Page:CREST-Allendes Chile Supply Demand Gap.pdf/23

Approved For Release 2006/04/19 ; CIA-RDP85T00875RO01700040058-3
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Table 4

 

Chile: Balance-of-Payments Projections

	Million US$
	1972[1]	1973
Exports (f.o.b.)	900	850
Of which:
Copper	680	680[2]
Imports (c.i.f.)	-1,325	-1.040[3]
Trade balance	425	190
Investment income	-40	-40[4]
Other services	-20	-20
Balance on current account	-485	-250
Direct investment	0	0
Long-term capital	150	100[5]
Short-term capital (including errors and omissions)	69	0[6]
Balance on capital account	219	100
Total balance of payments	-266	-150
SDR allocation	17	17
Changes in net reserves	-249	-133
Financing of reserve losses
Increase in current liabilities	115	93
IMF loans	50	43[7]
Soviet hard-currency credits	60	50[8]
Other	5	0
Drawdown on assets	134	40
Total net reserves (end of year)	-210	-343
Assets	80	40
Gold	51	11[9]
Foreign exchange	29	29
Other	0	O
Liabilities	-290	-383
IMF	-86	-129
USSR	-60	-110
Foreign government	-70	-70[10]
Commercial banks	50	50
Other liabilities	-24	-24
For explanatory footnotes. see Table 3, above. Assuming no change in copper prices or output during 1973. Calculated as a residual d. Assuming resumption of interest payments to some non-US creditors. Assuming repayments to selected creditors. Assuming roll-over of outstanding short-term credits, but no net increase. Assuming receipt of full credit tranche. Assuming an additional $50 million in hard currency credit: from the USSR in early 1973. Assuming that some gold is pledged as collateral for loans or sold. From past debt refinancing.

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Approved For Release 2006/04/19 ; CIA-RDP85T00875RO01700040058-3
SECRET