This document aims to provide developing country decision-makers with practical guidance and tools in the area of Risk Management -- the use of hedging devices, such as futures and options, in order or reduce uncertainties in a country's foreign exchange revenues or expenditures. The documen surveys the risk management tools that exist, the ciscumtances under which those tools could be usefully employed, the instances in which they have been sucessfully used by developing countries, and provides indications of how to approach hedging operations and suggestions to further their usage through changes in domestic regulatory regimes governing financial transactions.