Abstract
In this article the writer looks at the framework of exchange control and explains those aspects concerned with the financing of direct investment abroad. The emphasis is on cash flow rather than long‐term profitability with the result that the investor has to be prepared in many instances to pay the penalty of the investment currency pool premium. Attention is directed to some blind alleys and the general need to observe detailed rules for traffic in currency. With reasonable foresight official requirements need not impede a worthwhile project but cannot remove the dimension of uncertainty where foreign currency is involved.
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