In that connection, the Committee considered comparative per capita income data that had been converted at market exchange rates (MERs) and purchasing power parities (PPPs).

(PPP )a

The evaluation of potential financing needs should take into account demand variables, such as the variability of the current account, external debt, volatility of capital flows and general economic vulnerability indexes.

They are, however, using the module for purchasing power parity calculations.

48. In that connection, the Committee recalled the reservations of members about the use of purchasing power parity conversion rates for the purposes of the scale, on both conceptual and practical grounds, and noted continuing problems with the availability and comparability of purchasing power parity rates.

GDP purchasing power parity in 2003 was around 2.33 billion, GDP real growth rate was approximately 2 per cent and per capita purchasing power parity was 36,000, one of the highest in the world.6 At the same time, Bermuda's high cost of living relegates it to ninth place on the list of countries with the highest purchasing power.7 In September 2004, Bermuda's inflation rate rose to 3.9 per cent, representing the highest inflation level in 14 years.

The regions plan to publish PPPs in stages, starting with preliminary estimates for consumption in the third and fourth quarters of 2006 and followed by PPPs at the gross domestic product (GDP) level in subsequent quarters.

Purchase Price

The Pacific island countries have been collecting data that will enable them to compute purchasing power parities for consumption.

The central banks of South Korea, Brazil, Taiwan, Japan, Switzerland, and many other countries are now buying dollars in order to protect their own currencies against revaluation and thus to defend their exports. Europe also became nervous after the euro exchange rate rose to more than 1.40, far beyond the purchasing power parity (PPP) rate of 1.17.

Preliminary and final global PPPs will also be published using the ring data and following the regional time tables.

The Hong Kong Monetary Authority bought Hong Kong dollars and sold Hong Kong dollars at the level of 7.85 according to the linked exchange rate system, in order to maintain the stability of the exchange rate of Hong Kong dollars.

Total purchase costs (average value per litre 1.467)

The average purchase price for a hand held satellite phone was approximately 1,000.

Final PPPs and other measures will be published later in 2007 when final GDP data become available.

For example, data variability at the basic heading level may be too great for PPPs at that level to be published.

Price adjusted rates of exchange

Preservation of purchasing power

55. However, it was unreasonable to use purchasing power parity for measuring the gross domestic product in international comparisons.

The region plans to calculate annual national average prices and compute PPPs for the reference years 2005 and 2006, using monthly data collected from July 2005 to June 2006.

Most Parties that reported belonged to the low income group, with GDP per capita in some cases less than USD 500 (in 1995 prices adjusted for purchasing power parity).

Most reporting Parties belonged to the low income group, with GDP per capita in some cases less than USD 500 (in 1995 prices adjusted for purchasing power parity).

According to officials at the Prime Minister s Office, the high demand for apartments in settlements was due to low prices rather than ideological motives.

At present, countries are committed to data reflecting their purchasing power parities and per capita indices being published at the same level of detail within the region.

The Board endorsed the plan to publish both preliminary and final PPPs and to publish in stages for consumption and the full GDP.

All of them have been collecting data since the first quarter of 2005 and will be preparing PPPs at the full GDP level.

38. The Committee agreed to keep the question of conversion rates under review, including the use of price adjusted rates of exchange (PAREs).

As it stands, Chinese exchange rates are allowed to fluctuate by a maximum of 2 on either side of the central parity, which the PBOC fixes daily. When the moving market rate reaches the edges of the fluctuation band, the PBOC can intervene in the market by buying or selling its foreign exchange reserves.

This reduction became necessary in order to reflect the loss of purchasing power of the support cost income earned in United States dollars, due to the unfavourable euro dollar rate of exchange experienced during 2004.

The preliminary PPPs and volume indices will be based on expenditure weights drawn from earlier years and the estimated 2005 GDP.

Food prices are rising fast, placing some basic commodities out of reach for a growing portion of the population.

Four regions have held at least two data review workshops with participating countries to examine purchasing power parities at the basic heading level.

Unlike a traditional selling auction which involves a single seller and many buyers, the latter bidding for the right to purchase and the former using market forces to drive buyers to raise the price of purchase, in a reverse auction, there is a single buyer and many suppliers the buyer indicates its requirement, and suppliers progressively bid downwards to win the right to supply.

Designs and instructions on construction were obtainable at a reasonable price.

And one of them is the lacking buying power.

It turns out that the value of buying a lottery ticket is not winning.

Under section 9 of Act XXV, if the tenant does not exercise the quot buy first option quot to purchase the residential property he or she occupies, the former owner of the property may purchase it and, in so doing, may offset the full value of the vouchers he or she received against the purchase price.

The inventories are recorded at the dollar equivalent calculated at the rate of exchange prevailing on the date of purchase.

But Japan would close the 30 gap (adjusted for purchasing power parity) between its per capita GDP and that of the US. The prevailing belief was that, by 2015 or so, Japan s per capita GDP would more likely than not be 10 higher than in the US (in PPP terms).

Second, conversion rates based on MERs should be used for the 2007 2009 scale, except where excessive fluctuations justified the use of PAREs or other appropriate rates.

The Global Office also held a data review workshop by bringing the regional coordinators together to review jointly regional prices and basic heading PPPs. The workshop enabled the regional coordinators to learn from each other about problems encountered and to offer solutions.

In December 1991, the European Communities introduced a new method for calculating salary purchase price parities, which is the equivalent of post adjustment, to take care of a similar problem.

As developed countries were plunged into debt crises, with shrinking asset values and declining exchange rates, China s international purchasing power grew. This, together with Wen s stimulus, bolstered China s investment and financing capabilities considerably.

The report presents the status of the programme and plans for the completion of the current phase and the continuation of the worldwide purchasing power parity comparisons.

With regard to the possibility of developing systematic criteria for deciding when MERs should be replaced with PAREs, he took the view that PAREs should be applied only in specific cases involving the correction of other indexes.