IMF to change exchange-rate surveillance methods

The International Monetary Fund (IMF) on Tuesday is to alter the way in which its monitors members' exchange-rate policies.

The new measures are based on four principles:

· that authorities avoid manipulating exchange rates or the international monetary system to prevent effective balance of payments adjustments or to gain an unfair competitive advantage;

· that authorities intervene in the exchange market to counter disorderly movements;

· that authorities consider the impact of their int