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Slovak, Co-operators: Photographer: Claudio Centonze European Union, 2020 Source: EC – Audiovisual Service. Adherence by G20 countries to the OECD Code is progressing. The revised Code provides countries with the flexibility needed to respond to financial stability concerns, linked to large capital inflows and outflows, without diluting the Code’s high standards of openness. Having regard to the Report of the Committee for Invisible Transactions on the Codes of Liberalisation of Current Invisibles and of Capital Movements of 28th October 1961, and the Comments by the Executive Committee on that Report of 8th December 1961 [OECD/C(61)37; OECD/C(61)73]; Decides: Change ), You are commenting using your Google account. South Africa is the first African country to have applied to the Code and is making important progress in modernizing its framework for exchange controls. Select one or more items in both lists to browse for the relevant content, Browse the selectedThemes and / or countries. Post was not sent - check your email addresses! Looking ahead, the Code will become increasingly relevant as major emerging economies open their capital accounts, Mr Gurria said. French, Polish Can a package from China cause Coronavirus infection? The March 2017 G20 Finance and Central Bank Governors communiqué encourages G20 countries that have not yet adhered to "consider adhering to the Code, taking into consideration country-specific circumstances". ( Log Out /  Co-operators: Photographer: Etienne Ansotte European Union, 2020 Source: EC – Audiovisual Service. International Capital Flows in the Post-Crisis World will bring together policy experts from all G20 countries for discussions on how the revised OECD Codes can improve transparency, accountability, credibility and trust. The OECD Code of Liberalisation of Capital Movements (the Code) was born with the OECD in 1961, at a time when many OECD countries were in the process of economic recovery and development and when the international movement of capital faced many barriers. is the online library of the Organisation for Economic Cooperation and Development (OECD) featuring its books, papers and statistics and is the knowledge base of OECD's analysis and data. Josep Borrell Fontelles, High Representative of the Union for Foreign Affairs and Security Policy. OECD member countries have committed themselves to maintaining and expanding the freedom for international capital movements and current invisible operations under the legally binding OECD Codes of Liberalisation. Russian, Linking. Change ), You are commenting using your Facebook account. ( Log Out /  “Going forward, I hope and trust that a broader set of countries will be able to rely on the revised Code as they continue opening their economies,” Mr Gurria said. is the online library of the Organisation for Economic Cooperation and Development (OECD) featuring its books, papers and statistics and is the knowledge base of OECD's analysis and data. Debunking the top 7 Coronavirus myths! Which role does art play in the COVID-19 pandemic? This article is brought to you in association with OECD. All. German, The OECD Code of Liberalisation of Capital Movements is an instrument for international co-operation on capital flow management and liberalisation. “In a financially ever more integrated world with increased capital flow spillovers, the Code provides a solid platform for multilateral debate, cooperation and consensus-making, discouraging countries from pursuing ‘beggar-thy-neighbour policies,’ Mr Gurria said. The OECD Code of Liberalisation of Capital Movements (the Code) was born with the OECD in 1961, at a time when many OECD countries were in the process of economic recovery and development and when the international movement of capital faced many barriers. “Fifteen of the G20 members are either adherent or in the process of adherence to the Code, demonstrating its value as a tool for international cooperation on capital flow management in the G20 context.”. Has the EU economy truly revived from the financial crisis? Trump ostracized by his party and world elites but still remains in course; how can he do it? This article is brought to you in association with, OECD Code of Liberalisation of Capital Movements, Integration or Fragmentation? OECD iLibrary English India and China are also gradually moving towards allowing greater capital mobility. This book is for public officials, legislators, private sector stakeholders, researchers and librarians. EU Parliament President David Sassoli (Credit: European Parliament). OECD member countries have committed themselves to maintaining and expanding the freedom for international capital movements and current invisible operations under the legally binding OECD Codes of Liberalisation.This publication explains the content and structure of the OECD Codes and the way they are implemented to achieve progressive liberalisation. OECD iLibrary OECD's dissemination platform for all published content - books, serials and statistics © 2020 The European Sting. OECD's dissemination platform for all published content - books, serials and statistics All Rights Reserved. It outlines the obligations of members and provides a comparison of degrees of liberalisation achieved by each member country in regard to capital movements. Approval was partially successful, following selected items could not be processed due to error, http://instance.metastore.ingenta.com/content/publication/9789264199897-en, South Georgia and the South Sandwich Islands, OECD Codes of Liberalisation of Capital Movements and of Current Invisible Operations, OECD Code of Liberalisation of Capital Movements. Approval was partially successful, following selected items could not be processed due to error, http://instance.metastore.ingenta.com/content/component/9789264199958-sum-pl, https://doi.org/10.1787/9789264199958-sum-pl, South Georgia and the South Sandwich Islands, OECD Codes of Liberalisation of Capital Movements and of Current Invisible Operations, OECD Code of Liberalisation of Capital Movements, OECD Codes of Liberalisation of Capital Movements and of Current Invisible Operations (Summary in Polish).