IMF-《汇兑安排与汇兑限制年报（2018）》（英文）-2019.5-86页.pdf

Annual Report onExchange Arrangementsand Exchange Restrictions2018INTERNATIONAL MONETARY FUNDAnnual ReportonExchange Arrangementsand Exchange Restrictions2018International Monetary Fund18020-0002-FullBook.indd 14/12/2019 4:31:31 PM2019 International Monetary FundCataloging-in-Publication DataIMF LibraryNames:International Monetary Fund.Title:Annual report on exchange arrangements and exchange restrictions.Other titles:AREAER|Exchange arrangements and exchange restrictions|Annual report on exchange restrictions.Description:Washington,DC:International Monetary Fund,1950|Annual|Report year ends March 31.|Began with issue for March 1950.|19501978:Annual report on exchange restrictions.Identifiers:ISSN 0250-7366(print)|ISSN 2304-0831(online)Subjects:LCSH:Foreign exchangeLaw and legislationPeriodicals.|Foreign exchange administrationPeriodicals.Classification:LCC K4440.A13 I57ISSN(Online)2304-0831ISSN(Print)0250-7366ISBN 978-1-48439-677-3(paper)978-1-48439-679-7(ePub)978-1-48439-684-1(Mobi)978-1-48439-685-8(PDF)Disclaimer:The analysis and policy considerations expressed in this publication are those of the IMF staff and do not represent official IMF policy or the views of the IMF Executive Directors or their national authorities.Recommended citation:International Monetary Fund.2019.Annual Report on Exchange Arrangements and Exchange Restrictions 2018.Washington,DC:IMF.Please send orders to:International Monetary Fund,Publication ServicesP.O.Box 92780,Washington,D.C.20090,U.S.A.Tel.:(202)623-7430 Fax:(202)623-7201E-mail:publicationsimf.org18020-0002-FullBook.indd 24/12/2019 4:31:31 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018 International Monetary Fund|2018 iiiContentsCountry Chapters.ivPreface.viAbbreviations.viiOverview .1Table 1.Classification of Exchange Rate Arrangements .1Overall Developments.2Developments in Exchange Arrangements.3Table 2.De Facto Classification of Exchange Rate Arrangements,as of April 30,2018,and Monetary Policy Frameworks.5Table 3.Exchange Rate Arrangements,201018.8Table 4.Changes and Resulting Reclassifications of Exchange Rate Arrangements,May 1,2017April 30,2018.9Table 5.Monetary Policy Frameworks and Exchange Rate Anchors,201018.10Table 6.Foreign Exchange Market Structure,201518.13Member Countries Obligations and Status under Articles VIII and XIV.18Figure 1.IMF Members That Have Accepted the Obligations of Article VIII,Sections 2(a),3,and 4,19452017.18Table 7.Exchange Restrictions and Multiple Currency Practices,January 1December 31,2017.20Table 8.Exchange Restrictions and/or Multiple Currency Practices by Country,as of December 31,2017.22Regulatory Framework for Foreign Exchange Transactions.28Table 9.Provisions Specific to the Financial Sector,January 1,2017August 31,2018 .41Compilation Guide .43Summary Features of Exchange Arrangements and Regulatory Frameworks for Current and Capital Transactions in Member Countries.55Country Table Matrix .6718020-0002-FullBook.indd 34/12/2019 4:31:31 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018iv International Monetary Fund|2018 Country Chapters1Afghanistan Albania Algeria AngolaAntigua and Barbuda ArgentinaArmenia Aruba Australia Austria Azerbaijan The Bahamas Bahrain Bangladesh Barbados Belarus BelgiumBelizeBeninBhutanBoliviaBosnia and HerzegovinaBotswanaBrazilBrunei DarussalamBulgariaBurkina FasoBurundiCabo VerdeCambodiaCameroonCanadaCentral African RepublicChadChileChinaColombiaComorosDemocratic Republic of the CongoRepublic of CongoCosta RicaCte dIvoireCroatiaCuraao and Sint MaartenCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEswatiniEthiopiaFijiFinlandFranceGabonThe GambiaGeorgiaGermanyGhanaGreeceGrenadaGuatemalaGuineaGuinea-BissauGuyanaHaitiHondurasHong Kong SARHungaryIcelandIndiaIndonesiaIslamic Republic of IranIraqIrelandIsraelItalyJamaicaJapanJordanKazakhstanKenyaKiribatiKoreaKosovo1 These chapters are available on AREAER Online(www.elibrary-areaer.imf.org/).The term“country,”as used in this publication,does not in all cases refer to a territorial entity that is a state as understood by international law and practice;the term also covers some territorial entities that are not states but for which statistical data are maintained and provided internationally on a separate and independent basis.18020-0002-FullBook.indd 44/12/2019 4:31:31 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018 International Monetary Fund|2018 vKuwait Kyrgyz RepublicLao P.D.R.LatviaLebanonLesothoLiberiaLibyaLithuaniaLuxembourgMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMauritaniaMauritiusMexicoMicronesiaMoldovaMongoliaMontenegroMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew ZealandNicaraguaNigerNigeria Republic of North Macedonia NorwayOmanPakistanPalauPanamaPapua New GuineaParaguayPeruPhilippinesPolandPortugalQatarRomaniaRussiaRwandaSt.Kitts and Nevis St.LuciaSt.Vincent and the GrenadinesSamoaSan MarinoSo Tom and PrncipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSlovak RepublicSloveniaSolomon IslandsSomaliaSouth AfricaSouth SudanSpainSri LankaSudanSurinameSwedenSwitzerlandSyriaTajikistanTanzaniaThailandTimor-LesteTogoTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuelaVietnamYemenZambiaZimbabwe18020-0002-FullBook.indd 54/12/2019 4:31:32 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018vi International Monetary Fund|2018 PrefaceThe Annual Report on Exchange Arrangements and Exchange Restrictions has been published by the IMF since 1950.It draws on information available to the IMF from a number of sources,including that provided in the course of official staff visits to member countries,and has been prepared in close consultation with national authorities.This project was coordinated in the Monetary and Capital Markets Department by a staff team led by Annamaria Kokenyne under the overall supervision of Gaston Gelos,and comprising Ricardo Cervantes,Salim M.Darbar,Ingibjoerg Gudbjartsdottir,Jorge Lugo,Thorvardur Tjoervi Olafsson,Svetlana Popova,Miklos Vari,Yi Xue,and Viktoriya Zotova(external consultant).It draws on the specialized contributions of that department(for specific countries),with assistance from staff members of the IMFs five area depart-ments,together with staff of other departments.The report was edited and produced by Linda Griffin Kean,Rumit Pancholi,Hyoun Woo Park,and Lucy Scott Morales of the Communications Department.18020-0002-FullBook.indd 64/12/2019 4:31:32 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018 International Monetary Fund|2018 viiAbbreviationsNote:This list does not include acronyms of purely national institutions mentioned in the country chapters.ACU Asian Clearing Union(Bangladesh,Bhutan,India,Islamic Republic of Iran,Myanmar,Nepal,Pakistan,Sri Lanka)AD Authorized dealerAFTA ASEAN Free Trade Area(see ASEAN,below)AGOA African Growth and Opportunity Act(United States)AMU Asian monetary unitASEAN Association of Southeast Asian Nations(Brunei Darussalam,Indonesia,Malaysia,Philippines,Singapore,Thailand)BCEAO Central Bank of West African States(Benin,Burkina Faso,Cte dIvoire,Guinea-Bissau,Mali,Niger,Senegal,Togo)BEAC Bank of Central African States(Cameroon,Central African Republic,Chad,Republic of Congo,Equatorial Guinea,Gabon)CACM Central American Common Market(Costa Rica,El Salvador,Guatemala,Honduras,Nicaragua)CAFTACentral American Free Trade AgreementCAP Common agricultural policy(of the EU)CARICOMCaribbean Community and Common Market(Antigua and Barbuda,Barbados,Belize,Dominica,Grenada,Guyana,Haiti,Jamaica,Montserrat,St.Kitts and Nevis,St.Lucia,St.Vincent and the Grenadines,Suriname,Trinidad and Tobago);The Bahamas is also a member of CARICOM,but it does not participate in the Common MarketCB Central bankCEFTA Central European Free Trade Area(Bulgaria,Hungary,Poland,Romania,Slovak Republic,Slovenia)CEMAC Central African Economic and Monetary Community(members of the BEAC)CEPGL Economic Community of the Great Lakes Countries(Burundi,Democratic Republic of the Congo,Rwanda)CET Common external tariffCFA Communaut financire dAfrique(administered by the BCEAO)and Coopration financire en Afrique centrale(administered by the BEAC)CIMA CodeChartered Institute of Management Accountants Code of Ethics for Professional AccountantsCIS Commonwealth of Independent States(Armenia,Azerbaijan,Belarus,Georgia,Kazakhstan,Kyrgyz Republic,Moldova,Russian Federation,Tajikistan,Turkmenistan,Ukraine,Uzbekistan)CITES Convention on International Trade in Endangered Species of Wild Fauna and FloraCMA Common Monetary Area(a single exchange control territory comprising Eswatini,Lesotho,Namibia,and South Africa)CMEA Council for Mutual Economic Assistance(dissolved;formerly Bulgaria,Cuba,Czechoslovakia,German Democratic Republic,Hungary,Mongolia,Poland,Romania,U.S.S.R.,Vietnam)18020-0002-FullBook.indd 74/12/2019 4:31:32 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018viii International Monetary Fund|2018 COMESACommon Market for Eastern and Southern Africa(Burundi,Comoros,Democratic Republic of Congo,Djibouti,Egypt,Eritrea,Eswatini,Ethiopia,Kenya,Madagascar,Malawi,Mauritius,Namibia,Rwanda,Seychelles,Sudan,Uganda,Zambia,Zimbabwe)EAC East African CommunityEBRD European Bank for Reconstruction and DevelopmentECEuropean Council(Council of the European Union)ECB European Central BankECCB Eastern Caribbean Central Bank(Anguilla,Antigua and Barbuda,Dominica,Grenada,Montserrat,St.Kitts and Nevis,St.Lucia,St.Vincent and the Grenadines)ECCU Eastern Caribbean Currency UnionECOWAS Economic Community of West African States(Benin,Burkina Faso,Cape Verde,Cte dIvoire,The Gambia,Ghana,Guinea,Guinea-Bissau,Liberia,Mali,Niger,Nigeria,Senegal,Sierra Leone,Togo)ECSC European Coal and Steel CommunityEEA European Economic AreaEFSFEuropean Financial Stability FacilityEFSMEuropean Financial Stability MechanismEFTA European Free Trade Association(Iceland,Liechtenstein,Norway,Switzerland)EIB European Investment BankEMU European Economic and Monetary Union(Austria,Belgium,Cyprus,Estonia,Finland,France,Germany,Greece,Ireland,Italy,Latvia,Luxembourg,Malta,Netherlands,Portugal,Slovak Republic,Slovenia,Spain)EPZExport processing zoneERM Exchange rate mechanism(of the European monetary system)EU European Union(formerly European Community);Austria,Belgium,Bulgaria,Croatia,Cyprus,Czech Republic,Denmark,Estonia,Finland,France,Germany,Greece,Hungary,Ireland,Italy,Latvia,Lithuania,Luxembourg,Malta,the Netherlands,Poland,Portugal,Romania,Slovak Republic,Slovenia,Spain,Sweden,United Kingdom)FATF Financial Action Task Force on Money Laundering(of the OECD)FDIForeign direct investmentFECForeign exchange certificateFSU Former Soviet UnionG7Group of Seven advanced economies(Canada,France,Germany,Italy,Japan,United Kingdom,United States)GAFTA Greater Arab Free Trade AgreementGCC Gulf Cooperation Council(Cooperation Council for the Arab States of the Gulf;Bahrain,Kuwait,Oman,Qatar,Saudi Arabia,United Arab Emirates)GSP Generalized System of PreferencesIBRD International Bank for Reconstruction and Development(World Bank)IMF International Monetary FundLAIA Latin American Integration Association(Argentina,Bolivia,Brazil,Chile,Colombia,Ecuador,Mexico,Paraguay,Peru,Uruguay,Venezuela)LC Letter of creditLIBID London interbank bid rateLIBOR London interbank offered rate18020-0002-FullBook.indd 84/12/2019 4:31:32 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018 International Monetary Fund|2018 ixMCPMultiple currency practiceMERCOSUR Southern Cone Common Market(Argentina,Brazil,Paraguay,Uruguay)MFN Most favored nationMOF Ministry of financeNAFTA North American Free Trade AgreementOECD Organization for Economic Cooperation and DevelopmentOECS Organization of Eastern Caribbean States(Antigua and Barbuda,Dominica,Grenada,Montserrat,St.Kitts and Nevis,St.Lucia,St.Vincent and the Grenadines)OGL Open general licenseOTCOver the counterPACER Pacific Agreement on Closer Economic Relations(of the Pacific Islands Forum;Australia,Cook Islands,Fiji,Kiribati,Marshall Islands,Micronesia,Nauru,New Zealand,Niue,Palau,Papua New Guinea,Samoa,Solomon Islands,Tonga,Tuvalu,Vanuatu)PICTA Pacific Island Countries Trade Agreement(of the Pacific Islands Forum);Cook Islands,Fiji,Kiribati,Marshall Islands,Micronesia,Nauru,Niue,Palau,Papua New Guinea,Samoa,Solomon Islands,Tonga,Tuvalu,Vanuatu)RCPSFM Regional Council on Public Savings and Financial Markets(an institution of WAEMU countries that is involved in issuance and marketing of securities authorization)RIFF Regional Integration Facilitation Forum(formerly Cross-Border Initiative);Burundi,Comoros,Eswatini,Kenya,Madagascar,Malawi,Mauritius,Namibia,Rwanda,Seychelles,Tanzania,Uganda,Zambia,Zimbabwe)SACU Southern African Customs Union(Botswana,Eswatini,Lesotho,Namibia,South Africa)SADC Southern Africa Development Community(Angola,Botswana,Democratic Republic of the Congo,Eswatini,Lesotho,Malawi,Mauritius,Mozambique,Namibia,Seychelles,South Africa,Tanzania,Zambia,Zimbabwe)SDR Special drawing rightUCITS Undertakings for the Collective Investment of Transferable SecuritiesUDEAC Central African Customs and Economic Union(Cameroon,Central African Republic,Chad,Republic of Congo,Equatorial Guinea,Gabon)UN United NationsUNSCUN Security CouncilVAT Value-added taxWAEMU West African Economic and Monetary Union(formerly WAMU;members of the BCEAO)WAMA West African Monetary Agency(formerly WACH)WAMZ West African Monetary ZoneW-ERM II Exchange rate mechanism(of the WAMZ)WTO World Trade Organization18020-0002-FullBook.indd 94/12/2019 4:31:32 PM18020-0002-FullBook.indd 104/12/2019 4:31:32 PMANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2018 International Monetary Fund|2018 1Overview This is the 69th issue of the Annual Report on Exchange Arrangements and Exchange Restrictions(AREAER),which provides a yearly description of the foreign exchange arrangements,exchange and trade systems,and capital controls of all IMF member countries.1 The AREAER reports on restrictions in effect under Article XIV,Section 2,of the IMFs Articles of Agreement in accordance with Section 3 of Article XIV,which mandates annual reporting on such restrictions.2 It also provides information relating to paragraph 25 of the 2012 Integrated Surveillance Decision,which restates the obligation of each member country under the IMFs Articles of Agreement to notify the IMF of the exchange arrangement it intends to apply and any changes in that arrangement.3The AREAER also provides a description of global exchange and trade systems.It covers restrictions on cur-rent international payments and transfers and multiple currency practices(MCPs)maintained under Article XIV of the IMFs Articles of Agreement as well as those subject to the IMFs jurisdiction in accordance with