In February 2019, the Executive Board considered staff’s preliminary proposals for reforming the IMF’s policy on multiple currency practices (MCPs) and supp

Executive Directors welcomed the opportunity to complete the review of the Fund’s Policy on Multiple Currency Practices (MCPs). They observed that MCPs can be

This paper reviews the Fund’s policy on multiple currency practices (MCPs). There remain strong economic and legal reasons to retain a policy on MCPs. The ove

This note provides operational guidance to staff on the implementation of the new Fund’s policy on multiple currency practices (MCPs), effective February 1, 2

This paper reviews experience with currency convertibility on both the current and capital accounts, with particular attention to the Fund’s concepts and poli