Financial systems and development
Financial systems and development
Financial systems and development
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Current account balance<br />
(millions of dollars) 'Vet Gross international reserves<br />
After Before wo.rkers' Net direct In months<br />
official official remittances private investment oipr<br />
transfers transfers (millions of dollars) (millions of dollars) Millions of dollars cofvmpc<br />
1970 1987 1970 1987 19 70 1987 1970 1987 1970 _1987 1987<br />
68 Pens 202 -1,914 146 - 1.419 .... -70 22 339 1,319 3.2<br />
69 Mauritiuss 8 72 5 47 . . 2 44 46 362 3.5<br />
70 Jordlan -20 -350 -130 -350 .. 844 .. 33 258 910 2.6<br />
71 Costa Rica -74 -225 -77 -377 ... 26 65 16 519 3.3<br />
72 Syrian Aab Rep. -69 -465 -72 -1,365 7 250 . . 57 403 1.3<br />
73 Malaysia 8 2,336 2 2,170 .... 94 575 667 8,573 5.5<br />
74 Mexico - 1,068 3,884 -1,098 3,509 . . 323 3,248 756 13,692 6.2<br />
75 SouthbAfrica -1,215 3,027 -1,253 2,911 . . 318 28 1,057 3,463 1.9<br />
76 Pol<strong>and</strong> .. -578 .. -578 . ... .. 1,723 1.4<br />
77 Lebanon .. . .. . .. .. 405 4,832<br />
Upper-middle-income 9,582 t 68,852 t 3,7 w<br />
78 Brazil -837 -1,275 -861 -1,275 . . 407 582 1,190 7,477 3.0<br />
79 Uruguay -45 - 124 -55 - 132 . -5 186 1,793 12.0<br />
80 Hungary -61 -676 -61 -676 . . .... 697 3,067 2.9<br />
81 Panama -64 342 -79 229 ... 33 - 72 16 78 0.2<br />
82 Argentina -163 -4,285 -160 -4,285 . 11 -19 682 3,734 3.5<br />
83 Yugoslavia -372 819 -378 819 441 3,721 . . 143 1,602 1.2<br />
84 Algeria -125 -406 -163 -406 178 434 45 -20 352 4.343 4.5<br />
85 Korea, Rep. -623 9,854 -706 9,835 . . 66 418 610 3,739 0.9<br />
86 Gabon -3 -210 -15 -231 -8 -143 -1 121 15 18 0.1<br />
87 Portugal - 158' 641 - 158a 309 523a 3.243 Isa 306 1,565 13,039 9.9<br />
88 Venezuela -104 - 1,125 -98 -1,103 -87 -34 -23 21 1,047 11,510 10.1<br />
89 Greece -422 - 1,298 -424 -2,963 333 1.334 50 683 318 4,299 3.6<br />
90 Trinidad <strong>and</strong> Tobago -109 -184 -104 -184 3 .. 83 -22 43 214 2.8<br />
91 Libya 645 -54 758 -13 -134 -446 139 -80 1.596 7,581 15.4<br />
92 Oman .. -966 .. -966 . -849 .. 138 13 1,542 3.6<br />
93 Iran, Islamic Rep. -507 .. -511 . . 25 .. 217<br />
94 Iraq 105 .. 104 .. .. 24 .. 472<br />
95 Romania -23 1,489 -23 1,489 . ... .. 1,851 1.9<br />
Low- <strong>and</strong> middle-income<br />
20,279 t 183,670 t 3.8 w<br />
Sub-Saharan Africa 2,028 t 8,030 t 2,1 w<br />
East Asia 2,885 t 50,401 t 3.9 w<br />
South Asia<br />
1,4531t 14,547 t 4.6 w<br />
Europe, M.East, & N.Africa 7,375 t 56,700 t 3.4 w<br />
Latin America & Caribbean 5,481 t 50,529 t 4.7 w<br />
17 highly indebted 5,958 t 54,295 t 4,1 w<br />
High-incomeconomies 75,457 t892,235 t 4.2 w<br />
OECD members 72,938 t 832,318 t 4.1 w<br />
fOther 2,519 t 59,917 t 6.0 w<br />
96 Spain 79 -51 79 -412 469 1,210 179 3,814 1,851 36,439 7.4<br />
97 Irel<strong>and</strong> -198 391 -228 -1.087 ... 32 .. 698 4,970 3.0<br />
98 tSaudi Arabia 71 -9.571 152 -6.270 -183 -4,935 20 -1,175 670 24,909 7.9<br />
99 tlsrael -562 -999 -766 -4,495 . .. 40 148 452 6,368 3.9<br />
100 New Zeal<strong>and</strong> -232 -1,368 -222 -1,304 16 221 137 104 258 3,270 3.5<br />
101 (Singapore -572 539 -585 561 . . 93 982 1.012 15.227 5.0<br />
102 tHong Kong 225 1,199 225 1,199 . . 282 . .<br />
103 Italy 774 -1,059 1,096 1,213 446 1,214 498 1.742 5.547 62.489 4.8<br />
104 United Kingdom 1,913 -2,621 2,316 2,738 . . -190 -16,345 2,918 50,918 2.4<br />
105 Australia -777 -8,688 -682 -8.611 .... 778 57 1,709 12,584 3.5<br />
106 Belgiume 717 2,920 904 4,203 39 4 140 -411 2,947 25,899 2.6<br />
107 Netherl<strong>and</strong>s -483 3,372 -511 4,427 -49 -236 -15 -5,505 3,362 37,275 3.8<br />
108 Austria -75 -226 - 73 -155 -7 257 104 134 1,806 17,769 4.7<br />
109 France -204 -4,088 18 -1,030 -641 -2,055 248 -4,000 5,199 72,675 4.0<br />
110 Germany, Fed. Rep. 852 44,956 1,899 55,599 -1,366 -3,673 -303 -7,064 13,879 124,834 5.0<br />
III Finl<strong>and</strong> -239 -1,938 -232 -1,633 . . -41 -809 455 7,364 3.5<br />
112 tKuwauit 853' 4.414 853a 4.572 .. -1,102 -8 -93 209 5,371 6.8<br />
113 Denmark -544 -2.951 -510 -2,798 . 75 . 488 10.854 3.3<br />
114 Canada 1,056 -7.963 739 -7,498 . .. 566 -922 4.733 16.242 1.6<br />
115 Sweden -265 -853 -160 160 . -16 -104 -2.844 775 11,112 2.4<br />
116 Japan 1.980 87,660 2.160 90,410 . . -260 -18.330 4.876 92.702 5.2<br />
117 (United Arab Emirates 75' 6,486 75a 6,486 .... 4- 5,121 5.7<br />
118 Norway -242 -4,111 -200 -3,337 . -55 32 -846 813 14,850 5.0<br />
119 UnitedStates 2,330 -153,950 4,680 -141.760 -650 -890 -6.130 -2,470 15,237 161,738 3.4<br />
120 Switzerl<strong>and</strong> 72 5.879 114 5,834 -313 -1.413 . 26 5,317 67,791 10.2<br />
Total reporting economies 95,736 t l,075,906 t 4.1 w<br />
Oil exporters 7,082 t 103,724 t 5.4 w<br />
Nonreporting nonmembers<br />
a. World Bunk estimates. b. Includes Luxembourg.<br />
199
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