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Front Matter
- International Monetary Fund. Monetary and Capital Markets Department
- Published Date:
- September 1999
Annual Report on Exchange Arrangements and Exchange Restrictions 1999
© 1999 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.A13157 [date] 341.7’51 79-644506
ISSN 0250-7366
ISBN 1-55775-823-9
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Letter of Transmittal to Members and Governors of the Fund
August 27, 1999
Dear Sir:
I have the honor to transmit to you a copy of the International Monetary Fund’s Annual Report on Exchange Arrangements and Exchange Restrictions, 1999, 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,
Michel Camdessus
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 it has been prepared in close consultation with national authorities. The information is presented in tabular format.
This project was coordinated in the Monetary and Exchange Affairs Department by a staff team directed by R. Barry Johnston and coordinated by Judit Vadasz, comprising Virgilio A. Sandoval, Fabienne Piccinni, and Andrew Sewell. 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 Ms. Piccinni and the IMF Graphics Section.
Definition of Acronyms
Note: This list does not include acronyms of purely national institutions mentioned in the country chapters.
Atlantic, Caribbean, and Pacific countries
Asian Clearing Union (integrated by Bangladesh, India, the Islamic Republic of Iran, Myanmar, Nepal, Pakistan, and Sri Lanka)
ASEAN free trade area (see ASEAN, below)
Asian monetary unit
Australia-New Zealand Closer Economic Relations and Trade Agreement
Asian-Pacific Economic Union
Association of South East Asian Nations (integrated by Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand)
Agreement of Textiles and Clothing
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.)
Bank of Central African States (Banque des états de l’Afrique centrale). (The Central African States are Cameroon, Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, and Gabon.)
Belgian-Luxembourg Economic Union
Central American Common Market (integrated by Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua)
Central African Economic and Monetary Community
Common agricultural policy (of the EU)
Caribbean Common Market (integrated by Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago)
Economic Community of Central African States
Central European free trade area
Economic Community of the Great Lakes Countries (integrated by Burundi, the Democratic Republic of the Congo, and Rwanda)
Common effective preferential tariff of the ASEAN free trade zone
Common external tariff
Communauté financière africaine
Commonwealth of Independent States
Common monetary area (a single exchange control territory comprising Lesotho, Namibia, South Africa, and Swaziland)
Caribbean Multilateral Clearing Facility
Common Market for Eastern and Southern Pacific (Angola, Burundi, Comoros, Democratic Republic of the Congo, Egypt, Eritrea, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe)
Consumer price index
East African Cooperation
European Central Bank
Eastern Caribbean Central Bank (Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines)
Eastern Caribbean Common Market
Economic Commission for Latin America and the Caribbean
Economic Community of West African States (CEDEAO) (Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo)
European Coal and Steel Community
European currency unit
European economic area
European Free Trade Association
European monetary system
European Economic and Monetary Union
Exchange rate mechanism (of the EMS)
European Union (formerly European Community) (integrated by Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Luxembourg, Netherlands, Portugal, Spain, Sweden, and the United Kingdom)
Former Soviet Union
Gulf Cooperation Council (Cooperation Council for the Arab States of the Gulf) (Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates)
Generalized system of preferences
Latin American Integration Association (integrated by Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela)
Letter of credit
London interbank offered rate
Southern Cone Common Market (integrated by Argentina, Brazil, Paraguay, and Uruguay)
Multifiber Arrangement
Most favored nation
Ministry of Finance
North American Free Trade Agreement
North Atlantic Treaty Organization
Organization for Economic Cooperation and Development
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)
Open general license
Organization of the Petroleum Exporting Countries
Preferential trade area for Eastern and Southern African states
Southern African Customs Union (integrated by Botswana, Lesotho, Namibia, South Africa, and Swaziland)
Southern Africa Development Community (integrated by Angola, Botswana, Lesotho, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe)
Special drawing rights
Singapore interbank offered rate
South Pacific Regional Trade and Economic Cooperation Agreement (signed by Australia, Cook Islands, Fiji, Kiribati, Nauru, New Zealand, Niue, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu)
Union of account of the PTA
Central African Customs and Economic Union
United Nations
National Union for the Total Independence of Angola
Value-added tax
West African Economic Community (CEAO) (dissolved)
West African Economic and Monetary Union (formerly WAMU, integrated by Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo)
West African Monetary Agency (formerly WACH)
World Trade Organization (supersedes GATT)
