Compensation for Shortfalls of Export Receipts

Up to this point, this study has been concerned with policies to increase the export earnings of developing countries, or at least to reduce fluctuations, by measures affecting the volume or price of exports. An alternative approach is through direct, financial compensation for shortfalls of export earnings. This is the approach followed in the IMF Compensatory Financing Facility and suggested in the IBRD staff study of 1965 on the UNCTAD I Supplementary Financial Measures (SFM) proposal, and in the scheme of the European Economic Commission for stabilizing the earnings from exports to the EEC of certain commodities by the African, Caribbean and Pacific countries which have entered into a broad economic agreement with the Community.


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