Selected Decisions, 16th Edition
Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
June 2014
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    SELECTED DECISIONS

    AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    SIXTEENTH ISSUE

    WASHINGTON, DC

    MAY 31, 1991

    © 2009 International Monetary Fund

    Preface

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

    The Fourteenth Issue had an accompanying Annex containing bilateral borrowing agreements entered into by the Fund for the financing of the Enlarged Access Policy and for the financing of the ESAF Trust and associated lending, as well as related decisions adopted by April 30, 1989. This Annex volume, published in 1989, may still be used as an Annex to the Sixteenth Issue. Bilateral borrowing agreements entered into by the Fund in connection with the General Arrangements to Borrow are included in this volume.

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

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

    The General Counsel

    Francois P. Gianviti

    Contents

    List of Decisions by Number

    NumberPage
    2-1372
    71-255
    117-1375
    170-33
    180-5373
    237-2355
    284-3210
    284-456
    286-1210
    287-355
    408-23
    446-4344
    534-3370
    574-2, as amended by 2620-(68/141)372
    597-4373
    102-(52/ll)56
    144-(52-51)345
    201-(53/29)347
    270-(53/95), as amended by 876-(59/15) and 1151-(61/6)58
    343-(54/47)408
    433-(55/42)346
    541-(56/39)285
    649-(57/33)363
    876-(59/15), see 270-(53/95)
    955-(59/45)349
    1034-(60/27)350
    1151-(61/6), see 270-(53/95)
    1238-(61/43)55
    1289-(62/1), as amended by 1362-(62/32), 1415-(62/47), 4421-(74/132), 5792-(78/79), 6241-(79/144), and 7337-(83/37)286
    1362-(62/32), see 1289-(62/1)
    1415-(62/47) see 1289-(62/1)
    1712-(64/29)306
    2620-(68/141), see 574-2
    2772-(69/47), as amended by 4913-(75/207) and 7602-(84/3)174
    3153-(70/95)352
    3179-(70/102)176
    3351-(71/51)176
    4134-(74/4)354
    4239-(74/67)221
    4254-(74/75)366
    4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), and 8885-(88/89)105
    4421-(74/132), see 1289-(62/1)
    4720-(75/114)112
    4773-(75/136), as amended by 5694-(78/35)445
    4913-(75/207), see 2772-(69/47)
    5069-(76/72)414
    5127-(76/91)177
    5220-(76/144), as amended by 7558-(83/156), 7857-(84/175), 8192-(86/13), 8583-(87/72), and 9189-(89/77)109
    5288-(76/167)310
    5306-(77/2)320
    5331-(77/15)320
    5371-(77/51)410
    5387-(77/61)315
    5392-(77/63), as amended by 8564-(87/59) and 8856-(88/64)9
    5488-(77/116)321
    5508-(77/127)188,410
    5509-(77/127)330
    5563-(77/150) TR423
    5590-(77/163)257
    5591-(77/163)409
    5597-(77/171)179
    5694-(78/35), see 4773-(75/136)
    5702-(78/39) G/S as amended by 7096-(82/57)G/S221
    5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)217
    5704-(78/39)213
    5706-(78/39)100
    5709-(78/41)TR425
    5712-(78/41)7
    5719-(78/46)413
    5792-(78/79), see 1289-(62/1)
    5809-(78/88)219
    5832-(78/95)TR425
    5956-(78/180)S388
    5972-(78/189)424
    5973-(78/189)TR424
    6000-(79/1)S, as amended by 6438-(80/37)S389
    6001-(79/1)S390
    6006-(79/3)337
    6008-(79/3)337
    6026-(79/13)13
    6053-(79/34)S, as amended by 6438-(80/37)S392
    6054-(79/34)S, as amended by 6438-(80/37)S394
    6056-(79/38)60
    6163-(79/96)338
    6172-(79/101)214
    6201-(79/121)TR426
    6202-(79/121)TR426
    6209-(79/124)S400
    6230-(79/140)65
    6241-(79/144), see 1289-(62/1)
    6266-(79/156)4
    6273-(79/158)G/S198
    6274-(79/158)199
    6275-(79/158)G/S201
    6336-(79/178) S396
    6337-(79/178) S397
    6339-(79/179), see 4377-(74/114)
    6352-(79/183)201
    6358-(79/188)TR, as amended by 8640-(87/101) S/TR428
    6368-(79/191)S388
    6437-(80/37)S398
    6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S
    6445-(80/43)193
    6466-(80/68)TR426
    6467-(80/71)S381
    6484-(80/77)S383
    6485-(80/77)S385
    6486-(80/77)S384
    6487-(80/77)S384
    6488-(80/77)S384
    6489-(80/77)S384
    6540-(80/98)TR430
    6609-(80/126)S384
    6631-(80/145)G/S376
    6663-(80/160)S212
    6676-(80/168)TR427
    6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS432
    6693-(80/177)194
    6704-(80/185)TR259,430
    6709-(80/189) S379
    6718-(81/1)S384
    6725-(81/5)194
    6772-(81/35)G/S203
    6774-(81/35)207
    6783-(81/40), as amended by 8885-(88/89)112,411
    6790-(81/43)364
    6793-(81/45)432
    6830-(81/65), see also 4377-(74/114)99,410
    6831-(81/65), as amended by 7059-(82/23)219
    6832-(81/65)S404
    6838-(81/70), as amended by 7048-(82/13), 7688-(84/70), and 7908-(85/26)126
    6844-(81/75)339
    6845-(81/75)340
    6854-(81/78)SBS, as amended by 8184-(86/9)SBS439
    6862-(81/81), see 5703-(78/39)
    6870-(81/83), see 6863-(81/81)
    6908-(81/101)S384
    6925-(81/112), see 6863-(81/81)
    7040-(82/7), as amended by 7589-(83/181)341
    7041-(82/8)G/S405
    7047-(82/13)195
    7048-(82/13)197
    7059-(82/23), see 6831-(81/65)
    7060-(82/23)412
    7064-(82/26)S384
    7086-(82/42)S384
    7096-(82/57)G/S, see 5702-(78/39)G/S
    7116-(82/68)S,406
    7142-(82/85)TR as amended by 8640-(87/101)S/TR428
    7229-(82/136)S384
    7246-(82/147)182
    7247-(82/147)178
    7337-(83/37), see 1289-(62/1)
    7403-(83/73)321
    7420-(83/82)447
    7427-(83/83)18
    7484-(83/117)448
    7558-(83/156)109
    7582-(83/174)S384
    7589-(83/181), see 7040-(82/7)
    7599-(84/3), as amended by 7841-(84/165), 8147-(85/177), 8459-(86/189), 8744-(87/166), 9028-(88/171), 9326-(89/167), and 9476-(90/101)116
    7600-(84/3), as amended by 7841-(84/154), 8147-(55/177), 8459-(86/189), 8744-(87/166), 9028-(88/171), 9326-(89/167), and 9476-(90/101), 9584-(90/161)117
    7602-(84/3), see 2772-(69/47)
    7626-(84/23)S206
    7628-(84/25)302
    7629-(84/25)304
    7645-(84/40)14
    7646-(84/40)15
    7688-(84/70), see 6838-(81/70)
    7704-(84/78)220
    7707-(84/79)S384
    7754-(84/108)SBS440
    7841-(84/165), see 7599-(84/3) and 7600-(84/3)
    7842-(84/165)97
    7857-(84/175)110
    7908-(85/26)73
    7925-(85/38), as amended by 8887-(88/89)63
    7931-(85/41)374
    7939-(85/49)16
    7941-(85/50)S206
    7989-(85/81)439
    7990-(85/81)259
    7999-(85/90)374
    8029-(85/105)260
    8037-(85/110)SBS441
    8147-(85/175), see 7599-(84/3) and 7600-(84/3)
    8160-(85/186)G/S378
    8165-(85/189)G/TR as amended by 8496-(87/3)G/TR, 8641-(87/101)G/TR, and 8923-(88/110) G/TR225,428
    8184-(86/9)SBS, see 6854-(81/78)SBS
    8185-(86/9)SBS/S440
    8186-(86/9)SBS/S386
    8192-(86/13)110
    8222-(86/45)50
    8238-(86/56)SAF, as amended by 8497-(87/3)SAF, 8652-(87/105)SAF, 8758-(87/176)SAF, 9118-(89/40)SAF, and 9490-(90/106)SAF260
    8239-(86/56) SAF386
    8240-(86/56)SAF, as amended by
    8651-(87/105)SAF, 8935-(88/118)SAF, and 9117-(89/40)SAF267
    8241-(86/56)SAF269
    8248-(86/60)15
    8249-(86/60)16
    8265-(86/70)S207
    8271-(86/74)229
    8318-(86/104)S384
    8348-(86/122), as amended by 8481-(86-202) and 8482-(86/202)230
    8433-(86/175)224
    8442-(86/178)229
    8459-(86/189), see 7599-(84/3) and 7600-(84/3)
    8481-(86/202), see 8348-(86/122)
    8482-(86/202), see 8348-(86/122)
    8492-(87/l)SBS441
    8496-(87/3)G/TR, see 8165-(85/189)G/TR
    8497-(87/3)SAF, see 8238-(86/56)
    8515-(87/23)236
    8523-(87/25)SBS see also 6683-(80/185)G/TR442
    8542-(87/36)SAF267
    8563-(87/59)17
    8564-(87/59), see 5392-(77/63)
    8574-(87/64)S207
    8583-(87/72)111
    8618-(87/90)237
    8619-(87/90)238
    8640-(87/101)S/TR see 6358-(79/188)TR and 7142-(82/85)TR
    8641-(87/101)G/S/TR see 8165-(85/189)G/TR
    8642-(87/101)S/TR385
    8648-(87/104)129,134
    8651-(87/105)SAF, see 8240-(86/56)SAF
    8652-(87/105)SAF, see 8238-(86/56)SAF
    8674-(87/117)SBS442
    8733-(87/159)229
    8744-(87/166), see 7599-(84/3)
    8757-(87/176) SAF/ESAF280
    8758-(87/176)SAF see 8238-(86/56)SAF
    8759-(87/176)ESAF, as amended by 9115-(89/40)ESAF, 9488-(90/106)ESAF 9555-(90/146)ESAF 9585-(90/161)ESAF26
    8760-(87/176)282
    8780-(88/12)239
    8781-(88/12)237
    8845-(88/61)ESAF49
    8846-(88/61)ESAF50
    8856-(88/64) see 5392-(77/63)
    8857-(88/64)15
    8858-(88/64)17
    8861-(88/67), as amended by 8880-(88/84)240
    8878-(88/84)237
    8879-(88/84)238
    8880-(88/84), see 8861-(88/67)
    8885-(88/89), see 4377-(74/114) and 6783-(81/40)
    8886-(88/89)118
    8887-(88/89), see 7925-(85/38)
    8897-(88/93)328
    8898-(88/90)222
    8923-(88/110) G/TR see 8165-(85/189) G/TR
    8935-(88/118)SAF, see 8240-(86/56)SAF
    8936-(88/118)244
    8937-(88/118)ESAF/S387
    8941-(88/122)SBS, see also 6683-(80/185)G/TR443
    8955-(88/126), as amended by 9101-(89/30), 9153-(89/59), 9391-(90/43), 9503-(90/114), 9586-(90/161), 9587-(90/161), 9588-(190/161), and 9604-(90/170)136,409
    9028-(88/71), see 7599-(84/3) 7600-(84/3)
    9056-(89/2)ESAF50
    9101-(89/30), see 8955-(88/126)
    9114-(89/40)SAF/ESAF281
    9115-(89/40)ESAF, see 8759-(87/176)ESAF
    9116-(89/40)ESAF282
    9117-(89/40)SAF, see 8240-(86/56)SAF
    9118-(89/40)SAF, see 8238-(86/56)SAF
    9119-(89/40)ESAF49
    9135-(89/46)244
    9186-(89/74)222
    9189-(89/77)111
    9222-(89/97)SBS444
    9331-(89/167) as amended by 9693-(91/48)100
    9403-(90/53)183
    9410-(90/62)247
    9454-(90/89)238
    9457-(90/89)223
    9471-(90/98)250
    9476-(90/101), see 7599-(84/3) and 7600-(84/3)
    9480-(90/103)205
    9487-(90/106) SAF/ESAF281
    9488-(90/106)ESAF23
    9489-(90/106)ESAF49
    9490-(90/106)SAF, see 8238-(86/56)SAF
    9499-(90/111)15,18
    9503-(90/114), see 8955-(88/126)
    9510-(90/122)SBS444
    9546-(90/145)119
    9549-(90/146)G/S378
    9584-(90/161), see 7600-(84/3)
    9585-(90/161)ESAF23
    9586-(90/161), see 8955-(88/126)
    9587-(90/161), see 8955-(88/126)
    9588-(90/161), see 8955-(88/126)
    9603-(90/170)224
    9604-(90/170), see 8955-(88/126)
    9637-(91/15)22
    9693-(91/48), see 9331-(89/167)69
    9696-(91/49)253
    9697-(91/49)256
    9723-(91/63) G/TR227

    Available in Annex to Fourteenth Issue

    NumberPage
    6843-(81/75)A76
    6863-(81/81), as amended by 6870-(81/83) and 6925-(81/112)A130
    6864-(81/81)A133
    7118-(82/114)A109
    7677-(84/64)A110,144
    7955-(85/60)A156
    8460-(86/189)A128
    8486-(86/205)A159
    8643-(87/102)A90
    8831-(88/56)ESAFA3
    8832-(88/56)ESAFA8
    8833-(88/56)ESAFA17
    8834-(88/56)ESAFA21
    8835-(88/56)A21
    8892-(88/90)ESAFA27
    8893-(88/90)ESAFA32
    8894-(88/90)ESAFA37
    8895-(88/90)ESAFA41
    8933-(88/117)ESAFA48
    9016-(88/164)ESAFA54
    9030-(88/173)ESAFA57
    9060-(89/5)ESAFA67
    9120-(89/40)ESAFA63

    List of Board of Governors’ Resolutions

    NumberPage
    IM-6451
    6-8452
    24-12518
    29-7454
    29-8454
    29-9457
    29-10462
    31-2471
    34-2479
    34-3527
    38-1489
    43-1495
    44-1498
    44-5501
    45-1504
    45-2512

    Interpretations Under Article XXIX(a)

    Interpretations of Articles of Agreement (72-1)

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

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

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

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

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