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

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1998
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    INDEX

    (*indicates Decision and Resolution as amended)

    Decision No.Page
    A Accounting by members for transactions with the Fund170-33
    Accounts:
    Administrative accounts, balances held not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency7060-(82/123)557
    Borrowed Resources Suspense Accounts6844-(81/715)448
    6845-(81/75)449
    Framework Administered Account for technical assistance activities10942-(95/33)86
    General Account; see General Resources Account, below
    General Resources Account:
    Adjustment of currency holdings of members5590-(77/163)348
    Exchange rate for Fund computations5590-(77/163)348
    Level of Fund SDR holdings, maintenance6275-(79/158)G/S275
    7626-(84/23) S281
    7941-(85/50) S281
    8265-(86/70) S281
    8574-(87/64) S282
    10278-(93/19)S282
    Purchase of SDRs for payment of charge5702-(78/39)*
    G/S297
    Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185)
    G/TR*577
    Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)560
    Sales of SDRs for payment of quota increases by members under Seventh General Review of Quotas6663-(80/160) S287
    Special Contingent Account, see Special Contingent Account
    Special Disbursement Account, transfer of resources to ESAF Trust and retransfer to Special Disbursement Account8760-(87/176)*378
    Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR*577
    6704-(80/185) TR576
    Investment7990-(85/81)350
    8029-(85/105)351
    Structural adjustment facility; see Structural adjustment facility
    Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S552
    Subsidy Accounts:
    Supplementary financing facility:
    Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS587
    Instrument6683-(80/185) G/TR*577
    Investment of currencies6854-(81/78)* SBS584
    Means of payments8185-(86/9)SBS/S585
    Subsidy payments, July 1, 1983- June 30, 19847754-(84/108) SBS586
    Subsidy payments, July 1, 1984- June 30, 19858037-(85/110)SBS586
    Subsidy payments, July 1, 1985- June 30, 19868492-(87/1) SBS587
    Subsidy payments, July 1, 1986- June 30, 19878674-(87/117) SBS588
    Subsidy payments, July 1, 1987- June 30, 19888941-(88/122) SBS589
    Subsidy payments, July 1, 1988- June 30, 19899222-(89/97) SBS590
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS585
    Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR576
    Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
    Adjustment process, international, review5392-(77/63)*12
    Administered accounts; seeArticle V, Section 2(b), administration of deposits provided by members
    Administrative accounts; see Accounts African Development Bank and African Development Fund, prescription as holders of SDRs8318-(86/104) S530
    Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S529
    Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S530
    Archives of the Fund, opening11192-(96/2)495
    Arrears to the Fund, see Overdue Obligations to Fund
    Articles of Agreement *
    Amendment, SecondB/G Res. 29-8596
    B/G Res. 29-10610
    Article 1, purposes of the Fund287-391
    433-(55/42)455
    1034-(60/27)460
    4377-(74/114)*139
    5069-(76/72)561
    Article II, Section 2, membership6266-(79/156)4
    Article III, Section 2, adjustment of quotas408-23
    Article III, Section 2(a), general review of quotasB/G Res. 31-2615
    B/G Res. 34-2618
    B/G Res. 38-1629
    B/G Res. 43-1638
    B/G Res. 44-1640
    B/G Res. 44-5643
    B/G Res. 45-1646
    B/G Res. 45-2648
    B/G Res. 48-3661
    B/G Res. 53-2666
    Article IV:
    Consultations5392-(77/63)*10
    6026-(79/13)*15
    6056-(79/38)125
    6790-(81/43)475
    7427-(83/83)20
    10168-(92/127)18
    Consultations, bicyclic procedure Termination, see Termination of Bicyclic procedures below
    Exchange arrangements5392-(77/63)10
    5712-(78/41)8
    Press information notices, Release11493-(97/45)25
    Termination of Bicyclic Consultation procedure10362-(93/67)19
    Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)*10
    6026-(79/13)*15
    Article V, Section 11289-(62/1)*393
    Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund1289-(62/1)*390
    Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-391
    Article V, Section 3(b)(ii), “represents” that a member has a need to make purchases284-492
    Chairman’s

    Summing-up

    EBM/87/176
    54
    Article V, Section 3(b)(iii), waiver4377-(74/114)*141
    5508-(77/127)270
    6783-(81/40)*255
    8955-(88/126)*192
    Article V, Section 3(d):
    Sale of members’ currencies for repurchases5704-(78/39)289
    Selection of currencies in purchases6273-(79/158) G/S272
    6274-(79/158)273
    6352-(79/183)276
    6774-(81/35)282
    Article V, Section 5, transfers of SDRs6275-(79/158) G/S275
    Article V, Section 5, limitation on use of Fund’s resources284-3285
    286-1285
    7842-(84/165)136
    Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S287
    Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)273
    6774-(81/35)282
    Article V, Section 7, repurchases1289-(62/1)*390
    5703-(78/39)*292
    5704-(78/39)288
    5809-(78/88)*294
    6172-(79/101)290
    Article VI, capital transfers1238-(61/43)91
    Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)266
    5509-(77/127)438
    6783-(81/40)*252
    Article VII, Section 1, borrowing by Fund1289-(62/1)*386
    8897-(88/93)412
    6783-(81/40)*252
    Article VIII:
    Bilateralism433-(55/42)455
    Consultations5712-(78/41)9
    Retention quotas201-(53/29)457
    Article VIII and Article XIV1034-(60/27)460
    Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)460
    Article VIII, Section 2(a): Payments restrictions144-(52/51)454
    3153-(70/95)462
    Article VIII, Section 2(b), unenforceability of exchange contracts446-4452
    Article VIII, Section 3, multiple currency practices237-2469-70
    649-(57/33)472
    8790-(81/43)474
    Article VIII, Section 7B/G Res. 34-3683
    Article IX, Section 7, privilege for communications534-3496
    Article XII, Section 3(b)(i) and 3(f)2-1515
    Article XII, Section 3(c):
    Additional appointed Executive Directors574-2*515
    Determination of member’s entitlement to appoint Executive Director7066-(82/23)558
    The preceding two years,” meaning597-4516
    Article XIV:
    Articles VIII and XIV1034-(60/27)460
    Bilateralism433-(55/42)455
    Consultations5392-(77/63)*13
    Retention quotas201-(53/29)457
    Article XIV, Section 11034-(60/27)461
    Article XIV, Section 2: Multiple currency practices237-2469-70
    Payments restrictions144-(52/51)454
    3153-(70/95)462
    Transitional arrangements446-4453
    Article XIV, Section 3117-1520
    Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S526
    6484-(80/77) S529
    6486-(80/77) S529
    7629-(84125)403
    8642-(87/101)S/TR530
    8759-(87/176)ESAF*42
    8937-(88/68)ESAF532
    Article XVIII, allocation of special drawing rightsB/G Res. 24-12679
    B/G Res. 34-3681
    Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180)S534
    6368-(79/191)S534
    Article XIX, Section 2(c):
    Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S526
    Operations and transactions in special drawing rights between participants6000-(79/1) S*535
    6001-(79/1)S*536
    6053-(79/34) S*538
    6054-(79/34) S*540
    6336-(79/178)S542
    6337-(79/178) S544
    6437-(80/37) S545
    Article XIX Section 5, designation of participants to provide currency6209-(79/124) S546
    Article XIX, Section 5(a)(i), designation plans6273-(79/158) GS272
    Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S550
    Article XIX, Section 7(a), calculation of exchange rates1289-(62/1)*393
    6001-(79/1) S537
    6053-(79/34) S*539
    6054-(79/34) S*541
    6336-(79/178) S542
    7041-(82/8) G/S551
    Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S526
    Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S553
    Article XXIIB/G Res. 34-3683
    Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S528
    Article XXVI, Section 2(a) ineligibility to use Fund resources343-(54/47)554
    Article XXVI, Section 31289-(62/1)*394
    Article XXVII1289-(62/1)*394
    270-(53/95)*124
    Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements270-(53/95)*124
    Article XXIX(a), list of interpretations under,xliv
    Article XXX(c):
    Exclusion of purchases and holdings under buffer stock facility5591-(77/163)555
    Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*555
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)*557
    Exclusion of purchases and holdings under extended facility6830-(81/65)557
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)556
    Exclusion of purchases under oil facility5371-(77/51)556
    Exclusion relating to purchases in credit tranches6830-(81/65)557
    Exclusion of purchases and holdings under Systemic Transformation Facility10348-(93/61) STF558
    Article XXX(f), freely usable currencies5719-(78/46)559
    Article XXXI, Section 1408-23
    Schedule B, repurchases5703-(78/39)*294
    5704-(78/39)289
    6008-(79/3)446
    Schedule B, paragraph 7(6), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)560
    Schedule F, rules for designation6209-(79/124) S547
    Schedule G, rules for reconstitution, abrogation6832-(81/65)S550
    Schedule J1289-(62/1)*394
    Schedule K1289-(62/1)*394
    Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S530
    Assessments, payment in SDR Department; see Accounts, Special Drawing Rights Department, payment of net charges and assessments
    Attribution of reductions in Fund’s holdings of currency6831-(81/65)*295
    6774-(81-35)284
    Review7704-(84/78)296
    Audit:
    Enhanced structural adjustment facility trust (ESAF Trust)8759-(87/176) ESAF*45
    Supplementary financing facility Subsidy Account6683-(80/185)G/TR583
    Trust Fund5069-(76/72)567
    Augmentation; see Purchase transactions, Augmentation
    B Balance of payments position:
    Assessment for assistance from Trust Fund5069-(76/72)563
    Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S272
    Discrimination for balance of payments reasons955-(89/45)459
    Bank/Fund collaboration:
    Invitation to send a staff member as an observerEBM/70/30503
    Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S530
    Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
    Bicyclic consultation procedures; see Consultation with members
    Bilateral payments arrangements, see Official clearing and payments arrangement
    Bilateralism433-(55/42)455
    Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below Borrowing by the Fund
    Borrowed Resources Suspense Accounts6844-(81/75)448
    6845-(81/75)449
    Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)252
    General Arrangements to Borrow:1289-(62/1)*386
    Associated borrowing arrangements7403-(83/73)405
    “Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing9862-(91/156)*450
    Renewal11609-(97/112)398
    Saudi Arabia, association agreement7403-(83/73)405
    Renewal8897-(88/93)412
    10235-(92/149)414
    11626-(97/122)415
    Transferability of claims7629-(84/25)403
    Transferability of claims; see Transferability of claims
    Use of credit arrangements for non participants1289-(62/1)*396
    Guidelines9862-(91/156)450
    New Arrangements to Borrow11428-(97/6)417
    Nonparticipants11428-(97/6)421
    Transferability of claims11429-(97/6)428
    Supplementary financing facility:
    Authorization to make calls6006-(79/3)445
    Interest payment procedure6163-(79/96)446-47
    Meaning of “net creditor position in the Fund”6008-(79/3)446
    Replenishment of holdings of currencies5509-(77/127)438
    Subsidy Account6683-(80/165) G/TR577
    Buffer stock financing facility2772-(69/47)*232
    Access limit and review2772-(69/47)*232
    Elimination of floating10186-(92/132)233
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)555
    International Natural Rubber Agreement, 19797246-(82/147)240
    International Natural Rubber Agreement, 19879403-(90/53)241
    International Sugar Agreement, 19775597-(77/171)237
    International Tin Agreements:
    Fourth3179-(70/102)234
    Fifth5127-(76/91)235
    Sixth7247-(82/147)236
    Repurchases5703-(78/39)*292
    Sixth International Tin Agreement7247-(82/147)236
    1977 International Sugar Agreement5597-(77/171)239
    International Natural Rubber Agreement, 19797246-(82/147)240
    Burden sharing8348-(86/122)*303
    Managing Director’s Remarks307
    Extended burden sharing; see Extended burden sharing
    Implementation for FY 19898861-(88/67)311
    for FY 19909135-(89/46)315
    for FY 199410340-(93/54)*318
    for FY 199510706-(94/52)326
    10660-(94/38)322
    for FY 199610958-(95/40)329
    for FY 199711249-(96/39)333
    for FY 199811480-(97/42)336
    for FY 199911712-(98/49)341
    Net income target:
    for FY 19898861-(88/67)311
    for FY 19941039-(93/86)321
    for FY 199510705-(94/42)325
    for FY 199610962-(65/41)332
    for FY 19971125-(96/39)336
    for FY 199811482-(97/42)339
    Principles of “burden sharing”8861-(88/67)311
    Rate of charge:
    for FY 19898861-(88/67)311
    for FY 199811482-(97/42)339
    Retroactive reduction of rate of charge10705-(94/52)325
    Special Contingent Account, amounts placed
    for FY 19878619-(87/90)309
    for FY 19888780-(88/12)310
    for FY 19898861-(88/67)312
    for FY 19909135-(89/46)316
    9471-(90/98)344
    for FY 199410340-(93/54)319
    for FY 199510660-(94/38)323
    10706-(94/52)327
    for FY 199610958-(95/40)330
    for FY 199711249-(96/39)333
    for FY 199911712-(98/49)341
    By-Laws, Section 20 audits; see Audits By-Laws, Section 22, Compulsory Withdrawal: see, Section 22
    C Capital transfers:
    Controls by members541-(56/39)385
    B/G Res. 29-10608
    Restrictions237-2467
    Use of Fund’s resources for1238-(61/143)91
    B/G Res. IM-6593
    Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S530
    “Changing circumstances,” adaptation of multiple currency practices237-2471
    Charges:
    Accounting for charges from members with overdue obligations8433-(86/175)298
    Accrued charges8433-(86/175)298
    Balances held in Fund’s administrative accounts not in excess of 0,1 percent of quota not to be considered part of Fund’s holdings of member’s currency for calculation7060-(82/23)557
    Extended Fund facility4377-(74/114)*141
    10464-(93/130)155
    Future changes4239-(74/67)297
    Interest on Trust Fund loans; see Interest Media of payment5702-(78/39)* G/S297
    Oil facility Subsidy Account; see Accounts, Subsidy Accounts
    Overdue obligations to Fund, special charges8165-(85/189) G/TR299
    Overdue obligations to Fund, accrued income8433-(86/175)298
    Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S297
    Payment of net charges and assessments in Special Drawing Rights Department, procedure when participants fail to hold adequate SDRs or to acquire them from other participants or Fund7116-(82/68) S552
    Rate, as of Feb. 1, 19888780-(88/12)310
    as of May 1, 199410705-(94/52)325
    as of November 1, 199410850-(94/107)326
    as of May 1, 199510962-(95/41)332
    as of May 1, 199711482-(97/42)*339
    as of May 1, 199911711-(98/49)340
    Rate, determination of burden sharing8348-(86/122)*303
    Rate on use of ordinary resources for FY 199410391-(93/86)*321
    Setoff in connection with retroactive reduction8271-(86/74)302
    Special charges on overdue obligations to Fund8165-(85/189) G/TR*299
    Elimination after six months or more8165-(85/189) G/TR*300
    Trust Fund loans10352-(93/49) G/TR300
    Setoff against charges due for second quarter of FY 19878442-(86/178)302
    Stand-by arrangements10464-(93/130)*150
    Supplementary financing facility5508-(77/127)270
    Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
    Review of system11715-(98/49) G/SAF/TR301
    Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res595
    Final report and terminationB/G Res. 29-7596
    Support of extended Fund facility4377-(74/114)*139
    Voluntary Declaration on Trade and Other Current Account Measures4211-(74/75)476
    Commodities (see also Buffer stock financing facility; Compensatory financing):
    Reclassification where subject to multiple currency practices237-2472
    Communications, privilege for534-3496
    Compensatory and contingency financing facility, establishment8955-(88/126)*192
    Compensatory financing of export fluctuations8955-(88/126)*195
    External contingency financing8955-(88/126)*200
    Chairman’s Summing up EBM/88/105221
    Compensatory financing of fluctuation in the cost of cereal imports8955-(88/126)*204
    Compensatory financing of fluctuations in the cost of oil imports8955-(88/126)*210
    Transitional and other provisions8955-(88/126)218
    Compulsory withdrawal, see, Overdue obligations to Fund, Purchases from Fund Conditionality; see, Use of Fund’s resources, Conditionally
    “Consistent with the provision of this Agreement,” meaning in Article V, Section 3287-391
    Consultation with members:
    Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)461
    Bicyclic procedures and simplified interim procedures
    Termination10362-(93/67)19
    Bilateral arrangements433-(5S/42)455
    Changes in members’ exchange arrangements, notification to Fund5712-(78/41)8
    Commodity field, attention to policies2772-(69/47)*233
    Conduct by Managing Director in interval between Article IV consultations5392-(77/63)14
    6026-(79/13)15
    Consultations under Article IV5392-(77/63)10
    6026-(79/13)15
    6056-(79/38)125
    6790-(81/43)475
    Cycles-Review10168-(92/127)18
    Press information notices, Release11493-(97/45)25
    Discussions on use of Fund’s resources102-(52/11)93
    During period of extended arrangement,10464-(93/)30)*154-55
    During period of stand-by arrangement10464-(93/130)*149-51
    Exchange measures needing approval under Article VIII1034-(60/27)461
    Members’ policies in present circumstances4134-(74/4)464
    Multiple currency practices237-2465-66
    Periodic discussions under Article VIII1034-(60/27)461
    Resumption of purchases under extended arrangements10464-(93/130)*154-55
    Resumption of purchases under stand-by arrangements270-(53/95)*124
    10464-(93/130)*149-50
    Retention quotas201-(53/29)457
    Special consultations5392-(77/63)14
    Whether measure is exchange restriction1034-(60/27)461
    Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8) G/S551
    Consultations with prescribed holders of special drawing rights6467-(80/71) S527
    Contingency mechanism; see Compensatory and contingency financing facility
    Convertibility:
    Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)460
    Approval of exchange restrictions1034-(60/27)460-61
    Bilateralism433-(55/42)455
    Consultation with Fund1034-(60/27)460
    Discrimination955-(59/45)459
    Multiple currency practices; see Multiple currency practices
    Retention quotas201-(53/29)457
    Credit tranches; see Tranche policies
    Creditworthiness, factor in determining use of Fund’s resources102-(52/11)93
    Currencies (see also Borrowing by the Fund; Convertibility; Holdings of the Fund; Investment):
    Arrangements for use in operations and transactions of FundB/G Res.31-2616-17
    Composition of special drawing right6631-(80/145) G/S521
    Freely usable currencies5719-(78/46)559
    Guidelines for use in operational budgets6772-(81/35) G/S278
    10279-(93/19)279
    Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S272
    6274-(79/158)273
    6774-(81/35)282
    10279-(93/19)279
    10904-(95/13)280
    Operational budgets6273-(79/158) G/S272
    6772-(81/35) G/S278
    Payment of subscriptions6266-(79/156)4
    B/G Res.31-2616
    B/G Res. 34-2625
    B/G Res. 38-1634
    Rates for computations and maintenance of value5590-(77/163)348
    Replenishment in connection with supplementary financing facility5509-(77/127)438
    Sale by agreement with member with outstanding purchases6274-(79/158)274
    6352-(79/183)276
    Selection for payment of charges5702-(78/39)* G/S298
    Specified by the Fund, use in repurchases5703-(78/39)*293
    5809-(78/88)294
    Subscribed to the Fund, ownership170-33
    Currency stabilization fundsEBM/95/86170
    D Debt management policies; see External debt management policies
    Debt and debt service reduction operations, early repurchase expectations9331-(89/167)*184
    Debt and debt service reduction, Modalities of Fund supportActing Chairman’s Summing-up EBM/94/1190
    Avoidance of linking prepayments to commercial banks with early repurchasesChairman’s Summing-up EBM/91/48189-90
    Debt strategy, Fund involvement inChairman’s Summing up EBM/89/61179
    Declaration of noncooperation or censureEBM/89/100105
    EBM/89/101110
    Deferred income; see Overdue obligations to Fund, Deferred income
    Designation; see Special drawing rights
    Development Committee; see Joint Ministerial Committee
    Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions)955-(59/45)459
    Disputes between members, Role of the Fund in settlementEMB/84/9982
    Drawings; see Purchase transactions; Use of Fund’s resources
    E East African Development Bank, prescription as holder of special drawing rights7582-(83/174) S530
    Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S530
    Emergency assistance:
    Natural disastersChairman’s

    Remarks

    EBM/82/16
    160
    Post-conflict countriesEBM/95/82163
    Emergency financing mechanismEBM/95/85166
    Enemy-occupied, former, members, introduction of multiple currency practices237-2471
    Enhanced structural adjustment facility:
    Access limits8845-(88/61)ESAF*55
    8759-(87/176) ESAF*32
    Arrears to the Fund, consequencesActing

    Chairman’s

    Remarks

    EBM/88/12
    99
    Borrowing for loan accounts, consultation with creditors9056-(89/2) ESAF57
    Establishment8757-(87/176) SAF/ESAF*374
    Extension of commitment and disbursement periods for agreement9116-(89/40) ESAF378
    Gold pledge for use of ESAF Trust resources under Right Approach10286-(93/23) ESAF*381
    Legal documentationChairman’s Remarks

    EBM/87/176
    54
    Operational arrangementsChairman’s

    Summing up

    EBM/87/171
    48
    Review8757-(87/176) SAF/ESAF375
    9114-(89/40) SAF/ESAF375
    9487-(90/106) SAF/ESAF*376
    9808-(91/114) SAF/ESAF376
    10089-(92/94) SAF/ESAF376
    Lapse of time procedure11515-(97/59)158
    Enhanced Structural Adjustment Facility Trust: Instrument to establish8759-(87/176) ESAF*29
    Chairman’s Summing up EBM/87/17148
    Access limits8845-(88/61) ESAF*55
    Commitment period11395-(96/110)31-32
    Eligible members8240-(86/56)*359
    Interest rate on trust loans8846-(88/61) ESAF56
    Lending, considered as a member’s official reserves by FundChairman’s Summing up EBM/87/17654
    Reserve Account, Review11409-(97/1) ESAF383
    11848-(98/1) ESAF383
    Transfer to ESAF/HIPC Trust11713-(98/49) ESAF48
    Special ESAF operations for HIPC and interim ESAF subsidy operations, see, Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations
    Transfer and retransfer of resources to and from Special Disbursement Account8760-(87/176)*378
    Transfer to ESAF/HIPC Trust11683-(98/27)47
    11713-(98/49) ESAF48
    Trust grants or trust loans under special ESAF operations for HIPC and interim ESAF subsidy operations11434-(97/10)42
    Enhanced surveillance:
    Midterm review, procedure10365-(93/67)80
    Chairman’s Summing Up EBM/93/1580
    Procedures for transmittal of staff reports8222-(86/45)76
    Chairman’s Summing up EBM/85/13276
    Enlarged access, policy on6783-(31/40)*252
    European Currency Unit, representative rate in terms of SDR7041-(82/8) G/S551
    European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8) G/S551
    “Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1520
    237-2470
    Exchange arrangements, notification5392-(77/63)*10
    5712-(78/41)8
    Exchange contracts, unenforceability446-4452
    Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4453
    Exchange controls on capital transfers541-(56/39)385
    Exchange of documents with other international agencies, see, Fund documents
    Exchange rates:
    Borrowing arrangements by Fund1289-(62/1)*393
    Exchange rate policies of members, surveillance5392-(77/63)*10
    Flexible exchange arrangements5712-(78/41)9
    Floating, guidelinesB/G Res. 29-10608
    Fluctuating:
    Multiple currency practices (fixed and fluctuating rates)237-2468
    Scope of transactions to be agreed with Fund237-2468
    Free markets237-2468
    Multiple currency practices arising from official action6790-(81/43)474
    Notification to Fund5392-(77/63)*10
    5712-(78/41)8
    Pegs, notification to Fund of changes5712-(78/41)8
    Representative rate for European Currency Unit in terms of SDR704-(82/8) G/S551
    Unification in multiple rate systems, a basic objective of Fund649-(57/33)472
    Exchange restrictions (see also Payments restrictions):
    Approval1034-(60/27)461
    Avoidance of escalation4134-(74/4)464
    4254-(74175)476
    Bilateralism433-(55/42)455
    Capital transactions; see Capital transfers Consultations with Fund1034-(60/27)461
    Discrimination955-(59/45)459
    Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)460
    Introduction1034-(60/27)461
    Maintenance1034-(60/27)461
    Multiple currency practices237-2465
    649-(57/33)472
    6790-(81/43)474
    Payments arrears3153-(70/95)462
    Retention quotas201-(53/29)457
    Security reasons; see Payments restrictions Transitional arrangements under
    Article XIV, obligations under
    Article VIII, Sections 2, 3, and 41034-(80/27)461
    Withdrawal, representation by Fund117-1520
    Exchange systems, avoidance of use for non-balance of payments reasons1034-(60/27)461
    Exchange taxes237-2468, 472
    Notification to Fund5712-(78/41)9
    Exchange transactions; see Purchase transactions
    Exclusion of balances held in administrative accounts; see Accounts, Administrative accounts
    Exclusion of purchases and holdings under Fund policies; seeArticle XXX(c)
    Executive Board:
    Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)*10
    6026-(79/13)*15
    9499-(90/11)*16
    10273-(93/15)*17
    Communication of changes in members’ exchange arrangements5712-(78/41)8
    Information on operation of buffer stocks3179-(70/102)234
    5127-(76/91)235
    5597-(77/171)239
    7246-(82/147)241
    7247-(82/147)237
    Report to Board of Governors on quota increases under General Reviews of Quotas:
    SeventhB/G Res. 34-2618
    EighthB/G Res. 38-1629
    NinthB/G Res. 43-1638
    B/G Res. 44-5643
    B/G Res. 45-1646
    B/G Res. 45-2648
    TenthB/G Res. 48-3661
    B/G Res. 50-1663
    Review and change of rules for designation6209-(79/124) S546
    Review of broad developments in exchange rates5392-(77/63)*14
    Review of decision on extended Fund facility4377-(74/114)*142
    5220-(76/144)142
    7558-(83/156)143
    7857-(84/175)143
    8192-(86/13)144
    8583-(87/72)144
    9189-(89/77)145
    9790-(91/106)145
    10723-(94/58)146
    Lapse of time procedure11515-(97/59)158
    Review of functioning of international adjustment process5392-(77/63)*12
    Review of guidelines for borrowing by Fund9862-(91/91)450
    Review of level of Fund’s SDR holdings6275-(79/158) G/S275
    7626-(84/23) S281
    794-(85/50) S281
    8265-(86/70) S281
    8574-(87/64) S282
    10278-(93/19) S282
    Review of prescriptions of holders of special drawing rights6467-(80/71) S527
    Review of quota calculation methodB/G Res. 38-1629
    Executive Directors:
    Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4516
    Appointment by members having five largest quotas2-1515
    Determination of members entitled to appoint under Article XII, Section 3(c)574-2*515
    Balances held in Fund’s administrative accounts not in excess of 0,1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)557
    Participation in meetings of Development CommitteeB/G Res. 29-9603
    Participation in meetings of Interim CommitteeB/G Res. 29-8597
    Voting power, effect of quota changes180-5516
    Export shortfalls, financing; see Compensatory and contingency financing facility
    Extended arrangements4377-(74/114)*138
    Access limits, see Guidelines on access limits below
    Amounts to be made available1018-(92/132)256
    Augmentation of rights to make purchases, elimination5706-(78/39)138
    Charge4377-(74/114)*141
    10464-(93/130)*155
    Elimination of use under Enlarged Access Policy10181-(92/132)256
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)556-57
    Foreign borrowing, performance criteria6230-(79/140)*131
    Form, standard10464-(93/130)*151
    Guidelines on access limits10181-(92/132)256
    Guidelines, operational; see Performance criteria and phasing, below Ineligibility10464-(93/130)*154-55
    Publicity upon declaration7931-(85/41)518
    7999-(85/90)518
    Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)135
    EBM/85/26137
    Noncomplying purchases; see Misreporting and noncomplying purchases
    Operational guidelines; see Performance criteria and phasing, below
    Overdue obligations to Fund, purchases from Fund7908-(85/26)97
    EBM/84/5498
    Performance criteria and phasing, operational guidelines7925-(85/38)*128
    Provision for enlarged access to Fund’s resources6783-(81/40)*252
    Provision for supplementary financing5508-(77/127)266
    Repurchases; see Repurchases Review of decision on extended Fund facility5220-(76/144)142
    7558-(83/156)143
    7857-(84/175)143
    8192-(86/13)144
    8583-(87/72)144
    9189-(89/77)145
    9790-(91/106)145
    10723-(94/58)146
    Lapse of time procedure11515-(97/59)158
    Suspension of right to engage in purchase transactions10464-(93/130)*154
    Extended burden sharing, implementation and modalities of new special Contingent Account9471-(90/98)*344
    Review11714-(98/49)347
    Extended Fund facility; see Extended arrangements External debt management policies6230-(79/140)131
    External contingency financing, see Compensatory and contingency financing facility
    F “First credit tranche,” Fund attitude to request for transactions125
    Floating rates; see Exchange rates
    Fluctuating exchange rates; see Exchange rates
    Freely usable currencies5719-(78/46)559
    Free markets; see Exchange rates
    Fund documents:
    Exchange with other international agenciesA-9786-(93/20)*511
    Fund resources, use; see Use of Fund’s resources
    Fund’s holdings; see Holdings of the Fund
    G General Agreement on Tariffs and Trade1034-(60/27)462
    4254-(74/75)477-78
    B/G Res. 29-10608
    Consultation and cooperation363-1499
    General Arrangements to Borrow; see Borrowing by the Fund
    General Resources Accounts; see Accounts
    Gold:
    Modalities of gold pledge for use of ESAF Trust resources under Rights Approach10286-(93/23)*381
    Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund5703-(78/39)*293
    5809-(78/88)294
    Sale, amounts available to Trust Fund5069-(76/72)560
    Sale for benefit of developing members, distribution of profits through Trust Fund …5069-(76/72)561
    5709-(78/41) TR571
    5832-(78/95) TR572
    6540-(80/98) TR575
    Sale, transfer of profits to Trust Fund5069-(76/72)561
    Subscribed to Fund, ownership170-33
    Gross reserve position; see Reverse position, gross
    H HIPC initiative, see, Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations
    Holdings of the Fund:
    Adjustment by Fund5590-(77/163)348
    Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)284
    6831-(81/65)*295
    Attribution of reductions to repurchase obligations6831-(81/65)*295
    Balances held in administrative accounts not in excess of 0.1 percent of member’s quota, exclusion from Fund’s holdings of member’s currency for certain purposes7060-(82/23)557
    Computations and adjustment, rates5590-(77/163)348
    Exclusion of holdings resulting from credit tranche purchases6830-(81/65)556-57
    Exclusion under buffer stock facility5591-(77/163)555
    Exclusion under compensatory and contingency financing facility8955-(88/126)*555
    Exclusion under enlarged access policy6783-(81/40)557
    Exclusion under extended Fund facility6830-(81/65)556-57
    Exclusion under oil facility5371-(77/51)556
    Exclusion under supplementary financing facility5508-(77/127)556
    Exclusion under systemic transformation facility10348-(93/61) STF558
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Repurchases; see Repurchases
    I Import restrictions imposed for balance of payments reasons, GATT members1034-(60/27)462
    Income, accrued, see Overdue obligations to Fund, purchases from Fund, Accrued charges and income
    Income, Net, see Net Income
    Income position, see Burden sharing
    Income target, see Burden sharing, net income target
    Ineligibility; see Extended arrangements; Standby arrangements; Use of Fund’s resources Interest:
    Charge on loans from Trust Fund5069-(76/72)565
    Payment on Fund indebtedness under General Arrangements to Borrow1289-(62/1)*390
    Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)* G/TR579
    Payment under supplementary financing facility5509-(77/127) Annex411
    6163-(79/96)446-47
    Payments by members under Trust Fund loan agreements6358-(79/188)574
    5069-(76/72)565
    Interim Committee of the Board of Governors on the International Monetary System:
    EstablishmentB/G Res. 29-8*596
    Review of functioning of international adjustment process5392-(77/63)*12
    Rules of procedure611
    International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S530
    International Development Association, prescription as holder of special drawing rights6718-(81/1) S530
    International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S530
    International monetary system, reformB/G Comp. Res595
    International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
    Interpretation under Articles of Agreementxliv
    Investment:
    Currencies held in supplementary financing facility Subsidy Account6683-(80/185) G/TR580
    6854-(81/78) SBS*584
    Currency balances held in Trust Fund5069-(76/72)567
    5972-(73/189)570
    5973-(78/189) TR571
    Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S530
    J Japan, Borrowing agreement with Fund; see Borrowing by the Fund
    Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries:
    EstablishmentB/G Res. 29-9*600
    Rules of procedure612
    Secretariat function, changes in organization of work and structure613
    Joint Vienna Institute10575-(94/4)734
    Authorization to extend the Agreement until August 19, 200411675-(98/21)743
    L Lapse of time procedure, Review under Fund arrangements11515-(97/59)158
    M Maintenance of value, adjustment: general policies and procedures relating to arrears to FundActing Chairman’s Summing up EBM/88/19100
    Managing Director:
    Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)448
    6845-(81/75)449
    Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)445
    Authorized signatories9605-(90/170)517
    Consultation by eligible member to request assistance from Trust Fund5069-(76/72)563
    Consultation by member before making request under supplementary financing facility5508-(77/127)266
    Consultation by member contemplating request under extended Fund facility4377-(74/114)*140
    Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)252
    Consultation with members when notice of exchange policy change not received5712-(78/41)9
    Consultations and proposals to Executive Board concerning sales of currencies at request of members with outstanding purchases6352-(79/183)276
    Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)446
    Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements6854-(81/78)* SBS584
    Discussions with members judged sufficiently strong whose outstanding purchases are not subject to guidelines on early repurchase with view to reducing their indebtedness to the Fund6774-(81/35)284
    Discussions with members on exchange policies5392-(77/63)*14
    6026-(79/13)*15
    Participation in meetings of Development CommitteeB/G Res. 29-9603
    Participation in meetings of Interim CommitteeB/G Res. 29-8598
    Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189) TR571
    Proposals for allocation of SDRs:
    First basic periodB/G Res. 24-12679
    Third basic periodB/G Res. 34-3681
    Fourth basic period691
    Proposals for calls under General Arrangements to Borrow1289-(62/1)*389
    Proposals for Trust Fund investments5973-(78/189) TR571
    Recommendations to Executive Board regarding approval of use of Fund resources and stand- by arrangements6056-(79/38)126
    Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period691
    Signatories, authorized, see, Authorized signatories
    Military expenditure and role of the FundConcluding Remarks by Acting Chairman EBM/91/138479
    Misreporting and noncomplying purchases, guidelines on corrective action; see Extended or Stand-by arrangements
    Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
    Monetary stabilization operations, use of Fund’s resources71-291
    B/G Res. IM-6593
    Multiple currency practices: Policy237-2465
    649-(57/33)472
    6790-(81/43)474
    Prior Fund approval5712-(78/41)9
    Spreads6790-(81/43)474
    N “Net creditor position in the Fund”6008-(79/3)446
    Net income, Disposition
    for FY 199410704-(94/52)325
    for FY 199510957-(95/40)329
    New Arrangements to Borrow, see, Borrowing by the Fund
    Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
    Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S530
    O Official clearing and payments arrangements, Temporary exemption from three-month rule10749-(94/67)456
    Oil facility:
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)556
    Operational budgets:
    Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158) G/S272
    Sales of SDRs and use of currencies6772-(81/35) G/S278
    Overdue obligations to Fund, purchases from Fund (see also Extended or Stand-by arrangements)7908-(85/26)97
    10464-(93/130)*150, 154
    Access to enhanced structural adjustment facility (ESAF)Chairman’s Closing Remarks EBM/88/1299
    Accrued charges and income8433-(86/175)298
    Accounting for overdue charges8433-(86/175)298
    Burden sharing; see Burden Sharing Complaint, period of considerationChairman’s Summing up EBM/85/17098
    EBM/90/38111
    Compulsory withdrawal343-(54/47)554
    EBM/89/100106
    EBM/89/101110
    EBM/90/38112, 116
    EBM/89/100104
    EBM/89/101104
    Declaration of noncooperation or censureEBM/89/100105
    EBM/89/101110
    Deferred income8433-(86/175)298
    Letter to GovernorsEBM/89/100107, 108
    EBM/89/101110
    Maintenance of value adjustments, policies and proceduresChairman’s Summing up EBM/88/19100
    Procedures for dealing with membersEBM/89/101102
    Publicity upon declaration of ineligibility7999-(85/90)518
    Reporting by Fund7931-(85/41)518
    Rights accumulation programs, operational modalitiesChairman’s Summing up EBM/90/97117
    EBM/91/42120
    EBM/92/58121
    EBM/95/29122
    Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)302
    Special charges on8165-(85/189)* G/TR299
    Setoff against charges due for second quarter of FY 19878442-(86/178)302-03
    Strengthened cooperative strategy, time table Chairman’s of proceduresStatement EBM/90/38111
    EBM/92/58121
    Overdue payments to Fund; see Overdue obligations to Fund
    P Payments arrears3153-(70/95)94
    EBM/80/15495
    EBM/89/6196
    Payments policies of members4134-(74/4)464
    Payments restrictions; (see also Exchange restrictions; Payments arrears):
    For security reasons, Fund jurisdiction144-(52/51)454
    Withdrawal or general abandonment117-1520
    “Position in the Fund,” definition6274-(79/158)274
    6772-(81/35) G/S279
    Press information notices, Release following completion of Article IV consultation, see, Article IV consultation
    Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)454
    Publication of reports, overdue obligations7931-(85/41)518
    Publicity on declaration of ineligibility7999-(85/90)518
    Publicity upon Suspension of Voting Rights and termination of suspension10305-(93/32)519
    Purchase transactions (see also Use of Fund’s resources):
    Augmentation of rights to purchase under stand-by and extended arrangements, elimination5706-(78/39)138
    Purchase under buffer stock financing facility2772-(69/47)*232
    3179-(70/102)234
    5127-(76/91)235
    5591-(77/163)555
    5597-(77/171)237
    7246-(82/147)240
    7247-(82/147)236
    Purchases under compensatory and contingency financing facility8955-(88/126)*192
    Purchases under credit tranche; see Tranche policies
    Purchases under extended arrangements4377-(74/114)*139
    6830-(81/65)137
    10464-(93/130)*151
    Purchases under stand-by arrangements270-(53/95)*123
    10464-(93/130)*147
    Purchases under supplementary financing facility5508-(77/127)265
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal10464-(93/130)*154-55
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*124
    10464-(93/130)*150
    Suspension, effect on General Arrangements to Borrow1289-(62/1)*394
    Suspension of transactions under extended arrangements10464-(93/130)*154-55
    Suspension of transactions under stand-by arrangements270-(53/95)*124
    10464-(93/130)*150
    Q Quotas:
    Adjustment, first interval of five years408-23
    Calculation, review of methodB/G Res. 38-1629
    Change, effect on voting power of elected Executive Director180-5516
    Reviews:
    First408-23
    Sixth General ReviewB/G Res. 31-2615
    Seventh General ReviewB/G Res. 34-2618
    Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S287
    Eighth General ReviewB/G Res. 38-1629
    Ninth General Review Report of Executive Board to Board of GovernorsB/G Res. 43-1638
    B/G Res. 44-5643
    B/G Res. 45-1646
    B/G Res. 45-2648
    Payment of increases in quotas11649-(98/1)657
    Period of consent, extension11649-(98/1)656
    Tenth General Review
    Report of Executive Board to Board of GovernorsB/G Res. 48-3661
    Eleventh General Review
    Report of Executive Board to Board of GovernorsB/G Res. 53-2666
    Special adjustment for members with very small quotasB/G Res. 44-1640
    B/G Res. 38-1631
    R Rates for official communications of Fund534-3496
    Rates of exchange; see Exchange rates; Multiple currency practices
    Reconstitution; see Special drawing rights, Reconstitution
    Remuneration on net creditor positions, balances held in Fund’s administrative accounts not in excess of 0. 1 percent of quota, exclusion from Fund’s holdings of member’s currency for calculation7066-(82/23)557-58
    Remuneration, rate, burden sharing8348-(86/122)*304
    Repayment by Fund of borrowed currency1289-(62/1)*391
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Reporting by the Fund of overdue obligations7931-(85/41)518
    Repurchases:
    Attribution of reductions in Fund’s holdings of currencies6774-(81/35)284
    6831-(81/65)*295
    Currency resulting from purchase under credit tranches5703-(78/39)*292
    Currency resulting from purchase under extended arrangement10464-(93/130)*155
    Currency resulting from purchase under stand-by arrangement10464-(93/130)150
    Early, guidelines5704-(78/39)288
    6172-(79/101)290
    6273-(79/158) G/S272
    Early, expectation, debt and debt service reduction operations; see Debt and debt service reduction operations, early repurchase expectations
    Guidelines for selection of currencies6274-(79/158)273
    6774-(81/35)282
    Obligations to pay gold, payment with SDRs or currencies of other members5703-(78/39)*293
    5809-(78/88)294
    Of Fund’s holdings102-(52/11)92
    Procedures5703-(78/39)*292
    Under buffer stock financing facility5703-(78/39)*293
    Sixth International Tin Agreement7247-(82/147)236
    1977 International Sugar Agreement5597-(77/171)239
    International Natural Rubber Agreement, 19797246-(82/147)240
    Under compensatory and contingency financing facility5703-(78/39)*292
    8955-(88/126)*200,209,217
    Under decision on enlarged access6783-(81/40)254
    Under extended Fund facility4377-(74/114)*141
    Under supplementary financing facility5508-(77/127)269
    Reserve assets:
    Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
    Payment for subscriptions:
    Under Eighth General Review of QuotasB/G Res. 38-1634
    Under Ninth General Review of QuotasB/G Res. 45-2656-57
    Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S272
    Reserve tranche position:
    Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)284
    6831-(81/65)*295
    Review7704-(84/78)296
    Balances held in Fund’s administrative ac counts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)557
    Reserve tranche purchases (see also Use of Fund’s resources):
    Exclusion of purchases and holdings in credit tranches6830-(81/65)556
    Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)555
    Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*555
    Exclusion of purchases and holdings under extended facility6830-(81/65)556
    Exclusion of purchases and holdings under oil facility5371-(77/51)556
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)557
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)556
    Exclusion of purchases and holdings under systemic transformation facility10348-(93/61) STF558
    Restrictions; see Exchange restrictions; Payments restrictions
    Retention quotas201-(53/29)457
    Rights approach or Rights accumulation programs; see Overdue obligations to Fund, purchases from Fund
    Rule G-11289-(62/1)*393
    Rule I-6(4):
    Rate of charges8165-(85/189)*
    G/TR299
    8780-(88/12)310
    8861-(88/67)311
    9135-(89/46)315
    947-(90/98)344
    10340-(93/54)318, 319
    10348-(93/61) STF251
    11249-(96/39)333
    11251-(96/39)336
    Rule I-10:
    Rate of remuneration8348-(86/122)*304
    8861-(88/67)*312
    947-(90/98)344
    10340-(93/54)319
    Rule O-2:
    Determination of exchange rate1289-(62/1)*393
    5590-(77/163)348
    6001-(79/1) S537
    6053-(79/34) S539
    6054-(79/34) S541
    6336-(79/178) S542
    704-(82/8) G/S551
    Valuation of U.S. dollar in terms of special drawing rights6709-(80/189)3525
    Rule P-7:
    Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S545
    Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178)S544
    Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S538
    Declaration concerning use of special drawing rights in accordance with prescription on pledges6053-(79/34) S*539
    Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations6000-(79/1) S*536
    Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S543
    Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations6054-(79/34) S*541
    Rule P-9, record of operations in special drawing rights6000-(79/1) S*536
    6001-(79/1) S538
    6053-(79/34) S*540
    6054-(79/34) S*542
    6336-(79/178) S544
    6337-(79/178) S545
    6437-(80/37) S545
    8186-(86/9) SBS/S531
    8239-(86/56) SAF532
    8937-(88/118) ESAF/S533
    Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65)550
    RuleT-1, interest and charges in respect of SDRs8759-(87/176)* ESAF44
    11251-(96/39)336
    S Saudi Arabia, association agreement under General Arrangements to Borrow;
    Borrowing by the Fund Transferability of claims7629-(84/25)403
    SDDS, see, Special Data Dissemination Standard (SDDS)
    Section 22 of By-Laws, compulsory withdrawalEBM/89/100 and EBM/89/101106
    Special contingent account, establishment8619-(87/90)309
    Additions in FY 1988 and disposition of amounts placed in FY 1987 and FY 19888780-(88/12)310
    Special Contingent Account (SCA-2)9471-(90/98)*344
    Special Data Dissemination Standard (SDDS), see, Standards for dissemination of economic and financial statistics to the public by member countries and implementation of the SDDS
    Special Disbursement Account; see Accounts Special drawing rights:
    Allocation for first basic periodB/G Res. 24-12679
    Allocation for third basic periodB/G Res. 34-3681
    New participants5956-(78/180) S534
    6368-(79/191) S534
    Allocation for fourth basic period. Managing Director’s report to Board of Governors and to Executive Board691
    Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127) Annex443
    Designation, review of rules and method of calculating amounts6209-(79/124) S546
    Holders prescribed by the Fund:
    African Development Bank and African Development Fund8318-(86/104) S530
    Andean Reserve Fund6486-(80/77) S529
    Arab Monetary Fund6609-(80/126) S530
    Asian Development Bank7229-(82/136) S530
    Bank for International Settlements6484-(80/77) S529
    Bank of Central African States7064-(82/26) S530
    Central Bank of West African States6908-(81/101) S530
    East African Development Bank7582-(83/174) S530
    Eastern Caribbean Central Bank7707-(84/79) S530
    International Bank for Reconstruction and Development6718-(81/1) S530
    International Development Association6718-(81/1) S530
    International Fund for Agricultural Development6489-(80/77) S530
    Islamic Development Bank7086-(82/42) S530
    Nordic Investment Bank6488-(80/77) S530
    Swiss National Bank, Termination of status10225-(92/147) S530
    Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S526
    Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
    Loans for Trust Fund expressed in5069-(76/72)565
    Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S525
    Payment of net charges and assessment in Special Drawing Rights Department; see Special Drawing Rights Department, payment
    Payment of subscriptions6266-(79/156)5
    Reconstitution, abrogation of rules6832-(81/65) S550
    Sale by Fund to members for use in quota payments under Seventh General Review6663-(80/160) S287
    Sale by Fund, guidelines6773-(81/35) G/S278
    7626-(84/23) S281
    7941-(85/50) S281
    8265-(86/70) S281
    8574-(87/64) S281
    10278-(93/19) S282
    SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR571
    Transfers under Article V, Section 3(f)6275-(79/158) G/S275
    Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)273
    6774-(81/35)282
    Use in donations6437-(80/37) S545
    Use in financial operations under ESAF
    Trust or administered account8937-(88/118) ESAF/S532
    Use in forward operations6337-(79/178) S544
    Use in loans6001-(79/1) S536
    Use in operations under structural adjustment facility8239-(86/56) SAF531
    Use in payment of charges5702-(78/39)* G/S297
    Use in payment of 25 percent of quota increasesB/G Res. 31-2616
    B/G Res. 34-2619, 623
    B/G Res. 38-1634
    B/G Res. 45-2657
    Use in payment of subsidy8186-(86/9) SBS/S531
    Use in payment of Trust Fund obligations8642-(87/101) S/TR530
    Use in pledges6053-(79/34) S*538
    Use in repurchases5703-(78/39)293, 294
    5809-(78/88)294
    Use in settlement of financial obligations6000-(79/1) S*535
    Use in swap operations6336-(79/178) S542
    Use in transfers as security for performance6054-(79/34) S540
    Valuation basket, guidelines for calculation of currency amount8160-(85/186) G/S524
    Valuation basket, see also, valuation method Valuation for use in borrowing arrangements1289-(62/1)*393
    Valuation, interimB/G Res. 29-10609
    Valuation method6631-(80/145) G/S521
    9549-(90/146) G/S523
    11073-(95/92) G/S523-24
    Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S525
    Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S552
    Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
    Standards for the dissemination of economic and financial statistics to the public by member countries and implementation of the SDDSEBM/96/36481
    Stand-by Arrangements:270-(53/95)*123
    Access limits, see Guidelines on access limits below
    Augmentation of rights to make purchases, elimination5706-(78/39)138
    Charges10464-(93/130)*150
    Conditionally, guidelines6056-(79/38)125
    Review8192-(86/13)144
    8583-(87/72)144
    9790-(91/106)145
    10723-(94/58)146
    Elimination of use under Enlarged Access Policy10181-(92/132)256
    Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)556
    Foreign borrowing, performance criteria6230-(79/140)*130
    Form, standard10464-(93/130)*147
    Guidelines on access limits10181-(92/132)256
    10819-(94/95)256
    11098-(95/101)257
    11374-(96/102)257
    Guidelines, operational; see Performance criteria and phasing, below Ineligibility270-(53/95)*124
    10464-(93/130)*150
    Publicity upon declaration of7999-(85/90)518
    793-(85/41)518
    Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)135
    Noncomplying purchases; see Misreporting and noncomplying purchases, above
    Operational guidelines; see Performance criteria and phasing, below
    Overdue obligations to the Fund, purchases from Fund7908-(85/26)97
    EBM/84/5498
    Payments arrears, performance criteria3153-(70/95)94
    Performance criteria and phasing, operational guidelines7925-(85/38)128
    Period270-(53/95)*123
    5508-(77/127)267
    6783-(81/40)253
    Policies and procedures270-(53/95)*123
    Provision for enlarged access to Fund’s resources6783-(81/40)252
    10181-(92/132)256
    Provision for supplementary financing5508-(77/127)266
    Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)128
    Renewal270-(53/95)*123
    Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
    Review, Lapse of time procedure11515-(97/59)158
    Suspension of right to engage in purchase transactions270-(53/95)*124
    10464-(93/130)*150
    Strengthened cooperation strategy on overdue obligations to Fund; see Overdue obligations to Fund, purchases from Fund Structural adjustment facility:
    Amounts of assistance8240-(86/56) SAF*359
    9809-(91/114) SAF377
    10090-(92/24) SAF/ESAF377
    Income from investment and loans, availability of use8760-(87/176)378
    Interest8238-(86/56) SAF*355
    List of eligible members and amounts of assistance8240-(86/56)*359
    Loans under ESAF8238-(86/56)* SAP357
    Regulations for administration8238-(86/56)* SAP351
    Chairman’s Summing up EBM/86/56363
    Review of experience, conditionality, benchmarks, and prior actionsChairman’s Summing Up EBM/87/93367
    Review of operation8241-(86/56) SAF362
    8757-(87/176) SAF/ESAF374
    9114-(89/40) SAF/ESAF375
    9487-(90/106)* SAF/ESAF375
    9808-(91/114) SAF/ESAF376
    10089-(92/94) SAF/ESAF376
    Lapse of time procedure, see, Stand-by Arrangements
    Use of SDRs in Operations8239-(86/56) SAF531
    Subscriptions:
    Gold and currency, ownership by Fund170-33
    Payment of quota increasesB/G Res. 31-2616, 617
    B/G Res. 34-2624, 625
    B/G Res. 38-1634
    B/G Res. 45-2657
    Reserve Assets:
    Guidelines for determining amounts to be paid6266-(79/156)4
    Payment:
    Under Eighth General Review of QuotasB/G Res. 38-1634
    Under Ninth General Review of QuotasB/G Res. 45-2657
    Subsidy Account; see Accounts, Subsidy Accounts Sugar Agreement, International; see Buffer stock financing facility
    Supplemental Reserve Facility:
    Disposition of net operational income11683-(98/27)247
    11716-(98/49)247
    Establishment11627-(97/123) SRF243
    Supplementary financing facility:
    Authorization to make calls under borrowing arrangements6006-(79/3)445
    Charges; see Charges Establishment5508-(77/127)265
    No augmentation of rights to purchase5706-(78/39)138
    Replenishment of Fund’s holdings of currencies5509-(77/127)438
    Interest payments under borrowing agreements6163-(79/96)446-47
    Meaning of “Net creditor position in the Fund”6008-(79/3)446
    Repurchases; see Repurchases Subsidy Account
    Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS587
    Disbursement of additional subsidy amount for July 1, 1985 through June 30, 19878674-(87/117) SBS588
    Additional subsidy payments for May 1, 1987 through June 30, 1987 and for July 1, 1987 through June 30, 19888941-(88/122) SBS589
    Instrument6683-(80/185)* TR577
    Investment of currencies6854-(81/78)* SBS584
    Means of payments8185-(86/9) SBS/S585
    Subsidy payments, July 1, 1984-June 30, 19858037-(85/110)SBS536
    Subsidy payments, July 1, 1985-June 30, 19868492-(87/1)SBS587
    Subsidy payments, July 1, 1986-June 30, 19878674-(87/117)SBS588
    Subsidy payments, July 1, 1987-June 30, 19888941-(88/122) SBS589
    Subsidy payments, July 1, 1988-June 30, 19899222-(89/97) SBS590
    Subsidy payments. May 1-June 30, 1989 and July 1, 1989-June 30, 19909510-(90/122) SBS590
    Subsidy payments, May 1-June 30, 1990 and July 1, 1990-June 30, 19919788-(91/105) SBS591
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS585
    Transferability of claims; see Transferability of claims
    Surveillance over exchange rate policies5392-(77/63)*10
    9499-(90/111)*16
    Enhanced surveillance; see Enhanced surveillance
    Operational guidance; see Procedures, implementation of three-month period
    Procedures, implementation of three-month period7427-(83/83)20
    Chairman’s Remarks EBM/91/1521
    Review of procedures9499-(90/111)*16
    10273-(93/15)17
    10949-(95/37)18
    11477-(97/38)18
    Supplemental surveillance procedures6026-(79/13)*15
    Suspension of voting rights, publicity, see Voting rights, suspension, publicity
    Systemic transformation facility10348-(93/61)* STF247
    Expiration of Period10961-(95/41)251
    T Technical assistance activities, Framework administered account10942-(95/33)*86
    Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)473
    Tin Agreements, International; see Buffer stock financing facility
    Trade, Voluntary Declaration4254-(74/75)476
    B/G Res. 29-10608
    Tranche policies:
    Application in connection with decision on enlarged access6783-(81/40)252
    Application in connection with supplementary financing facility5508-(77/127)266
    Application in connection with buffer stock financing facility10186-(92/132)233
    Application in connection with compensatory and contingency financing facility8955-(88/126)*192
    Application in connection with systemic transformation facility10348-(93/61) STF248
    Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)137
    Floating, elimination for purpose of determining level of conditionality applied to purchase10186-(92/132)233
    Fund attitude to request for transactions within “first credit tranche” and beyond125
    Transferability of claims:
    General Arrangements to Borrow1289-(62/1)*393
    7628-(84/25)402
    Saudi Arabia’s borrowing agreement7629-(84/25)403
    Transitional provisions of Article XIV117-1520
    1034-(60/27)461
    Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations (ESAF/HIPC Trust)11436-(97/10)*57
    Chairman’s Summing up EBM/97/1069
    Administration of the Trust11436-(97/10)*66
    Contributions to the Trust11436-(97/10)*62
    Instrument to establish11436-(97/10)*58
    Period of operation and liquidation11436-(97/10)*68
    Terms and conditions for administration of Account11698-(98/38)ESAF72
    Transfer from ESAF Trust11683-(98/29)47
    Trust grants and loans11436-(97/10)*62
    Trust Fund:
    Deposits denominated in SDRs5973-(78/189)TR571
    Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)561
    5709-(78/41) TR571
    5832-(78/95) TR572
    6540-(80/98) TR575
    Diversification of investments5972-(78/189)570
    5973-(78/189) TR571
    Eligible members, review of list5563-(77/150) TR569
    Final payments of profits and loans for period July 1, 1976- June 30, 19785832-(78/95) TR572
    Instrument5069-(76/72)561
    Amendment5563-(77/150) TR569
    5972-(78/189)570
    6793-(81/45)577
    Means of payment of interest6358-(79/188) TR*574
    Means of repayment by members on their indebtedness under loan agreements7142-(82/85) TR*575
    Overdue interest and special charges8165-(85/189)* G/TR299
    Elimination after six months or more10352-(93/49) G/TR*300
    Repayment terms: Final loan disbursement6793-(81/45)577
    Second period:
    Extension6466-(80/68) TR573
    6676-(80/168) TR573
    Extension of period for qualification6202-(79/121) TR573
    Timing of loan disbursements6201-(79/121) TR572
    Special charges on overdue interest8165-(85/189) TR*300
    Termination and transfer of resources to Special Disbursement Account6704-(80/185)TR576
    U Unenforceability; see Exchange contracts United Nations:
    Agreement with International Monetary Fund695
    Convention on the Privileges and Immunities of the Specialized Agencies702
    Application to Fund, Annex V721
    List of members which have accepted with respect to Fund722
    General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6-8594
    United States dollars:
    Determination of value in terms of special drawing right pursuant to Rule O-2(b)6709-(80/189) S525
    Inclusion in operational budgets6772-(81/35) G/S278
    Use for payment of interest and other Fund liabilities6358-(79/188)* TR574
    Use for repayments by members on their indebtedness under Trust Fund loan agreements7142-(82/85)* TR575
    Use in payments under supplementary financing facility Subsidy Account7754-(84/108) SBS586
    Use of Fund’s resources (see also, Borrowing by the Fund; Charges; Extended arrangements;
    Purchase transactions; Stand-by arrangements):
    Access limits, see, Guidelines on access limits below
    Access policy, see, Guidelines on access limits below
    Application of same policy for stand-by arrangements as for requests for immediate drawings276-(53/95)*123
    Authority to use resources of Fund, interpretation of Articles of Agreement71-291
    Buffer stock financing2772-(69/47)*232
    Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)237
    Buffer stock financing facility as applied to International Tin Agreements:
    Fourth3179-(70/102)234
    3351-(71/51)235
    Fifth5127-(76/91)235
    Sixth7247-(82/147)236
    Capital transfers1238-(61/43)91
    Compensatory and contingency financing facility8955-(88/126)*192
    Conditionally, guidelines6056-(79/38)125
    Review8192-(86/13)143
    8583-(87/72)144
    9189-(89/77)145
    9790-(91/106)145
    10723-(94/58)146
    “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-391
    Credit tranche policies; see Tranche policies Enlarged access, policy on6783-(81/40)*252
    Extended Fund facility4377-(74/114)*138
    “First credit tranche”125
    Floating of facilities, Elimination with respect to first credit tranche conditionality10186-(92/132)233
    Guidelines on access limits10181-(92/132)256
    Reviews10819-(94/95)256
    11098-(95/101)257
    11374-(96/102)257
    11608-(97/112)258
    In accordance with purposes of Fund102-(52/11)93
    Ineligibility:
    Effect on purchases under extended arrangement10464-(93/130)*154-55
    Effect on purchases under stand-by arrangement270-(53/95)*124
    104-(54-(93/130)*150
    Publicity upon declaration7999-(85/90)518
    7931-(85/41)518
    Under Article V, Section 5284-3285
    Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)554
    Interpretation of Articles of Agreement71-291
    Limit on access to Fund resources, guidelines10181-(92/132)256
    10819-(94/95)256
    11098-(95/101)257
    Limitation under Article V, Section 5284-3285
    286-1285
    Monetary stabilization operations71-291
    Postponement, limitation under Article V, Section 5286-1285
    “Represents” in Article V, Section 3(b)(ii), meaning of the word284-492
    Reserve tranche purchases; see Reserve tranche purchases
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request10464-(93/130)*150
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*124
    Stand-by and extended arrangements, forms, standard10464-(93/130)*146
    Suspension of exchange transactions, effect on General Arrangements to Borrow1289-(62/1)*394
    Suspension of transactions under extended arrangements10464-(93/130)*154-55
    Suspension of transactions under stand-by arrangements270-(53/95)*124
    10464-(93/130)*150
    Temporary assistance in financing balance of payments deficits71-291
    Tranche policies; see Tranche policies Waiver of condition of Article V, Section 3(b)(iii), see Waiver of condition
    Waiver of 200 percent of quota limit2772-(69/47)*233
    see also Article V, Section 3(b)(iii)
    V Vienna Institute:
    Agreement for the establishment10575-(94/4)734
    Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)476
    B/G Res. 29-10608
    Voting power, elected Executive Directors, effect of change in quota180-5516
    Voting rights, suspension, publicity10305-(93/32)519
    W Waiver of condition of Article V Section 3(b)(iii)4377-(74/114)*141
    5508-(77/127)270
    6783-(81/40)255
    8955-(88/126)*192
    World Bank, see, Bank
    World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)*14
    World Trade Organization (WTO):
    Agreement between WTO and the IMF751
    Fund-WTO Cooperation Agreement11381-(96/105)747
    Guidelines/Framework for Fund staff collaboration10968-(95/43)504

    References are to the Articles of Agreement after the Second Amendment, which entered into force April 1, 1978. References to Articles in effect before the Second Amendment are indexed under their corresponding Articles after the Second Amendment.

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