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International monetary cooperation
Since global trade in goods and services is increasing, international cooperation on monetary matters is important for Switzerland. For this reason, Switzerland became a member of the International Monetary Fund (IMF), in which it is represented by the Chairman of the Governing Board of the National Bank and the Finance Minister. The IMF monitors the economic policy of its member states on a regular basis, as well as examining the performance of the world economy. In extreme cases it assists its members by making credit facilities available to them. The National Bank is also a member of the Bank for International Settlements (BIS), which promotes international monetary cooperation. Another important institution is the Organisation for Economic Cooperation and Development (OECD). And finally, the National Bank also maintains active contacts with other central banks.
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