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International Monetary Fund. Monetary and Capital Markets Department

Abstract

Published since 1950, this authoritative annual reference is based upon a unique IMF database that tracks exchange and trade arrangements for the 187 IMF member countries, along with Hong Kong SAR, Aruba, and Curaçao and St Maarten. The Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER) draws together information on exchange measures in place, the structure and setting of exchange rates, arrangements for payments and receipts, procedures for resident and nonresident accounts, controls on capital transactions, and provisions specific to the financial sector. The 52 countries covered in this special supplement have been selected as those where expanded information on the regulatory framework for capital movements was readily available to the IMF. They include countries that participated in a pilot data collection project on the regulatory framework for capital transactions conducted by the IMF in 1996, and member countries of the OECD.

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1950

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1951

International Monetary Fund. External Relations Dept.

Abstract

This paper recognizes the difficulties and problems being faced by member countries under present circumstances and the uncertainties resulting from the strained international situation and rearmament. After the various relaxations and intensifications, there still remains a widespread use of restrictive practices by the IMF’s members. Despite some similarity between the restrictive systems of different countries, there is, as noted, a widespread diversity in the practices of IMF members. Multiple currency practices of many types and a variety of other devices are employed either in isolation or in combination. The purpose of many of the restrictions employed is to cope with balance of payments difficulties of the country imposing them. Some of the difficulties, however, are the result of measures in important export markets. Limitations on imports by one country, through exchange or trade restrictions or other devices, restrict the earnings of other countries and consequently may result in the latter restricting their payments.

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1953

International Monetary Fund. External Relations Dept.

Abstract

This paper discusses actions taken by members themselves, particularly for the establishment of internal financial stability, are of primary importance for the elimination of restrictions. The IMF has sought to give its support to countries faced with the practical difficulty of establishing such policies, pointing out the importance of appropriate exchange rate policies in achieving a sound international financial position and the importance of internal stability for exchange rate policy. Many member countries have now reached a point where they are re-examining more carefully not only their need for the current level of restrictions, but also the more fundamental question of reliance upon restrictions to cope with balance of payments difficulties. In the first year of IMF consultations, although some countries were applying policies designed to produce favorable conditions for the removal of restrictions, most countries were so preoccupied with their immediate problems that any substantial withdrawal of restrictions was impracticable.

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1955

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1956

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1957

International Monetary Fund. External Relations Dept.

Abstract

This paper analyses relatively little overall progress in the formal relaxation of restrictions. Certainly, progress in this respect was much less than in the immediately preceding years. On the other hand, there was a significant strengthening of most internationally traded currencies, particularly in the opening months of 1958. The rates in free markets began to approximate the rates in official markets. In this respect, there was continued progress toward what is commonly called external convertibility, although the present position still falls short of formal external convertibility. In some countries, restrictions were relaxed to only a limited extent, partly because earlier relaxations had left only restrictions of a protective nature and partly because of the more complex nature of the economic trends which characterized the period. In the light of these trends and, more particularly, of the currency speculation which arose during the middle of the period, it is notable that most countries were able to defend the progress toward freer trade and payments which had been made earlier.