International fi nance is concerned with the mechanics of international transactions. Thus, in Chapters 9 and 10 there was a discussion of the goals of foreign exchange policy but in this chapter (11.2) the means of intervention are considered. Much of international fi nance is concerned with loans, so the availability of credit to nations, and the size of their reserves, is the crucial issue in international fi nance (11.3). This leads to a discussion of the demand for reserves (11.4). In Chapters 12 and 13 specifi c institutional arrangements are discussed, broadly the public sector ones in Chapter 12 and the private sector in Chapter 13.