Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
November 2001
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    SELECTED DECISIONS AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    TWENTY-FIFTH ISSUE

    WASHINGTON, DC

    DECEMBER 31, 2000

    ISSN 009-1735

    Address orders to:

    International Monetary Fund, Publication Services

    700 19th Street, N.W. Washington, D.C. 20431, U.S.A.

    Telephone: (202) 623-7430 Telefax: (202) 623-7201

    E-mail: publications@imf.org

    Internet: http://www.imf.org

    PREFACE

    This volume is the Twenty-Fifth Issue of Selected Decisions of the International Monetary Fund and Selected Documents. It contains the decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, the volume contains certain documents relating to the Fund, the United Nations, and other international organizations. With few exceptions, the decisions are of a general nature and relate to certain obligations, policies, and procedures under the Articles of Agreement.

    This issue differs from the earlier issues in several respects. In particular, as the number of decisions in force keeps increasing and the decision format tends to be longer with the use of summings up in lieu of formal decisions, it has become necessary, in order to retain a single volume publication, to eliminate certain decisions that were included in earlier issues, i.e., those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions.

    Wherever reference is made in this volume to provisions of the Fund’s Articles or Rules and Regulations that have subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

    The General Counsel

    François P. Gianviti

    Contents

    LIST OF DECISIONS BY NUMBER

    1946 -1951
    NumberPage
    2-1491
    71-2128
    117-1510
    170-34
    180-5492
    237-2433
    284-3266
    284-4129
    286-1266
    287-3128
    363-1473
    408-23
    446-4420
    534-3471
    574-2 as
    amended by
    2620-(68/141)491
    597-4492
    1952 - 2001
    102-(52/11)130
    144-(52/51)422
    201-(53/29)425
    270-(53/95) as
    amended by
    876-(59/15)
    1151-(61/6)146
    343-(54/47)548
    433-(55/42)423
    541-(56/39)365
    649-(57/33)440
    876-(59/15) see
    270-(53/95)
    955-(59/45)427
    1034-(60/27)428
    1151-(61/6) see
    270-(53/95)
    1238-(61/43)128
    1289-(62/1) as
    amended by
    1362-(62/32)
    1415-(62/47)
    4421-(74/132)
    5792-(78/79)
    6241-(79/144)
    7337-(83/37)
    10175-(92/129)
    8733-(87/159)
    10176-(92/129)
    11609-(97/112)366
    1362-(62/32) see
    1289-(62/1)
    1415-(62/47) see
    1289-(62/1)
    2620-(68/141) see
    574-2
    3153-(70/95)197, 430
    4134-(74/4)432
    4239-(74/67)280
    4254-(74/75)444
    4377-(74/114) as
    amended by
    6339-(79/179)
    6830-(81/65)
    8885-(88/89)
    10182-(92/132)
    10186-(92/132)
    12343-(00/117)169
    4421-(74/132) see
    1289-(62/1)
    4913-(75/207) see
    2772-(69/47)
    5220-(76/144)169
    5392-(77/63) as
    amended by
    8564-(87/59)
    8856-(88/64)
    10950-(95/37)10
    5590-(77/163) as
    amended by
    11859-(98/130)339
    5591-(77/163)569
    5694-(78/35) see
    4773-(75/136)
    5702-(78/39) G/S as
    amended by
    7096-(82/57) G/S281
    5703-(78/39) as
    amended by
    6862-(81/81)
    8955-(88/126)
    12342-(00/117)273
    5704-(78/39)269
    5706-(78/39)164
    5709-(78/41) TR572
    5712-(78/41)8
    5792-(78/79) see
    1289-(62/1)
    5809-(78/88)276
    5832-(78/95) TR572
    5956-(78/180) S528
    6000-(79/1) S as
    amended by
    6438-(80/37) S529
    6001-(79/1) S530
    6026-(79/13) as
    amended by
    10273-(93/15)
    10364-(93/67)14
    6053-(79/34) S as
    amended by
    6438-(80/37) S532
    6054-(79/34) S as
    amended by
    6438-(80/37) S534
    6056-(79/38)149
    6172-(79/101)271
    6201-(79/121) TR573
    6202-(79/121) TR573
    6209-(79/124) S540
    6230-(79/140) as
    amended by
    11096-(95/100)
    12274-(00/85)154
    6241-(79/144), see
    1289-(62/1)
    6266-(79/156)4
    6273-(79/158) G/S256
    6274-(79/158)257
    6275-(79/158) G/S259
    6336-(79/178) S536
    6337-(79/178) S538
    6339-(79/179) see
    4377-(74/114)
    6352-(79/183)260
    6358-(79/188) TR as
    amended by
    8640-(87/101)S/TR575
    6368-(79/191) S528
    6437-(80/37) S539
    6438-(80/37)S, see
    6000-(79/1)S,
    6053-(79/34)S
    6054-(79/34)S
    6466-(80/68) TR573
    6467-(80/71)S520
    6484-(80/77) S522
    6486-(80/77) S523
    6487-(80/77) S523
    6488-(80/77) S523
    6489-(80/77) S523
    6540-(80/98) TR576
    6609-(80/126) S523
    6631-(80/145) G/S511
    6663-(80/160) S268
    6676-(80/168) TR574
    6683-(80/185) G/TR as
    amended by
    8523-(87/25) SBS
    8941-(88/122) SBS578
    67O4-(80/185)TR341,576
    6709-(81/1) S
    as amended by
    12157-(00/24) S517
    6718-(81/1) S523
    6774-(81/35)263
    6790-(81/43) as
    amended by
    11728-(98/56)442
    6793-(81/45)577
    6830-(81/65)164, 569
    6831-(81/65) as
    amended by
    7059-(82/23)
    12345-(00/117)276
    6832-(81/65) S545
    6844-(81/75)417
    6845-(81/75)417
    6854-(81/78) SBS as
    amended by
    8184-(86/9) SBS585
    6862-(81/81) see
    5703-(78/39)
    6870-(81/83) see
    6863-(81/81)
    6908-(81/101) S523
    6925-(81/112) see
    6863-(81/81)
    7059-(82/23), see
    6831-(81/65)
    7060-(82/23)569
    7064-(82/26) S523
    7086-(82/42) S523
    7096-(82/57)G/S, see
    5702-(78/39)G/S
    7116-(82/68) S546
    7142-(82/85) TR as
    amended by
    8640-(87/101)S/TR575
    7229-(82/136) S523
    7337-(83/37) see378
    1289-(62/1)
    7403-(83/73)385
    7427-(83/83)26
    7558-(83/156)170
    7582-(83/174) S523
    7589-(83/181)419
    7602-(84/3) see
    2772-(69/47)
    7628-(84/25)382
    7629-(84/25)383
    7704-(84/78)277
    7707-(84/79) S523
    7754-(84/108) SBS586
    7842-(84/165)163
    7857-(84/175)170
    7908-(85/26)549
    7925-(85/38) as
    amended by
    8887-(88/89)151
    7931-(85/41)500
    7989-(85/81)SBS585
    7999-(85/90)500
    8029-(85/105)342
    8037-(85/110) SBS586
    8160-(85/186) G/S as
    amended by
    12283-(00/98)514
    8165-(85/189) G/TR as
    amended by
    8496-(87/3) G/TR
    8641-(87/101) G/S/TR
    8923-(88/110) G/TR
    10000-(92/58) G/TR
    10337-(93/49) G/TR
    10352-(93/49) G/TR
    10551-(94/1) G/TR282
    8184-(86/9) SBS see
    6854-(81/78) SBS
    8185-(86/9) SBS/S585
    8186-(86/9) SBS/S525
    8192-(86/13)171
    8222-(86/45)128
    8238-(86/56) SAF as
    amended by
    8497-(87/3) SAF
    8652-(87/105) SAF
    8758-(87/176) SAF
    9118-(89/40) SAF
    9490-(90/106) SAF
    9863-(91/156) SAF/ESAF
    10093-(92/94) SAF
    10353-(93/49) SAF342
    8239-(86/56) SAF525
    8240-(86/56) SAF as
    amended by
    8542-(87/36) SAF
    8651-(87/105) SAF
    8935-(88/118) SAF
    9117-(89/40) SAF
    9986-(92/48) SAF
    10184-(92/132) SAF343
    8241-(86/56) SAF353
    8271-(86/74)285
    8318-(86/104) S523
    8348-(86/122) as
    amended by
    8481-(86/202)
    8482-(86/202)286
    8433-(86/175)281
    8481-(86/202) see
    8348-(86/122)
    8482-(86/202) see
    8348-(86/122)
    8492-(87/1) SBS587
    8496-(87/3) G/TR see
    8165-(85/189) G/TR
    8497-(87/3) SAF see
    8238-(86/56) SAF
    8523-(87/25) SBS587
    see also
    6683-(80/185) G/TR
    8542-(87/36) SAF see
    8240-(86/56) SAF
    8564-(87/59) see
    5392-(77/63)
    8583-(87/72)154
    8619-(87/90)272
    8640-(87/101) S/TR see
    6358-(79/188) TR and
    7142-(82/85) TR
    8641-(87/101) G/S/TR see
    8165-(85/189) G/TR
    8642-(87/101) S/TR500
    8648-(87/104)113
    8651-(87/105) SAF see
    8240-(86/56) SAF
    8652-(87/105) SAF see
    8238-(86/56) SAF
    8674-(87/117) SBS564
    8733-(87/159)357
    8757-(87/176) SAF/ESAF
    as amended by
    9987-(92/48) SAF/ESAF332
    8758-(87/176) SAF
    see 8238-(86/56) SAF
    8759-(87/176) ESAF as
    amended by
    9115-(89/40) ESAF
    9488-(90/106) ESAF
    9555-(90/146) ESAF
    9585-(90/161) ESAF
    10092-(92/94) ESAF
    10287-(93/23) ESAF
    10515-(93/162) ESAF
    10530-(93/170) ESAF
    10532-(93/170) ESAF
    11114-(95/110) ESAF
    11395-(96/110) ESAF
    11434-(97/10)
    11435-(97/10)
    11533-(97/67) ESAF
    11610-(97/113)
    11832-(98/119) ESAF
    12087-(99/118) PRGF
    12206-(00/55) PRGF
    12227-(00/66) PRGF
    12279-(00/86)
    12326-(00/111) PRGF
    12344-(00/117) PRGF44
    8760-(87/176) as
    amended by
    9989-(92/48)
    10531-(93/170) SAF357
    8780-(88/12)292
    8845-(88/61) ESAF as
    amended by
    9988-(92/48) ESAF
    10185-(92/132) ESAF
    10533-(93/170) ESAF
    11879-(99/2) ESAF77
    8846-(88/61) ESAF78
    8856-(88/64)
    see 5392-(77/63)
    8861-(88/67) as
    amended by
    8880-(88/84)294
    8880-(88/84)
    see 8861-(88/67)
    8885-(88/89)
    see 4377-(74/114)
    8887-(88/89)
    see 7925-(85/38)
    8897-(88/93)392
    8923-(88/110) G/TR
    see 8165-(85/189) G/TR
    8935-(88/118) SAF
    see 8240-(86/56) SAF
    8937-(88/118) ESAF/S526
    8941-(88/122) SBS589, 584
    see also
    6683-(80/185) G/TR
    8955-(88/126) as
    amended by
    9101-(89/30)
    9153-(89/59)
    9391-(90/43)
    9503-(90/114)
    9586-(90/161)
    9587-(90/161)
    9588-(90/161)
    9604-(90/170)
    10071-(92/85)
    10183-(92/132)
    10186-(92/132)
    10398-(93/89)
    10725-(94/58)
    11169-(95/122)
    11170-(95/122)
    11474-(97/36)
    11475-(97/36)
    11646-(98/1)
    11647-(98/1)
    11851-(98/127)
    11852-(98/127)
    11878-(99/2)
    12121-(00/4)
    12122-(00/4)
    12131-(00/9)
    12141-(00/16) CFF
    12325-(00/111)220, 568
    see also
    5703-(78/39) and
    9101-(89/30)
    9028-(88/71) see
    7599-(84/3) and
    7600-(84/3)
    9056-(89/2) ESAF79
    9101-(89/30)
    see 8955-(88/126)
    9114-(89/40) SAF/ESAF354
    9115-(89/40) ESAF
    see 8759-(87/176) ESAF
    9116-(89/40) ESAF356
    9117-(89/40) ESAF
    see 8240-(86/56) SAF
    9135-(89/46)298
    9153-(89/59)
    see 8955-(88/126)
    9189-(89/77)172
    9222-(89/97) SBS590
    9326-(89/167) see
    7599-(84/3) and
    7600-(84/3)
    9331-(89/167) as
    amended by
    9693-(91/48)
    10056-(92/78)
    10547-(94/1)201
    9391-(90/43)
    see 8955-(88/126)
    9471-(90/98) as
    amended by
    10341-(93/54)334
    9476-(90/101) see
    7599-(84/3)
    7600-(84/3)
    9487-(90/106) SAF/ESAF as
    amended by
    9776-(91/96) SAF/ESAF354
    9488-(90/106) ESAF see
    8759-(87/176) ESAF
    9490-(90/106) SAF see
    8238-(86/56) SAF
    9499-(90/111) as
    amended by
    10072-(92/85)
    10159-(92/122)16
    9503-(90/114) see
    8955-(88/126)
    9510-(90/122) SBS590
    9549-(90/146) G/S513
    9555-(90/146) ESAF see
    8759-(87/176) ESAF
    9585-(90/161) ESAF see
    8759-(87/176) ESAF
    9586-(90/161) see
    8955-(88/126)
    9587-(90/161) see
    8955-(88/126)
    9588-(90/161) see
    8955-(88/126)
    9604-(90/170) see
    8955-(88/126)
    9605-(90/170)499
    9693-(91/48) see
    9331-(89/167)
    9776-(91/96) SAF/
    ESAF see
    9487- (90/106) SAF/ESAF
    A-9786-(93/20) as
    amended by
    A-10615-(96/105)486
    9788-(91/105)591
    9788-(91/105) SBS591
    9790-(91/106)170
    9808-(91/114) SAF/ESAF355
    9809-(91/114) SAF355
    9862-(91/156)419
    9863-(91/156) SAF/ESAF
    see 8238-(86/56) SAF
    9986-(92/48) SAF see352
    8240-(86/56) SAF
    9987-(92/48) SAF/ESAF see
    8757-(87/176)SAF/ESAF
    9988-(92/49)ESAF see
    8845-(88/61)
    9989-(92/48) see
    8760-(87/176)
    10000-(92/58) G/TR
    see 8165-(85/189)G/TR
    10056-(92/78) see
    9331-(89/167)
    10071-(92/85) see
    8955-(88/126)
    10072-(92/85) see
    9499-(90/111)
    10089-(92/94) SAF/ESAF355
    10090-(92/94) SAF356
    10092-(92/94) ESAF
    see 8759-(87/176)ESAF
    10093-(92/94) see
    8328-(86/56) SAF
    10159-(92/122) see
    9499-(90/111)
    10168-(92/127)17
    10175-(92/129) see378
    1289-(62/1)
    10176-(92/129)378
    10182-(92/132) see
    4377-(74/114)
    10183-(92/132) see
    2722-(69/47) and
    8955-(88/126)
    10184-(92/132) SAF,350
    see 8240-(86/56) SAF
    10185-(92/132)ESAF
    see 8845-(88/61) ESAF
    10225-(92/147) S524
    10235-(92/149)394
    10237-(92/150)632
    10273-(93/15) as
    amended by
    10886-(95/2) see also
    6026-(79/13)
    10286-(93/23) ESAF as
    amended by
    12228-(00/66) PRGF359
    10287-(93/23) ESAF see
    8759-(87/176)
    10305-(93/32)501
    10337-(93/49) G/TR see
    8165-(85/189) G/TR
    10340-(93/54) as
    amended by
    10549-(94/1)301
    10341-(93/54) see
    9471-(90/98)
    10348-(93/61)STF as
    amended by
    10760-(94/71)STF
    10855-(94/109) STF251, 569
    10352-(93/49) G/TR
    see 8165-(93/49) G/TR
    10353-(93/49) SAF
    see 8238-(86/56) SAF
    10362-(93/67)18
    10364-(93/67) see
    6026-(79/13)
    10365-(93/67)112
    10391-(93/86) as
    amended by
    10552-(94/1)
    10554-(94/1)285
    10398-(93/67) see
    8955-(88/126)
    10464-(93/130)173
    10530-(93/170) ESAF68
    10531-(93/170) SAF359
    see also
    8760-(87/176)
    10532-(93/170) ESAF68
    see 8759-(87/176) ESAF
    10533-(93/170) ESAF68
    see 8845-(88/61)ESAF
    10534-(93/170) ESAF68, 79
    10535-(93/170) SAF68, 352
    10547-(94/1) see
    9331-(89/167)
    10549-(94/1) see
    10340-(93/54)
    10551-(94/1)G/TR see
    8165-(85/189)G/TR
    10552-(94/1) see
    10391-(93/86)
    10554-(94/1) see
    10391-(93/86)
    10575-(94/4)688
    10597-(94/14) ESAF69
    10598-(94/14) SAF352
    A-10615-(96/105)437
    10660-(94/38)305
    10662-(94/38)337
    10704-(94/52)307
    10705-(94/52)307
    10706-(94/52)309
    10723-(94/58)173
    10725-(94/58) see
    8955-(88/126)
    10749-(94/67)424
    10760-(94/71) STF see
    10348-(93/61) STF
    10850-(94/107)308
    10855-(94/109) STF see
    10348-(93/61) STF
    10942-(95/33) as
    amended by
    11162-(95/121)105
    10950-(95/37)10
    10958-(95/40)312
    10961-(95/41)255
    10968-(95/43)479
    10989-(95/53) ESAF352
    11027-(95/65) ESAF78
    11073-(95/92) G/S513
    11096-(95/100)154
    11162-(95/121)105
    11192-(96/2) as
    amended by
    11915-(99/23)470
    11248-(96/38)157
    11249-(96/39)315
    11251-(96/39)317
    11325-(96/77) SAF352
    11381495/105)701
    11395-(96/110) ESAF see
    8759-(87/176)
    11428-(97/6)397
    11429-(97/6)415
    11434-(97/10) see
    8759-(87/176)
    11435-(97/10) see
    8759-(87/176)
    11436-(97/10) as
    amended by
    11492-(97/45)
    11861-(98/131) ESAF
    12087-(99/118) PRGF
    12132-(00/9) PRGF80
    11474-(97/36) see
    8955-(88/126)
    11475-(97/36) see
    8955-(88/126)
    11480-(97/42)318
    11482-(97/42) as
    amended by
    11683-(98/27)321
    11483-(97/42)321
    11492-(97/45) see
    11436-(97/10)
    11493-(97/45)29
    11515-(97/59)184
    11533-(97/67) ESAF45
    11609-(97/112)378
    11610-(97/113)45
    11626-(97/122)395
    11627-(97/123) SRF
    as amended by
    11866-(99/1) SRF
    11895-(99/11) SRF
    11942-(99/48) SRF/CCL
    11982-(99/61) SRF/CCL
    12197-(00/48) SRF/CCL
    12340-(00/117) SRF/
    CCL233, 570
    11646-(98/1)230
    11647-(98/1)230
    11675-(98/122)697
    11683-(98/27)69, 246
    11698-(98/38) ESAF95
    11710-(98/49)322
    11711-(98/49)322
    11712-(98/49)323
    11713-(98/49) ESAF69
    11714-(98/49)337
    11715-(98/49) G/SAF/TR284
    11716-(98/49)246
    11728-(98/56)444
    11801-(98/101) G/S514
    11803-(98/101) G/S517
    11832-(98/119) ESAF45, 67
    11837-(98/121)262
    11846-(98/125)28
    11857-(98/130)571
    11875-(99/1)478
    11876-(99/2)209
    11877-(99/2)208
    11943-(99/49)325
    11944-(99/49)326
    11945-(99/49)329
    11946-(99/49) ESAF69
    11947-(99/49)337
    11948-(99/49) G/SAF/TR285
    11949-(99/49) SRF/CCL247
    11973-(99/58)501
    11976-(99/59) S543
    12032-(99/87) ESAF79
    12058-(99/110) Y2KF247
    12060-(99/130)338
    12061-(99/130)119
    12062-(99/130)526
    12063-(99/130)278, 362
    12064-(99/130)328
    12065-(99/130) PRGF70
    12067-(99/108)131
    12087-(99/118) PRGF45, 80, 98
    12103-(99/135)210
    12142-(00/16)232
    12152-(00/21)341
    12178-(00/41)17
    12184-(00/42)233
    12185-(00/42)209
    12188-(00/45)327
    12189-(00/45)331
    12190-(00/45) G/SAF/TR285
    12191-(00/45) SRF/CCL247
    12197-(00/48) SRF/CCL239
    12206-(00/55) PRGF45
    12219-(00/63)146
    12227-(00/66) PRGF361
    12228-(00/66) PRGF45
    12230 (00/115)363
    12231-(00/68)326
    12232-(00/68)334
    12238-(00/71)3
    12239-(00/71)492
    12249-(00/77)160
    12250-(00/77)162
    12252-(00/77)65
    12253-(00/77)66
    12254-(00/77)66
    12278-(00/86)154
    12279-(00/86)45
    12281-(00/98)515
    12282-(00/98)518
    12317-(00/102)503
    12329-(00/113)524
    12341-(00/117)191
    12346-(00/117)280
    12347-(00/117)327
    12350-(00/119)334
    12385-(00/129)210
    12402-(01/1)473
    12403-(01/1)519

    LIST OF BOARD OF GOVERNORS’ RESOLUTIONS

    NumberPage
    IM-6595
    6-8596
    24-12633
    29-1523
    29-7598
    29-8598
    29-9606
    29-10612
    34-3635
    48-4606
    53-2628
    54-9602
    54-10647

    INTERPRETATIONS UNDER ARTICLE XXIX(a)

    • Interpretations of Articles of Agreement (71-2

    • Unenforceability of Exchange Contracts: Fund’s Interpretation of Article VIII, Section 2(b) (446-4)

    • Interpretation of Article IX, Section 7 (534-3)

    • Interpretation of Article XII, Section 3(b) (i) and 3(f) (2-1)

    • Interpretation of Article XXVI, Section 2* (343-(54/47))

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