Europe > Montenegro
Abstract
Last issued in 1992, this new release of the IMF's Articles of Agreement for 2011 includes changes to the Articles resulting from the adoption of the Fourth Amendment on August 10, 2009, as well as the Fifth and Sixth Amendments, which entered into force on February 18, 2011 and March 3, 2011, respectively.
Abstract
This paper explains purposes and functions of various articles of the IMF. The original members of the IMF are those of the countries represented at the United Nations Monetary and Financial Conference whose governments accept membership before December 31, 1945. The articles describe that the Board of Governors at intervals of not more than five years are expected to conduct a general review, and if it deems it appropriate propose an adjustment, of the quotas of the members. Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth, and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, each member undertakes to collaborate with the IMF and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates.
Abstract
The Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER) has been published by the IMF since 1950. It is a unique publication based on a database maintained by the IMF that tracks exchange arrangements and foreign exchange systems for all member countries on an annual basis and also provides historical information on these. The introduction to the volume provides a summary of recent global trends and developments in the areas covered by the publication. Individual country chapters report exchange measures in place, the structure and setting of the exchange rate, arrangements for payments and receipts, procedures for resident and nonresident accounts, mechanisms for import and export payments and receipts, controls on capital transactions, and provisions specific to the financial sector. A separate section in each chapter lists changes made during 2005 and the first part of 2006. The AREAER draws on information made available to the IMF from a number of sources, including during official staff visits to member countries, and has been prepared in close consultation with national authorities. The information is presented in a tabular format.
Abstract
This 2004 Annual Report on Exchange Arrangements and Exchange Restrictions provides a detailed description of the exchange arrangements and exchange/trade restrictions of individual IMF member countries and Hong Kong Special Administrative Region, as well as Aruba and the Netherlands Antilles. The report highlights that the exchange rate of the kuna is determined in the foreign exchange market. The Croatian National Bank may set intervention exchange rates, which it applies in transactions with banks outside the interbank market to smooth undue fluctuations in the exchange rate.
Abstract
This 2003 Annual Report on Exchange Arrangements and Exchange Restrictions provides a detailed description of the exchange arrangements and exchange/trade restrictions of individual IMF member countries and Hong Kong Special Administrative Region, as well as Aruba and the Netherlands Antilles. The report highlights that Bangladesh Bank announces a buying–selling rate band for the U.S. dollar against the taka for its transactions with authorized dealer banks. Trends of the real effective exchange rate of the taka against a trade-weighted basket of currencies of major trade partners are analyzed to monitor the external competitiveness of the exchange rate.
Abstract
This 2002 Annual Report on Exchange Arrangements and Exchange Restrictions provides a detailed description of the exchange arrangements and exchange/trade restrictions of individual IMF member countries and Hong Kong Special Administrative Region, as well as Aruba and the Netherlands Antilles. The report highlights that the exchange rate of the Australian dollar is market determined. Licensed foreign exchange dealers may deal among themselves, with their customers, and with overseas counterparties at mutually negotiated rates for both spot and forward transactions in any currency with regard to trade- and nontrade-related transactions.