ABSTRACT
Dissatisfaction with the risks and frustrations and ultimate inadequacy of commodity agreements has led to a search for other ways of tackling the export problem. This has given rise to a series of widely discussed proposals which can be embraced under the name of international compensatory-finance (cf) schemes. Probably the first systematic proposal of this type was F. G. Olano’s ‘Mutual Insurance Scheme’ outlined in an appendix of a un publication. (1953: pp. 97–102.) In recent years several varieties have been discussed widely in meetings and official documents of the un, the imf, the oas and several academic publications. 1
