## 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](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/guidance-note-for-the-liberalization-and-management-of-capital-flows-pp4759)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2016/12/31/guidance-note-for-the-liberalization-and-management-of-capital-flows-pp4759/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2016/12/31/guidance-note-for-the-liberalization-and-management-of-capital-flows-pp4759/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2016/12/31/guidance-note-for-the-liberalization-and-management-of-capital-flows-pp4759/bundle-manifest.json)

## Bibliographic details
- Published: April 25, 2013
- Series: Policy Papers

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### 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

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## Content in this bundle

- **_042513**
  - [_042513 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2013/_042513.pdf.md){rel="alternate" type="text/markdown"}
  - [_042513 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2013/_042513.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/guidance-note-for-the-liberalization-and-management-of-capital-flows-pp4759_