Glossary

Definitions of terms used throughout CountryReports.

This glossary contains 1,144 terms used throughout CountryReports — political, economic, cultural, historical, and geographic terminology referenced in country profiles and articles. Terms are drawn from authoritative sources including the Library of Congress.

dinar: Basic currency unit consisting of 1,000 fils; created in 1950 as replacement for the Palestinian pound. Dinar’s value was established at parity with the British pound sterling, or a value of US$2.80 equal to JD1. Jordan, as a member of the sterling area, maintained parity with the British pound until 1967 when the British devalued their currency. Jordan did not follow the pound, retaining the dinar at US$2.80 equal to JD1 through 1972. When United States currency was devalued in 1973, the dinar was unlinked from the dollar, since which time the rate has fluctuated. Beginning in February 1975, the dinar was pegged to the special drawing right (SDR--q.v.). According to International Monetary Fund (IMF--q.v.) data, the average conversion rate of the dinar for trade and other purposes was US$3.04 in 1987, US$2.1 in 1988, and US$1.54 in 1989.
IMF (International Monetary Fund): Established along with the World Bank (q.v.) in 1945, the IMF is a specialized agency affiliated with the United Nations that takes responsibility for stabilizing international exchange rates and payments. The main business of the IMF is the provision of loans to its members when they experience balance of payments difficulties. These loans often carry conditions that require substantial internal economic adjustments by the recipients.
International Monetary Fund (IMF): Established on December 27, 1945, the IMF began operating on March 1, 1947. The IMF is a specialized agency affiliated with the United Nations that takes responsibility for stabilizing international exchange rates and payments. The IMF’s main business is the provision of loans to its members when they experience balance of payments difficulties. These loans often carry conditions that require substantial internal economic adjustments by the recipients. The IMF’s capital resources comprise Special Drawing Rights and currencies that the members pay under quotas calculated for them when they join. These resources are supplemented by borrowing. In 1993 the IMF had 167 members.
Uganda shilling: USh; basic unit of currency divided into 100 cents. The Uganda shilling was introduced in 1966 and was tied to the United States dollar until 1975, when its value was tied to the special drawing right (SDR; q.v.) of the IMF (q.v.). I
World Bank: Name used to designate a group of four affiliated international institutions that provide advice on long-term finance and policy issues to developing countries: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The IBRD, established in 1945, has the primary purpose of providing loans to developing countries for productive projects. The IDA, a legally separate loan fund administered by the staff of the IBRD, was set up in 1960 to furnish credits to the poorest developing countries on much easier terms than those of conventional IBRD loans. The IFC, founded in 1956, supplements the activities of the IBRD through loans and assistance designed specifically to encourage the growth of productive private enterprises in less developed countries. The president and certain senior officers of the IBRD hold the same positions in the IFC. The MIGA, which began operating in June 1988, insures private foreign investment in developing countries against such non-commercial risks as expropriation, curl strife, and inconvertibility. The four institutions are owned by the governments of the countries that subscribe their capital. To participate in the World Bank group, member states must first belong to the IMF (q.v.).; Source: Library of Congress