This paper describes the effects of Fund transactions on members’ external reserves, estimates the net reserve creation or absorption by the Fund in the 1980s, and compares the role of the Fund in this respect with that of other sources of international reserves

This paper analyzes the frequency and magnitude of the use by members of their reserve tranche positions since the Second Amendment of the Articles in light of key economic factors which may have influenced this use. After reviewing the characteristics of reserve tranche positions, the paper...