Compensatory financing arrangements
Compensatory financing arrangements: intergovernmental schemes designed to minimize the effects of shortfalls in commodity export earnings and export earning fluctuations, particularly those of developing countries heavily dependent on commodity exports. Access to the main arrangement, the IMF Compensatory and Contingency Financing Facility, is subject to a range of conditions largely aimed at promoting structural adjustment and improvements in the balance of payments. The STABEX and SYSMIN schemes, which were available to ACP states under the Lomé Convention, have not been renewed in the ACP-EC Partnership Agreement. Some budgetary assistance is still available to ACP countries heavily dependent on export earnings from agricultural and mineral products if losses in earnings are likely to jeopardize macroeconomic stability. See also Common Fund for Commodities.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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