TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 DEF

The replacement of an import by nationally produced goods.  3, record 1, English, - import%20substitution

Record number: 1, Textual support number: 1 OBS

A common policy where foreign exchange is very scarce and where importers have developed the local market.  4, record 1, English, - import%20substitution

Record 1,  Textual support,  French

Record number: 1, Textual support number: 1 DEF

Substitution des marchandises d'origine nationale aux marchandises importées.  4, record 1, French, - remplacement%20des%20importations

Record 1,  Textual support,  Spanish

Record number: 1, Textual support number: 1 DEF

Reemplazo de importaciones por productos de fabricación nacional.  2, record 1, Spanish, - sustituci%C3%B3n%20de%20importaciones

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 CONT

Amongst corporate bodies, the government is the main body responsible for fiscal policy, the central bank is chiefly responsible for monetary policy and the exchange equalization fund chiefly responsible for foreign exchange policy.  1, record 2, English, - exchange%20equalization%20fund

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 CONT

Création d'un fonds de péréquation des changes. [...] Il est créé un fonds intitulé «fonds de péréquation des changes» destiné à couvrir les pertes découlant de la variation du taux de change subies par les banques et les établissements financiers à l'occasion du remboursement de leurs emprunts extérieurs.  1, record 2, French, - fonds%20de%20p%C3%A9r%C3%A9quation%20des%20changes

Record 2,  Textual support,  Spanish

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 CONT

Pegging the exchange rate to the dollar does not make monetary policy credible, as the resounding disaster in Mexico makes clear.... monetary policy was too loose in 1994 and was inconsistent with the peso pegged at 3. 5 to the dollar. Foreign reserves left the country until the peg had to be abandoned.  1, record 3, English, - peg%20the%20exchange%20rate%20to%20the%20dollar

Record 3,  Textual support,  French

Record 3,  Textual support,  Spanish

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 CONT

In order to isolate the direct effects of intervention operations on the exchange market from those of monetary policy operations, the Working Group considered the distinction between sterilised and unsterilised intervention... If, on the other hand, the change in the authorities’ net foreign currency assets is accompanied by a corresponding change in their monetary liabilities(so that, for instance, a reduction in foreign currency reserves would result in a reduction in the monetary base), the intervention is said to be unsterilised.  1, record 4, English, - unsterilised%20intervention

Record 4,  Textual support,  French

Record number: 4, Textual support number: 1 CONT

Afin d'isoler les effets directs des interventions sur le marché des changes, de ceux produits par les actions de politique monétaire, le groupe de travail a examiné la distinction entre interventions stérilisées et non stérilisées. (...) Si, au contraire, la modification des avoirs nets en devises s'accompagne d'une modification correspondante des engagements de caractère monétaire des autorités monétaires (par exemple, une diminution des réserves de change se traduisant par une diminution de la base monétaire), on dit que l'intervention est «non stérilisée».  1, record 4, French, - intervention%20non%20st%C3%A9rilis%C3%A9e

Record 4,  Textual support,  Spanish

Record 5,  Textual support,  English

Record number: 5, Textual support number: 1 OBS

An earlier version of this study was presented to the Working Group on Exchange Market Intervention established at the Versailles Summit of Heads of State and Government in June 1982. The Group was charged to look into the effectiveness and advisability of official intervention in foreign exchange markets as a tool of economic policy.  1, record 5, English, - Working%20Group%20on%20Exchange%20Market%20Intervention

Record 5,  Textual support,  French

Record number: 5, Textual support number: 1 OBS

Une version antérieure de la présente étude a été soumise au Groupe de travail sur les interventions sur les marchés des changes, qui a été constitué au Sommet des chefs d'État et de gouvernement réunis à Versailles en juin 1982. Le Groupe avait été chargé d'étudier si l'intervention officielle sur les marchés des changes était un instrument de politique économique efficace et désirable.  1, record 5, French, - Groupe%20de%20travail%20sur%20les%20interventions%20sur%20les%20march%C3%A9s%20des%20changes

Record 5,  Textual support,  Spanish