inconvertibility

Inconvertibility is generally regarded as the final stage in the development of the bank note or paper money.

But the most serious deterrent to American and other foreign investment is the inconvertibility of the ruble.

Inconvertibility of foreign currency or the inability to repatriate funds.

For example, price control, inconvertibility of the ruble, and government control over most means of production continued.

Coverage includes losses for non-payment, currency inconvertibility, asset expropriation and political violence.

These have resulted in inconvertibility of the Belarusian ruble for the current transactions since March 1998.

The reforms decentralized things to some extent, although price controls remained, as did the ruble's inconvertibility and most government controls over the means of production.

With concerts and tours for bands, difficulty arises with the inconvertibility of the Russian rouble into hard currency, although the government promises to change this.

Currency inconvertibility in turn dictated bilateral balancing of accounts, which has been one of the basic objectives of intergovernmental trade agreements among members.

Insures U.S. investors, contractors, exporters and financial institutions against political risk, currency inconvertibility and expropriation.

OPIC helps U.S. investors protect their investments in a variety of situations, including political violence, expropriation or other government interference, and currency inconvertibility.

The absurdities of the system are legion: rigid centralism (which disconnects supply from demand), arbitrary price formation, a primitive understanding of the character and functions of private ownership, inconvertibility of currencies, swollen bureaucratic apparatuses.

The member countries recognized that the multiplicity and inconsistency of their administered exchange rates, the separation of their domestic prices from foreign prices, and the inconvertibility of their currencies were significant obstacles to multilateral trade and cooperation.

Although the bank provided a centralized mechanism of trade accounting and swing credits to cover temporary imbalances, it could not establish a system of multilateral clearing because of the centrally planned nature of the members' economies and the inconvertibility of their currencies.

Gorbachev's reforms were largely a top-down attempt at reform, and maintained many of the macroeconomic aspects of the command economy (including price controls, inconvertibility of the ruble, exclusion of private property ownership, and the government monopoly over most means of production).

Protecting Companies For the insurance protection it offers American companies against nationalization, civil disorder, political unrest, inconvertibility and other foreign investment risks, it charges fees that last year gave it record net income of $122 million, increasing its reserves in the Treasury to nearly $1.5 billion.

The reforms made some inroads in decentralization, but Gorbachev and his team left intact most of the fundamental elements of the Stalinist system, including price controls, inconvertibility of the ruble, exclusion of private property ownership, and the government monopoly over most means of production.

Specifically, MIGA has provided a US$86 million guarantee to Fortis Bank of Belgium against the risks of expropriation, breach of contract, war and civil disturbance, as well as transfer inconvertibility in both Laos and Thailand.