenezuelaSB1 Soviet BlocSin Singapore
WAf British West AfricaSK South KoreaWEur Western EuropeSp SpainWHem Western HemisphereSR Southern Rhodesia
Sud SudanSwe Sweden Yug Yugoslavia