Traduction de «multilateral payments and monetary arrangements » (Anglais → Français) :

31. Notes that the Trade Integration Mechanism (TIM) of the International Monetary Fund (IMF), which was devised in 2004 to help countries experiencing balance of payments difficulties to cope with the effects of trade liberalisation, is subject to usual IMF policy conditionality and terms of lending, and may therefore be unsuitable for countries that are already highly indebted and/or do not wish to have an IMF programme; acknowledges with concern that this is the only specific ...[+++]available multilateral mechanism for trade-related adjustment, and that it has to date only been utilised by three countries, namely Bangladesh, the Dominican Republic and the Republic of Madagascar;

31. Notes that the Trade Integration Mechanism (TIM) of the International Monetary Fund (IMF), which was devised in 2004 to help countries experiencing balance of payments difficulties to cope with the effects of trade liberalisation, is subject to usual IMF policy conditionality and terms of lending, and may therefore be unsuitable for countries that are already highly indebted and/or do not wish to have an IMF programme; acknowledges with concern that this is the only specific ...[+++]available multilateral mechanism for trade-related adjustment, and that it has to date only been utilised by three countries, namely Bangladesh, the Dominican Republic and the Republic of Madagascar;

(g) the Counterparty is suspended or expelled from membership of any payment system or arrangement through which payments under monetary policy transactions are made or (except for foreign exchange swap transactions) is suspended or expelled from membership of any securities settlement system used for the settlement of Eurosystem monetary policy transactions; or

3. The relevant contractual or regulatory arrangements applied by the NCB should stipulate that all payments relating to monetary policy operations (other than foreign currency payments in foreign exchange swap agreements) should be in euro.

(3) Whereas this Directive aims at contributing to the efficient and cost effective operation of cross-border payment and securities settlement arrangements in the Community, which reinforces the freedom of movement of capital in the internal market; whereas this Directive thereby follows up the progress made towards completion of the internal market, in particular towards the freedom to provide services and liberalisation of capital movements, with a view to the realisation of Economic and Monetary ...[+++] Union;

(5) Whereas the introduction of the aforementioned system of compensatory payments per hectare renders it appropriate to lay down a base area per producing Member State; whereas that determination should reflect the area cultivated during the last year of production available in statistical terms; whereas, however, in order to take account of drought, in the case of Spain and Portugal it is appropriate to take account of the last year available by region except for regions affected by drought, where the last year before the drought is taken into account; whereas as regards French Guiana it is appropriate to lay down the base area in a ...[+++]ccordance with the one which is the subject of the arrangements provided for in Article 3 (2) of Regulation (EEC) No 3763/91 introducing specific measures in respect of certain agricultural products for the benefit of the French overseas departments (3); whereas such a determination makes it possible to maintain production objectives compatible with the requirements of the market and to comply with the undertakings accepted under the Uruguay Round of multilateral trade negotiations concerning trade exports; whereas compliance with the base area can be ensured, in the event of overshooting, by reducing the aid sufficiently to dissuade producers from exceeding the maximum;