Contents
|
| I. |
Introduction |
|
| II. |
Purposes of the CFF |
|
| III. |
Modifications to the CFF in 2000 |
|
| IV. |
Policy Issues for Review |
| |
A. |
Three Premises on which the CFF is Based-Do
They Still Hold?
|
| |
B. |
The Case for Further Redesign of the CFF
|
| |
C. |
Concluding Thoughts
|
| V. |
Issues for Discussion |
|
| Boxes |
| 1. |
The CFF-Current Features and Recent Modifications |
| 2. |
Recent Findings on Commodity Price Shocks |
| 3. |
Reforms of the CFF Proposed in Other Fora |
|
| Figures |
| 1. |
Compensatory Financing Facility, Incidence and
Access |
| 2. |
Capital Inflows |
|
| Table |
| 1. |
The Nature of Compensatory Financing Facility
Assistance, 1990-2003 |
|
| Annex I. Analysis of the Southern African
Cereal Import Shock |
|
| Tables |
| 1. |
Impact of the Cereal Supply Shock |
| 2. |
Response to the Cereal Shock |
|
| Annex II. The Shock of September 11, 2001 |
|
| Figures |
| 1. |
September 11 Shock: Projected Export Shortfall
in 2002 |
| 2. |
September 11 Shock: Number of Countries and
Size of Projected Shortfall |
|
| Annex III. CFF-Criteria to Determine a Satisfactory
Balance of Payments Position |
|
