TIDBIT FROM SANDY INGRAM: The central bank must also avoid multiple exchange rates or practices

  Sandy Ingram  

 This is what is important. 

 To obtain IMF Article VIII status a country must demonstrate that it maintains a freely usable and convertible currency and allows current account transactions to flow without restrictions. 

 This means the country cannot impose controls or delays on international payments.. .

The central bank must also avoid multiple exchange rates or practices...Instead it must commit to transparent market-based exchange rate policies and permit fair access to foreign exchange.