This paper provides a review of developments and prospects in the international capital markets, including official actions affecting the markets and the role of the markets in intermediation between surplus and deficit countries, in particular the non-oil developing countries

This paper provides a review of recent developments and an assessment of short-term prospects for private international capital markets, which constitute one of the main sources of international capital flows

In its surveillance activities, the Fund is frequently confronted with the difficult problem of how to identify exchange rate behavior that is unrelated to underlying economic and financial conditions and, consequently, should be viewed with concern from a national or international standpoint....

In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...