A sum of money accrued in a local currency arising from goods or services received from abroad.
More example sentences
- The money from these sales, called counterpart funds, remained in the local currency in a special account.
- As much as 60 per cent of the ERP counterpart funds were used for industry and infrastructures, while agriculture only received 29 per cent.
- France and Italy used their counterpart funds to combat inflation and enforce budgetary restraint.