Chapter

Appendix II: Summary Features of Exchange Arrangements and Regulatory Frameworks for Current and Capital Transactions in Member Countries 1 (As of date shown on first country page)2

Author(s):
International Monetary Fund. Monetary and Capital Markets Department
Published Date:
September 2002
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Total number of countries with this featureAfghanistan, I.S. ofAlbaniaAlgeriaAngolaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanThe BahamasBahrain, Kingdom ofBangladeshBarbadosBelarusBelgiumBelizeBeninBhutanBoliviaBosnia and HerzegovinaBotswanaBrazilBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCentral African RepublicChadChileChina, People’s Rep. ofHong Kong SARColombiaComorosCongo, Dem. Rep. of theCongo, Republic ofCosta RicaCôte d’lvoireCroatiaCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopia
Status under IMF Articles of Agreement
Article VIII156
Article XIV30
Exchange rate arrangements
Exchange arrangement with no separate legal tender40
Currency board arrangement7
Conventional pegged arrangement39+++++++++++
Pegged exchange rate within horizontal bands5**
Crawling peg4
Crawling band5
Managed floating with no preannounced path for the exchange rate44
Independently floating42
Exchange rate structure
Dual exchange rates10
Multiple exchange rates6
Arrangements for payments and receipts
Bilateral payments arrangements65
Payments arrears62
Controls on payments for invisible transactions and current transfers101
Controls on proceeds from exports and/or invisible transactions
Repatriation requirements104
Surrender requirements79
Capital transactions
Controls on:
Capital market securities131
Money market instruments110
Collective investment securities101
Derivatives and other instruments83
Commercial credits107
Financial credits113
Guarantees, sureties, and financial backup facilities96
Direct investments147
Liquidation of direct investments59
Real estate transactions135
Personal capital transactions91
Provisions specific to:
Commercial banks and other credit institutions157
Institutional investors86
FijiFinlandFranceGabonThe GambiaGeorgiaGermanyGhanaGreeceGrenadaGuatemalaGuineaGuinea-BissauGuyanaHaitiHondurasHungaryIcelandIndiaIndonesiaIran, I.R. ofIraqIrelandIsraelItaly
Status under IMF Articles of Agreement
Article VIII
Article XIV
Exchange rate arrangements
Exchange arrangement with no separate legal tender
Currency board arrangement
Conventional pegged arrangement
Pegged exchange rate within horizontal bands*
Crawling peg
Crawling band
Managed floating with no preannounced path for the exchange rate
Independently floating
Exchange rate structure
Dual exchange rates
Multiple exchange rates
Arrangements for payments and receipts
Bilateral payments arrangements
Payments arrears
Controls on payments for invisible transactions and current transfers
Controls on proceeds from exports and/or invisible transactions
Repatriation requirements
Surrender requirements
Capital transactions
Controls on:
Capital market securities
Money market instruments
Collective investment securities
Derivatives and other instruments
Commercial credits
Financial credits
Guarantees, sureties, and financial backup facilities
Direct investments
Liquidation of direct investments
Real estate transactions
Personal capital transactions
Provisions specific to:
Commercial banks and other credit institutions
Institutional investors
NepalNetherlandsNetherlands AntillesNew ZealandNicaraguaNigerNigeriaNorwayOmanPakistanPalauPanamaPapua New GuineaParaguayPeruPhilippinesPolandPortugalQatarRomaniaRussian FederationRwandaSt. Kitts and NevisSt. LuciaSt. Vincent and the GrenadinesSamoaSan MarinoSãn Tomé and PríncipeSaudi ArabiaSenegalSeychellesSierra LeoneSingaporeSlovak RepublicSloveniaSolomon IslandsSomaliaSouth AfricaSpainSri LankaSudanSurinameSwazilandSwedenSwitzerlandSyrian Arab RepublicTajikistanTanzaniaThailandTogoTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Rep. Bolivariana ofVietnamYemen, Republic ofYugoslavia, Fed. Rep. OfZambiaZimbabwe
Status under IMF Articles of Agreement
Article VIII
Article XIV
Exchange rate arrangements
Exchange arrangement with no separate legal tender
Currency board arrangement
Conventional pegged arrangement+++++++++++
Pegged exchange rate within horizontal bands
Crawling peg
Crawling band
Managed floating with no preannounced path for the exchange rate
Independently floating
Exchange rate structure
Dual exchange rates
Multiple exchange rates
Arrangements for payments and receipts
Bilateral payments arrangements
Payments arrears
Controls on payments for invisible transactions and current transfers
Controls on proceeds from exports and/or invisible transactions
Repatriation requirements
Surrender requirements
Capital transactions
Controls on:
Capital market securities
Money market instruments
Collective investment securities
Derivatives and other instruments
Commercial credits
Financial credits
Guarantees, sureties, and financial backup facilities
Direct investments
Liquidation of direct investments
Real estate transactions
Personal capital transactions
Provisions specific to:
Commercial banks and other credit institutions
Institutional investors

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