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The introduction of exchange controls and their implications for the less developed countries in the Overseas Sterling Area

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This paper considers the implications of the recent introduction of exchange controls on transactions with the Overseas Sterling Area (OSA). The paper concludes that since most UK portfolio investment in the OSA is directed towards developed OSA countries, chiefly Australia and South Africa, it is unlikely that the less developed countries (LDCs) will be significantly or adversely affected by the measures.