For example, in Anguilla, the Bahamas, Grenada, Trinidad and Tobago, and the Turks and Caicos Islands the fiscal year corresponds to the calendar year, whereas in Antigua and Barbuda, Barbados, the British Virgin Islands, the Cayman Islands, Jamaica, and Montserrat the fiscal year covers the period April 1-March 31, and in Dominica the fiscal year runs from July 1 to June 30. In this volume, however, fiscal year, when used, refers to the United States fiscal year, which runs from October 1 to September 30. A measure of the total value of goods and services produced by the domestic economy during a given period, usually one year. The total market value of all final goods and services produced by an economy during a year. An economic development strategy that emphasizes the growth of domestic industries, often by import protection using tariff and nontariff measures.
Proponents favor the export of industrial goods over primary products.
The main business of the IMF is the provision of loans to its members when they experience balance of payments difficulties. These loans often carry conditions that require substantial internal economic adjustments by the recipients. The Lom Convention also provides for limited EEC development aid and investment funds to be disbursed to ACP recipients through the European Development Fund and the European Investment Bank. The Lom Convention is updated every five years. Offshore banking Term applied to banking transactions conducted between participants located outside the country.