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Review of the Fund’s Policy on Multiple Currency Practices—Extension of the Effective Date

In July 2022, the Executive Board concluded the review of the Fund’s policy on multiple currency practices. It was planned that the revised policy would come into effect on April 1, 2023. The Board supported staff’s proposal to extend the transitional period and to delay the effectiveness date to No...

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Bibliographic Details
Corporate Authors: International Monetary Fund Legal Dept, International Monetary Fund Monetary and Capital Markets Department, International Monetary Fund Strategy, Policy, & Review Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2023
Series:Policy Papers
Subjects:
Economics
Political Economy
Monetary Economics
Multiple Currency Practices
Currency
Foreign Exchange
Monetary Policy
Money And Monetary Policy
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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520 |a In July 2022, the Executive Board concluded the review of the Fund’s policy on multiple currency practices. It was planned that the revised policy would come into effect on April 1, 2023. The Board supported staff’s proposal to extend the transitional period and to delay the effectiveness date to November 1, 2023, to allow more time to country authorities to make the necessary changes to adjust to the new policy, especially given the challenging external environment. The longer transition will also leave more time to finalize the guidance note and to conduct an outreach with stakeholders. Elements of the revised policy which became effective immediately on July 1, 2022 will continue to apply as envisaged during the transitional period 

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