Back Matter

Author(s):
International Monetary Fund
Published Date:
May 2008
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    Index

    • A

    • Access policy, use of Fund resources

      • access limits in credit tranches and under Extended Fund Facility, 354–58

      • access limits, guidelines, 353–58

      • balance of payments needs, 345

      • capital account crises, 358

      • capital account crises, modifications to Supplemental Reserve Facility, 364

      • capital account crises, prevention, 373

      • exceptional circumstances, 359, 370

      • exceptional circumstances, review, 369–73

      • modifications to Supplemental Reserve Facility, 364–69

      • post-conflict countries, 335

      • REVIEW, 353, 364–69

      • revolving character of Fund resources, 333, 355

    • Accounting by members

      • ownership of gold and currency subscriptions, 18

    • Accounts. See specific accounts by name:

      • Administrative.

      • Borrowed Resources Suspense.

      • Framework Administered (Technical Assistance).

      • General Resources.

      • Loan.

      • Post-conflict emergency assistance to PRGF.

      • Post-SCA-2 Administered.

      • PRGF-ESF Trust Subsidy.

      • Reserve.

      • Special Contingent.

      • Special Disbursement.

      • Supplementary Financing Facility (SFF) Subsidy.

    • Administrative Account balances, 769

      • reserve tranche position, 769

    • Africa Regional Technical Assistance Centers Subaccount, 134

    • African Development Bank

      • communication concerning members’ arrears to the Fund, 746

      • exchange of document, 654

      • prescribed holder of SDRs, 706

    • African Development Fund, 706

    • Andean Reserve Fund

      • prescribed holder of SDRs, 705

    • Annual Report (IMF), 172, 211, 254

    • Anti-money laundering

      • assessing a global standard and preparing ROSCs, proposals, 120–24

      • FATF 40 + 8 Recommendations, use of, 125

      • Fund involvement, 118

      • methodology document, 120

      • offshore financial center assessments, 116, 119

      • twelve-month pilot, program review, 125–29

    • Arab Monetary Fund

      • exchange of documents with, 654

      • prescribed holder of SDRs, 706

    • Architecture of international financial system, 40

    • Archives of the Fund

      • access policy, 604

      • attorney-client privilege, 604

      • Executive Board minutes, access, 605

      • Grievance Committee proceedings, 604

    • Arrears

      • lending into arrears, 345, 347–51

      • settlement of disputes between members, 93, 352–53

    • Arrears (member’s failure to provide foreign exchange for current international transactions). See Exchange restrictions

    • Arrears of a member to creditors other than the Fund

      • debt strategy, 345

      • extended arrangements, performance criterion, 319

      • first credit tranche, 344

      • Fund lending into nonsovereign arrears, 346

      • Fund lending into sovereign arrears, 346

      • Fund policies and procedures, 344

      • nontoleration of arrears to official creditors, 345

      • performance criteria, 346

      • stand-by arrangement, performance criterion, 318

    • Arrears to the Fund. See Overdue financial obligations to the Fund

    • Article I, purposes of the Fund, 260, 509, 514

    • Article I (v), temporary availability of Fund’s general resources, 312

    • Article II, Section 2 membership, 19

    • Article III, Section 2(a), 3

    • Article III, Section 2, adjustment of quotas, 3

    • Article III, Section 3(a), 9

    • Article IV consultations, 86

      • annual, principle of, 39

      • Article VIII restrictions, 517

      • Article XIV restrictions, 517

      • Central African Economic and Monetary Union, 69

      • collaborative efforts, 631

      • conditionality discussions, 267

      • consultation cycles, changes, 50–52

      • data provision, 60

      • document exchange with WTO, 645

      • early warning system models, 41

      • Eastern Caribbean Currency Union, 71

      • enhanced surveillance, 94–98

      • euro area, 66–68, 68

      • European Central Bank, observer status, 643–44

      • evaluation and review of related programs, 267–68

      • exchange rate policies, 40

      • Financial Sector Assessment Program (FSAP), 98–104

      • governance issues, 74, 80, 82

      • macroeconomic relevance test, 53

      • military expenditures, 85

      • multiple currency practices, 521

      • Policy Support Instrument, 51

      • Post-Program Monitoring, 292

      • prolonged users of Fund resources, 293

      • Public Information Notices, release, 692–94

      • publication of Article IV staff reports, 672–73, 677

      • publication of background reports, 672, 681–84

      • Recent Economic Development reports, 38, 650, 655, 672–73, 680

      • representation of European Central Bank, 643–44

      • staff reports, data quality, 41

      • staff reports, release to international and multilateral agencies, 651–54

      • three-month period, 65

      • use of Fund resources, 267

      • World Bank, collaboration with, 635

      • World Bank, observer status, 628

      • World Trade Organization, observer status, 650, 854

    • Article IV, Section 1, principles for guidance of members’ policies, 29

    • Article IV, Section 1(iii), manipulation of exchange rates, 33

    • Article IV, Section 2, notification of exchange arrangements, 23

    • Article IV, Section 3(a), surveillance over exchange rate policies, 652

    • Article IV, Section 3(b), surveillance over exchange rate policies, 652

    • Article V, Section 1, designation of fiscal agency, 163, 462

    • Article V, Section 2(b), financial and technical services, 130, 233, 249, 256

    • Article V, Section 3, conditions governing use of Fund’s general resources

      • application of Fund policies to purchases of currency borrowed by Fund, 407, 460, 491

      • early repurchase guidelines, 407

      • General Arrangements to Borrow (GAB), 476

      • meaning of “consistent with the provisions of this agreement,” under Article V, Section 3, 259

      • New Arrangements to Borrow (NAB), 491

    • Article V, Section 3(b)(ii)

      • balance of payments need, 186

      • meaning of “represents” that a member has a need to make purchases, 260

    • Article V, Section 3(b)(iii), waiver of limitation of 200 percent of quota

      • Compensatory Financing Facility, 381

      • emergency assistance, 330

      • Extended Fund Facility, 314

      • Supplemental Reserve Facility, 380

    • Article V, Section 3(d), operational budgets assessment of strength of members’ balance of payments and gross reserve position for operational budgets, 394, 401

      • selection of currencies in purchases, 396, 398

    • Article V, Section 3(f), transfers of SDRs, 397

    • Article V, Section 4, waiver of conditions governing use of Fund’s general resources, 393

    • Article V, Section 5, limitation on use of Fund’s resources, 273

    • Article V, Section 6(b), transfers of SDRs by the Fund, 395, 401

    • Article V, Section 6(c), sales of SDRs by the Fund, 406

    • Article V, Section 7, repurchases, 393, 491

    • Article V, Section 7 (b), early repurchases

      • assessment of strength of member’s balance of payments and gross reserve position, 394

      • assessment of strength of members’ balance of payments and gross reserve position, 407

    • Article V, Section 7 (c), repurchases, 409

    • Article V, Section 7(d), repurchases, 393

    • Article V, Section 7(i), selection of currencies for repurchases, 395, 402, 411

    • Article V, Section 8, charges, 416

    • Article V, Section 8(a), charges, 419, 421

    • Article V, Section 8(b), charges, 379, 409, 416, 419, 421, 769

    • Article V, Section 8(c), charges, 416, 418, 421

    • Article V, Section 8(d), charges, 416

    • Article V, Section 8(e), charges, 416

    • Article V, Section 9(a), remuneration, 769

    • Article V, Section 11, maintenance of value, 433

    • Article V, Section 12(f), other operations and transactions

      • gold sales, 435, 450

      • gold sales proceeds, placement in Special Disbursement Account, 435

    • Article V, Section 12(f)(ii), Special Disbursement Account (SDA) resources for assistance to low-income developing members, 435

    • Article V, Section 12(h), investment of member’s currency held in SDA, 435

    • Article V, Section 12(j), adoption of regulations for administration of Structural Adjustment Facility, 436

    • Article VI, capital transfers

      • use of Fund resources for, 453

      • WTO, information on Fund decisions requesting a member to exercise controls to prevent a large or sustained outflow of capital, 849

    • Article VI, Section 1, use of Fund’s resources for capital transfers

      • freedom to adopt regulations on capital movements, 454

      • Supplemental Reserve Facility, 377

    • Article VI, Section 2 of the Articles of Agreement of the Bank, 797

    • Article VI, Section 3, controls on capital transfers, 454

    • Article VII, Section 1, replenishment and scarce resources borrowing by the Fund, 455, 482, 494

    • Article VII, Section 3(b), scarce currency, 508

    • Article VIII, general obligations of members

      • acceptance of obligations, 516

      • bilateral payments agreements, 325

      • bilateral payments arrangements, 320

      • bilateralism, 509

      • consultations, World Bank observer, 628

      • payments restrictions, 92, 509, 513–16

      • restrictions, 516

      • retention quotas, 512

      • settlement of disputes between members, 92

    • Article VIII, Section 2, avoidance of restrictions on current payments acceptance of obligations under, 514

    • Article VIII, Section 2(a)

      • restrictions on current payments and transfers, 508

      • undue delays as payment restrictions, 516

    • Article VIII, Section 2(b), unenforceability of exchange contracts interpretation, 506–7

    • Article VIII, Section 3, avoidance of discriminatory currency practices

      • acceptance of obligations under, 512, 514

      • multiple currency practices, 514, 523, 524

    • Article VIII, Section 4, convertibility of foreign-held balances

      • acceptance of obligations under, 516

    • Article VIII, Section 5, furnishing of information to the Fund

      • consideration of report by Managing Director, time periods, 533

      • declaration of censure, 535

      • members’ obligations, 531

      • procedures prior to report by the Managing Director to the Executive Directors, 532

      • report by Managing Director, 533

      • sanctions, 535

      • strengthening effectiveness of, 61, 531

    • Article VIII, Section 7, obligation to collaborate regarding policies on reserve assets, 713

    • Article IX, Section 5, immunity of archives, 604

    • Article IX, Section 7, privilege for communications, interpretation, 608

    • Article X, relations with other international organizations, 817

    • Article XII, Section 3(b)(i), Executive Directors, appointed, interpretation, 657

    • Article XII, Section 3(c), additional appointed Executive Directors

      • balances held in administrative accounts, 780

      • interpretation, 657

      • use of the preceding two years, 658

    • Article XII, Section 3(f), appointed Executive Directors interpretation, 657

    • Article XII, Section 3(j), 610

    • Article XII, Section 4, Managing Director and staff, 666

    • Article XII, Section 6, reserves, distribution of net income, and investment, 667

    • Article XII, Section 7, publication of reports, 672

    • Article XII, Section 7(a), 694, 821

    • Article XII, Section 8, communication of Fund views to members, 681

    • Article XIII, Section 2, 503

    • Article XIV, exchange restrictions under transitional arrangements availment of transitional provisions, 515

      • bilateralism, 509

      • commitment to current account convertibility, 516

      • consultations, World Bank, 629

      • multiple currency practices, 512

      • retention quotas, 511

      • settlement of disputes between members, 92

    • Article XIV, Section 2, exchange restrictions

      • maintenance of orderly exchange arrangements, 523

      • multiple currency practices, 523–26

      • restrictions related to national security, 508

      • transitional arrangements, 507, 510

      • undue delays as payments restrictions, 516

    • Article XIV, Section 3, representation by the Fund

      • application, 524

      • meaning of “exceptional circumstances” in Article XIV, Section 3, 696

    • Article XVII, Section 3, other holders of SDRs, 164, 255, 472, 702

    • Article XVIII, 709

    • Article XVIII, Section 1(a), principles and considerations governing SDR allocation and cancellation, 711, 712, 718, 810

    • Article XVIII, Section 2(a), 710

    • Article XVIII, Section 2(a), SDR allocations and cancellations, 714

    • Article XVIII, Section 2(b), 710, 716

    • Article XVIII, Section 2(c), 710, 715, 716

    • Article XVIII, Section 2(d), 715

    • Article XVIII, Section 2(e), 716

    • Article XVIII, Section 4, decisions on SDR allocations and cancellations, 716, 810

    • Article XVIII, Section 4(a), 710–12

    • Article XVIII, Section 4(b), 710–12, 810, 811

    • Article XVIII, Section 4(c), 711, 810

    • Article XVIII, Section 4(c)(ii), 715, 812

    • Article XVIII, Section 4(d), 811

    • Article XIX, Section 2(c), SDR operations and transactions between participants

      • donations, 730

      • forward operations, 729

      • loans, 721

      • other holders, 702

      • pledges, 723–25

      • settlement of financial obligation, 720

      • swap operations, 727

      • transfers as secruity for the performance of financial obligations, 725

    • Article XIX, Section 4, limit on SDR Department participant’s obligation to provide currency, 460, 478, 492

    • Article XIX, Section 5, designation of participants to provide currency, 731

    • Article XIX, Section 5(a)(i), designation plans, 394, 734

    • Article XIX, Section 5(c), designation rules in SDR Department, 734

    • Article XIX, Section 6(b), reconstitution, 736

    • Article XIX, Section 7(a), calculation of exchange rates, 462, 494, 720, 721, 723, 725, 727

    • Article XX, Section 1, interest paid on holding of SDRs, 702

    • Article XX, Section 2, SDR Department interest and charges, 737

    • Article XX, Section 5, application against unpaid charges of SDRs acquired by participants after payment date, 738

    • Article XXI(a)(i), administration of General Department and SDR Department, 811

    • Article XXII, general obligations of participants in SDR department, 713

    • Article XXIII, Section 1, suspension of operations and transactions in SDRs, 704

    • Article XXIV, Sections 1(a) and 1(b), 709

    • Article XXIV, Section 4, 709

    • Article XXVI Remedial Measures on Overdue Financial Obligations, 739

    • Article XXVI, Section 2(b), 792, 797

    • Article XXVI, Section 3, withdrawal from membership, 463, 496

    • Article XXVII, suspension of exchange transactions, 495

    • Article XXIX, interpretation

      • New Arrangements to Borrow, interpretation outside the purview of Article XXIV, 465

      • transferability of claims under Saudi Arabia’s Borrowing Agreement, 474

      • unenforceability of exchange contracts, 456

    • Article XXIX(a), interpretation

      • Appointment of Executive Director by a member having one of five largest quotas, Article XII, Sections 3(b)(i) and 3(f), 657

      • authority of the Fund to use its resources, 259, 787

      • privilege for communications, Article IX, Section 7, 608

      • unenforceability of exchange contracts under Article VIII, Section 2(b), 506

    • Article XXX(c), definition of reserve tranche purchase

      • exclusion of purchases and holdings from CFF, 381, 768

      • exclusion of purchases and holdings from EFF, 768

      • exclusion of purchases and holdings from emergency assistance, 330

      • exclusion of purchases and holdings from SRF, 379, 769

    • Article XXX(c)(iii), exclusion of purchases and holdings in credit tranches or under extended arrangements, 768

    • Article XXX(f), freely usable currencies, 697, 770

    • Article XXXI, Section 1, entry into force of Articles of Agreement, 3

    • Asian Development Bank

      • communications concerning members’ arrears to the Fund, 747

      • exchange of documents with, 652

      • prescribed holder of SDRs, 706

    • Attribution, rule of

      • members indebted to Fund, 402

      • reduction in Fund’s holdings of currency, 414–15

    • Audit

      • external audit firm, 694

      • framework Administered Account, 133

      • Post-SCA-2 Administered Account, 256

      • PRGF-ESF Trust, 163

      • PRGF-HIPC Trust, 208, 218

      • safeguards for use of Fund resources, 261

      • Supplementary Financing Facility Subsidy Account, 773

    • Authorized Signatories, 666

    • B

    • Balance of Payments Manual (5th Ed.), 581, 592, 595

    • Balance of payments need

      • access policy, 354

      • Compensatory Financing Facility, 381

      • conditionality, 261

      • emergency assistance, natural disasters, 330

      • emergency assistance, post-conflict countries, 333

      • extended arrangements, 327

      • Extended Fund Facility, 326

      • Fund-supported programs, 262

      • lenders to ESAF Trust, need because of developments in reserves, 174, 208

      • PRGF-ESF loans, 148

      • protracted balance of payments problems, 438

      • Supplemental Reserve Facility, 377–81

    • Balance of payments position

      • assessment of strength for purposes of designation plans, operational budgets and repurchases, 394–95

    • Bank for International Settlements (BIS)

      • investment by Fund of currencies held by Borrowed Resources Suspense Accounts, 504

      • investment by Fund of currencies received by SFF Subsidy Account, 781

      • prescribed holder of SDRs, 705

    • Bank of Central African States prescribed holder of SDRs, 706

    • Bank-Fund collaboration. See also World Bank (International Bank for Reconstruction and Development)

      • conditionality, 635–39

      • country programs, 635

      • debt sustainability assessments, 642

      • Financial Sector Assessment Program, 100

      • financial systems, 635

      • IMF-World Bank Concordat, 617–28

      • longer-term program engagement, 296

      • observer status, generally, 628

      • World Bank observer status, 629

    • Bilateral payments arrangements

      • extended arrangement, 325

      • stand-by arrangement, 321

      • three-month settlement rule, temporary exemption, 510

    • Bilateralism and convertibility, 509–10

    • BIS. See Bank for International Settlements

    • Board of Governors

      • Eleventh General Review of Quotas, 3

    • Board of Governors Resolutions

      • Composite Resolution, 789

      • SDR allocation, First Basic Period, 709–10

      • SDR allocation, Third Basic Period, 710

    • Borrowed Resources Suspense Accounts

      • establishment, 503

      • investment by the Fund of currencies held in, 503–4

    • Borrowing by the Fund. See also General Arrangements to Borrow (GAB); New Arrangements to Borrow (NAB)

      • guidelines, 504

    • Burden sharing

      • implementation in FY 2001, 424

      • implementation in FY 2007, 427, 429

      • income position, FY 2007, 429

      • income position, FY 2007, mid-year review, 429

      • income position, FY 2008, mid-year review, 431

      • investment income, FY 2007, 430

      • MDRI-I Trust reimbursement, 430

      • principles of, 424

      • rate of charge determination of, 425

      • rate of charge, FY 2008, 430

    • By-Laws

      • Section 13, vote without meeting, 10, 15

      • Section 20, audits, 133, 166, 205, 210, 241, 248, 254, 257, 694, 780, 832

      • Section 22, compulsory withdrawal, 748, 751, 752

    • C

    • Capital account crises

      • access policy, 358

      • exceptional access policy, 2004 review, 369

      • exceptional access policy, SRF, 364

    • Capital flows

      • action to limit disequilibrium flows, Composite Resolution, 803

      • Eleventh General Review of Quotas, 6, 17

      • Supplemental Reserve Facility, 377

      • surveillance, 44

      • WTO, information on Fund decisions requesting a member to exercise capital controls, 853

    • Capital transfers

      • controls by members, 454

      • multiple currency practices applicable solely to, 520

      • payments arrears, 336

      • use of Fund’s resources for, 521

    • Caribbean Development Bank (CDB), 654

    • CCLs. See Contingent Credit Lines

    • Censure

      • draft declaration, 749

    • Central African Economic and Monetary Union

      • surveillance over monetary and exchange rate policies, 69

    • Cereal import costs

      • compensatory financing of fluctuations in, 387, 392

    • CFF. See Compensatory Financing Facility

    • Charges. See also Burden sharing; Interest

      • accounting for charges from members with overdue obligations, 416, 417

      • accrued charges, 416

      • administrative account balances, 769

      • extended arrangements, 321

      • Extended Fund Facility, 314

      • future changes in charges, 416

      • media of payment in General Resources Account, 417

      • payment by nonparticipant in the SDR Department, 417

      • payment of net charges and assessment in the SDR Department for FY ended April 30, 1982, 737

      • review, 421

      • setoff in connection with a retroactive reduction of charges due by members in arrears, 421

      • special charges on overdue financial obligations to the Fund, 418, 420

      • special charges system, review, 420, 430

      • stand-by arrangements, 321

      • Supplemental Reserve Facility, 379

      • surcharge on purchases in credit tranches and under EFF, 416

      • value date for payments of special charges, 419

      • Waiver of Special Charges, 419

    • Classified documents, 604

    • Code of Good Practices on Transparency in Monetary and Financial Policies, 279

    • Collateral, 567

      • collateral guarantees on debt, international reserves template, 567

    • Combating the financing of terrorism, 116, 119–22, 122–24

    • Committee on Reform of the International Monetary System Composite Resolution, 789–800

    • Communications, privilege for interpretation of Article IX, Section 7, 608

    • Compensatory Financing

      • Facility access limits, 383

      • cereal import costs, 381, 387

      • decision, 381–90

      • emergency assistance for natural disasters and, 330

      • estimated data, 383

      • export fluctuations, 383

      • extended arrangements, 382

      • general provisions, 381

      • indicative targets, 265, 266

      • overcompensation, 383, 386, 390, 392

      • phasing, 383

      • PRGF-ESF Trust and, 146

      • receipts from services, 385

      • repurchase expectation, 407

      • repurchase of overcompensation, legal interpretation, 386

      • repurchases, 407

      • reserve tranche purchases, 381

      • reserve tranche purchases, exclusion, 768

      • stand-by arrangements and, 320, 382

    • Compulsory withdrawal, 751, 752, 754, 759

    • Concessional external debt, OECD definition, 306

    • Conditionality

      • Bank-Fund collaboration, 635

      • benchmarks, 265, 266, 267

      • Compensatory Financing Facility, 381

      • consistency with WTO agreements, 647

      • consultation clauses, 264

      • emergency assistance, natural disasters, 332–33

      • emergency assistance, post-conflict countries, 335

      • emergency financing mechanism, 287, 288

      • financing assurance reviews, 266

      • first credit tranche, 298

      • floating tranches, 267

      • guidelines on, 261

      • individual circumstances of members, 261

      • letters of intent, 264

      • modalities, 264

      • outcomes-based, 263

      • ownership, 261, 284, 635–39

      • performance criteria, 265

      • performance criteria and phasing, relationship, 303

      • performance criteria with respect to external debt, change in coverage, 306

      • performance criteria with respect to foreign borrowing, 310

      • performance criteria with respect to foreign borrowing, discount rate, 306, 309

      • PRGF-ESF arrangements, 300

      • principles, 261

      • prior actions, 265, 271, 276, 301

      • program design, 262

      • program review, 265–68

      • stand-by arrangement, normal access to credit tranches, 298

      • streamlining, 300, 302

      • structural benchmarks, 264–68

      • Supplemental Reserve Facility, 380

      • test dates, even distribution, 304

      • uniformity of treatment, 308

      • upper credit tranche stand-by arrangements, 356

      • waiver, adopting measures prior to granting of, 265

      • waiver, nonobservance of performance criteria, 267

    • Confidentiality

      • archives, 604

      • exchange of documents with other international agencies, 653

      • FSAP Confidentiality Protocol, 108–12

      • side letters, 268–71

    • Consultation clause

      • extended arrangements, 326

      • stand-by arrangements, 321

    • Consultation cycles, Article IV. See also Article IV consultations

      • annual in principle, 39, 42

      • flexibility in, 39, 42

      • interval between Article IV consultations, 38

    • Consultations other than under Article IV

      • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 514

      • Article VIII restrictions, 508, 509, 629

      • Article XIV restrictions, 509, 512, 628

      • bilateral agreements, 509

      • competitive depreciation, 518

      • conditionality, consultation clauses, 264

      • GATT Contracting Parties, 613

      • multiple currency practices, 512

      • prescribed holders of SDRs, 703

      • PRGF-ESF, consultation with creditors, 179

      • sale of members’ currencies, 398

      • SDR allocation, 711, 811

      • trade and payments restrictions, escalation, 518

      • United Nations, 819, 821

      • World Trade Organization, 645–49

    • Contingent Credit Lines (CCLs)

      • extended arrangements and, 320, 322

      • stand-by arrangements and, 325

    • Convertibility

      • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 514

      • bilateralism, 509

      • currency, 511, 513

      • current account of the balance of payments, 513, 515

      • retention quotas, 510

    • Cross-conditionality

      • avoidance, 627

    • Currencies

      • attribution of reduction of Fund’s holdings, 414–15

      • charges on Fund’s holdings in excess of quota, 416

      • data template on international reserves, 577

      • freely usable, 145, 153, 165, 251, 476, 697, 704, 770, 779

      • General Resources Account, 394–97, 401, 417, 432–34

      • guidelines for operational budget allocation of currencies, review, 400

      • harmonization, balanced positions in the Fund, 396

      • maintenance of value, 432–34

      • presently needed for making payments, 260

      • PRGF-ESF Trust loans, 153

      • repurchases, 408

      • reserve asset payments, 10, 19, 20

      • sale of currencies of members with outstanding purchases, 398, 400

      • SDR valuation basket, 697–700

      • specification by the fund, 395–97

      • subscription to the Fund, ownership, 19

      • use in operational budgets, 394–97

    • Current international transactions (current account transactions)

      • bilateralism, 509

      • multiple currency practices, 520–24

      • payments arrears, 345

      • restrictions involving WTO members, 649, 853

      • restrictions on payments and transfers, 509, 514

      • undue delays in availability or use of foreign exchange, 516

      • use of Fund resources, 260

    • D

    • Data Dissemination Standard. See Special Data Dissemination Standard (SDDS) and General Data Dissemination System (GDDS)

    • Data provision to the Fund for surveillance, 60

    • Debt operations

      • condition precedent clauses, 352

      • extended arrangements and, 320

      • management of the debt situation, 352

      • mandatory prepayment, 352

      • stand-by arrangements and, 325

    • Debt strategy

      • payments of arrears to creditors, 343, 345, 517

    • Debt sustainability assessments, 640–42

      • Fund-Bank collaboration, 640

    • Debt-service ratio, 224

    • Declaration of censure, 747

      • draft declaration, 752

    • Declaration of ineligibility, 746–47, 752, 753

      • publicity, 690, 763

      • termination, 763

      • timing, 758

    • Declaration of noncooperation, 747–48, 754

      • draft declaration, 752

      • publicity upon withdrawal, 764

      • termination, 763

      • timing, 758

    • De-escalation of remedial measures, 764–67

    • Default, sovereign, 288, 345

    • Designation, SDR Department

      • acceptance limit, 733

      • assessment of strength of balance of payments and governance position, 394–95

      • rules for designation, review, 731–34

      • rules for designation, revision, 734–35

    • Development Committee (Joint Ministerial Committee on the Transfer of Real Resources to Developing Countries)

      • changes in the organization of work and structure of the Secretariat function, 807–9

      • composition, 796–97

      • establishment, 794–800

      • Executive Directors’ participation in meetings, 798

      • HIPC Initiative, 211, 219

      • Managing Director’s participation in meetings, 798

      • procedures, 799–800

      • rules of procedure, 807

      • WTO observer, 650

    • Discrimination

      • balance of payments reasons, 513

      • disputes between members, comparable treatment of creditors, 93, 345

      • multiple currency practices, 527

      • nondiscriminatory treatment of members, use of general resources, 261–62

    • Disputes between members

      • comparable treatment principle, 93

      • role of the Fund, 94, 352

    • Document exchange. See Exchange of documents with other international agencies

    • DSBB. See Dissemination Standards Bulletin Board

    • E

    • Early repurchase expectations, Supplemental Reserve Facility, 379

    • Early repurchases

      • emergency financing mechanism, 303

      • guidelines, 407–9

      • member’s balance of payments and gross reserve position, 407

    • Early warning system, 42

    • Early warning system models, 41

    • East African Development Bank

      • prescribed holder of SDRs, 706

    • East Caribbean Currency Authority

      • prescribed holder of SDRs, 706

    • Eastern Caribbean Central Bank

      • prescribed holder of SDRs, 706

    • Eastern Caribbean Currency Union

      • surveillance over monetary and exchange rate policies, 71

    • EC. See European Commission

    • ECB. See European Central Bank

    • EFF. See Extended Fund Facility

    • EFM. See Emergency financing mechanism Eleventh General Review of Quotas, increase in quotas of Fund members, 3

    • Emergency assistance

      • conversion to special policy, 330

      • natural disasters, 330, 331

      • post-conflict countries, 197, 336–41

      • PRGF-HIPC Trust eligibility, 197

      • PRGF-HIPC Trust qualification, 197–99

      • repurchase, 408

    • Emergency financing mechanism (EFM), 287–91

      • conditions for activation, 290

      • early repurchase, 291

    • Enhanced Structural Adjustment Facility (ESAF) Trust (transformed into Poverty Reduction and Growth Facility (PRGF) Trust). Seealso PRGF-ESF Trust

      • access limits, 177, 185

      • access to general resources by ESAF-qualified members, 177

      • balance of payments needs, 187

      • benchmarks, 184

      • blend of general and SAF/ESAF resources, 762

      • borrowing for Loan Account, consultation with creditors, 179

      • commitment amount not normally reduced, 185

      • commitment period, 181

      • eligible members, 181, 443–44

      • emergency assistance, relation to, 335

      • ESAF successor, initiation of operations, 180

      • establishment, 180–81, 446–47

      • gold pledge, 759, 761

      • gold, use of, 182

      • interest rate on Trust loans, 178

      • legal documentation, 186–87

      • loans in conjunction with existing facility, 181

      • loans in conjunction with SAF loans, 441

      • loans to Trust as member’s official reserves, 186

      • maturity of loans, 182

      • objectives of programs, 183

      • off-market gold sales, 814

      • operational agreements, 180–85

      • overdue financial obligations to Fund, 742

      • performance criteria, 176, 184

      • phasing of disbursements, 185

      • prior actions, 176, 184

      • rescheduling not available, 183

      • review, 183, 187

      • review of arrangements, mid-year, 181, 183

      • rights accumulation program, 761

      • Special Disbursement Account, 181

      • Structural Adjustment Facility, assistance in conjunction with, 441–42, 449–50

      • Subsidy account, 182, 204

      • transfer and retransfer of resources from and to Special Disbursement Account, 447–49

      • transformation to PRGF Trust, 174–76

      • use of SDRs, 708

    • Enhanced surveillance

      • annual and mid-year consultation reports, 88–89

      • Article IV consultations, 89, 90

      • Article VIII obligations, 516

      • criteria and procedures, 95–97

      • Executive Board involvement, 97

      • Fund’s role in assisting members with creditors, 94–97

      • midterm review, 88–89

      • quantified economic policy programs, 90

      • revised procedures, 90–91

      • staff reports, transmittal by member to creditors, 90–91, 97

    • Enlarged access

      • criteria for use of Fund resources, validity, 354–58

      • repurchases, 355

    • ESAF Trust. See Enhanced Structural Adjustment Facility Trust

    • ESAF-HIPC Trust. See Trust for Special ESAF Operations for the Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations

    • ESF Trust. See Exogenous Shocks Facility Trust

    • Euro

      • freely usable currency, 770

      • rates for computation and maintenance of value, 432

      • reference rates, European System of Central Banks, 700

      • weight in SDR valuation basket, 699

    • Euro area members

      • surveillance over monetary and exchange rate policies, 68, 643–44

    • European Bank for Reconstruction and Development (EBRD)

      • exchange of documents with, 654, 655

    • European Central Bank (ECB)

      • Article IV consultations, 643–44

      • confidentiality, agreement by ECB to preserve, 644

      • euro reference rates, 700

      • observer status, 643–44

    • European Commission (EC)

      • Article IV consultations, 68–69

      • exchange of documents with, 654, 655

    • European Investment Bank (EIB)

      • exchange of documents with, 654

    • European System of Central Banks, 700

    • Exceptional access policy, 359

    • Exchange arrangements. See also Exchange rates; Multiple currency practices

      • exchange taxes and subsidies, notification, 24

      • flexible, notification of significant decision, 24

      • intervention, 24

      • multiple currency practices, prior Fund approval, 24

      • notification of, 23

    • Exchange contracts

      • unenforcability, Fund’s interpretation of Article VIII, Section 2(b), 506

    • Exchange controls. See also Exchange restrictions nonsovereign arrears stemming from imposition, 346

    • Exchange of documents with other international agencies

      • ad hoc requests, 655

      • agencies meeting criteria for exchange, 654

      • Article IV consultation staff reports, 650, 655

      • changes in procedures, 655

      • criteria for access, 653–54

      • Recent Economic Developments reports, 650, 655

      • technical assistance reports, 652

      • use of Fund resources staff papers, 651–52, 655

    • Exchange rate policies. See also Exchange arrangements

      • euro area, 643–44

      • surveillance over, 24–34, 35, 41, 45, 55

      • surveillance over, review, 59

    • Exchange rates. See also Exchange arrangements; Exchange rate policies; Multiple currency practices

      • coherence in global policymaking, 646

      • computations and maintenance of value, 432–34

      • computations and maintenance of value (value date), 432

      • fixed, 521

      • floating guidelines, 802

      • fluctuating, 24, 522–23

      • General Arrangements to Borrow, 462

      • manipulation, 33

      • New Arrangements to Borrow, 462, 480

      • unification in multiple rate systems, 526

    • Exchange restrictions. See also Capital transfers; Multiple currency practices

      • approval by Fund, 517

      • Article VIII, Section 2, 3, and 4 obligations, 514–15

      • avoidance of escalation, 518

      • balance of payments reasons, 515, 516

      • bilateralism, 509–10

      • competitive depreciation, 518

      • consultations with Fund, 514–15, 518

      • discrimination for balance of payments reasons, 513

      • emergency assistance, 333

      • Fund representation in exceptional circumstances under Article XIV, Section 3, 524, 696

      • guiding principle on whether a measure is an exchange restriction, 514

      • non-balance of payments reasons, 515

      • payments arrears to creditors, 344

      • performance criteria, extended arrangement, 324

      • performance criteria, stand-by arrangement, 318

      • retention quotas, 510–12

      • security reasons, 508–10

      • transitional arrangements under Article XIV, 511–12, 515

      • undue delays, 454, 516

      • World Trade Organization, information on Fund approval, 853

    • Exchange subsidies, 24

    • Exchange taxes, 24, 521, 526

    • Executive Board

      • code of conduct, 658–64

      • meetings, procedural guidelines, 664–65

      • notification of exchange arrangements, 23

      • report on Eleventh General Review of Quotas, 3–15, 268–71

      • side letters procedures, 268

      • surveillance over exchange rates, 24, 35

    • Executive Directors

      • additional appointed, “the preceding two years,” in Article XII, Section 3(c), meaning of, 658

      • appointment by members having five largest quotas, Article XII, 657

      • appointment of two additional directors, Article XII, Section 3(c), 657–58

      • IMFC meetings participation, 791

      • procedural guidelines, 664–65

      • voting power, effect of adjustment of quota, 658

    • Exogenous Shocks Facility (ESF) Trust. See Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust

    • Export shortfalls, compensatory financing. See Compensatory Financing Facility

    • Extended arrangements. See also Access policy, use of Fund resources; Extended Fund Facility; Use of Fund resources

      • applicable situations, 311–12

      • benchmarks, 305

      • charges, 315, 321

      • Compensatory Financing Facility, 320

      • Consultation clauses, 321

      • Contingent Credit Lines, 320

      • debt and debt-service reduction, 320

      • emergency assistance and, 335

      • exclusion of reserve tranche purchases, 768

      • form, standard, 322–25

      • Guidelines on Corrective Action, 283, 325

      • ineligiblity, 739

      • lapse of time completion of reviews, 327

      • misreporting and noncomplying purchases, 272, 276, 277

      • noncomplying purchases, 325

      • overdue financial obligation to the Fund, 325

      • overdue financial obligations to the Fund, 739–40

      • performance criteria and phasing, guidelines, 303–5

      • performance criteria form, 322–24

      • period not exceeding three years to four years, 314–15

      • period of arrangement, extension, 314

      • phasing, 303–5, 315, 322–23

      • repayment expectation under PRGF Trust, 325

      • repayment obligation under PRGF Trust, 325

      • repurchase expectation, 315, 326

      • repurchases, 315, 326

      • review, completion of, 329

      • stand-by arrangements policies applicable, 315

      • Supplemental Reserve Facility and, 325, 378

      • suspension of transactions, 325

      • test dates for performance criteria, 304

    • Extended Fund Facility (EFF). See also Extended arrangements

      • applicability of policies on stand-by arrangements, 315

      • establishment, 312–16

      • situations to which facility could apply, 312

    • External Audit Committee, 695

    • External audit of Fund financial statements, 694–95

    • External debt

      • management of debt situation, 352–53

      • surveillance, 44

    • External debt performance criteria

      • concessionality, definition, 307, 310

      • coverage, 306–10

      • extended arrangement, 323

      • external debt, definition, 306–10

      • leases, 309–10

      • loans, 309

      • stand-by arrangement, 309, 319

    • F

    • FATF. See Financial Action Task Force

    • Federal Reserve Bank of New York, 700

    • Financial Action Task Force (FATF), 120–24

      • 40+8 Recommendations, 120–21

      • endorsement of methodology, 125

      • Fund collaboration with, 127

      • surveillance, 101

    • Financial Sector Assessment Program (FSAP)

      • anti-money laundering, 105, 116

      • Article IV consultations, 99, 101, 103, 105, 107

      • Bank-Fund collaboration, 100, 104, 108

      • confidentiality, 103, 104

      • Confidentiality Protocol, 108–12

      • coverage, 105

      • coverage and frequency, 100–102

      • Financial System Stability Assessments (FSSAs), 99, 107

      • frequency, 100, 106

      • FSSA reports, presumed publication, 107

      • Independent Evaluation Office review, 108

      • offshore financial centers (OFCs), 102, 116, 117

      • publication of FSAP reports, 103

      • publication of FSAP reports not authorized, 103

      • publication of FSSA reports endorsed, 103

      • Reports on Observance of Standards and Codes (ROSCs), 100

      • review, 104

      • review, 2005, 104

      • standards and codes, 99–100

      • stress tests, 99

      • surveillance, 99, 105, 106, 107

      • updates, 105

      • World Bank, collaboration with, 99, 100

    • First credit tranche purchase

      • elimination of payments arrears, 344

      • liberal Fund attitude, 299

      • reasonable efforts test, 299, 344

    • First credit tranche stand-by arrangements phasing and performance clauses omitted, 299

    • Fiscal agency

      • safeguards on use of Fund resources when fiscal agent not central bank, 279

      • transfer of claims, PRGF Trust, 164

    • Foreign borrowing. See External debt

    • Forms

      • draft declaration on censure or noncooperation, 752

      • draft first letter to all Governors regarding a member’s overdue financial obligations to the Fund, 749–50

      • draft second letter to all Governors regarding a member’s overdue financial obligations to the Fund, 750–51

      • extended arrangement, 322–27

      • stand-by arrangement, 317–22

    • Framework Administered Account for Technical Assistance Activities

      • adoption of Instrument to establish, 130

      • Africa Regional Technical Assistance Centers Subaccount, 135

      • Instrument to establish, 130–34

      • investment of resources, 132

      • Pacific Financial Technical Assistance Centre Subaccount, 134

    • Freely usable currencies (euro, Japanese yen, pound sterling, U.S. dollar), 145, 153, 165, 251, 476, 697, 704

    • FSAP. See Financial Sector Assessment Program

    • Fund-Bank collaboration. See also World Bank (International Bank for Reconstruction and Development)

      • attendance at Fund Board Meetings, 628, 662

      • Financial Sector Assessment Program, 105

    • Furnishing of information to the Fund, 272, 531–39

    • G

    • GAB. See General Arrangements to Borrow

    • GATT. See General Agreement on Tariffs and Trade

    • GDDS. See General Data Dissemination System

    • General Agreement on Tariffs and Trade (GATT). See also World Trade Organization (WTO)

      • arrangement for consultation and cooperation with the Contracting Parties, 613–18

      • Fund collaboration with, 644–52, 803

      • import restrictions for balance of payments reasons, 516

      • Voluntary Declaration on Trade and Other Current Account Measures, 803

    • General Arrangements to Borrow (GAB), 455–72

      • associated borrowing arrangements, 498

      • borrowing agreement with Saudi Arabia, 474–80

      • borrowing by the Fund, guidelines, 504

      • Eleventh General Review of Quotas, 7

      • emergency financing mechanism, 288

      • interest, 441

      • letter from France’s Minister of Finance to U.S. Secretary of the Treasury, 467–70

      • participants and amounts of credit, 466

      • quotas, Eleventh General Review, 3

      • repayment by the Fund, 460–62

      • sales of currencies of members indebted to Fund, 402

      • Saudi Arabia agreement, renewal, 481

      • transferability of claims, 462, 472

      • transferability of claims under Saudi Arabia’s borrowing agreement, 472

      • use of credit arrangements for nonparticipants, 465

    • General Data Dissemination System (GDDS)

      • coverage, 578–89

      • participation, 603

      • periodicity, 588–90

      • phased approach, 576

      • purposes, 575

      • timeliness, 589

    • General Resources Account (GRA)

      • adjustment of Fund holdings of members’ currency, 433

      • designation, assessment of strength of member’s balance of payments and gross reserve position, 395

      • gold held, sale, 451

      • maintenance of value, 433

      • media payment in, 417

      • misreporting and noncomplying purchases, 272–75

      • overdue charges, 419

      • rates for computation and maintenance of value, 432

      • repayment expectation under PRGF Trust, failure to meet, 174

      • repurchase expectation, failure to meet, 283

      • rights approach, 761

      • rules, applicability to PRGF Trust administration, 175

      • sale of currencies at the request of members with outstanding purchase, 399

      • sale of SDRs by the Fund for payment for increase in quota, 406

      • special charge on overdue charges, 419

      • specification of currencies by the Fund, 395–97, 395, 400–401

      • Subsidy Account, reimbursement of administrative expenses, 780

      • transfers of SDRs instead of currencies under Article V, Section 3(f), 397

    • Gold

      • designation of SDRs, 732–33

      • gold pledge for use of ESAF Trust resources, 759–62, 762–63

      • gold pledge for use of PRGF-ESF Trust resources under rights approach, modalities, 450–51

      • harmonization of excess holdings of SDRs, 732–33

      • off-market transactions by Fund, Resolution, 813

      • ownership of gold and currency for subscriptions, 18

      • payment for repurchases, 411

      • profits, final direct distribution for developing members through Trust Fund, 772

      • Special Disbursement Account, use of proceeds of off-market sales, 814

    • Governance issues

      • Article IV consultations, 80, 82

      • coordination with bilateral donors and multilateral agencies, 83–85

      • corruption, 75, 76, 78, 79

      • HIPC Initiative, 220

      • identification of problems, 82–83

      • macroeconomic impact test for Fund involvement, 75, 81, 83

      • policy advice, 75, 77

      • role of the Fund, 85–87, 86, 87, 575, 576, 591, 592, 593

      • technical assistance, 75, 82

      • technical issues, 75, 77

      • transparency, 75, 79

      • use of Fund resources, 80–82

    • GRA. See General Resources Account

    • Grievance Committee, archives on, 604

    • Gross reserve position

      • assessment for purposes of designation plans, operational budgets, and early repurchases, 395–97, 399

    • Guidelines

      • allocation of currencies, operational budget, 400–401

      • borrowing by the Fund, 504–5

      • conditionality, 261–68, 299

      • corrective action, 150, 168, 194, 272–75, 283

      • corrective action, as referenced in extended arrangement form, 325

      • corrective action, as referenced in stand-by arrangement form, 320

      • designation plans, 394

      • early repurchases, guidelines, 407–9, 415

      • emergency assistance, natural disasters, 330

      • emergency assistance, post-conflict, 330, 336–41, 333–36

      • Fund staff collaboration with the WTO, 645–51

      • governance issues, 74–85

      • misreporting and noncomplying purchases, 272–75

      • operational budget, 394–95

      • payment of reserve assets for subscription, 19–22

      • performance criteria and phasing, relationship, 303–5

      • performance criteria with respect to external debt, 303

      • performance criteria with respect to foreign borrowing, discount rate for assessing concessionality, 310–11

      • SDR valuation basket, calculation of currency amounts, 697–99, 699–700

      • SDR valuation basket, conversion into euro of deutsche mark and French franc, 700–701

      • selection of currencies by the Fund, 395–97, 399, 400–401, 401–2

    • H

    • HIPC Initiative. See Trust for Special ESAF Operations for the Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations (ESAF-HIPC Trust); Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • Hong Kong Monetary Authority (HKMA), 484, 499

    • I

    • IBRD. See World Bank

    • IMFC. See International Monetary and Financial Committee

    • Immunities and Privileges of Specialized Agencies, United Nations Convention, 824–41

    • Immunity of archives, 604

    • Import restrictions for balance of payments reasons

      • extended arrangements, 325

      • GATT, 344

      • stand-by arrangements, 320

    • Income Position. See Burden sharing

    • Ineligibility to use Fund resources

      • declaration of ineligibility, 535, 746, 750, 752, 753–58, 763

      • extended arrangements, 325, 739

      • limitation and ineligibility under Article V, Section 5, 404

      • publicity, 690, 763

      • stand-by arrangements, 320, 739

    • Inter-American Development Bank (IDB)

      • communication regarding members’ arrears to the Fund, 747

      • exchange of documents with, 654

    • Interest

      • means of payment under Trust Fund, 771

      • PRGF loans, 153

      • PRGF-HIPC Trust, interest-free loans, 203

    • Interim Committee. See also International Monetary and Financial Committee

      • governance, 277

      • International Monetary and Financial Committee, transformation of Interim Committee into, 791–94

      • rules of procedures, 806

      • safeguards for use of Fund resources, 277

      • terms of reference, 793

    • International agencies, 652

    • International Bank for Reconstruction and Development (IBRD). See World Bank

    • International Court of Justice, 820, 836

    • International Development Association (IDA)

      • HIPC Initiative, 220, 222

      • prescribed holder of SDRs, 706

    • International Financial Statistics (IFS), 63

    • International Fund for Agricultural Development (IFAD)

      • prescribed holders of SDRs, 706

    • International Monetary and Financial Committee (IMFC, formerly Interim Committee)

      • participation of Executive Directors in meetings, 792

      • participation of Managing Director in meetings, 792

      • procedures, 793–94

      • terms of reference, 793

    • International organizations

      • transmittal of Fund documents, 652

    • Interpretation

      • Article VI, use of Fund resources for capital transfers, 259

      • Article VIII, Section 2(b), unenforceability of exchange contracts, 506–7

      • Article IX, Section 7, privilege for communications, 608–9

      • Article XII, Section 3(b)(i) and Section 3(f), appointment of directors by members having one of five largest quotas, 657

      • Article XII, Section 3(c), appointment of two additional directors, 657

      • Article XIV, Section 3, Fund representation in exceptional circumstances on withdrawal of Article XIV, Section 3 restrictions, 696

      • Articles of Agreement, 259

    • Investigation of Fund activities, cooperation procedures, 605–7

    • Investment Account

      • adoption of rules and regulations, 667

      • establishment, 667

      • guidelines for investing assets, 668–71

      • objective, 667

      • sources of assets, 668

      • termination, 668

      • transfer of currencies, 671

      • uses of income, 668

    • Islamic Development Bank (IsDB)

      • exchange of documents with, 654

      • prescribed holder of SDRs, 706

    • J

    • Japanese yen

      • freely usable currency, 770

      • weight in SDR valuation basket, 698

    • Joint Ministerial Committee on the Transfer of Real Resources to Developing Countries. See Development Committee

    • Joint Staff Assessments, 222

    • L

    • Lapse of time procedure, Fund arrangements, 327

    • Leases, definition of external debt, 306–7, 310–11

    • Lending into arrears, 347–51

      • review of policy, 351

    • Letters of intent (LOIs)

      • deletion from documents released to aid agencies, 656

      • publication, 672, 673, 682

      • side letters, 268–71

    • Limits

      • access to Extended Fund Facility, review, 354

    • Loan Account, PRGF-ESF Trust, 155, 159, 164

    • Longer-term program engagement

      • definition, 297

      • review, 294

    • M

    • Maintenance of value

      • overdue adjustments, 742

      • rates for computations, 432–34

    • Managing Director

      • authorized signatories, 666

      • consultation by member before requesting an extended arrangement, 313

      • consultation with creditors for additional borrowing for PRGF Trust Loan Account, 179

      • consultation with member on changes in exchange rate policies, 24

      • consultation with member with outstanding purchases on sale of currency, 402

      • Development Committee, participation in meetings of, 798

      • General Arrangements to Borrow, proposals for calls, 465

      • International Monetary and Financial Committee, participation in meetings of, 792

      • nondiscriminatory treatment of members, 262

      • procedures for addressing overdue financial obligations, 168–70, 170

      • SDR allocation, proposals for first basic period, 709

      • SDR allocation, proposals for fourth basic period, report of Managing Director on, 810

      • SDR allocation, proposals for third basic period, 710

      • use of Fund resources, recommendation regarding approval, 262

    • MDRI. See Multilateral Debt Relief Initiative; Multilateral Debt Relief Initiative-I Trust; Multilateral Debt Relief Initiative-II Trust

    • MEFPs. See Memoranda of economic and financial policies Memoranda of economic and financial policies, publication, 672, 673, 683

    • Military expenditure and the role of the Fund

      • Article IV consultations, 86

      • performance criteria, 87

    • Misreporting and noncomplying disbursements, PRGF-ESF Trust

      • condition, nonobservance of, 168

      • corrective action, 150

      • early repayment, 168

      • missed repurchase expectation, 690

      • prior action, accuracy of information, 176

      • repayment expectation, 193, 202

      • safeguards for use of Fund resources, 278

      • waiver of applicability or for nonobservance of performance criteria, 177

      • waiver of early repayment, 169

    • Misreporting and noncomplying purchases, General Resources Account

      • corrective action, 272–75

      • performance criteria or other conditions, accuracy of information, 272, 282–83, 276

      • prior actions, accuracy of information, 276

      • publication of cases, 690

      • safeguards for use of Fund resources, 277–82

      • waivers, 273

    • Misreporting and noncomplying purchases, Policy Support Instrument (PSI)

      • corrective action, 138

    • Misreporting in de minimis cases

      • Article VIII, Section 5, 537

      • de minimis, definition, 275

      • General Resources Account, 274

      • Policy Support Instrument, 139

      • PRGF and ESF Trust, 169

      • Special PRGF Operations for HIPC, 201

    • Moral hazard, 288, 339, 359, 371, 378

    • Multilateral Debt Relief Initiative (MDRI)

      • proposed decisions, 231

      • qualification of non-HIPCs, 231

    • Multilateral Debt Relief Initiative-I (MDRI-I) Trust

      • administration, 240

      • amendment, 242

      • completion point, 235

      • decision point, 235

      • eligibility, 237

      • instrument to establish, 235

      • investment of resources, 241

      • media of payment of contributions, 237

      • purposes, 236

      • unit of account, 237

    • Multilateral Debt Relief Initiative-II (MDRI-II) Trust

      • administration, 247

      • amendment, 249

      • completion point, 243

      • decision point, 243

      • eligibility, 245

      • instrument to establish, 242

      • investment of resources, 248

      • liquidation, 248

      • media of payment of contributions, 244

      • purposes, 243

      • unit of account, 244

    • Multiple currency practices

      • approval, 24, 527

      • approval criteria, when imposed for balance of payments reasons, 515, 529

      • approval criteria, when imposed for non-balance of payments reasons, 515

      • Article IV consultations, 530

      • balance of payments reasons, 521, 529

      • capital transactions, 530

      • consultation with Fund prior to changes, 520, 521, 522

      • discrimination, 529

      • exchange taxes, 526

      • jurisdiction of the Fund, 523

      • nonbalance of payments reasons, 529

      • non-balance of payments reasons, 521

      • official action, 528, 529

      • policy in 1947, 519–26

      • policy in 1957, 526

      • policy in 1998, 528–30

      • simplification of complex rate systems, 527

      • spread, 528

      • statement to members transmitting Funds decisions, 519

      • unification of exchange rates as basic Fund objectives, 526

    • Multi-year rescheduling arrangements (MYRAs) enhanced surveillance and, 96

    • MYRAs. See Multi-year rescheduling arrangements

    • N

    • NAB. See New Arrangements to Borrow

    • Natural disasters, emergency assistance, 330, 331–33

    • New Arrangements to Borrow (NAB), 482–500

      • credit arrangements, 484

      • Eleventh General Review of Quotas, 7

      • entry into force, 486

      • Hong Kong Monetary Authority, 484, 498

      • meeting of participants, 500

      • nonparticipants, 487

      • participants, 486, 499

      • relationship with the GAB and associated borrowing arrangements, 497

      • transferability of claims, 494, 501–2

    • Noncooperation draft declaration, 747

    • Nondiscriminatory treatment of members

      • Paris Club, 93

      • Use of Fund resources, 261

    • Nordic Investment Bank

      • prescribed holder of SDRs, 706

    • O

    • Observer status in the Fund

      • European Central Bank, 643–44

      • World Bank, 628, 629–32

      • World Trade Organization, 644, 854

    • Observer status of the Fund

      • World Bank, 628

      • World Trade Organization, 854

    • OECD. See Organization for Economic Cooperation and Development

    • Official clearing and payments arrangements

      • temporary exemption from three-month settlement rule, 510

    • Offshore financial centers (OFCs), 117

      • assessment program, 116–19

      • inclusion in FSAP reports, 102

      • publication of reports, 118

    • Operational budgets

      • assessment of strength of member’s balance of payments and gross reserve position, 394

      • guidelines for operational budget allocation of currencies, review, 400

      • specification of currencies by the Fund, 400, 401

      • transfers of SDRs under Article V, Section 3(f), 397

    • Organization for Economic Cooperation and Development (OECD)

      • concessional external loans, definition, 307, 308

      • exchange of documents, 655

    • Overdue financial obligations to the Fund. See also Rights accumulation programs; Rights approach

      • accounting charges, 417

      • Annual Report (IMF), 745

      • complaint by Managing Director, 745

      • compulsory withdrawal, 747, 748, 753, 754

      • declaration of censure, 747, 752

      • declaration of ineligibility, 746, 752, 753, 754, 755, 763

      • declaration of noncooperation, 748, 752, 754, 763

      • de-escalation of remedial measures, 764

      • draft first letter to all Governors, 749–50

      • draft second letter to all Governors, 750–51

      • Eleventh General Review of Quotas, 3

      • ESAF, no access, 741–42

      • ESF arrangement, nonapproval, 150

      • extended arrangements and, 320, 740

      • Ninth General Review of Quotas, 746, 756

      • nontoleration of arrears to official creditors, 345

      • overdue maintenance of value adjustments, 742

      • Overseas Economic Cooperation Fund (OECF), 310

      • preferred creditor status of Fund, 742–48, 742, 743, 752, 755

      • prevention/deterrence measures, strengthened timetable of procedures, 757

      • PRGF arrangement, nonapproval, 150

      • PSI, nonapproval, 135

      • requests for the use of Fund resources under a stand-by or extended arrangements, management will not submit, 740

      • review of Fund strategy, 767

      • review period, 741

      • SAF, no access, 741

      • setoff in connection with retroactive reduction of charges, 421

      • special charges, 419

      • stand-by arrangements and, 320, 740

      • strengthened cooperative strategy, 753–58, 762–63, 763–64

      • suspension of voting rights, 756, 758

      • technical assistance suspension, 766

    • Overdue payments to the Fund. See Overdue financial obligations to the Fund

    • P

    • Paris Club

      • Agreed Minute, 93

      • debt rescheduling and Fund arrangements or programs, 755

      • debtors’ negotiations with, 93

      • PRGF qualification for assistance, 197

      • rescheduling discussions, 655

      • rescheduling in the absence of Fund arrangement, 755

      • rescheduling operations, Fund opposition to matching, 340

      • settlement of disputes between Fund members and Fund neutrality, 94

    • Payments arrears of a member to other (non-Fund) creditors

      • Fund lending into nonsovereign arrears, 345–51

      • Fund lending into sovereign arrears, 345–51

      • Fund policies and procedures, 345–51

      • performance criteria, 343

    • Payments arrears to the Fund. See Overdue financial obligations to the Fund

    • Payments arrears, capital transfers. See Capital transfers

    • Payments arrears, member’s failure to provide foreign exchange for current international transactions. See Exchange restrictions

    • Payments arrears, settlement of disputes between members, 92

    • Payments restrictions. See Exchange restrictions

    • Performance criteria under Fund arrangements

      • accuracy of information, 276

      • conditionality guidelines, 261

      • coverage initially, 304

      • definition, 265

      • external debt, guidelines on coverage of debt limits, 305–10

      • first credit tranche, not subject to, 299

      • foreign borrowing, guidelines on calculation of discount rate, 306, 308

      • number and content of, 265

      • omitted in stand-by arrangements within first credit tranche, 299

      • phasing, relationship, 303–5

      • reporting lag, 303

      • reporting on implementation, confidentiality relating to, 272

      • side letters, 272

      • test dates, even distribution, 304

      • waiver for nonobservance, 168, 267, 273, 276

      • waiver of applicability, 168, 267, 276

    • Phasing and performance criteria under Fund arrangements omitted in stand-by arrangements within first credit tranche, 298

      • relationship, 303

    • PINs. See Public Information Notices

    • Policy framework papers. See also Poverty Reduction Strategy Papers

    • Policy Support Instrument (PSI), 135–41

      • application of Guidelines on Conditionality, 140

      • arrears, 140

      • assessment criteria, 137

      • definition, 135

      • documents required, 136

      • eligibility, 135, 136

      • implementation, 137

      • misreporting, 138

      • poverty reduction strategy documents, 136

      • publication policies, 672

      • relationship to Post-Program Monitoring, 292

      • review, 141

      • side letters, 140

      • termination, 140

    • Position in the Fund, 399

    • Position in the Fund, defined, 396

    • Post-conflict emergency assistance, 215, 218, 249, 329–30, 333–36, 336–41

    • Post-Conflict Emergency Assistance Subsidy Account for PRGF-Eligible Members

      • administration, 253

      • establishment, 249

      • fees, none, 254

      • instrument to establish, 249–55

      • investment of resources, 252

      • purpose, 250

      • rate of charge subsidy, 252

      • resources, 250

      • SDRs, use of, 255

      • settlement of questions, 255

      • termination, 254

      • use of resources, 252

    • Post-Program Monitoring

      • applicability, 292

      • Article IV consultation, 292

      • publication policies, 293

      • relationship to Policy Support Instrument, 292

    • Post-SCA-2 Administered Account

      • adoption of Instrument to establish, 256

      • instrument to establish, 256–58

    • Pound sterling

      • freely usable currency, 770

      • weight in SDR valuation basket, 698

    • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust. See also Enhanced Structural Adjustment Facility (ESAF) Trust; Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

      • access limits, review, 178

      • administration of, 165–66

      • amendment of, 167

      • benchmarks, 148

      • contributions, value date for operations and transactions, 179

      • cost of administration, 452

      • decision waiving the applicability of a performance criterion, 177

      • declaration of noncooperation, 172

      • electing lenders, 164

      • establishment, adoption of Instrument, 142

      • freely usable currency, 145, 153, 165

      • investment of resources, 166

      • liquidation, 167

      • Loan Account, 154, 179

      • media of payment, 145

      • misreporting and noncomplying disbursements, 153, 168–70

      • modalities of gold pledge under rights approach, 450

      • other provisions, 173

      • overdue financial obligation, 150

      • period of operation and liquidation, 167

      • post-SCA-2 Administered Account, 257

      • Poverty Reduction Strategy Papers (PRSPs), 149, 187

      • prior actions, accuracy of information, 176

      • proposed decisions, 231

      • purposes, 144

      • removal from eligibility, 172

      • repayment expectation, 169, 174

      • Reserve Account, 144, 155, 160, 161–62

      • Reserve Account, transfer to the PRGF-HIPC Trust, 163

      • simultaneous access to PRGF and ESF not permitted, 150

      • Special Disbursement Account, transfers from or to, 162, 163

      • Subsidy Account, 156, 159

      • transfer or claims, 163–65

      • transformation of ESAF to PRGF, 174–76

      • unit of account, SDR, 144

      • waiver of performance criteria, accuracy of information, 176–77

    • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust loans

      • access, 151

      • adjustment program, 146, 151

      • balance of payments need, 151

      • benchmarks, 146

      • commitment period, 146, 150, 153, 154, 177

      • eligibility and conditions for assistance, 145

      • interest, 152, 153, 154, 155, 158

      • misreporting and noncomplying disbursements, 153, 168

      • overdue financial obligations to PRGF Trust, 170

      • overdue financial obligations to the Fund, 150

      • performance criteria, 148, 168, 169, 176, 184

      • performance criteria, accuracy of information, 176–77

      • phasing of disbursements, 146, 148

      • prior action, accuracy of information, 176

      • protracted balance of payments problem, 147

      • publication policies relating to, 189

      • repayment expectation, 150, 169, 174

      • rephasing, 152

      • repurchase expectation, 150

      • rescheduling of loan repayments not possible, 153

      • reviews under arrangements, 149, 151, 172

      • structural reforms, 146, 149

      • waiver of applicability or for nonobservance of performance criterion, 168, 176

      • waiver, early repayment, 169

    • Poverty Reduction Strategy (PRS). See also Poverty Reduction Strategy Papers (PRSPs)

      • conflict-affected states, special requirements, 230

      • goals, 228

      • Millennium Development Goals (MDGs), achievement of, 228

      • Policy Support Instrument requirements, 136

      • review, 227

    • Poverty Reduction Strategy Papers (PRSPs). See also Poverty Reduction Strategy (PRS)

      • core principles, 227

      • definition, 193

      • progress, 221

      • publication policies relating to, 672, 673, 676, 680

      • role in HIPC initiative, 187, 188, 197

      • role in PSI operations, 136

    • Preferred creditor status of Fund, 214, 339, 743, 752, 755

    • Press Notices. See Public Information Notices

    • PRGF. See Poverty Reduction and Growth Facility

    • PRGF-ESF Trust. See Poverty Reduction and Growth Facility and Exogenous Shocks Facility Trust

    • Prior actions

      • accuracy of information regarding implementation, 276

      • definition, 265

      • implementation under PRGF, 176

      • reporting on implementation, confidentiality relating to, 271

      • side letters, 272

      • use in emergency financing mechanism, 290

      • use in enhanced structural adjustment facility, 184

      • use in Policy Support Instrument, 138

    • Program Reviews, 265

    • Prolonged use of Fund resources

      • assessment, 293

      • definition, 294

      • precautionary arrangements, 294

    • Prolonged use of Fund Resources

      • Article IV consultations, 293

    • Protracted balance of payments problem, 147, 231, 438

    • PSI. See Policy Support Instrument

    • Public Information Notices (PINs)

      • Article IV consultation, 677, 679, 680, 682

      • member’s consent, 678

      • presumed publication, 684

      • use of Fund resources, Chairman’s Statement in lieu of PIN, 676, 678

    • Publication

      • Article IV and combined Article IV/Use of Fund Resources staff reports, 672, 681

      • Article IV consultation background reports, 677

      • Article IV consultation staff reports, pilot project, 691

      • Article IV staff reports, 681

      • Chairman’s statements, use of Fund resources, 678, 682

      • deletions prior to publication, 674, 675

      • Financial System Stability Assessment (FSSA) Reports, 682

      • Fund policy documents, 672, 675, 678, 683

      • HIPC Initiative, preliminary, decision point, and completion point documents, 672, 673, 682

      • Interim Poverty Reduction Strategy Papers (I-PRSPs), PRSPs, PRSP Preparation Status Reports, and Annual Progress Reports (APRs) in the context of PSIs, 673, 674, 683

      • Joint Fund/World Bank Staff Advisory Notes on Interim PRSPs, PRSPs, PRSP Preparation Status Reports, and APRs, 672, 673, 682

      • Letters of Intent, 672, 683, 684

      • Letters of Intent (LOIs)/Memoranda of Economic and Financial Policies (MEFPs) for Policy Support Instruments (PSIs), 672, 683

      • Letters of Intent (LOIs)/Memoranda of Economic and Financial Policies (MEFPs) for staff-monitored programs (SMPs), 672, 683

      • member’s statement regarding Fund staff report, 674

      • Memoranda of Economic and Financial Policies (MEFPs), 673, 683

      • overdue financial obligations to PRGF Trust, 171

      • overdue financial obligations to the Fund, 682

      • PINs following Article IV consultations, 672, 679, 680, 682

      • PINs following Executive Board discussions on policy issues, 672, 683

      • PINs following Executive Board discussions on post-program monitoring, 672, 682

      • PINs on use of Fund resources, 685

      • Policy Support Instrument documents, 672, 676, 683

      • Poverty Reduction Strategy Papers (PRSPs), 672

      • publication policies of the Fund, 672–81

      • Recent Economic Development reports (REDs), Article IV consultations, 680

      • removal from list of PRGF-eligible countries, 172

      • Reports on Observance of Standards and Codes (ROSCs), 672, 674, 682

      • repurchase expectations, failure to meet, 689

      • staff reports on staff-monitored programs, stand-alone, 672, 683

      • staff-monitored programs, presumption of publication, 48

      • statistical appendices and annexes, Article IV consultations, 680

      • suspension of voting rights and termination of suspension, 690

      • Technical Memoranda of Economic and Financial Policies, 672, 677, 682

      • use of Fund resources, Chairman’s Statement, 672, 674

      • use of Fund resources, Post-Program Monitoring and Ex Post Assessment Staff Reports, 672, 682

      • waivers of applicability or for nonobservance of performance criteria, 676

    • Purchase transactions. See Reserve tranche purchases; Use of Fund resources

      • resumption of purchases under extended arrangement after decision of formal ineligibility, 325

      • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 320

      • suspension of transactions under extended arrangement, 325

      • suspension of transactions under stand-by arrangement, 320

      • temporary suspension under Article XXVII, effect on GAB, 463

      • temporary suspension under Article XXVII, effect on NAB, 479

    • Q

    • Quotas

      • ad hoc increases, 21

      • adjustment, first interval of five years, 3

      • Eleventh General Review, 3

      • Eleventh General Review, increases of quotas, new period of consent, 15, 16

      • Eleventh General Review, Report of the Executive Board, 3

      • Eleventh General Review, Resolution, 10–12

      • new period for receipt of consents to quota increases, 15

      • Ninth General Review, 8, 9, 12, 756

      • payments of reserve assets in connection with subscription, 19

      • sales of SDRs by Fund to members for quota payments, 406

      • Seventh General Review, 20, 406, 714, 717, 719, 734

      • Sixth General Review, 20

      • Tenth General Review, 4

      • Twelfth General Review, report to Board of Governors and proposed resolution, 17

      • voting power and adjustment of quotas, 658

    • R

    • Recent Economic Developments reports (REDs)

      • balance of payments consultations, WTO, 646

      • no longer included in Article IV consultation documentation, 38

      • publication, 680

      • transmittal to multilateral agencies, 646, 650, 652

    • Reconstitution of SDRs

      • abrogation of rules, 736

    • REDs. See Recent Economic Developments reports (REDs);

      • Article IV consultations

    • Repayment expectations, PRGF Trust, 150, 169, 174, 193, 202

    • Reports on Observance of Standards and Codes (ROSCs)

      • anti-money laundering initiatives, 117, 120, 125

      • assessment procedures, 121

      • no longer circulated to Executive Directors in hard copy form, 115

      • principle of uniformity, 123

      • publication policies, 672, 673, 680, 682

      • reports on observance associated with FATF-led assessments generally not designated as ROSCs, 123

      • surveillance, 56, 64

    • Repurchase expectations

      • attribution of reduction of currency, 414

      • Compensatory Financing Facility, 407

      • failure to meet and extended arrangements, 274, 283, 325, 410

      • failure to meet and PRGF-ESF Trust, 171

      • failure to meet and stand-by arrangements, 283, 320, 410

      • failure to meet under Supplemental Reserve Facility, 379

      • misreporting and noncomplying purchases, 272–75, 283

      • overcompensation in Compensatory Financing Facility (CFF), 386, 392

      • publication of failure to meet, 688

      • Supplemental Reserve Facility, 377

      • time-based repurchase expectations in credit tranches, EFF, and CFF, 412

    • Repurchases. See also Repurchase expectations

      • access policy, 354–56

      • assessment of strength of members’ balance of payments and gross reserve position, 394

      • attribution of reductions in Fund’s holdings of currencies, 414–15

      • Compensatory Financing Facility, 386, 387, 390, 409

      • credit tranches, 409

      • currencies of other members, 410

      • early repurchases, guidelines, 412–14

      • emergency assistance, 409

      • extended arrangements, 315, 355

      • gold, acceptance in payment, 411

      • gold, obligation to pay, 410, 412

      • overcompensation under CFF, legal interpretation, 386, 392

      • overdue, 413

      • periods, 409

      • procedures, 409

      • purchases under credit tranches and CFF, 409

      • Schedule B, 410, 411

      • SDRs, 411

      • selection of currencies by Fund, 396, 398, 401

      • special charges on overdue repurchases, 409–11

      • stand-by arrangements, 355

      • timing of repurchases within a calendar month, 409

    • Reserve Account of PRGF-ESF Trust

      • resources, 161

    • Reserve assets

      • payment in connection with subscriptions, 19

      • SDR allocation, 710, 811

      • SDR as principal reserve asset, 811

    • Reserve currency and specification of currencies, 395

    • Reserve position, gross

      • assessment for purposes of designation plans, operational budgets, and early repurchases, 394

      • SDDS reporting, 396, 539

      • specification of currencies, 395

    • Reserve tranche position

      • administrative accounts, 769

      • attribution of reductions in Fund’s holdings of currencies, 396, 414, 415

      • balances held in Administrative Account, 769

      • definition, 396

      • Eleventh General Review of Quotas, 10

      • extended arrangements, 768

      • remunerated position, 21

    • Reserve tranche purchases, exclusion of purchases and holdings

      • Compensatory Financing Facility, 381

      • credit tranches, 768

      • emergency assistance, 330

      • extended arrangements, 768

      • General Arrangements to Borrow, 460

      • New Arrangements to Borrow, 477, 493

      • Supplemental Reserve Facility, 379, 380, 769

    • Resolutions. See Board of Governors Resolutions

    • Restrictions. See Exchange restrictions

    • Retention quotas, 510–12

    • Reviews under Fund arrangements

      • ESF arrangement, 151

      • extended arrangement, 322

      • PRGF arrangement, 150, 151, 152

      • stand-by arrangement, 317

    • Revolving character of the Fund’s resources, 333, 355

    • Rights accumulation programs, 285, 759, 762, 764 gold pledge, 761

    • Rights approach

      • arrears to the Fund, reduction, 759

      • gold pledge, 759

      • modalities of gold pledge for use of PRGF Trust resources, 450, 759

      • operational modalities, 759

      • PRGF-HIPC Trust eligibility, 196

      • PRGF-HIPC Trust qualification, 197

      • three-year period norm, 759

    • ROSCs. See Reports on Observance of Standards and Codes

    • Rules and Regulations

      • rate of charge, 379

      • Rule G-1, fiscal agency, 462, 494

      • Rule G-4, request for a purchase, 404

      • Rule I-10, rate of remuneration, 425, 428

      • Rule I-6(4) (a), 425, 428

      • Rule I-6(4) (a), rate of charge, 426

      • Rule I-6(4)(b), 425, 428, 429

      • Rule I-6(4), rate of charge, 379, 416, 418, 421, 425, 778

      • Rule I-6, rate of charge(4), 428

      • Rule K-1, 612

      • Rule O-1, value of SDR, 700

      • Rule O-10, operational budget, 397

      • Rule O-2(a), 700

      • Rule O-2, valuation of currencies in terms of SDRs, 433, 462, 479, 494, 700, 720, 721, 723, 725, 727

      • Rule P-7, prescribed operation, 721, 723, 724, 726, 728, 729, 730

      • Rule P-9, recording of SDR transactions, 255, 706, 707, 708, 721, 723, 725, 727, 728, 729, 730

      • Rule R-1 through Rule R-6, rules for reconstitution (abrogated), 736

      • Rule T-1, interest and charges in respect of SDR, 165, 427

    • S

    • SAF. See Structural Adjustment Facility

    • Safeguards assessment process

      • audits, 278, 280, 281

      • confidentiality, 280, 287

      • distinction between first and second stages no longer applicable, 286

      • first stage, 280, 286

      • information/documents to obtain from central banks, 281

      • reports to remain confidential, 284

      • review, 281

      • second stage, 280, 286

    • Safeguards, use of Fund resources

      • benchmarks based on Code of Good Practices on Transparancy in Monetary and Financial Policies, 279

      • publication of audited central bank financial statements, 280

    • Sales of currencies of members indebted to the Fund

      • sale of currencies at the request of members with outstanding purchases, 403

    • Saudi Arabia

      • borrowing agreement, 472

    • Schedule B, transitional provisions, 20, 410, 411

    • Schedule F, designation, 732

    • Schedule G, paragraph 1(a), reconstitution, 736

    • Schedule J, settlement of accounts with withdrawing members, 463, 479, 495

    • Schedule K, administration of liquidation, 463, 479, 495

    • Schedule L, suspension of voting rights, 792

    • SDA. See Special Disbursement Account

    • SDDS. See Special Data Dissemination Standard

    • SDRs. See Special drawing rights

    • Second Amendment

      • Article IV (surveillance over exchange rate policies), 20

      • compensatory financing repurchase obligation, 393

      • payment of reserve assets in connection with subscription, 19

      • repurchase under Schedule B, 410

      • surveillance over exchange rate policies, 20

    • Security reasons, exchange restrictions for, 508

    • Settlement of disputes between members relating to external debt comparable treatment of creditors, 93

      • Paris Club, 93

      • role of the Fund, 91–94

    • SFF. See Supplementary Financing Facility

    • Side letters, use of Fund resources, 268–71

    • Sovereign default, 288, 345

    • Special Contingent Account. See also Burden sharing additions to, 741–42

    • Special Data Dissemination Standard (SDDS). See Dissemination Standards Bulletin Board

      • access by the public, 540

      • balance-sheet approach, 62

      • debt sustainability assessments, 63

      • liquidity management, 62

      • scope and operational characteristics, 541

    • Special Disbursement Account (SDA)

      • ESAF-HIPC Trust, 208

      • investment, 435

      • PRGF-HIPC Trust, 193, 206

      • repayment expectation under PRGF Trust, failure to meet, 174

      • Structural Adjustment Facility administration, 436

      • termination and transfer of resources from Trust Fund, 772

      • termination of assistance from SAF in conjunction with loans from ESAF Trust, 449

      • transfer of resources to the ESAF Trust and retransfer to the SDA, 447

      • transfers to PRGF-HIPC Trust account, 177

    • Special drawing rights (SDRs)

      • allocation for first basic period, 709

      • allocation for fourth basic period, report of Managing Director, 811

      • allocation for third basic period, 710

      • allocations to new participants, third basic period, 715

      • contributions to PRGF-HIPC Trust, 196

      • currency reference rates, 699

      • currency weights, 698

      • designation review rules, 731

      • designation rules, revision, 734

      • euro, weight in valuation basket, 698

      • harmonization of holdings, 396, 732

      • holders prescribed by the Fund

        • African Development Bank, 706

        • African Development Fund, 706

        • Andean Reserve Fund, 705

        • Arab Monetary Fund, 706

      • Asian Development Bank, 706

      • Bank for International Settlements, 705

      • Bank of Central African States, 706

      • Central Bank of West African States, 706

      • East African Development Bank, 706

      • East Caribbean Currency Authority, 706

      • Eastern Caribbean Central Bank, 706

      • European Central Bank, 706

      • International Bank for Reconstruction and Development (World Bank), 706

      • International Development Association, 706

      • International Fund for Agricultural Development, 706

      • Islamic Development Bank, 706

      • Nordic Investment Bank, 706

    • Japanese yen, weight in valuation basket, 698

    • means of repayment by members on indebtedness under loan agreements, 771

    • media of payment for charges in GRA, 417

    • other holders, acceptance, holding or use, 702

    • payment of net charges and assessment in the SDR Department for FY ended April 30, 1982, 737

    • payment of subscriptions, 19

    • pound sterling, weight in valuation basket, 698

    • PRGF-ESF Trust unit of account and media of payment, 144

    • PRGF-HIPC Trust unit of account and media of payment, 195

    • reconstitution, abrogation of rules, 736

    • reserve asset payments, 10, 19

    • sales by the Fund for payment of subscriptions, 19

    • sales by the Fund for the payment of charges, 417

    • terms and conditions for accepting, holding, or using SDRs, 702

    • transfers of SDRs for payment of subscription under Article V, Section 6(b), 395

    • transfers of SDRs for purchases under Article V, Section 3 (f), 397

    • U.S. dollar, weight in valuation basket, 698

    • use in donations, 730

    • use in ESAF Trust operations or under an administered acount, 707

    • use in forward operations, 729

    • use in loans, 723

      • use in payment of Trust Fund obligations, 657, 771

      • use in pledges, 723

      • use in PRGF loans, 153

      • use in PRGF-HIPC Trust operations or under an administered account, 708

      • use in repurchases, 409

      • use in settlement of financial obligations, 720

      • use in Structural Adjustment Facility operations, 707

      • use in subsidy payment from SFF Subsidy Account, 706

      • use in swap operations, 727

      • use in transfers as security for the performance of financial obligations, 725

      • valuation basket, guidelines for calculation of currency amounts, 697

      • valuation basket, guidelines for calculation of currency amounts, revised guidelines, 697

      • valuation of US dollar for purposes of Rule O-2(a), 700

      • value of SDR, method of collecting exchange rates for calculation for purposes of Rule O-2(a), 700

    • Specification of currencies, 395–97, 401

      • harmonization, 396

    • SRF. See Supplemental Reserve Facility

    • Staff reports on Article IV consultations. See also Surveillance; Enhanced surveillance

      • document exchange with WTO, 652

      • military expenditure, 85

      • presumed publication, 684

      • publication, 672, 674, 677

      • transmittal to international agencies, 652, 654

    • Staff reports on enhanced surveillance

      • transmittal by members to creditors, 38–39, 88, 97, 111

    • Staff reports on use of Fund resources and post-program monitoring

      • publication policy, 684

    • Staff-monitored programs (SMPs), 47

    • Standards and Codes. See also Financial Sector Assessment Program; Reports on Observance of Standards and Codes; and Special Data Dissemination Standard (SDDS)

    • Stand-by arrangements. See also Access policy, use of Fund resources; Use of Fund resources

      • access to credit tranches, normally through, 298

      • arrangements not international agreements, 264

      • Compensatory Financing Facility, 320

      • conditionality guidelines, 261

      • consultation clauses, 264, 320

      • Contingent Credit Lines, 320

      • contractual connotation avoidance, 264

      • debt- and debt-service-reduction operations, 320

      • duration, normal, 298

      • emergency purchases and, 332, 336

      • first credit tranche, 299

      • form, standard, 317

      • Guidelines on Corrective Action, 320

      • indicative targets, 305

      • ineligibility, 321, 740

      • misreporting and noncomplying purchases, 272–75, 276

      • noncomplying purchases, 274, 320

      • nondiscriminatory treatment of members, 262

      • overdue financial obligations to the Fund, 320, 739

      • performance criteria and phasing of purchases, relationship, 303

      • performance criteria with respect to external debt, 306, 310, 319

      • performance criteria, accuracy of information, 276

      • period for, 298

      • phasing, 298, 299

      • policies and procedures, 299

      • PRGF-HIPC Trust eligibility, 196

      • PRGF-HIPC Trust qualification, 197

      • prior actions, accuracy of information, 276

      • program evaluation, 268

      • repayment expectation under PRGF Trust, 320

      • repayment obligations under PRGF Trust, 320

      • repurchase, 321

      • repurchase expectation, 273, 274, 321

      • reserve tranche purchases, 768

      • review, 317

      • Supplemental Reserve Facility and, 320

      • suspension of right to engage in transactions, 320

      • test dates, 304

      • uniform treatment of members, 262

      • waiver for nonobservance of performance criteria, 273, 276

      • waiver of applicability of performance criteria, 276

    • Strengthened cooperative strategy

      • de-escalation of remedial measures, 764

      • extension of deadline to enter a rights accumulation program, 763

      • procedures, 753

      • reversibility of actions, 763

    • Structural Adjustment Facility (SAF)

      • access, potential, 438, 443

      • amounts of assistance, 437

      • commitment period, 438

      • commitment period, new, 443

      • disbursements, 439, 442

      • eligible members list, 443

      • income from investment and loans, 447

      • interest, 440

      • loans under Enhanced Structural Adjustment Facility (ESAF), 441

      • protracted balance of payments problem, 231, 438

      • purposes, 437

      • qualification for assistance, 438

      • resources, 437

      • review, 446

      • SDRs, use in operations, 443, 707, 708

      • terms of loans, 440

    • Subscriptions. See also Quotas

      • accounting by members, 18

      • ownership of gold and currency, 18

      • reserve asset payments, 19–22

    • Subsidy Account. See Supplementary Financing Facility Subsidy Account

    • Summings up and concluding remarks for policy items review and finalization process, 35

    • Supplemental Reserve Facility (SRF)

      • availability through stand-by or extended arrangement), 378

      • commitment period, 378

      • contagion risk, 377

      • exchange rate for payment of subsidies, 802

      • overdue financial obligations, 150, 320, 325

      • phasing, 378

      • rate of charge, 380

      • repurchase, 379

      • repurchase expectation, 379

      • repurchases, installment periods, 379

      • reserve tranche purchase, exclusion, 379

      • sudden and disruptive loss of market confidence test, 377

    • Supplementary Financing Facility (SFF) Subsidy Account, 775

      • additional subsidy payments for May 1–June 30, 1990 and subsidy payments for July 1, 1990–June 30, 1991, 783

      • eligible members, 777

      • instrument to establishment, 774

      • investment, 776

      • means of subsidy payments, 782

      • rescheduling in cases of serious hardship, 773

      • resources, 775

      • SDRs, use of, 706

      • subsidy amount, 777

      • suspension of transfers and re-transfer of surplus, 782

      • transfer from Special Disbursement Account, 775, 776, 782

    • Suppliers’ credits, coverage in external debt limits, 306, 308

    • Surveillance. See also Article IV consultations; Enhanced surveillance

      • architecture of international financial system, 40

      • balance-sheet analysis, 63

      • Bilateral surveillance over members’ policies, 24

      • bilateral surveillance, 2007 decision, 24

      • bilateral, 2007 decision, transitional issues, 37

      • capital flows, 44

      • Central African Economic and Monetary Union, 69

      • communication, 58

      • consultation cycles, changes, 50

      • coverage principles, 44

      • data provision, 60

      • Eastern Caribbean Currency Union, 71

      • Euro-Area, 66, 68

      • extension of theree-month period, 65

      • external evaluation, 40

      • financial sector soundness and vulnerability, 41

      • policy dialogue with country authorities, 53

      • principles for the guidance of members’ policies, 29

      • principles for the guidance of the Fund, 26

      • procedures, 31, 47

      • publicity, 690

      • review of general implementation, two-year intervals, 40, 48

      • ROSCs, 61, 64

      • signaling, 58

      • Special Data Dissemination Standard, 63

      • staff-monitored programs, 47

      • three-month rule, 65

      • timetable of procedures, 742

      • use of staff resources, 60

      • West African Economic and Monetary Union, 72

    • Suspension of membership, 748

    • Suspension of voting rights

      • participation in International Monetary and Financial Committee, 792

    • Swiss National Bank

      • GAB participant, 466, 471

      • NAB participant, 500

    • T

    • Technical assistance

      • cooperation with Trusteeship Council, 820

      • exchange rate system simplification, 527

      • Framework Administered Account for, 130

      • members not cooperating with the Fund, 747, 748

      • post-conflict countries, 334

      • transmittal of reports to international agencies, 652

    • Terrorism financing. See Combating the Financing of Terrorism

    • Trade. See also World Trade Organization

      • structural maladjustments in trade, Extended Fund Facility, 312

      • Trade Integration Mechanism, 375

      • trade-related balance of payments adjustments, 375

    • Trade Integration Mechanism, 375

    • Trade restrictions

      • avoidance of escalation, 518, 803

      • emergency assistance, 330, 333

      • ESAF, 184

      • import restrictions for balance of payments reasons, extended arrangements, 325

      • import restrictions for balance of payments reasons, GATT, 516

      • import restrictions for balance of payments reasons, stand-by arrangements, 320

      • WTO involvement, 645

    • Tranche policies

      • application in connection with CFF, 381

      • first credit tranche, 299

      • floating tranche, 267

    • Transferability of claims

      • General Arrangements to Borrow, 470, 472

      • New Arrangements to Borrow, 494

      • Saudi Arabia, borrowing agreement with, 472

    • Transparency. See also Publication

      • foreign reserves management, 279

      • governance, 75

      • safeguards for use of Fund resources, 280

      • use of Fund resources, 672

    • Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

      • administration of, 204

      • amendment of, 207

      • Annual Progress Report (APR), 194

      • assistance amount, 199

      • completion point, 192, 200, 201, 202, 203, 213, 215, 216

      • contributions by other donors, 208

      • contributions to, 244

      • debt sustainability, 192, 197, 199, 202, 203, 214, 215, 223

      • debt sustainability analysis, 192

      • debt-to-exports ratio, 193, 202, 217

      • debt-to-revenue ratio, 193

      • decision point, 192, 197, 199, 200, 212, 215, 219, 223, 224

      • eligibility, 196, 223

      • grace period on loans, 203

      • grants and loans, 196

      • Guidelines on Misreporting, 194

      • implementation, progress, 214–19

      • implementation, review, 219–23

      • instrument to establish, 191–207

      • instrument to establish, adoption of, 190

      • interest, 193, 203

      • interim assistance, 200

      • Interim Poverty Reduction Strategy Papers (I-PRSPs), 187, 194, 221, 222

      • Interim Poverty Reduction Strategy Papers (I-PRSPs), publication, 672

      • investment of resources, 195, 206, 208

      • Joint Staff Advisory Note (JSAN), 194

      • liquidation, 206

      • maturity of loans, 203

      • operation and liquidation, 206

      • Paris Club, 193, 197, 199, 215, 216, 221, 225, 226

      • performance-related conditions, 201, 209

      • Poverty and Social Impact Analysis (PSIA), 188, 229

      • Poverty Reduction Strategy Papers (PRSPs), 187, 193, 197, 216, 219, 227

      • purposes, 194

      • qualification for assistance, 197

      • rescheduling of payments not allowed, 203

      • retransfers authorized, 209

      • SDRs, use in operations, 206, 708

      • self-sustained operations, 193, 206, 219

      • special charges on overdue interest and repayments, 419

      • Special Disbursement Account, transfers from, 195

      • streamlining preliminary HIPC documents, 223

      • subsidies for interim PRGF operations, 204

      • terms of assistance, 202

      • track record of performance, 214, 216, 220, 223, 226

      • transformation of ESAF-HIPC Trust to PRGF-HIPC Trust, 174

      • Trust Account and resources, 195

    • Trust for Special PRGF Operations Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

      • completion point, 224

      • decision point, 224

      • eligibility and eligible members, 226

      • implementation status, 224

      • sunset clause, 207, 226

    • Trust Fund

      • final direct distribution of profits, 772

      • means of repayment by members on their indebtedness under loan agreement, 771

      • overdue interest and repayments, 419

      • SDRs, use in payment of Trust Fund obligations, 706

      • special charges on overdue financial obligations, 418, 772

      • termination and transfer of resources to Special Disbursement Account, 435, 772

      • terms of repayment of final loan disbursement and amendment of Trust instrument, 774

    • Twelfth General Review of Quotas

      • report to Board of Governors and proposed resolution, 16

    • U

    • Undue delay in availability or use of foreign exchange, 454, 516

    • Uniformity of treatment principle

      • consultation cycle, 42

      • external debt in Fund arrangements, guidelines on performance criteria, 307

      • post-conflict assistance, 339

      • settlement of disputes among members, comparable treatment, 93

      • use of Fund’s general resources, 262

    • United Nations

      • agreement with the IMF, 817–23

      • Convention on the Privileges and Immunities of the Specialized Agencies, 824–41

      • exchange of documents with, 819

      • UNDP, exchange of documents with, 654

      • Uniting for Peace General Assembly Resolution, 788

    • United States (U.S.) dollars

      • dissemination of monthly data on official reserve assets under GDDS, expressed in, 596

      • financial statements of Framework Account, expressed in, 133

      • maintenance of value, rates for computation, 433

      • means of payment by members on indebtedness under Trust Fund loan agreements, 771

      • medium of payment, loan disbursements, repayments, and interest under GAB, 441

      • medium of payment, MDRI-I Trust, 237

      • medium of payment, MDRI-II Trust, 244

      • medium of payment, PRGF-ESF Trust, 145

      • medium of payment, PRGF-HIPC Trust, 196

      • payment of special charges on overdue payments, Trust Fund loans, 420

      • payments of interest on members’ indebtedness under Trust Fund loans, 771

      • valuation in terms of special drawing rights as per Rule O-2(a), 700

      • weight in SDR valuation basket, 698

    • Use of Fund resources. See also Access policy, use of Fund resources; Charges; Compensatory Financing Facility; Conditionality; Contingent Credit Lines; Emergency assistance; Emergency financing mechanism; Extended arrangements; Extended Fund Facility; First credit tranche; General Resources Account; Misreporting and noncomplying purchases; Purchase transactions; Repurchases; Reserve tranche purchases; Stand-by arrangements; Supplemental Reserve Facility; Supplementary Financing Facility; Systemic Transformation Facility; Waiver of limitation of 200 percent of quota under Article V, Section 3 (b) (iii)

      • accordance with purposes of the Fund, 259

      • arrears, resolving the problem of, 750

      • authority of the Fund to use its resources

        • Resolution, 787

        • resolving problem of arrears, 259

      • capital transfers, 259, 453

      • conditionality guidelines, 261–68

      • financing current account deficits, 259

      • form, extended arrangement, 322

      • form, stand-by arrangement, 317

      • inelibility, effect on purchases under extended arrangement, 326

      • ineligibility under Article V, Section 5, 404

      • ineligibility, effect on purchases under stand-by arrangement, 321

      • interpretation of Articles of Agreement, 259

      • limitation and ineligibility under Article V, Section 5, 404

      • meaning of “consistent with the provisions of this Agreement”under Article V, Section 3, 259

      • meaning of “represents”, 260

      • meaning of “represents” that a member has a need to make purchases, 260

      • nondiscriminatory treatment of members, 262

      • performance criteria and phasing, 303

      • postponement and limitation under Article V, Section 5, 404

      • repayment expectation under PRGF-ESF Trust, failure to meet, 174

      • resumption of purchases under extended arrangement after decision of formal ineligibility, 326

      • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 321

      • safeguards, strengthening of, 277–82

      • side letters, 268, 271

      • suspension of exchange transactions, effect on General Arrangements to Borrow, 463

      • suspension of transactions under extended arrangement, 325

      • suspension of transactions under stand-by arrangements, 320

    • V

    • Voluntary Declaration on Trade and Other Current Account Measures, 803

    • Voting power majority

      • compulsory withdrawal, 754

      • Eleventh General Review of Quotas, 10

      • SDR allocation, 811

    • Voting rights, suspension. See Suspension of voting rights

    • W

    • Waiver of limitation of 200 percent of quota under Article V, Section 3 (b)(iii)

      • Compensatory Financing Facility, 382

      • emergency assistance, 330

      • Extended Fund Facility, 416

      • Supplemental Reserve Facility, 380

    • Waiver of performance criteria

      • applicability, 168, 267, 276

      • nonobservance, 138, 168, 276, 305

    • Waiver of special charges, 419

    • World Bank (International Bank for Reconstruction and Development)

      • agreement with WTO, 848, 849, 851

      • Bank-Fund collaboration, 87, 618, 628, 629, 630, 635

      • collaboration with Fund and WTO, 648, 650

      • collaboration with Fund on corporate sector vulnerability analysis, 41

      • collaboration with Fund on shifting resources from military, 87

      • Development Committee, 795

      • ESAF policy framework process, 183

      • Financial Sector Assessment Program, 100

      • Fund-Bank Concordat, 617

      • governance, 76, 77, 83

      • HIPC Initiative, 212, 219, 222

      • investment by Fund of currencies received by SFF Subsidy, 781

      • military expenditures, 87

      • observer status in the Fund, 628, 629

      • post-conflict assistance, 334

      • prescribed holder of SDRs, 706

      • PRGF-HIPC Trust, 192

      • publication authorization required for certain documents, 672

      • rights approach, 760

      • suspension of voting rights, 756

    • World Economic Outlook (WEO)

      • European Central Bank, observer, 643

      • military spending, 85

      • multilateral surveillance, 46, 261

      • publication policies relating to, 679

      • WTO observer status, 854

    • World Trade Organization (WTO)

      • balance of payments consultations, 645

      • coherence in global policymaking, 646

      • consistency of policy advice and obligations, 647

      • cross-conditionality, avoidance, 648

      • document exchange, 650

      • Fund staff observer at WTO meetings, 854

      • guidelines/framework for Fund staff collaboration, 644

      • IMF-WTO Agreement, text, 852–56

      • observer status, 650

      • resolution of open jurisdictional issues, 649

      • suspension of exchange transactions, effect on General Arrangements to Borrow, 463

      • suspension of transactions under extended arrangements, 325

      • suspension of transactions under stand-by arrangements, 320

      • WTO staff observer at Executive Board meetings, 854

    • WTO. See World Trade Organization

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