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Compensatory finance to stabilise export earnings

Briefing/policy papers

This Briefing Paper deals with the two currently operative schemes designed to compensate for export earnings fluctuations: the IMF's Compensatory Financing Facility (CFF) and the European Communities' Export Earnings Stabilisation Scheme (STABEX). The paper notes the greater difficulty developing countries (LDCs) have in dealing with such fluctuations. It considers the limitations of the schemes and looks at future prospects for LDCs.