Selected Macrofinancial Data I  

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Important: Countries in the following table (with the exception of Cuba and the Cayman Islands) are grouped according to the Exchange Rate Regime reported in the IMF's "Annual Report on Exchange Arrangements and Exchange Restrictions, 2021. " This IMF classification is based on the de facto exchange rates identified by IMF staff, so they may differ from the de jure exchange rates.

Last update: June 23, 2023.
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Notes:

1/ The sources for exchange rates are the websites of the corresponding central bank. Data at end-of-day of the last update.
2/ Year-to-year growth data estimated from non-seasonality adjusted series, except for Ecuador.
3/ On June 7, 2021, the Central Bank of Suriname stated that the Bank is leaving the then-current controlled-floating exchange rate system and adopting a flexible exchange rate system. Note then that this is not yet stated on IMF's “Annual Report on Exchange Arrangements and Exchange Restrictions, 2021”. URL retieved on June 18, 2021.
4/ ECCU stands for Eastern Caribbean Currency Union whose Central Bank is the ECCB.

Brief description of the exchange rate regimes:

  • No separate legal tender: This classification implies a de jure exchange rate in which the currency of another country circulates as the only legal tender.
  • Currency board: This classification implies a de jure exchange rate in which there is an explicit legislative commitment to exchange national currency for a specific foreign currency at a fixed exchange rate.
  • Conventional peg: In this category, the country formally sets its de jure exchange rate at a fixed rate against another currency or a basket of currencies. The weights of the anchor currency or basket are public or are notified to the IMF. The country's authorities are willing to maintain the fixed parity through direct intervention.
  • Stabilized arrangement: This classification implies an exchange rate in the spot market that remains within a 2% margin for six months or more and is not floating.
  • Crawling peg: In this category the de jure exchange rate is adjusted in small amounts, at a fixed rate, or in response to changes in selected quantitative indicators; for example, based on the differentials between the inflation target and expected inflation in major trading partners. The rules and parameters of the arrangement are either public or notified to the IMF.
  • Crawl-like arrangement: In this classification, the exchange rate must remain within a 2% margin in relation to a statistically identified trend for six months or more and where the exchange rate cannot be considered as floating.
  • Other managed arrangement: This category is used when the exchange rate regime does not meet the criteria of any of the above categories.
  • Floating: A floating exchange rate is largely determined by the market, and has no particular or predictable trajectory. Intervention in the exchange market can be direct or indirect, and such intervention serves to avoid undue fluctuations in the exchange rate, but only if these policies do not aim at a specific level. Floating regimes can exhibit some volatility, depending on the magnitude of the shocks affecting the economy.
  • Free floating: A floating exchange rate can be classified as free floating if the interventions occur only in exceptional cases and are intended to correct disorderly exchange market conditions and if the authorities provide information confirming that the interventions have occurred in a maximum of three instances in the previous six months, where each intervention lasted no more than three working days.

    • Country-specific notes and sources for medium and long-term interest rates

    • Brazil: Notes: Monthly averages of the midpoint of the sale rate and the purchase rate of each instrument.
      Source: With information from Tesouro Direto .
    • Chile: Notes: The interest rates correspond to the "Benchmark in pesos" of 5 and 10 years. These are the weighted average by amount of interest rates of Central Bank and Treasury bonds issued in the primary market, and of bonds traded in the Santiago Stock Exchange (Statistical Bulletin - August 18, 2020). The interest rate is of the day indicated in the table.
      Source: Central Bank of Chile.
    • Colombia: Notes: Daily interest rate, taken from the zero-coupon rates estimated the day indicated in the table. Zero coupon rates are calculated from information on market prices of TES in pesos, using Nelson & Siegel's model. For this calculation, the information of the operations negotiated and registered in the negotiation systems administered by Banco de la República and Bolsa de Valores de Colombia is used.
      Source: Banco de la República.
    • Costa Rica: Notes: Sovereign yield curve rates with data for the day indicated in the table. Rates net of taxes. The yield curve is estimated with weekly data.
      Source: Central Bank of Costa Rica.
    • Mexico: Notes: Fixed-rate bonds with maturities of 5-, 10- and 20-years. The interest rate is the monthly average of the month indicated in the table. Rates net of taxes.
      Source: Bank of Mexico.
    • Peru: Notes: 5-, 10- and 20-year rates recorded in the daily report. The interest rate is of the dayate indicated in the table.
      Source: Ministry of Economy and Finance.

    Country-specific notes and sources for growth data:

    • Argentina: Source: National Institute of Statistics and Censuses (INDEC).
    • Aruba: Source: Centrale Bank van Aruba.
    • Bahamas: Source: Department of Statistics - Government of the Bahamas.
    • Barbados: Source: Central Bank of Barbados.
    • Belize: Source: Statistical Institute of Belize.
    • Bolivia: Source: National Institute of Statistics.
    • Brazil: Source: Brazilian Institute of Geography and Statistics
    • Chile: Source: Central Bank of Chile.
    • Colombia: Source: National Administrative Department of Statistics.
    • Costa Rica: Source: Central Bank of Costa Rica.
    • Cuba: Source: Estimate from the United Nations Conference on Trade and Development.
    • Curaçao and Sint Maarten: Source: Centrale Bank Curacao & Sint Maarten.
    • ECCU: Source: ECCB.
    • Ecuador: Note: Growth estimated using the quarterly seasonally adjusted GDP series. Source: Central Bank of Ecuador.
    • El Salvador: Source: Central Reserve Bank of El Salvador.
    • Guatemala: Source: Bank of Guatemala.
    • Guyana: Source: Bank of Guyana.
    • Haiti: Source: Institut Haïtien de Statistique et d'Informatique.
    • Honduras: Source: Central Bank of Honduras.
    • Cayman Islands: Source: Economics and Statistics Office.
    • Jamaica: Source: Statistics Institute of Jamaica.
    • Mexico: Note: Preliminary growth datum.
      Source: National Institute of Statistics and Geography (INEGI).
    • Nicaragua: Source: Central Bank of Nicaragua.
    • Paraguay: Source: Central Bank of Paraguay.
    • Peru: Source: National Institute of Statistics and Information Technology.
    • Dominican Republic: Source: Central Bank of the Dominican Republic.
    • Suriname: Source: Centrale Bank van Suriname.
    • Trinidad and Tobago: Source: Central Bank of Trinidad and Tobago.
    • Uruguay: Source: Central Bank of Uruguay.
    • Venezuela: Source: Central Bank of Venezuela.