Cover Finance & Development
Finance & Development, September 1971
Author:
International Monetary Fund. External Relations Dept.
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Series:
Finance & Development
Volume/Issue:
Volume 8: Issue 003
Language:
English
Publication Date:
01 Sep 1971
DOI:
https://doi.org/10.5089/9781616353049.022
ISBN:
9781616353049
ISSN:
0015-1947
Pages:
67
Keywords:
FD; F&D; import substitution; special drawing rights; import; IFC financing; balance of payments; fund staff; SDR legislation; Imports; Exports; Currency convertibility; Europe; Africa; Asia and Pacific; Western Hemisphere; Western Europe; Central America
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Opinions expressed in articles and other materials are those of the authors; they do not necessarily reflect IMF policy.
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This paper focuses on currency convertibility and the exchange rate system. The paper explains some of the factors involved in extending the freedom of currency convertibility, one of the IMF’s principal policy aims. It highlights that the IMF’s Articles of Agreement make the distinction between currency convertibility for residents and for nonresidents, but make it an obligation in principle to avoid restrictions on current payments of both categories. The paper also discusses management in developing countries as well as the link between growth and structural change.
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Cover Finance & Development
Finance & Development
ISSN:
0015-1947
Publisher:
International Monetary Fund
Volume 8: Issue 003