Glossary -- Ivory Coast
- barrels per day (bpd)
- Production of crude oil and petroleum products is frequently
measured in barrels per day, often abbreviated "bpd" or "bd." A
barrel is a volume measure of forty-two United States gallons.
Conversion of barrels to tons depends on the density of the
specific product. About 7.3 barrels of average crude oil weigh one
ton; gasoline and kerosene average closer to 8 barrels per ton.
- During the colonial era, referred to a group of neighboring
villages linked either by ethnicity or by direct family ties.
- CFA franc
- The African Financial Community (Communauté Financière
Africaine) franc, the currency of Côte d'Ivoire. In 1988 CFA F315
equaled US$1. The CFA, an organization that includes France and
most former French colonies in Africa, administers currency policy
in the franc zone. As of 1988, the CFA maintained a currency parity
between French francs (FF) and the CFA francs of West Africa at the
rate of 1 FF = 50 CFA F. Issuing the CFA francs is the Central Bank
of West African States (Banque Centrale des Etats de l'Afrique de
l'Ouest--BCEAO), which is based in Paris.
- French technical assistants and teachers under contract to the
Ivoirian government for a fixed period. Coopérants
generally received higher salaries than local counterparts and were
exempted from many customs regulations. Until 1986 the Ivoirian
government assumed responsibility for paying coopérants;
after 1986 their salaries were included in the foreign aid provided
- Literally, "customs, mores, or practices." Fixed, annual fees
paid by colonial authorities to local rulers to secure trading
rights or permission to establish permanent settlements. Payment of
coutumes constituted a de facto recognition of lower
status and ceased when the colonial administration felt it could
impose its will on local chiefs.
- fiscal year (FY)
- the calendar year.
- French West Africa (Afrique Occidentale
- The collection of territories under French colonial rule until
1960. French West Africa comprised what in 1988 was Mauritania,
Mali, Burkina Faso, Guinea, Côte d'Ivoire, Niger, Togo, and Benin.
- gross domestic product (GDP)
- A measure of the value of domestic goods and services produced
by an economy over a period of time, such as a year. Only output
values of goods for final consumption and investment are included
because the values of primary and intermediate production are
assumed to be included in final prices. GDP is sometimes aggregated
and shown at market prices, meaning that indirect taxes and
subsidies are included; when these have been eliminated, the result
is GDP at factor cost. The word gross indicates that
deductions for depreciation of physical assets have not been made.
- gross national product (GNP)
- The gross domestic product (q.v.) plus net income or
loss stemming from transactions with foreign countries. GNP is the
broadest measure of the output of goods and services by an economy.
- Refers to denizenship and rights of natives. In colonial French
West Africa, the colonial system of discipline characterized by
arbitrary and summary judgments accorded Africans living in rural
areas. The indigénat was abolished in 1946.
- International Monetary Fund
- Established along with the World Bank (q.v.) in 1945,
the IMF is a specialized agency affiliated with the United Nations
and is responsible for stabilizing international exchange rates and
payments. The main business of the IMF is the provision of loans to
its members (including industrialized and developing countries)
when they experience balance of payments difficulties. These loans
frequently carry conditions that require substantial internal
economic adjustments by the recipients, most of which are
- London Club
- A noninstitutional framework within which bank advisory
committees conduct negotiations between debtor countries and the
private banks holding the loans. The advisory committees form in
response to requests for debt restructuring and consist of
individuals representing major loan holders in the key creditor
countries. The London Club typically reschedules principal falling
due and principal in arrears; interest is not covered by any
agreement and must be paid along with any outstanding arrearages
before any agreement can take effect.
- Paris Club
- A noninstitutional framework whereby developed nations that
have made loans or guaranteed official or private export credits to
developing nations meet to discuss borrowers' ability to repay
debts. The organization, which met for the first time in 1956, has
no formal or institutional existence and no fixed membership. Its
secretariat is run by the French treasury, and it has a close
relationship with the World Bank (q.v.), the International
Monetary Fund (q.v.), and the United Nations Conference on
Trade and Development (UNCTAD).
- Western Sudan
- That part of French West Africa (q.v.) comprising in
1988 the state of Mali.
- World Bank
- Informal name used to designate a group of three affiliated
international institutions: the International Bank for
Reconstruction and Development (IBRD), the International
Development Association (IDA), and the International Finance
Corporation (IFC). The IBRD, established in 1945, has the primary
purpose of providing loans to developing countries for productive
projects. The IDA, a legally separate loan fund but administered by
the staff of the IBRD, was set up in 1960 to furnish credits to the
poorest developing countries on much easier terms than those of
conventional IBRD loans. The IFC, founded in 1956, supplements the
activities of the IBRD through loans and assistance designed
specifically to encourage the growth of productive private
enterprises in the less-developed countries. The president and
certain senior officers of the IBRD hold the same positions in the
IFC. The three institutions are owned by the governments of the
countries that subscribe their capital. To participate in the World
Bank group, member states must first belong to the International
Monetary Fund (IMF--q.v.).