intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances …

change in macroeconomic policies. Advancing the transition to a market-based economy to raise sustainable growth. Policy … interventions and tighten monetary policy to facilitate external adjustment; • Enhance market orientation of the economy through a …

Africa in the areas of contingency planning, crisis management, and bank resolution. The proposed scope of the new resolution …

intervention. Option contract specifications determine the impact of options on the underlying asset or currency, and hence their …-based intervention. The paper reviews the experience of the systematic option-based foreign exchange market intervention of the Central …

market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the …

This paper offers guidance on the operational aspects of official intervention in the foreign exchange market … counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and … disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention …