This note guides policy advice on the use of foreign exchange intervention (FXI) as part of the Integrated Policy Framework (IPF) in Fund surveillance. The note provides general principles for the advice in countries with flexible exchange rates and sets out three use cases for FXI that are tied...

The paper briefs the Executive Board on the initial considerations on CBDC. These cover a framework to guide countries' CBDC exploration, as well as implications for monetary policy transmission, capital flow management measures, and financial inclusion

In February 2019, the Executive Board considered staff's preliminary proposals for reforming the IMF's policy on multiple currency practices (MCPs) and supported the majority of the proposals. The Board expressed strong support for re-focusing the policy on official action that segments foreign...