Which of the following statements is NOT correct?

a.

The greater the need for importsespecially vital importsthe quicker a country can be expected to deplete its foreign exchange reserves.

b.

The larger the debt repayments in hard currencies are in relation to export revenues, the higher the probability that the country will have to reschedule its debt.

c.

When commodity prices or world demand collapsed for one debtor countrys commodity exports, the same occurred for other debtor countries as well.

d.

Control over the money supply and the use of domestic reserves are relatively systematically correlated in Less Developed Countries (LDCs).

e.

Traditional country-by-country Country risk analysis (CRA) models ignore the diversification effect.