World Trade Organization WT/TF/COH/13 14 February 2003 (03-0970) Original: English communication from the international monetary fund The following contribution has been received from the staff of the International Monetary Fund. It has been prepared in response to consultations between the WTO Director-General and the Deputy Managing Director of the IMF on how the IMF can provide support to the WTO Secretariat and Members in areas of its expertise. _______________ Trade Restrictions for Balance-of-Payments Purposes Note on Issues Raised by Developing Countries in the Doha Round EXECUTIVE SUMMARY A number of WTO members have noted in the context of discussions of special and differential treatment that increased capital account mobility has increased the prudent level of reserve holdings, and that trade restrictions can play a role in safeguarding reserves in the event of a capital account crisis. This note considers these and related