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Diplomacy in Action

Some Frequently Used Acronyms


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ADB - Asian Development Bank
BIS - Bank for International Settlements
CACM - Central American Common Market
CARICOM - Caribbean Common Market
CAP - Common Agricultural Policy (of the EU)
CCC - Commodity Credit Corporation (Department of Agriculture)
EBRD - European Bank for Reconstruction and Development
EFTA - European Free Trade Association
EMS - European Monetary System (of the EU)
ERM - Exchange Rate Mechanism (of the EU)
ESAF - Enhanced Structural Adjustment Facility
EU - European Union
EXIMBANK - U.S. Export-Import Bank
FOREX - foreign exchange
FY - fiscal year
GATS - General Agreement on Trade in Services
GATT - General Agreement on Tariffs and Trade
GDP - gross domestic product
GNP - gross national product
GSP - Generalized System of Preferences
IBRD - International Bank for Reconstruction
and Development (World Bank)
IFIs - international financial institutions (IMF, World Bank and regional development banks)
ILO - International Labor Organization (of the United Nations)
IMF - International Monetary Fund
IDB - Inter-American Development Bank
IPR - intellectual property rights
LIBOR - London Interbank Offer Rate
MFN - most favored nation
NAFTA - North American Free Trade Agreement
NGOs - non-government organizations
NIS - Newly Independent States (of the former Soviet Union)
OECD - Organization for Economic Cooperation and Development
OPIC - U.S. Overseas Private Investment Corporation
PTT - Post, Telegraph and Telephone
SAP - Structural Adjustment Program (of the IMF/World Bank)
SDR - Special Drawing Rights (of the IMF)
STF - Structural Transformation Facility
RIPs - WTO Agreement on Trade-Related Aspects of Intellectual Property Rights
UR - Uruguay Round of trade negotiations in the GATT
USD - U.S. Dollar
VAT - value-added tax
WIPO - World Intellectual Property Organization
WTO - World Trade Organization

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