Front Matter

Front Matter

International Monetary Fund
Published Date:
August 2004
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Prepared by the Staff of the International Monetary Fund

International Monetary Fund

Washington, DC

© 2004 International Monetary Fund

Project editor: Archana Kumar

Cover design: Lai Oy Louie and Jorge Salazar

Typesetting: Alicia Etchebarne-Bourdin

Production: IMF Multimedia Services Division

Cataloging-in-Publication Data

[Guidelines for foreign exchange reserve management]—Washington, D.C.: International Monetary Fund, 2004.

p. cm.

ISBN 1-58906-260-4

1. Bank reserve. 2. Foreign exchange. I. International Monetary Fund.

HG1656.A3G85 2004

Price: US$15.00

Please send orders to:

International Monetary Fund, Publication Services

700 19th Street, N.W., Washington, D.C. 20431, USA

Tel.: (202) 623-7430 • Telefax: (202) 623-7201




The Guidelines for Foreign Exchange Reserve Management have been developed as part of a broader work program undertaken by the IMF to help strengthen the international financial architecture, to promote policies and practices that contribute to stability and transparency in the financial sector, and to reduce external vulnerabilities of member countries. The Guidelines parallel those for Public Debt Management that were developed by the IMF and the World Bank and released in March 2001.

In developing the Guidelines, IMF staff worked in close collaboration with reserve management entities from a broad group of member countries and international institutions in a comprehensive outreach process. The outreach process included regional meetings in Abu Dhabi, Basel, Gaborone, Mexico City, Singapore, and Washington, DC, to discuss earlier versions of the Guidelines. The practitioners’ insight that this process brought to the Guidelines has enabled the enunciation of broadly applicable principles as well as institutional and operational foundations that have relevance for members with a wide range of institutional structures at different stages of development.

The staff acknowledges and greatly appreciates the efforts of all who contributed to the successful completion of this project.

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