In previous bienniums, bank charges were shown as a net amount after the interest income had been offset against the charges under Investment Management Service.

Figure II. Aggregate net long term financial transfers

This reflects the fact that the multilateral financial institutions are no longer providing net financial resources to developing countries, but are currently net recipients of financial resources.

During 2004, repayments of 148,278 were received net of agency collection fees and charges of 13,196.

During 2004, repayments of 148,278 were received net of Agencies collection fees and charges of 13,196.

a Net transfers are defined as loan disbursements less principal repayments prepayments and interest charges received.

II. TRENDS IN THE NET FINANCIAL TRANSFER TO DEVELOPING

11 The net transfer on financial resources is defined as the difference between net capital inflows and net international payments to capital.

The increase in net financial outflows from that group of countries and the fact that the multilateral financial institutions had become net financial transfer recipients were a cause of grave concern.

II. TRENDS IN THE NET FINANCIAL TRANSFER TO DEVELOPING COUNTRIES

payment of charges to a financial institution in Norway for the maintenance of accounts.

Table 3 Selected multilateral financial institutions net transfers of resources, 1990 2004a

Perversely, some developing countries have now become net exporters of financial resources.

This means that the multilateral financial institutions are no longer providing net financial resources to developing countries, but are currently net recipients of financial resources that are needed by these countries to achieve the Millennium Development Goals.3

Opposite charges attract, like charges repel.

Carrying charges, my boy. Carrying charges.

A preliminary year end financial report, including UPL charges only in part, was provided in May 2005.

(v) Deferred charges normally comprise expenditure items that are not properly chargeable to the current financial period.

These charges also include packing, crating and handling charges, and shipment consolidation charges in addition to direct transportation charges.

In paragraph 30 of its report, the Board recommended that UNU complete its reconciliation of the deferred charges and accordingly record expenditures in the appropriate financial periods to ensure that expenditures classified as deferred charges pertained only to future financial periods.

The net financial transfer of a country is thus the financial counterpart to the balance of trade in goods and services.

Multilateral financial institutions had become net recipients of financial resources from developing countries, as loan repayments had started to outstrip loan disbursements.

Several discussants noted the continued net transfer of financial resources from developing to developed countries.

Despite economic difficulties, some African countries continued to experience positive net inflows of financial resources.

Charges?

22. ODF has increased (in terms of current prices) faster than all other net financial flows.

In 1993, nearly half the net financial transfer went into reserves (see table 1 below). English

In the same period, the accumulated net transfer on a financial basis was around 3.5 billion.

11. The cost estimate for the 12 month period amounting to 134,814,000 gross ( 130,450,000 net) reflects a decrease of 7,470,000 gross ( 7,244,000 net) from the appropriation of 142,284,000 gross ( 137,694,000 net) for the current financial period.

Since 1997, net outward transfer of financial resources from poor countries to rich countries has steadily increased, while net official flows to all developing countries remained negative.

However, net transfer of capital was a relevant measure of the extent to which developing countries and transition economies as a whole were net financial flow recipients.

Expenditures are estimated at 2,388,400 gross ( 2,276,300 net) resulting in an unencumbered balance of appropriations amounting to 1,142,200 (gross and net) for the period. III. FINANCIAL ADMINISTRATION

(iii) Expenditures for future financial periods are not charged to the current financial period and are recorded as deferred charges, as referred to in paragraph (l) (v) below

13. Deferred charges comprise expenditure items which are not properly chargeable in the current financial period and which will be charged as expenditure in a subsequent financial period.

(i) Deferred charges comprise expenditure items which are not properly chargeable in the current financial period and which will be charged as expenditure in the subsequent financial period

(i) Deferred charges comprise expenditure items which are not properly chargeable in the current financial period and which will be charged as expenditure in the subsequent financial period

(i) Deferred charges comprise expenditure items which are not properly chargeable in the current financial period and which will be charged as expenditure in a subsequent financial period.

(i) Deferred charges comprise expenditure items which are not properly chargeable in the current financial period and which will be charged as expenditure in the subsequent financial period.

Bank charges

Other charges

The charges!

13. Not all the increased net financial transfer to developing countries went to finance current account deficits.

In Asia, more or less half of the net financial transfer of 48 billion covers such losses.

The overall outcome of the various financial flows saw a seventh consecutive year of increasing net transfers of financial resources from developing to developed countries.

Net service Net payments of Balance on current Net movement