Browse

You are looking at 1 - 10 of 52 items for :

  • Annual Report on Exchange Arrangements and Exchange Restrictions x
Clear All
International Monetary Fund. Monetary and Capital Markets Department

Abstract

This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on the operation of foreign exchange markets and controls on international trade. It describes controls on capital transactions and measures implemented in the financial sector, including prudential measures. In addition, it reports on exchange measures imposed by member countries for security reasons. A single table provides a snapshot of the exchange and trade systems of all IMF member countries. The Overview describes in detail how the general trend toward foreign exchange liberalization continued during 2012, alongside a strengthening of the financial sector regulatory framework. The AREAER is available in several formats. The Overview in print and online, and the detailed information for each of the 191 member countries and territories is included on a CD that accompanies the printed Overview and in an online database, AREAER Online. In addition to the information on the exchange and trade system of IMF member countries in 2012, AREAER Online contains historical data published in previous issues of the AREAER. It is searchable by year, country, and category of measure and allows cross country comparisons for time series.

International Monetary Fund. External Relations Dept.

Abstract

This paper highlights the exchange rate for the pound sterling soon after it began to float, moved within a relatively narrow range in relation to other major currencies and unrest in the exchange markets moderated. In some countries, such as Australia and Spain, where outward capital movements were still subject to considerable restrictions, these were relaxed to various extents. In a number of primary producing as well as industrial countries, the control of inward capital movements was motivated not by their immediate balance of payments impact but by concern over the extent of foreign ownership of certain sectors of the economy. Contrary to expectations, the monetary unrest remained and capital movements increased. After moderating somewhat in the second half of 1972, late in the period gold prices started to rise again, and they reached new peaks in early 1973. Guatemala, Hong Kong, and Kuwait abolished exchange control. Germany, invoking Article 23 of the Foreign Trade and Payments Law, restricted additional types of capital transactions between residents and nonresidents in order to ward off capital inflows.

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.

International Monetary Fund. External Relations Dept.

Abstract

This paper discusses economic and financial difficulties that will undoubtedly continue to confront them, although it is to be expected that renewed expansion in world trade will ease the decline in export earnings which they have recently suffered. Much effort will be needed nationally and internationally to create the conditions which will enable these countries to reap the full advantages of growth combined with domestic stability and external equilibrium. In this endeavor, those countries which conduct their transactions in convertible currencies, and which have relatively simple exchange systems, will be in a better position to cope with the financial problems arising out of urgent needs for development. Although many obstacles remain, there is in the world today an increased understanding of the issues involved, and the possibility of achieving the full benefits of a multilateral system is now greater than at any previous time in the IMF’s history.