Selected Decisions and Selected Documents of the International Monetary Fund
Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
August 1999
    Share
    • ShareShare
    Show Summary Details

    SELECTED DECISIONS AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    TWENTY-FOURTH ISSUE

    WASHINGTON, DC

    JUNE 30, 1999

    PREFACE

    This volume is the Twenty-Fourth 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.

    The Fourteenth Issue had an accompanying Annex containing bilateral borrowing agreements entered into by the Fund for the financing of the Enlarged Access Policy and for the financing of the ESAF Trust and associated lending, as well as related decisions adopted by April 30, 1989; an updated Annex containing bilateral borrowing agreements and related decisions in force on November 30, 1995 was published as an Annex to the Twentieth Issue. Bilateral borrowing agreements entered into by the Fund in connection with the General Arrangements to Borrow are included in this volume.

    This issue contains the decisions published in the Twenty-Third Issue that remain in effect, as well as new general decisions adopted after the publication of the Twenty-Third Issue.

    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

    NumberPage
    1946-1951
    2-1564
    71-299
    117-1570
    170-33
    180-5565
    237-2504
    284-3314
    284-4100
    286-1314
    287-399
    363-1546
    408-23
    446-4491
    534-3543
    574-2, as amended

    by 2620-(68/141)
    564
    597-4565
    1952-1999
    102-(52/11)100
    144-(52/51)493
    201-(53/29)496
    270-(53/95),

    as amended by

    876-(59/15) and

    1151-(61/6)
    134
    343-(54/47)607
    433-(55/42)494
    541-(56/39)422
    649-(57/33)511
    876-(59/15), see

    270-(53/95)
    955-(59/45)49
    1034-(60/27)49
    1151-(61/6), see

    270-(53/95)
    1238-(61/43)9
    1289-(62/1), as

    amended by

    1362-(62/32),

    1415-(62/47),

    4421-(74/132),

    5792-(78/79),

    6241-(79/144),

    7337-(83/37), and

    10175-(92/129)
    42
    1362-(62/32), see

    1289-(62/1)
    1415-(62/47) see

    1289-(62/1)
    2620-(68/141), see

    574-2
    2772-(69/47), as

    amended by

    4913-(75/207),

    7602-(84/3),

    10183-(92/132), and

    (11878-(99/2)
    26
    3153-(70/95)102, 50
    3179-(70/102)26
    3351-(71/51)26
    4134-(74/4)50
    4239-(74/67)32
    4254-(74/75)51
    4377-(74/114), as

    6339-(79/179), 6830-(81/65)

    8885-(88/89),

    10182-(92/132),

    and

    10186-(92/132)
    150
    4421-(74/132), see

    1289-(62/1)
    4913-(75/207), see

    2772-(69/47)
    5069-(76/72)613
    5127-(76/91)267
    5220-(76/144)154
    5371-(77/51)609
    5392-(77/63), as

    amended by

    8564-(87/59)

    8856-(88/64) and

    10950-(95/37)
    10
    5508-(77/127)293, 609
    5509-(77/127)477
    5563-(77/150) TR622
    5590-(77/163), as

    amended by

    11859-(98/130)
    383
    5591-(77/163)608
    5597-(77/171)270
    5694-(78/35), see

    4773-(75/136)
    5702-(78/39) G/S

    as amended by

    7096-(82/57)G/S
    326
    5703-(78/39), as

    amended by

    6862-(81/81) and

    8955-(88/126)
    321
    5704-(78/39)317
    5706-(78/39)150
    5709-(78/41)TR625
    5712-(78/41)8
    5719-(78/46)612
    5792-(78/79), see

    1289-(62/1)
    5809-(78/88)324
    5832-(78/95)TR625
    5956-(78/180)S585
    5972-(78/189)TR623
    5973-(78/189)TR624
    6000-(79/1)S, as

    amended by

    6438-(80/37)S
    586
    6001-(79/1)S587
    6006-(79/3)485
    6008-(79/3)485
    6026-(79/13), as

    amended by 10273-

    (93/15) and

    10364-(93/67)
    15
    6053-(79/34)S, as

    amended by

    6438-(80/37)S
    589
    6054-(79/34)S,

    as amended by

    6438-(80/37)S
    591
    6056-(79/38)137
    6163-(79/96)486
    6172-(79/101)319
    6201-(79/121)TR626
    6202-(79/121)TR626
    6209-(79/124)S598
    6230-(79/140), as

    amended by

    11096-(95/100)
    142
    6241-(79/144), see

    1289-(62/1)
    6266-(79/156)4
    6273-(79/158)G/S300
    6274-(79/158)301
    6275-(79/158)G/S303
    6336-(79/178) S593
    6337-(79/178) S595
    6339-(79/179), see

    4377-(74/114)
    6352-(79/183)304
    6358-(79/188)TR,

    as amended by

    8640-(87/101) S/TR
    628
    6368-(79/191)S585
    6437-(80/37)S596
    6438-(80/37)S, see

    6000-(79/1)S,
    6053-(79/34)S, and
    6054-(79/34)S
    6466-(80/68)TR626
    6467-(80/71)S577
    6484-(80/77)S580
    6486-(80/77)S580
    6487-(80/77)S581
    6488-(80/77)S581
    6489-(80/77)S581
    6540-(80/98)TR629
    6609-(80/126)S581
    6631-(80/145)G/S571
    6663-(80/160)S316
    6676-(80/168)TR627
    6683-(80/185)G/TR,

    as amended by

    8523-(87/25)SBS

    and

    8941-(88/122)SBS
    631
    6704-(80/185)TR385, 629
    6709-(80/189) S576
    6718-(81/1)S581
    6772-(81/35)G/S306
    6774-(81/35)310
    6783-(81/40), as

    amended by

    8885-(88/89)
    207, 610
    6790-(81/43), as

    amended by

    11728-(98/56)
    513
    6793-(81/45)630
    6830-(81/65),

    see also 4377-(74/114)
    149, 610
    6831-(81/65), as

    amended by

    7059-(82/23)
    324
    6832-(81/65)S602
    6844-(81/75)487
    6845-(81/75)488
    6854-(81/78)SBS, as

    amended by

    8184-(86/9)SBS
    638
    6862-(81/81), see

    5703-(78/39)
    6870-(81/83), see

    6863-(81/81)
    6908-(81/101)S581
    6925-(81/112), see

    6863-(81/81)
    7041-(82/8)G/S603
    7059-(82/23), see

    6831-(81/65)
    7060-(82/23)610
    7064-(82/26)S581
    7086-(82/42)S581
    7096-(82/57)G/S,

    see

    5702-(78/39)G/S
    7116-(82/68)S605
    7142-(82/85)TR, as

    amended by

    8640-(87/101)S/TR
    628
    7229-(82/136)S581
    7246-(82/147)272
    7247-(82/147)268
    7337-(83/37), see

    1289-(62/1)
    436
    7403-(83/73)443
    7427-(83/83)20
    7558-(83/156)155
    7582-(83/174)S581
    7589-(83/181)490
    7602-(84/3), see

    2772-(69/47)
    7626-(84/23)S309
    7628-(84/25)440
    7629-(84/25)441
    7704-(84/78)325
    7707-(84/79)S581
    7754-(84/108)SBS640
    7842-(84/165)147
    7857-(84/175)155
    7908-(85/26)107
    7925-(85/38), as

    amended by

    8887-(88/89)
    140
    7931-(85/41)567
    7941-(85/50)S309
    7989-(85/81)639
    7990-(85/81)385
    7999-(85/90)567
    8029-(85/105)386
    8037-(85/110)SBS640
    8160-(85/186)G/S574
    8165-(85/189)G/TR

    as amended by

    8496-(87/3)G/TR,

    8641 -(87/101)G/TR,

    8923-(88/110)G/TR,

    10000-(92/58)G/TR,

    10337-(93/49)G/TR,

    10352-(93/49)G/TR,

    and

    10551-(94/1)G/TR
    328
    8184-(86/9)SBS, see

    6854-(81/78)SBS
    8185-(86/9)SBS/S639
    8186-(86/9)SBS/S582
    8192-(86/13)156
    8222-(86/45)87
    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 and 10353-

    (93/49)SAF
    386
    8239-(86/56) SAF583
    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, and

    10184-(92/132)SAF
    394
    8241-(86/56)SAF398
    8265-(86/70)S309
    8271-(86/74)331
    8318-(86/104)S581
    8348-(86/122), as

    amended by

    8481-(86-202) and

    8482-(86/202)
    332
    8433-(86/175)327
    8442-(86/178)332
    8481-(86/202), see

    8348-(86/122)
    8482-(86/202), see

    8348-(86/122)
    8492-(87/1)SBS641
    8496-(87/3)G/TR, see

    8165-(85/189)G/T
    8497-(87/3)SAF, see

    8238-(86/56)SAF
    8523-(87/25)SBS

    see also

    6683-(80/185)G/TR
    641
    8542-(87/36)SAF, see

    8240-(86/56)SAF
    396
    8564-(87/59), see

    5392-(77/63)
    8574-(87/64)S310
    8583-(87/72)156
    8619-(87/90)339
    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/TR582
    8651-(87/105)SAF, see

    8240-(86/56)SAF
    8652-(87/105)SAF, see

    8238-(86/56)SAF
    8674-(87/117)SBS642
    8733-(87/159)435
    8757-(87/176)

    SAF/ESAF, as amended

    by 9987-(92/48)

    SAF/ESAF
    411
    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), and

    11832-(98/119)ESAF
    30
    8760-(87/176), as

    amended by

    9989-(92/48) and

    10531-(93/170)SAF
    415
    8780-(88/12)339
    8845-(88/61)ESAF

    as amended by

    9988-(92/49)ESAF,

    10185-(93/132)ESAF

    10533-(93/170)ESAF, and

    11879-(99/2)ESAF
    61
    8846-(88/61)ESAF63
    8856-(88/64) see

    5392-(77/63)
    8861-(88/67), as amended

    by 8880-(88/84)
    341
    8880-(88/84), see

    8861-(88/67)
    8885-(88/89), see

    4377-(74/114) and

    6783-(81/40)
    8887-(88/89), see

    7925-(85/38)
    8897-(88/93)451
    8923-(88/110)G/TR

    see 8165-(85/189)

    G/TR
    8935-(88/118)SAF,

    see 8240-(86/56)SAF
    8937-(88/118)ESAF/S583
    8941-(88/122)SBS,

    see also

    6683-(80/185)G/TR
    643
    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),

    11647-(98/1),

    11851-(98/127),

    11852-(98/127), and

    11878-(99/2) see also 5703-(78/39) and

    9101-(89/30)
    222, 608
    9028-(88/71), see

    7599-(84/3)

    7600-(84/3)
    9056-(89/2)ESAF63
    9101-(89/30), see

    8955-(88/126)
    9114-(89/40)SAF/ESAF412
    9115-(89/40)ESAF, see

    8759-(87/176)ESAF
    9116-(89/40)ESAF414
    9117-(89/40)SAF, see

    8240-(86/56)SAF
    9118-(89/40)SAF, see

    8238-(86/56)SAF
    9135-(89/46)345
    9153-(89/59)see

    8955-(88/126)
    9189-(89/77)157
    9222-(89/97)SBS644
    9326-(89/167) see

    7599-(84/3) and

    7600-(84/3)
    9331-(89/167)

    as amended by

    9693-(91/48),

    10056-(92/78)

    and 10547-(94/1)
    198
    9391 -(90/43) see

    8955-(88/126)
    9403-(90/53)274
    9471-(90/98)

    as amended by

    10341-(93/54)
    378
    9476-(90/101), see

    7599-(84/3) and

    7600-(84/3)
    9487-(90/106)SAF/ESAF

    as amended by

    9776-(91/96)

    SAF/ESAF
    412
    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) and

    10159-(92/122)
    16
    9503-(90/114), see

    8955-(88/126)
    9510-(90/122)SBS644
    9549-(90/146)G/S573
    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)566
    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)
    559
    9788-(91/105)645
    9790-(91/106)157
    9808-(91/114)SAF/ESAF413
    9809-(91/114) SAF414
    9862-(91/156)489
    9863-(91/156)SAF/ESAF,

    see 8238-(86/56) SAF
    9986-(92/48)SAF, see

    8240-(86/56) SAF
    398
    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/ESAF
    413
    10090-(92/94) SAF414
    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)18
    10175-(92/129), see

    1289-(62/1)
    436
    10176-(92/129)435
    10181-(92/132)211
    10182-(92/132), see

    4377-(74/114)
    10183-(92/132), see

    2722-(69/47) and

    8955-(88/126)
    10184-(92/132) SAF,

    see 8240-(86/56) SAF
    394
    10185-(92/132)ESAF,

    see 8845-(88/61)ESAF
    10186-(92/132), see

    also 4377-(74/114)

    and 8955-(88/126)
    265
    10225-(92/147)S581
    10235-(92/149)452
    10237-(92/150)733
    10273-(93/15),

    see also 6026-(79/13)
    17
    10278-(93/19) S310
    10279-(93/19)307
    10286-(93/23)ESAF417
    10287-(93/23)ESAF

    see 8759-(87/176)
    10305-(93/32)568
    10337-(93/49)G/TR

    see 8165-(85/189)

    G/TR
    10340-(93/54), as

    amended by 10549-(94/1)
    348
    10341-(93/54), see

    9471-(90/98)
    10348-(93/61) STF

    as amended by

    10760-(94/71) STF

    and 10855-(94/109)

    STF
    289, 611
    10352-(93/49) G/TR

    see 8165-(93/49)G/TR
    10353-(93/49) SAF

    see 8238-(86/56)SAF
    10362-(93/67)19
    10364-(93/67), see

    6026-(79/13)
    10365-(93/67)92
    10391-(93/86), as

    amended by

    10552-(94/1) and

    10554-(94/1)
    351
    10398-(93/89), see

    8955-(88/126)
    10464-(93/130)158
    10515-(93/162)ESAF

    see 8759-(87/176)

    ESAF
    10530-(93/179)ESAF

    see also 8759-(89/176) ESAF
    52
    10531-(93/170)SAF

    see also 8760-(87/176)
    52, 417
    10532-(93/170)ESAF,

    see 8759-(87/176) ESAF
    52
    10533-(93/170)ESAF,

    see 8845-(88/61)ESAF
    52
    10534-(93/170)ESAF52, 63
    10535-(93/170)SAF52, 398
    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)789
    10597-(94/14)ESAF53
    10598-(94/14)SAF398
    A-10615-(96/105)560
    10660-(94/38)352
    10662-(94/38)381
    10704-(94/52)355
    10705-(94/52)355
    10706-(94/52)356
    10723-(94-58)158
    10725-(94/58), see

    8955-(88/126)
    10749-(94/67)495
    10760-(94/71) STF

    see 10348-(93/61)

    STF
    10819-(94/95)212
    10850-(94/107)356
    10855-(94/109) STF

    see 10348-(93/61) STF
    10873-(95/1)398
    10886-(95/2)17
    10904-(95/13)308
    10942-(95/33), as

    amended by

    11162-(95/121)
    83
    10949-(95/37)17
    10950-(95/37)10
    10957-(95/40)359
    10958-(95/40)359
    10961-(95/41)293
    10962-(95/41)362
    10968-(95/43)552
    10989-(95/53) SAF398
    11027-(95/65) ESAF62
    11073-(95/92) G/S573
    11096-(95/100)142
    11098-(95/101)213
    11162-(95/121)84
    11192-(96/2), as

    amended by
    11915-(99/23)542
    11248-(96/38)145
    11249-(96/39)363
    11251-(96/39)366
    11325-(96/77) SAF398
    11374-(96/102)213
    11381-(96/105)802
    11395-(96/110) ESAF,

    see 8759-(87/176)
    11409-(97/1) ESAF419
    11428-(97/6)455
    11429-(97/6)475
    11434-(97/10), see

    8759-(87/176)
    11435-(97/10), see

    8759-(87/176)
    11436-(97/10), as

    amended by

    11492-(97/45), and

    11861-(98/131) ESAF
    64
    11474-(97/36), see

    8955-(88/126)
    11475-(97/36), see

    8955-(88/126)
    11477-(97/38)18
    11480-(97/42)367
    11482-(97/42)370
    11483-(97/42)370
    11492-(97/45), see

    11436-(97/10)
    11493-(97/45)27
    11515-(97/59)170
    11533-(97/67) ESAF31
    11608-(97/112)213
    11609-(97/112)435
    11610-(97/113)31
    11626-(97/122)454
    11627-(97/123) SRF,

    as amended by

    11866-(99/1) SRF

    11895-(99/11) SRF

    11942-(99/48)SRF/CCL

    and 11982-(99/61)

    SRF/CCL
    281, 611
    11646-(98/1)252
    11647-(98/1)252
    11648-(98/1) ESAF420
    11649-(98/1)711
    11675-(98/21)799
    11683-(98/27)53, 288
    11698-(98/38) ESAF80
    11710-(98/49)371
    11711-(98/49)371
    11712-(98/49)372
    11713-(98/49)ESAF53
    11714-(98/49)381
    11715-(98/49)G/SAF/TR330
    11716-(98/49)288
    11728-(98/56)513
    11801-(98/101)G/S574
    11803-(98/101)G/S575
    11832-(98/119)ESAF51
    11846-(98/125)25
    11851-(98/127)252
    11852-(98/127)252
    11857-(98/130)612
    11858-(98/130)G/S603
    11864-(99/1)ESAF420
    11875-(99/1)551
    11876-(99/2)214
    11877-(99/2)206
    11878-(99/2)252
    11896-(99/12)729
    11924-(99/31)397
    11943-(99/49)375
    11944-(99/49)375
    11945-(99/49)376
    11946-(99/49)ESAF54
    11947-(99/49)382
    11948-(99/49)G/SAF/TR331
    11949-(99/49)SRF/CCL288
    11971-(99/58)568
    11972-(99/58)568
    11973-(99/58)569
    11974-(99/58)51, 102

    LIST OF BOARD OF GOVERNORS’ RESOLUTIONS

    NumberPage
    IM-6647
    6-8648
    24-12734
    29-1580
    29-7650
    29-8650
    29-9654
    29-10660
    31-2669
    34-2678
    34-3744
    38-1687
    43-1693
    44-1696
    44-5699
    45-1701
    45-2710
    48-2650
    48-3717
    48-4654
    50-1720
    53-2728

    Interpretations Under Article XXIX (a)

    Interpretations of Articles of Agreement (71-2)99
    Unenforceability of Exchange Contracts: Fund’s Interpretation of Article VIII, Section 2(b) (446-4)491
    Interpretation of Article IX, Section 7 (534-3)543
    Interpretation of Article XII, Section 3(b)(i) and 3(f) (2-7)564
    Interpretation of Article XXVI, Section 2* (343-(54-47))607

    Corresponds to Article XV, Section 2 before the Second Amendment.

      You are not logged in and do not have access to this content. Please login or, to subscribe to IMF eLibrary, please click here

      Other Resources Citing This Publication