Guidance Note for the Liberalization and Management of Capital Flows
Policy Papers, April 25, 2013
Source details
- Canonical URL
- Guidance Note for the Liberalization and Management of Capital Flows
Other formats
Bibliographic details
- Published: April 25, 2013
- Series: Policy Papers
Purpose and scope
- Provides operational guidance to staff on how to use the Fund’s institutional view on the liberalization and management of capital flows.
- Establishes a consistent basis for:
- providing policy advice on capital flows and policies related to them; and
- assessments when required for surveillance.
- Notes that, in the absence of an institutional view, country teams risk providing inconsistent advice to countries in similar circumstances (IEO, 2005).
Institutional view: legal and operational status
- The institutional view:
- is non-mandatory for Fund-supported programs or technical assistance;
- does not alter members’ rights and obligations under the Fund’s Articles of Agreement or under any other international agreements.
- The institutional view and guidance are intended to evolve over time to reflect:
- new experience;
- emerging views of authorities and staff; and
- research.
Operational guidance to staff
- Staff are encouraged to:
- use the institutional view as a consistent basis for policy advice and surveillance assessments; and
- reflect useful lessons from authorities’ experiences with capital flow liberalization and management in Fund reports so that these experiences can continue to influence the Fund’s approach.
Key themes and subject areas
- Subject: Capital flows, Capital inflows, Capital outflows, Fund role, Surveillance, Technical assistance