Title page
AUSTRALIA
STAFF REPORT FOR THE 2024 ARTICLE IV CONSULTATION—INFORMATIONAL ANNEX
November 12, 2024
Prepared By
Asia and Pacific Department
Contents
FUND RELATIONS
Fund Relations
(As of October 31, 2024)
Membership Status: Joined: August 5, 1947; Article VIII
 |
|
Outstanding Purchases and Loans: None
Financial Arrangements: None
Type |
Date of Arrangement |
Expiration Date |
Amount Approved (SDR Million) |
Amount Drawn (SDR Million) |
Stand-By |
May 1, 1961 |
September 5, 1961 |
104.63 |
0.00 |
Type |
Date of Arrangement |
Expiration Date |
Amount Approved (SDR Million) |
Amount Drawn (SDR Million) |
Stand-By |
May 1, 1961 |
September 5, 1961 |
104.63 |
0.00 |
Projected Obligations to Fund1
(SDR million; based on existing use of resources and present holdings of SDRs):
Forthcoming |
|||||
|---|---|---|---|---|---|
|
2024 |
2025 |
2026 |
2027 |
2028 | |
|
Principal | |||||
|
Charges/interest |
0.07 |
0.07 |
0.07 |
0.07 | |
|
Total |
0.07 |
0.07 |
0.07 |
0.07 | |
Forthcoming |
|||||
|---|---|---|---|---|---|
|
2024 |
2025 |
2026 |
2027 |
2028 | |
|
Principal | |||||
|
Charges/interest |
0.07 |
0.07 |
0.07 |
0.07 | |
|
Total |
0.07 |
0.07 |
0.07 |
0.07 | |
Exchange Rate Arrangement. The de jure and the de facto exchange rate arrangements are classified as free floating. Australia has accepted the obligations of Article VIII, Sections 2(a), 3, and 4, and maintains an exchange system that is free of restrictions on the making of payments and transfers for current international transactions and multiple currency practices, except for exchange restrictions that are maintained solely for the preservation of national or international security and which have been notified to the Fund pursuant to Executive Board Decision No. 144-(52/51). There are no taxes or subsidies on purchases or sales of foreign exchange.
Restrictions on Capital Transactions. Australia maintains a capital transactions regime that is virtually free of restrictions. Two main restrictions on foreigners require: authorization for significant ownership of Australian corporations; and approval for acquisition of real estate.
Article IV Consultation. Australia is on the 12-month consultation cycle. The Executive Board concluded the 2023 Article IV consultation on January 18, 2024 (IMF Country Report No. 24/11).
FSAP. The 2018 FSAP missions were held during June 6-26 and August 29-September 14, 2018. The findings were discussed with the authorities during the Article IV consultation discussions in November 2018 and were presented to the Executive Board for discussion alongside the Article IV staff report on February 4, 2019 (IMF Country Report No. 19/54). The previous FSAP Update was discussed by the Executive Board on November 12, 2012 (IMF Country Report No. 12/308).