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November 12, 2019 

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INTER-AMERICAN DEVELOPMENT BANK: A regional multilateral development institution established 1959 to help accelerate economic and social development in Latin America and the Caribbean. The Bank provides loans and technical assistance using capital provided by its member countries, as well as resources obtained in world capital markets through bond issues. The Bank is owned by its 46 member countries: 26 borrowing member countries in Latin America and the Caribbean, and 20 nonborrowing countries, including the United States, Japan, Canada, 16 European countries, and Israel. The Inter-American Development Bank has its headquarters in Washington, DC.

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PAPER CURRENCY: Paper usually issued by the national government that are used as money. Metal coins are also frequently included under the generic heading of currency. Currency in the U.S. economy is issued by the Federal Reserve System (paper) and the U.S. Treasury (coins). This constitutes about 30 to 40 percent of the M1 money supply. Most modern currency is fiat money.

     See also | money | M1 | checkable deposits | money supply | Federal Reserve System | fiat money | Federal Reserve note | gold certificate | silver certificate |


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BALANCE OF TRADE

The difference between the value of goods and services exported out of a country and the value of goods and services imported into the country. The balance of trade is the official term for net exports that makes up the balance of payments. The balance of trade can be a "favorable" surplus (exports exceed imports) or an "unfavorable" deficit (imports exceed exports). The official balance of trade is separated into the balance of merchandise trade for tangible goods and the balance of services.

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Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for cardboard boxes.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"The art of leadership is saying no, not yes. It is very easy to say yes. "

-- Tony Blair, British prime minister

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