Dutch Disease is an economic phenomenon that occurs when a country experiences a sudden influx of foreign currency, usually from the export of natural resources. This influx of money causes the value of the country's currency to increase, making imports more expensive and exports less competitive on the international market. The term was coined in 1977 by The Economist magazine to describe the negative economic effects experienced by the Netherlands after the discovery of natural gas reserves in the North Sea. The term ELM is an acronym for Economic Losses from Mismanagement, which is one of the main consequences of Dutch Disease.