Front Matter

Front Matter

Author(s):
International Monetary Fund. Monetary and Capital Markets Department
Published Date:
September 2000
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© 2000 International Monetary Fund

Library of Congress Cataloging-in-Publication Data

International Monetary Fund.

Annual report on exchange arrangements and exchange restrictions. 1979—

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

1. Foreign exchange — Law and legislation — Periodicals. 2. Foreign exchange — Control — Periodicals. I. Title.

K4440.A13 157 [date] 341.7’51 79-644506

ISSN 0250-7366

ISBN 1-55775-898-0

Price: US$95.00

(US$47.50 to full-time university faculty members and students)

Please send orders to:

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Letter of Transmittal to Members and Governors of the Fund

August 28, 2000

Dear Sir or Madam:

I have the honor to transmit to you a copy of the International Monetary Fund’s Annual Report on Exchange Arrangements and Exchange Restrictions, 2000, which has been prepared in accordance with the provisions of Article XIV, Section 3 of the Articles of Agreement.

On behalf of the Executive Board, I should like to express our appreciation of the cooperation of the countries in the preparation of the Report.

Sincerely yours,

Horst Köhler

Chairman of the Executive Board and Managing Director

Contents

Note: 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 visits to member countries, and has been prepared in close consultation with national authorities. The information is presented in a tabular format.

This project was coordinated in the Monetary and Exchange Affairs Department by a staff team comprising Virgilio A. Sandoval and Harald Anderson, directed by Akira Ariyoshi, and coordinated by Judit Vadasz. It draws on the specialized contribution of that department (for specific countries), with assistance from staff members of the IMF’s six area departments, together with staff of other departments. The report was edited by Gail Berre and Martha Bonilla of the External Relations Department, and was produced by Mr. Anderson and the IMF Graphics Section.

Definition of Acronyms

ACP

Atlantic, Caribbean, and Pacific countries

ACU

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

AFTA

ASEAN free trade area (see ASEAN, below)

AMU

Asian monetary unit

ANZCERTA

Australia-New Zealand Closer Economic Relations and Trade Agreement

ASEAN

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

ATC

Agreement of Textiles and Clothing

BCEAO

Central Bank of West African States (Banque centrale des états de l’Afrique de l’ouest); the West African states are Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo

BEAC

Bank of Central African States (Banque des états de l’Afrique centrale); the Central African states are Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon

BLEU

Belgium-Luxembourg Economic Union

CACM

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

CAEMC

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

CAP

Common agricultural policy (of the EU)

CARICOM

Caribbean Community and Common Market (integrated by Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago)

CEEAC

Economic Community of Central African States (integrated by Angola, Burundi, Cameroon, Central African Republic, Chad, Democratic Republic of the Congo, Republic of Congo, Equatorial Guinea, Gabon, Rwanda, and São Tomé and Príncipe)

CEFTA

Central European Free Trade Area (integrated by Bulgaria, Czech Republic, Hungary, Poland, Romania, Slovak Republic, and Slovenia)

CEPGL

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

CEPT

Common effective preferential tariff of the ASEAN free trade zone

CET

Common external tariff

CFA

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

CIS

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

CMA

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

CMCF

Caribbean Multilateral Clearing Facility

CMEA

Council for Mutual Economic Assistance (dissolved; formerly integrated by Bulgaria, Cuba, Czechoslovakia, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and Vietnam)

COMESA

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

EAC

East African Community

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 Common Union

ECOWAS

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

ECSC

European Coal and Steel Community

ECU

European currency unit

EEA

European economic area

EFTA

European Free Trade Association (integrated by Iceland, Liechtenstein, Norway, and Switzerland)

EMS

European monetary system

EMU

European Economic and Monetary Union

ERM

Exchange rate mechanism (of the EMS)

EU

European Union (formerly European Community; integrated by Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, and United Kingdom)

FSU

Former Soviet Union

GCC

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

GSP

Generalized system of preferences

LAIA

Latin American Integration Association (integrated by Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and República Bolivariana de Venezuela)

LC

Letter of credit

LIBOR

London interbank offered rate

MERCOSUR

Southern Cone Common Market (integrated by Argentina, Brazil, Paraguay, and Uruguay)

MFA

Multifiber Arrangement

MFN

Most favored nation

MOF

Ministry of Finance

NAFTA

North American Free Trade Agreement

NATO

North Atlantic Treaty Organization

OECD

Organization for Economic Cooperation and Development (integrated by Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Republic of Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, and United States)

OECS

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

OGL

Open general license

PTA

Preferential trade area for eastern and southern African states

RCPSFM

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

SACU

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

SADC

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

SDR

Special drawing rights

SIBOR

Singapore interbank offered rate

SPARTECA

South Pacific Regional Trade and Economic Cooperation Agreement (signed by Australia, Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, New Zealand, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu)

UDEAC

Central African Customs and Economic Union (Union douanière et économique de l’Afrique centrale; integrated by Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon)

UN

United Nations

UNITA

National Union for the Total Independence of Angola

VAT

Value-added tax

WAEMU

West African Economic and Monetary Union (formerly WAMU; integrated by the members of the BCEAO)

WAMA

West African Monetary Agency (formerly WACH)

WTO

World Trade Organization

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

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