Currency board arrangements : issues and experiences / by a staff team led by Tomás J.T. Baliño and Charles Enoch, and comprising Alain Ize ... [and others].].

Includes bibliographical references.

Definitions and basic features. What is a currency board arrangement? --What distinguishes a currency board arrangement from other pegged exchange ratearrangements? -- How do currency board arrangements function? -- Considerationsfor adopting a currency board. Strengths of a currency board arrangement -- Currency stability, interest rate convergence, and financial intermediation -- Weaknesses of currency board arrangements -- Implications for entry conditions -- Determination of the exchange rate -- Scope for monetary policy and lender-of-last-resort support. Scope for day-to-day monetary operations -- Prudential issues and lender of last resort -- Implications for public debt management -- Duration of a currency board arrangement -- Should currency board arrangements be viewed as transitory or permanent? -- Legal issues in exiting a currency board arrangement -- Exit strategies -- Exit conditions -- Implications of currency board arrangements for the design of IMF-supported programs. Use of IMF resources-