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International Monetary Fund. Western Hemisphere Dept.
This Informational Annex highlights the Canadian authorities’ free-floating exchange rate regime. The exchange rate regime is free from exchange restrictions and multiple currency practices. The Canadian authorities do not maintain margins with respect to exchange transactions. However, the authorities may intervene to ensure orderly conditions in the exchange market. There are no taxes or subsidies on purchases or sales of foreign exchange. Canada’s exchange system is free of restrictions on the making of payments and transfers for current international transactions. Canada also maintains exchange restrictions for security reasons, based on UN Security Council resolutions reported to the IMF for approval.
International Monetary Fund. Western Hemisphere Dept.

Context 1. Chile maintains very strong economic fundamentals and institutional policy frameworks, with a sustained track record of implementing very strong policies . Monetary policy is anchored in a highly credible inflation-targeting framework, accompanied by a free-floating exchange rate regime. The financial system is resilient and functions well within a sound regulatory framework. Fiscal policy has been guided by a structural fiscal balance rule since 2001, which allowed Chile to build ample fiscal space during commodity price booms. Chile has