A principal objective of the International Monetary Fund (IMF) is to promote exchange stability, maintain orderly exchange arrangements among member countries, and avoid competitive exchange depreciations. In today’s world of large global payment imbalances, the importance of attaining these objectives cannot be overestimated.

This seminar will discuss the reforms needed to improve the effectiveness of the IMF in carrying out its mandate, in general, and in improving the way that the IMF conducts exchange-rate surveillance, in particular.