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Front Matter

Front Matter

Author(s):
International Monetary Fund. Monetary and Capital Markets Department
Published Date:
October 2011
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    Annual Report on Exchange Arrangements and Exchange Restrictions 2011

    CD-ROM Edition including Overview

    International Monetary Fund

    ©2011 International Monetary Fund

    Cataloging-in-Publication Data

    International Monetary Fund.

    Annual Report on exchange arrangements and exchange restrictions

    [electronic resources]. 1979–

    Continues: International Monetary Fund. Annual Report on exchange restrictions, 1950–1978

    1. Foreign exchange—Law and Legislation—Periodicals.2. Foreign exchange administration—Periodicals. 1. Title

    K4440.A13 157 2007 341.7’5179-644506

    ISSN 0250-7366

    ISBN 978-1-61635-203-5

    Please send orders to:

    International Monetary Fund, Publication Services

    P.O. Box 92780, Washington, D.C. 20090, U.S.A.

    Tel.: (202) 623-7430 Fax: (202) 623-7201

    E-mail: publications@imf.org

    www.imfbookstore.org

    Contents

    Country Chapters on CD-ROM1

    The term “country,” as used in this publication, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states but for which statistical data are maintained and provided internationally on a separate and independent basis.

    Preface

    The Annual Report on Exchange Arrangements and Exchange Restrictions has been published by the IMF since 1950. It draws on information available to the IMF from a number of sources, including that provided in the course of official staff visits to member countries, and has been prepared in close consultation with national authorities.

    This project was coordinated in the Monetary and Capital Markets Department by a staff team directed by Karl F. Habermeier and comprising Roy Baban, Mehmet Ziya Gorpe, Ivett Jamborne, Annamaria Kokeny, and Maria Zenaida M. de Mesa. It draws on the specialized contribution of that department (for specific countries), with assistance from staff members of the IMF’s five area departments, together with staff of other departments. The report was edited by Linda Griffin Kean of the External Relations Department. Lucy Scott Morales and John Gregg Forte provided editorial assistance. Design and composition by Urszula Witherell of JetSet Communications, Inc.

    Abbreviations

    ACU

    Asian Clearing Union (Bangladesh, Bhutan, India, Islamic Republic of Iran, Myanmar, Nepal, Pakistan, Sri Lanka)

    AD

    Authorized dealer

    AFTA

    ASEAN Free Trade Area (see ASEAN, below)

    AGOA

    African Growth and Opportunity Act (United States)

    AMU

    Asian monetary unit

    ASEAN

    Association of Southeast Asian Nations (Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, Thailand)

    BCEAO

    Central Bank of West African States (Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo)

    BEAC

    Bank of Central African States (Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, Gabon)

    CACM

    Central American Common Market (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua)

    CAEMC

    Central African Economic and Monetary Community (members of the BEAC)

    CAFTA

    Central American Free Trade Agreement

    CAP

    Common agricultural policy (of the EU)

    CARICOM

    Caribbean Community and Common Market (Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago); The Bahamas is also a member of CARICOM, but it does not participate in the Common Market

    CB

    Central bank

    CEFTA

    Central European Free Trade Area (Bulgaria, Hungary, Poland, Romania, Slovak Republic, Slovenia)

    CEPGL

    Economic Community of the Great Lakes Countries (Burundi, Democratic Republic of Congo, Rwanda)

    CET

    Common external tariff

    CFA

    Communauté financière d’Afrique (administered by the BCEAO) and Coopération financière en Afrique centrale (administered by the BEAC)

    CIMA Code

    Chartered Institute of Management Accountants Code of Ethics for Professional Accountants

    CIS

    Commonwealth of Independent States (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine, Uzbekistan)

    CITES

    Convention on International Trade in Endangered Species of Wild Fauna and Flora

    CMA

    Common Monetary Area (a single exchange control territory comprising Lesotho, Namibia, South Africa, and Swaziland)

    CMEA

    Council for Mutual Economic Assistance (dissolved; formerly Bulgaria, Cuba, Czechoslovakia, German Democratic Republic, Hungary, Mongolia, Poland, Romania, U.S.S.R., Vietnam)

    COMESA

    Common Market for Eastern and Southern Africa (Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritius, Namibia, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, Zimbabwe)

    EAC

    East African Community

    EBRD

    European Bank for Reconstruction and Development

    EC

    European Council (Council of the European Union)

    ECB

    European Central Bank

    ECCB

    Eastern Caribbean Central Bank (Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines)

    ECCU

    Eastern Caribbean Currency Union

    ECOWAS

    Economic Community of West African States (Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo)

    ECSC

    European Coal and Steel Community

    EEA

    European Economic Area

    EFSF

    European Financial Stability Facility

    EFSM

    European Financial Stability Mechanism

    EFTA

    European Free Trade Association (Iceland, Liechtenstein, Norway, Switzerland)

    EIB

    European Investment Bank

    EMU

    European Economic and Monetary Union (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovak Republic, Slovenia, Spain)

    EPZ

    Export processing zone

    ERM

    Exchange rate mechanism (of the European monetary system)

    EU

    European Union (formerly European Community); Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom)

    FATF

    Financial Action Task Force on Money Laundering (of the OECD)

    FDI

    Foreign direct investment

    FEC

    Foreign exchange certificate

    FSU

    Former Soviet Union

    G7

    Group of Seven advanced economies (Canada, France, Germany, Italy, Japan, United Kingdom, United States)

    GAFTA

    Greater Arab Free Trade Agreement

    GCC

    Gulf Cooperation Council (Cooperation Council for the Arab States of the Gulf; Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates)

    GSP

    Generalized System of Preferences

    IBRD

    International Bank for Reconstruction and Development (World Bank)

    IMF

    International Monetary Fund

    LAIA

    Latin American Integration Association (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, Venezuela)

    LC

    Letter of credit

    LIBID

    London interbank bid rate

    LIBOR

    London interbank offered rate

    MERCOSUR

    Southern Cone Common Market (Argentina, Brazil, Paraguay, Uruguay)

    MFN

    Most favored nation

    MOF

    Ministry of Finance

    NAFTA

    North American Free Trade Agreement

    OECD

    Organization for Economic Cooperation and Development

    OECS

    Organization of Eastern Caribbean States (Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines)

    OGL

    Open general license

    OTC

    Over the counter

    PACER

    Pacific Agreement on Closer Economic Relations (of the Pacific Islands Forum; Australia, Cook Islands, Republic of Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, New Zealand, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu)

    PICTA

    Pacific Island Countries Trade Agreement (of the Pacific Islands Forum); Cook Islands, Republic of Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu)

    RCPSFM

    Regional Council on Public Savings and Financial Markets (an institution of WAEMU countries that is involved in issuance and marketing of securities authorization)

    RIFF

    Regional Integration Facilitation Forum (formerly Cross-Border Initiative); Burundi, Comoros, Kenya, Madagascar, Malawi, Mauritius, Namibia, Rwanda, Seychelles, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe)

    SACU

    Southern African Customs Union (Botswana, Lesotho, Namibia, South Africa, Swaziland)

    SADC

    Southern Africa Development Community (Angola, Botswana, Democratic Republic of Congo, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia, Zimbabwe)

    SDR

    Special drawing right

    UCITS

    Undertakings for the Collective Investment of Transferable Securities

    UDEAC

    Central African Customs and Economic Union (Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, Gabon)

    UN

    United Nations

    UNSC

    UN Security Council

    VAT

    Value-added tax

    WAEMU

    West African Economic and Monetary Union (formerly WAMU; members of the

    BCEAO)

    WAMA

    West African Monetary Agency (formerly WACH)

    WAMZ

    West African Monetary Zone

    W-ERM II

    Exchange rate mechanism (of the WAMZ)

    WTO

    World Trade Organization

    Note: This list does not include acronyms of purely national institutions mentioned in the country chapters

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