Selected Decisions, 17th Edition
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
June 1992
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    Index

    (* indicates Decision as amended)

    Decision No.page
    AAccounting by members for transactions with the Fund170-33
    Accounts:
    Administrative accounts, balances held not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency7060-(82/23)420
    Borrowed Resources Suspense Accounts6844-(81/75)347
    6845-(81/75)347
    General Account; see General Resources Account, below
    General Resources Account:
    Adjustment of currency holdings of members5590-(77/163)263
    Exchange rate for Fund computations5590-(77/163)263
    Level of Fund SDR holdings, maintenance6275-(79/158) G/S202
    7626-(84/23) S207
    7941-(85/50) S208
    8265-(86/70) S208
    8574-(87/64) S208
    Purchase of SDRs for payment of charge5702-(78/39) * G/S223
    Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185)G/TR446
    Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)430
    Sales of SDRs for payment of quota increases by members under Seventh General Review of Quotas6663-(80/160) S214
    Special Contingent Account, see Special Contingent Account
    Special Disbursement Account, transfer of resources to ESAF Trust and retransfer to Special Disbursement Account8760-(87/176)289
    Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR442
    6704-(80/185) TR440
    Investment7990-(85/81)265
    8029-(85/105)266
    Structural adjustment facility; see Structural adjustment facility
    Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S415
    Subsidy Accounts:
    Oil facility4773-(75/136) *455
    Final review and report on termination7420-(83/82)457
    7484-(83/117)458
    Supplementary financing facility:
    Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS451
    Instrument6683-(80/185) G/TR441
    Investment of currencies6854-(81/78) * SBS448
    Means of payments8185-(86/9) SBS/S449
    Subsidy payments, July 1, 1983-June 30, 19847754-(84/108) SBS449
    Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS450
    Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS450
    Subsidy payments, July 1, 1986-June 30, 19878674-(87/117) SBS451
    Subsidy payments, July 1, 1987-June 30, 19888941-(88/122) SBS452
    Subsidy payments, July 1, 1988-June 30, 19899222-(89/97) SBS453
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS448
    Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR440
    Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
    Adjustment process, international, review5392-(77/63)8
    Administered accounts; see Article V, Section 2(b), administration of deposits provided by members
    Administrative accounts; see Accounts
    African Development Bank and African Development Fund, prescription as holders of SDRs8318-(86/104) S393
    Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S393
    Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S393
    Arrears to the Fund, see Overdue Obligations to Fund
    ArticlesofAgreement
    Amendment, SecondB/G Res. 29-8464
    B/G Res. 29-10477
    Article 1, purposes of the Fund287-355
    433-(55/42)353
    1034-(60/27)357
    4377-(74/114) *71
    4773-(75/136) *455
    5069-(76/72)423
    Article II, Section 2, membership6266-(79/156)4
    Article III, Section 2, adjustment of quotas408-23
    Article III, Section 2(a), general review of quotasB/G Res. 31-2481
    B/G Res. 34-2484
    B/G Res. 38-1495
    B/G Res. 43-1504
    B/G Res. 44-1506
    B/G Res. 44-5509
    B/G Res. 45-1513
    B/G Res. 45-2515
    Article IV:
    Consultations5392-(77/63)9-13
    6026-(79/13)13
    6056-(79/38)61,63
    6790-(81/43)373
    7427-(83/83)18-19
    7646-(84/40)15
    7939-(85/49)16
    8249-(86/60)16
    8563-(87/59)17
    8858-(88/64)17
    9499-(90/111)17
    Consultations, bicyclic procedureChairman’s Summing-up
    EBM/87/10019
    Exchange arrangements5392-(77/63)8
    5712-(78/41)7
    Article IV, Section 3, surveillance over exchange rate policies5392-(77/63) *8-9
    6026-(79/13)13
    9637-(91/15)22
    Article V, Section 11289-(62/1) *301
    Article V, Section 2(b), administration of deposits provided by members8895-(88/90)A41
    Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund1289-(62/1)*298
    Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-355
    Article V, Section 3(b)(ii), “represent” that a member has a need to make purchases284-456
    Chairman’s Summing-up
    EBM/87/17648
    Article V, Section 3(b)(iii), waiver4377-(74/114) *74
    5508-(77/127)158
    6783-(81/40)*84
    8955-(88/126)*106
    Article V, Section 3(d):
    Sale of members’ currencies for repurchases5704-(78/39)216
    Selection of currencies in purchases6273-(79/158) G/S200
    6274-(79/158)201
    6352-(79/183)203
    6774-(81/35)208,209
    Article V, Section 3(f), transfers of SDRs6275-(79/158) G/S202
    Article V, Section 5, limitation on use of Fund’s resources284-3212
    286-1212
    7842-(84/165)70
    Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S214
    Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)200
    6774-(81/35)209
    Article V, Section 7, repurchases1289-(62/1) *298
    5703-(78/39) *220
    5704-(78/39)215
    5809-(78/88) *221
    Article VI, capital transfers1238-(61/43)55
    Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)154
    5509-(77/127)337
    6783-(81/40)82
    Article VII, Section 1, borrowing by Fund1289-(62/1) *294
    8897-(88/93)335
    6783-(81/40) *82
    Article VIII:
    Bilateralism433-(55/42)353
    Consultations5712-(78/41)8
    8858-(88/64)17
    Retention quotas201-(53/29)354
    Article VIII and Article XIV1034-(60/27)357-59
    Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)358-59
    Article VIII, Section 2(a):
    Payments restrictions144-(52/51)352
    3153-(70/95)360
    Article VIII, Section 2(b), unenforceability of exchange contracts446-4350-51
    Article VIII, Section 3, multiple currency practices237-2366-67
    5712-(78/41)8
    6790-(81/43)373
    Article VIII, Section 7B/G Res. 34-3531
    Article IX, Section 7, privilege for communications534-3379
    Article XII, Section 3(b)(i) and 3(f)2-1381
    Article XII, Section 3(c):
    Additional appointed Executive Directors574-2 *381
    Determination of member’s entitlement to appoint Executive Director7060-(82/23)421
    “The preceding two years,” meaning597-4382
    Article XIV:
    Articles VIII and XIV1034-(60/27)357-58
    Bilateralism433-(55/42)353
    Consultations5392-(77/63)8
    8858-(88/64)’17
    Retention quotas201-(53/29)354
    Article XIV, Section 11034-(60/27)358
    Article XIV, Section 2:
    Multiple currency practices237-2366,367
    Payments restrictions144-(52/51)352
    3153-(70/95)359
    Transitional arrangements446-4351
    Article XIV, Section 3117-1384
    Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S390
    6484-(80/77) S392
    6485-(80/77) S394
    6486-(80/77) S393
    7629-(84125)312
    8642-(87/101)S/TR394
    8759-(87/176)ESAF*37
    8937-(88/118)ESAF396
    Article XVIII, allocation of special drawing rightsB/G Res. 24-12527
    B/G Res. 34-3536-37
    Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S397
    6368-(79/191) S397
    Article XIX, Section 2(c):
    Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S390
    Operations and transactions in special drawing rights between participants6000-(79/l) S *398
    6001-(79/1) S *399
    6053-(79/34) S *401
    6054-(79/34) S *403
    6336-(79/178) S405
    6337-(79/ 178) S406
    6437-(80/37) S407
    Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S409
    Article XIX, Section 5(a)(i), designation plans6273-(79/158) GS199
    Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S413
    Article XIX, Section 7(a), calculation of exchange rates1289-(62/1) *301
    7041-(82/8) G/S414
    Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S390
    Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S416
    Article XXIIB/G Res. 34-3531
    Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S392
    Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)417
    Article XXVI, Section 31289-(62/1) *302
    Article XXVII1289-(62/1) *302
    270-(53/95) *59
    Article XXVII, Section l(a)(i), suspension of transactions covered by stand-by arrangements270-(53/95) *59
    Article XXIX(a), list of interpretations underXXXV
    Article XXX(c):
    Exclusion of purchases and holdings under buffer stock facility5591-(77/163)418
    Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126) *418
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40) *85
    Exclusion of purchases and holdings under extended facility6830-(81/65)420
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)419
    Exclusion of purchases under oil facility5371-(77/51)419
    Exclusion relating to purchases in credit tranches6830-(81/65)420
    Article XXX(f), freely usable currencies5719-(78/46)422
    Article XXXI, Section 1408-23
    Schedule B, repurchases5703-(78/39) *221
    5704-(78/39)216
    6008-(79/3)345
    Schedule B, paragraph 1(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)423
    Schedule F, rules for designation6209-(79/124) S410
    Schedule G, rules for reconstitution, abrogation6832-(81/65) S413
    Schedule J1289-(62/1) *302
    Schedule K1289-(62/1) *302
    5288-(76/167)322
    5387-(77/61)327
    Schedule K, paragraph 15288-(76/167)322
    5387-(77/61)327
    Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S393
    Assessments, payment in SDR Department; see Accounts, Special Drawing Rights Department, payment of net charges and assessments
    Attribution of reductions in Fund’s holdings of currency6831-(81/65) *221
    6774-(81/35)210
    Review7704-(84/78)222
    Audit:
    Enhanced structural adjustment facility trust (ESAF Trust)8759-(87/176) ESAF40
    Oil facility Subsidy Account4773-(75/136) *455
    Supplementary financing facility Subsidy Account6683-(80/185) G/TR447
    Trust Fund5069-(76/72)430
    Augmentation; see Purchase transactions, Augmentation
    BBalance of payments position:
    Assessment for assistance from Trust Fund5069-(76/72)426
    Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S199
    Discrimination for balance of payments reasons955-(59/45)356
    Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78) SBS448
    Prescription as holder of special drawing rights6484-(80/77) S392
    Trust Fund deposits denominated in SDRs5973-(78/189) TR433
    Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S393
    Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
    Bicyclic consultation procedures; see Consultation with members
    Bilateralism433-(55/42)353
    Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below
    Borrowing by the Fund
    Agreement with Swiss National Bank:
    19765288-(76/167)318
    19775387-(77/61)323
    Interest, media of payment5331-(77/15)327
    5488-(77/116)328
    Agreement with Swiss National Bank:
    Transfer charges, media of payment5306-(77/2)328
    5488-(77/116)328
    Use of special drawing rights in repayment6485-(80/77) S394
    Borrowed Resources Suspense Accounts6844-(81/75)347
    6845-(81/75)347
    Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)81
    General Arrangements to Borrow:
    Associated borrowing arrangements7403-(83/73)329
    “Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing9862-(91/156) *349
    Renewal, sixth8733-(87/159)307
    Saudi Arabia, association agreement7403-(83/73)329
    Renewal8897-(88/93)335
    Transferability of claims7629-(84/25)312
    Swiss National Bank, participation of1289-(62/1) *304
    Switzerland, association of1712-(64/29)313
    Transferability of claims; see Transferability of claims
    Use of credit arrangements for nonparticipants1289-(62/1) *304
    Guidelines9862-(91/156)349
    Supplementary financing facility:
    Authorization to make calls6006-(79/3)344
    Interest payment procedure6163-(79/96)345
    Meaning of “net creditor position in the Fund”6008-(79/3)345
    Replenishment of holdings of currencies5509-(77/127)337
    Subsidy Account6683-(80/185) G/TR441
    Buffer stock financing facility2772-(69/47) *144
    Access limit and review2772-(69/47) *144
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)418
    International Natural Rubber Agreement, 19797246-(82/147)150
    International Natural Rubber Agreement, 19879403-(90/53)152
    International Sugar Agreement, 19775597-(77/171)148
    International Tin Agreements:
    Fourth3179-(70/102)145
    3351-(71/51)145
    Fifth5127-(76/91)146
    Sixth7247-(82/147)147
    Repurchases5703-(78/39) *219
    Sixth International Tin Agreement7247-(82/147)147
    1977 International Sugar Agreement5597-(77/171)148
    International Natural Rubber Agreement, 19797246-(82/147)150
    Burden sharing8348-(86/122) *233
    8515-(87/23)239
    Managing Director’s Remarks238
    Adjustment for quarter ended April 30, 19888878-(88/84)240
    Extended burden sharing; see Extended burden sharing
    Implementation for FY 19898861-(88/67)244
    for FY 19909135-(89/46)248
    for FY 19919410-(90/62)251
    for FY 19929696-(91/49)256
    for FY 19939997-(92/57)259
    Net income target:
    for FY 19888781-(88/12)240,241
    for FY 19898861-(88/67)244
    Principles of “burden sharing”8861-(88/67)244
    Rate of charge:
    for FY 19898861-(88/67)244
    retroactive reduction for FY 19878618-(87/90)240
    for FY 19888781-(88/12)240
    8879-(88/84)241
    Retroactive reduction of rate of charge8618-(87/90)240
    8781-(88/12)240
    Special Contingent Account, amounts placed
    for FY 19878619-(87/90)242
    for FY 19888780-(88/12)242
    for FY 19898861-(88/67)244
    for FY 19909135-(89/46)248
    9471-(90/98)254
    9410-(90/62)251
    By-Laws, Section 20 audits; see Audits
    By-Laws, Section 22, Compulsory Withdrawal: see Section 22
    CCapital transfers:
    Controls by members541-(56/39)293
    B/G Res. 29-10474
    Restrictions237-2365
    Use of Fund’s resources for1238-(61/143)55
    B/G Res. IM-6461
    Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S393
    “Changing circumstances,” adaptation of multiple currency practices237-2369
    Charges:
    Accounting for charges from members with
    overdue obligations8433-(86/175)227
    Accrued charges8433-(86/175)227
    Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for calculation7060-(82/23)420-421
    Borrowing agreements with Swiss National Bank5288-(76/167)318
    5306-(77/2)328
    5387-(77/61)323
    5488-(77/ 116)328
    Enlarged access policy6783-(81/40)85
    Extended Fund facility4377-(74/114) *75
    4720-(7S/114)223
    6838-(81/70) *100,105
    Future changes4239-(74/67)223
    Interest on Trust Fund loans; see Interest Media of payment5702-(78/39) * G/S223
    Oil facility Subsidy Account; see Accounts, Subsidy Accounts
    Overdue obligations to Fund, special charges8165-(85/189) G/TR228-30
    Overdue obligations to Fund, accrued income8433-(86/175)227
    Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S224
    Payment of net charges and assessments in Special Drawing Rights Department, procedure when participants fail to hold adequate SDRs or to acquire them from other
    participants or Fund7116-(82/68) S415
    Rate, as of Feb. 1, 19888780-(88/12)242
    as of May 1, 19888898-(88/90)224
    Rate, determination of, burden sharing8348-(86/122) *233
    8515-(87/23)239
    Rate on use of ordinary resources for FY 19909186-(89/74)224
    for FY 19919457-(90/89)225
    9603-(90/170)226
    for FY 19929751-(91/77)227
    Retroactive reduction of rate:
    for FY 19878618-(87/90)240
    for FY 19888781-(88/12)240
    for FY 19909454-(90/89)241
    for FY 19919749-(91/77)241
    Setoff in connection with retroactive reduction8271-(86/74)232
    Special charges on overdue obligations to Fund8165-(85/189) * G/TR228
    Setoff against charges due for second quarter of FY 19878442-(86/178)232
    Suspension of application in General Resources Account9723-(91/63) G/TR230
    Stand-by arrangements6838-(81/70) *100
    Supplementary financing facility5508-(77/127)159
    Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
    Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.463
    Final report and terminationB/G Res. 29-7464
    Support of extended Fund facility4377-(74/114) *72
    Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)373
    Commodities (seealso Buffer stock financing facility; Compensatory financing …):
    Reclassification where subject to multiple currency practices237-2367
    Communications, privilege for534-3379
    Compensatory and contingency financing facility, establishment8955-(88/126) *106
    Compensatory financing of export fluctuations8955-(88/126) *109
    External contingency financing8955-(88/126) *112
    Chairman’s Summing up EBM/88/105133
    Compensatory financing of fluctuation in the cost of cereal imports8955-(88/126) *118
    Compensatory financing of fluctuations in the cost of oil imports8955-(88/126) *123
    Transitional and other provisions8955-(88/126) *130
    Conditionality; see Use of Fund’s resources, Conditionality
    “Consistent with the provision of this Agreement,*’ meaning in Article V, Section 3287-355
    Consultation with members:
    Before accepting obligations of Article VIII, Sections 2, 3, and 41034-60/27)358
    Bicyclic procedures and simplified interim proceduresChairman’s Summing up EBM/87/10019
    Bilateral arrangements433-(55/42)353
    Changes in members’ exchange arrangements, notification to Fund5712-(78/41)7
    Commodity field, attention to policies2772-(69/47) *144
    Conduct by Managing Director in interval between Article IV consultations5392-(77/63)13
    6026-(79/13)14
    Consultations under Article IV5392-(77/63)12
    6026-(79/13)14
    6056-(79/38)63
    6790-(81/43)373
    Discussions on use of Fund’s resources102-(52/ll)57
    During period of extended arrangement6838-(81/70) *105
    During period of stand-by arrangement6838-(81/70) *100
    Exchange measures needing approval under Article VIII1034-(60/27)359
    Members* policies in present circumstances4134-(74/4)362
    Multiple currency practices237-2364
    Periodic discussions under Article VIII1034-(60/27)359
    Resumption of purchases under extended arrangements6838-(81/70) *104
    Resumption of purchases under stand-by arrangements270-(53/95) *59
    6838-(81/70) *99
    Retention quotas201-(53/29)354
    Special consultations5392-(77/63)12
    Whether measure is exchange restriction1034-(60/27)358
    Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8) G/S414
    Consultations with prescribed holders of special drawing rights6467-(80/71) S391
    Contingency mechanism; see Compensatory and contingency financing Facility
    Convertibility:
    Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)358
    Approval of exchange restrictions1034-(60/27)358
    Bilateralism433-(55/42)353
    Consultation with Fund1034-(60/27)358
    Discrimination955-(59/45)356
    Multiple currency practices; see Multiple currency practices
    Retention quotas201-(53/29)354
    Credit tranches; see Tranche policies
    Creditworthiness, factor in determining use of Fund’s resources102-(52/11)57
    Currencies (see also Borrowing by the Fund;
    Convertibility Holdings of the Fund; Investment
    Arrangements for use in operations and transactions of FundB/G Res 31-2482-83
    Composition of special drawing right6631-(80/145) G/S385
    Freely usable currencies5719-(78/46)422
    Guidelines for use in operational budgets6772-(81/35) G/S204
    9480-(90/103)206
    Review9917-(92/11)207
    Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S199
    6274-(79/158)200
    6774-(81/35)208
    9480-(90/103)206
    Payment of subscriptions6266-(79/156)4
    B/G Res 31-2482
    B/G Res 34-2489
    B/G Res 38-1500
    Rates for computations and maintenance of value5590-(77/163)263
    Replenishment in connection with supplementary financing facility5509-(77/127)337
    Sale by agreement with member with outstanding purchases6274-(79/158)200
    6352-(79/183)203
    6774-(81/35)209
    Selection for payment of charges5702-(78/39) * G/S223
    Specified by the Fund, use in repurchases5703-(78/39) *220
    5809-(78/88)221
    Subscribed to the Fund, ownership170-33
    DDebt management policies; see External debt management policies
    Debt and debt service reduction operations, early repurchase expectations9331-(89/167) *194
    Debt strategy, Fund involvement inChairman’s

    Summing up

    EBM/89/61
    189
    Declaration of noncooperation or censureEBM/89/100172
    EBM/89/101176,182
    Deferred income; see Overdue obligations to Fund, Deferred income
    Designation; see Special drawing rights
    Development Committee; see Joint Ministerial Committee
    Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions)955-(59/45)356
    Drawings; see Purchase transactions; Use of Fund’s resources
    EEast African Development Bank, prescription as holder of special drawing rights7582-(83/174) S393
    Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S393
    Emergency assistance, natural disastersChairman’s

    Remarks

    EBM/82/16
    79
    Enemy-occupied, former, members, introduction of multiple currency practices237-2367
    Enhanced structural adjustment facility:
    Access limits8845-(88/61)* ESAF

    8759-(87/176)*

    ESAF

    8238-(86/56) *

    SAF
    48



    29-30



    267-68
         Review9119-(89/40) ESAF

    9489-(90/106)* ESAF

    9810-(91/114) ESAF
    49

    49

    50
    Arrears to the Fund, consequencesActing

    Chairman’s

    Remarks

    EBM/88/12
    166-67
    Borrowing for loan accounts, consultation with creditors9056-(89/2) ESAF50
    Establishment8757-(87/176)

    SAF/ESAF
    286
    Extension of commitment and disbursement periods for agreement9116-(89/40) ESAF289
    Legal documentationChairman’s Remarks EBM/87/17647
    Operational arrangementsChairman’s

    Summing up

    EBM/87/171
    41
    Review8757-(87/176)

    SAF/ESAF

    9114-(89/40)

    SAF/ESAF

    9487-(90/106)*

    SAF/ESAF

    9808-(91/114)

    SAF/ESAF


    287

    287

    288

    288
    Enhanced Structural Adjustment Facility Trust: Instrument to establish8759-(87/176)*

    ESAF

    Chairman’s

    Summing up

    EBM/87/171


    26



    41
    Interest rate on trust loans8846-(88/61) ESAF50
    Lending, considered as a member’s official reserves by FundChairman’s

    Summing up

    EBM/87/176
    47-48
    Transfer and retransfer of resources to and from Special Disbursement Account8760-(87/176)*289
    Enhanced surveillance
    Procedures for transmittal of staff reports8222-(86/45)

    Chairman’s

    Summing up

    EBM/85/132
    51



    51
    Enlarged access, policy on6783-(81/40) *81
    Access limits, guidelines7600-(84/3) *

    Chairman’s

    Summing up
    86

    89
    Apportionment between ordinary and borrowed resources8886-(88/89)87
    Borrowed Resources Suspense Accounts; see Accounts
    Charges6783-(81/40) *85
    Exclusion of purchases with borrowed resources and holdings under Article XXX(c)6783-(81/40) *85
    Forms of stand-by and extended arrangements6838-(81/70) *96
    Mix of ordinary and borrowed resources; see Apportionment between ordinary and borrowed resources, above
    Modalities for financing, see Substitution of ordinary for borrowed resources
    Period7599-(84/3) *85
    Repurchases; see Repurchases
    Review7599-(84/3)*86
    Substitution of ordinary for borrowed resources9546-(90/145)88
    Review9874-(91/167)89
    Utilization of supplementary financing facility for enlarged access resources; see Supplementary financing facility
    European Currency Unit, representative rate in terms of SDR7041-(82/8) G/S414
    European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8) G/S414
    “Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1

    237-2
    384

    369
    Exchange arrangements, notification5392-(77/63) *

    5712-(78/41)
    12 7
    Exchange contracts, unenforceability446-4350
    Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4351
    Exchange controls on capital transfers541-(56/39)293
    Exchange rates:
    Borrowing arrangements by Fund1289-(62/1) *301
    Exchange rate policies of members, surveillance5392-(77/63)9
    Flexible exchange arrangements5712-(78/41)8
    Floating, guidelinesB/G Res. 29-10474
    Fluctuating:
    Multiple currency practices (fixed and fluctuating rates)237-2365
    Scope of transactions to be agreed with Fund237-2366
    Free markets237-2365
    Multiple currency practices arising from official action6790-(81/43)371
    Notification to Fund5392-(77/63)12
    5712-(78/41)7
    Pegs, notification to Fund of changes5712-(78/41)7
    Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S414
    Unification in multiple rate systems a basic objective of Fund649-(57/33)370
    Exchange restrictions (see also Payments restrictions):
    Approval1034-(60/27)358
    Avoidance of escalation4134-(74/4)

    4254-(74175)
    362

    373
    Bilateralism433-(55/42)353
    Capital transactions; see Capital transfers
    Consultations with Fund1034-(60/27)358
    Discrimination955-(59/45)356
    Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)358
    Introduction1034-(60/27)358
    Maintenance1034-(60/27)358
    Multiple currency practices237-22

    649-(57/33)

    6790-(81/43)
    367

    370-71

    371
    Payments arrears3153-(70/95)359
    Retention quotas201-(53/29)354
    Security reasons; see Payments restrictions Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)358
    Withdrawal, representation by Fund117-1384
    Exchange systems, avoidance of use for non-balance of payments reasons1034-(60/27)358
    Exchange taxes237-2365, 369
    Notification to Fund5712-(78/41)8
    Exchange transactions; see Purchase transactions
    Exclusion of balances held in administrative accounts; see Accounts, Administrative accounts
    Exclusion of purchases and holdings under Fund policies; see Article XXX(c)
    Executive Board:
    Annual review of decision on oil facility Subsidy Account4773-(75/136) *457
    Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)

    6026-(79/ 13)

    7646-(84/40)

    7939-(85/49)

    8249-(86/60)
    9

    13

    15

    16

    16
    Annual review of implementation of surveillance over members* exchange rate policies8563-(87/59)

    8858-(88/64)

    9499-(90/ll)
    17

    17

    17
    Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)67
    Communication of changes in members’ exchange arrangements5712-(78/41)7
    Information on operation of buffer stocks3179-(70/102)

    5127-(76/91)

    5597-(77/171)

    7246-(82/147)

    7247(82/147)
    145

    146

    150

    152

    148
    Report to Board of Governors on quota increases under General Reviews of
    Quotas:
    SeventhB/G Res. 34-2484
    EighthB/G Res. 38-1495
    NinthB/G Res. 43-1504
    B/G Res. 44-1506
    B/G Res. 44-5509
    B/G Res. 45-1513
    B/G Res. 45-2515
    Review and change of rules for designation6209-(79/124) S411
    Review of broad developments in exchange rates5392-(77/63)12
    Review of decision on extended Fund facility4377-(74/114) *75
    5220-(76/144)75
    7558-(83/156)76
    7857-(84/175)76
    8192-(86/13)77
    8583-(87/72)78
    9189-(89/77)78
    Review of functioning of international adjustment process9790-(91/106)

    5392-(77/63)
    78

    11
    Review of guidelines for borrowing by Fund9862-(91/91)349
    Review of level of Fund’s SDR holdings6275-(79/158) G/S202
    7626-(84/23) S207
    7941-(85/50) S208
    8265-(86/70) S208
    8574-(87/64) S208
    Review of prescriptions of holders of special drawing rights6467-(80/71) S391
    Review of quota calculation methodB/G Res. 38-1495
    Executive Directors:
    Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4382
    Appointment by members having five largest quotas2-1381
    Determination of members entitled to appoint under Article XII, Section 3(c).574-2*381
    Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination.7060-(82/23)420
    Participation in meetings of Development CommitteeB/G Res. 29-9470
    Participation in meetings of Interim CommitteeB/G Res. 29-8465
    Voting power, effect of quota changes180-5382
    Export shortfalls, financing; see Compensatory and contingency financing facility
    Extended arrangements4377-(74/114) *71
    Amendment to utilize supplementary financing7047-(82/13)

    7048-(82/ 13)
    161

    164
    Amounts to be made available under enlarged access policy decision, guidelines7600-(84/ 3) *86
    Augmentation of rights to make purchases, elimination5706-(78/39)71
    Charge4377-(74/114) *

    4720-(75/114)

    6838-(8 1/70) *
    75

    223

    105
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)419
    Form under enlarged access policy6838-(81/70) *

    7048-(82/13)

    7908-(85/26)
    101

    163

    164
    Guidelines, operational; see Performance criteria and phasing, below
    Ineligibility..6838-(81/70) *104
    Publicity upon declaration7931-(85/41)

    7999-(85/90)
    383

    383
    Misreporting and noncomplying purchases, guidelines on corrective action.7842-(84/165)

    EBM/85/26
    68

    70
    Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
    Noncomplying purchases; see Misreporting and noncomplying purchases
    Operational guidelines; see Performance criteria and phasing, below
    Overdue obligations to Fund, purchases from Fund7908-(85/26)

    EBM/84/54
    164

    165
    Performance criteria and phasing, operational guidelines7925-(85/38)*63
    Provision for enlarged access to Fund’s resources6783-(81/40)81
    Provision for supplementary financing5508-(77/127)

    6693-(80/177)

    6725-(81/5)
    154-55

    160

    160
    Repurchases; see Repurchases
    Review of decision on extended Fund facility5220-(76/144)75
    7558-(83/156)76
    7857-(84/175)76
    8192-(86/13)77
    8583-(87/72)77
    9189-(89/77)78
    9790-(91/106)78
    Suspension of right to engage in purchase transactions6838-(81/70) *104
    Utilization of supplementaty financing facility for enlarged access resources; see Amendment to utilize …, above
    Extended burden sharing, implementation and modalities of new special Contingent Account Review9471-(90/98)

    9998-(92/57)
    254

    259
    Extended Fund facility; see Extended arrangements External debt management policies6230-(79/140)65
    External contingency financing, see Compensatory and contingency financing facility
    F“First credit tranche,” Fund attitude to request for transactions60
    Floating rates; see Exchange rates
    Fluctuating exchange rates; see Exchange rates
    Freely usable currencies5719-(78/46)422
    Free markets; see Exchange rates
    Fund resources, use; see Use of Fund’s resources
    Fund’s holdings; see Holdings of the Fund
    GGeneral Agreement on Tariffs and Trade.1034-(60/27)

    4254-(74/75)

    B/G Res. 29-10
    359

    375

    475
    General Arrangements to Borrow; see Borrowing by the Fund
    General Resources Accounts; see Accounts
    Gold:
    Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund.5703-(78/39) *

    5809-(78/88)
    220

    221
    Sale, amounts available to Trust Fund5069-(76/72)423,424
    Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)424
    5709-(78/41) TR434
    5832-(78/95) TR435
    6540-(80/98) TR439
    Sale, transfer of profits to Trust Fund5069-(76/72)425
    Subscribed to Fund, ownership170-33
    Gross reserve position; see Reverse position, gross
    HHoldings of the Fund:
    Adjustment by Fund5590-(77/163)263
    Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)

    6831-(81/65) *
    210

    221
    Attribution of reductions to repurchase obligations6831-(81/65) *221
    Balances held in administrative accounts not in excess of 0.1 percent of member’s quota, exclusion from Fund’s holdings of member’s currency for certain purposes7060-(82/23)420-21
    Computations and adjustment, rates5590-(77/163)263
    Exclusion of holdings resulting from credit tranche purchases6830-(81/65)419
    Exclusion under buffer stock facility5591-(77/163)418
    Exclusion under compensatory and contingency financing facility8955-(88/126) *418
    Exclusion under enlarged access policy6783-(81/40)420
    Exclusion under extended Fund facility6830-(81/65)419
    Exclusion under oil facility5371-(77/51)419
    Exclusion under supplementary financing facility5508-(77/127)419
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Repurchases; see Repurchases
    IImport restrictions imposed for balance of payments reasons, GATT members.1034-(60/27)359
    Income, accrued, see Overdue obligations to Fund, purchases from Fund, Accrued charges and income
    Income position, burden sharing.8348-(86/122)*233
    8515-(87/23)239
    8618-(87/90)240
    9135-(89/46)248
    9410-(90/62)251
    9696-(91/49)256
    Income target for FY 1987 and FY 19888348-(86/122)*233
    Ineligibility; see Extended arrangements; Standby arrangements; Use of Fund’s resources
    Interest:
    Charge on loans from Trust Fund.5069-(76/72)428
    Payment on Fund indebtedness to Swiss National Bank5288-(76/167)320-213
    5331-(77/15)327
    5387-(77/61)325
    5488-(77/116)328
    Payment on Fund indebtedness under General Arrangements to Borrow1289-(62/1) *298
    Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)G/TR 443
    Payment under supplementary financing facility5509-(77/127)

    Annex

    6163-(79/96)
    340

    345
    Payments by members under Trust Fund loan agreements.6358-(79/188)

    5069-(76/72)
    437

    428
    Interim Committee of the Board of Governors on the International Monetary System: EstablishmentB/G Res. 29-8463
    Review of functioning of international adjustment process5392-(77/63)11
    Rules of procedure477
    International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S393
    International Development Association, prescription as holder of special drawing rights6718-(81/1) S393
    International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S393
    International monetary system, reformB/G Comp. Res.463
    International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
    Interpretation of Articles of AgreementXXXV
    Investment:
    Currencies held in oil facility Subsidy Account4773-(75/136) *455
    Currencies held in supplementary financing facility Subsidy Account6683-(80/185)

    G/TR 6854-(81/78)

    SBS


    443

    448
    Currency balances held in Trust Fund5069-(76/72)

    5972-(78/189)

    5973-(78/189) TR
    430

    433

    433
    Islamic Development Bank, prescription as holder of special drawing rights.7086-(82/42) S393
    JJapan, Borrowing agreement with Fund; see Borrowing by the Fund
    Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing
    Countries:
    EstablishmentB/G Res. 29-9467
    Rules of procedure478
    Secretariat function, changes in organization of work and structure479
    MMaintenance of value, adjustment: general policies and procedures relating to arrears to FundActing

    Chairman’s

    Summing up

    EBM/88/19
    167
    Managing Director:
    Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)

    6845-(81/75)
    347

    347
    Authority to establish oil facility Subsidy Account..4773-(75/136) *455
    Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/ 3)344
    Consultation by eligible member to request assistance from Trust Fund.5069-(76/72)425
    Consultation by member befóte making request under supplementary financing facility5508-(77/127)154
    Consultation by member contemplating request under extended Fund facility4377-(74/114) *73
    Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)82
    Consultation with members when notice of exchange policy change not received5712-(78/41)8
    Consultations and proposals to Executive Board concerning sales of currencies at request of members with outstanding purchases6352-(79/183)203
    Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)345
    Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements6854-(81/78)* SBS448
    Discussions with members judged sufficiently strong whose outstanding purchases are not subject to guidelines on early repurchase with view to reducing their indebtedness to the Fund6774-(81/35)210
    Discussions with members on exchange policies5392-(77/63)

    6026-(79/13)
    12

    14
    Participation in meetings of Development CommitteeB/G Res. 29-9470
    Participation in meetings of Interim CommitteeB/G Res. 29-8465
    Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189) TR434
    Proposals for allocation of SDRs:
    First basic period.B/G Res. 24-12527
    Third basic periodB/GRcs. 34-3529
    Fourth basic period538
    Proposals for calls under General Arrangements to Borrow1289-(62/1) *

    1712-(64/29)
    296

    314
    Proposals for Trust Fund investments5973-(78/189) TR434
    Recommendations to Executive Board regarding approval of use of Fund resources and stand-by arrangements6056-(79/38)61
    Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period538
    Military expenditure and role of the FundConcluding

    Remarks by

    Acting Chairman

    EBM/91/138
    376-78
    Misreporting and noncomplying purchases, guidelines on corrective action; see Extended or Stand-by arrangements
    Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
    Monetary stabilization operations, use of Fund’s resources71-2

    B/G Res. IM-6
    55

    461
    Multiple currency practices:
    Applying solely to capital transactions8648-(87/104)99,103
    Policy237-2362
    649-(57/33)370
    6790-(81/43)371
    Prior Fund approval5712-(78/41)8
    Spreads6790-(81/43)371
    N“Net creditor position in the Fund”..6008-(79/3)345
    Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
    Nordic Investment Bank, prescription as holder of special drawing rights..6488-(80/77) S393
    OOil facility:
    1975 facility
    Subsidy Account.4773-(75/136) *455
    Final review and report on termination7420-(83/82)457
    7484-(83/117)458
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)419
    Operational budgets:
    Assessment of strength of member’s of balance payments and gross reserve position6273-(79/158)

    G/S
    199
    Sales of SDRs and use of currencies6772-(81/35) G/S204
    Overdue obligations to Fund, purchases from Fund (see also Extended or Stand-by arrangements)7908-(85/26)164
    6838-(81/70) *99,104
    Access to enhanced structural adjustment facility (ESAF)Chairman’s

    Closing Remarks

    EBM/88/12
    166
    Accrued charges and income.8433-(86/175)227
    Accounting for overdue charges..8433-(86/175)227
    Burden sharing; see Burden Sharing
    Complaint, period of considerationChairman’s

    Summing up

    EBM/85/170

    EBM/90/38




    165

    181-83
    Compulsory withdrawalEBM/89/100

    EBM/89/101

    EBM/90/38


    173

    179,183
    Declaration of ineligibility.EBM/89/100

    EBM/89/101


    171
    Declaration of noncooperation or censureEBM/89/100

    EBM/89/101
    172

    172
    Deferred income8433-(86/175)

    8515-(87/23)
    227

    239
    Letter to GovernorsEBM/89/100

    EBM/89/101
    173-74

    173-74
    Maintenance of value adjustments, policies and proceduresChairman’s

    Summing up

    EBM/88/19




    167
    Procedures for dealing with membersEBM/89/101168
    Publicity upon declaration of ineligibility7999-(85/90)383
    Reporting by Fund7931-(85/41)383
    Rights accumulation programs, operational modalities..Chairman’s

    Summing up
    EBM/90/97183
    EBM/91/42187
    EBM/92/58188
    Setoff in connection with retroactive reduction of charges due by members in arrears827 (86/74)232
    Special charges on8165-(85/189) * G/TR228
    Setoff against charges due for second quarter of FY 19878442-(86/178)232
    Strengthened cooperative strategy, timetable of proceduresChairman’s

    Statement
    EBM/90/38177
    EBM/92/58187
    Overdue payments to Fund; see Overdue obligations to Fund
    PPayments arrears3153-(70/95)359
    Payments policies of members4134-(74/4)361
    Payments restrictions; (see also Exchange restrictions; Payments arrears):
    For security reasons, Fund jurisdiction144-(52/51)352
    Withdrawal or general abandonment117-1384
    “Position in the Fund,” definition6274-(79/158)201
    6772-(81/35)
    G/S205
    Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)352
    Publication of reports, overdue obligations7931-(85/41)383
    Publicity on declaration of ineligibility7999-(85/90)383
    Purchase transactions (see also Use of Fund’s resources):
    Augmentation of rights to purchase under standby and extended arrangements, elimination5706-(78/39)71
    Purchase under buffer stock financing facility2772-(69/47) *144
    3179-(70/102)145
    5127-(76/91)146
    5591-(77/163)418
    5597-(77/171)148
    7246-(82/147)150
    7247-(82/147)147
    Purchases under compensatory and contingency financing facility.8955-(88/126) *106-32
    Purchases under credit tranche; see Tranche policies
    Purchases under extended arrangements5508-(77/127)154
    6783-(81/40) *81-85
    6830-(81/65)71
    6838-(81/70) *101
    7048-(82/13)163
    Purchases under policy on enlarged access6783-(81/40) *81
    Purchases under stand-by arrangements5508-(77/127)154
    6783-(81/40) *81-85
    6838-(81/70) *96
    7048-(82/13)163
    Purchases under supplementary financing facility5508-(77/127)154-59
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal.6838-(81/70) *104
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95) *

    6838-(81/70) *
    59

    99
    Suspension, effect on General Arrangements to Borrow1289-(62/1) *302
    Suspension of transactions under extended arrangements6838-(81/70) *104
    Suspension of transactions under stand-by arrangements270-(53/95) *

    6838-(81/70) *
    59

    99
    QQuotas
    Adjustment, first interval of five years408-23
    Calculation, review of methodB/G Res. 38-1495
    Change, effect on voting power of elected Executive Director180-5382
    Reviews:
    First408-23
    Sixth General Review.B/G Res. 31-2481
    Seventh General ReviewB/G Res. 34-2484
    Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S214
    Eighth General ReviewB/G Res. 38-1495
    Ninth General Review
    Report of Executive Board to Board of GovernorsB/G Res. 43-1504
    B/G Res. 44-5509
    B/G Res. 45-1513
    B/G Res. 45-2515
    Period of consent, extension9874-(91/167)523
    Special adjustment for members with very small quotasB/G Res. 44-1506
    B/G Res. 38-1497
    RRates for official communications of Fund534-3379
    Rates of exchange; see Exchange rates; Multiple currency practices
    Reconstitution; see Special drawing rights, Reconstitution
    Remuneration on net creditor positions, balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency for calculation7060-(82/23)421
    Remuneration, rate, burden sharing8348-(86/122) *

    8515-(87/23)
    234

    239
    Repayment by Fund of borrowed currency1289-(62/ 1) *299
    1712-(64/29)316
    5288-(76/167)321-22
    5387-(77/61)326
    5509-(77/127)340-41
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Reporting by the Fund of overdue obligations7931-(85/41)383
    Repurchases:
    Attribution of reductions in Fund’s holdings of currencies6774-(81/35)

    6831-(81/65) *
    210-11

    221
    Currency resulting from purchase under credit tranches..5703-(78/39) *219
    Currency resulting from purchase under extended arrangement6838-(81/70) *105
    Currency resulting from purchase under stand-by arrangement6838-(81/70)100
    Early, guidelines5704-(78/39)

    6172-(79/101)

    6273-(79/158) G/S
    215

    216

    199
    Early, expectation, debt and debt service reduction operations; see Debt and debt service reduction operations, early repurchase expectations
    Guidelines for selection of currencies6274-(79/158)

    6774-(81/35)
    200

    208
    Obligations to pay gold, payment with SDRs or currencies of other members5703-(78/39) *220
    5809-(78/88)221
    Of Fund’s holdings102-(52/ll)56
    Procedures5703-(78/39) *220-21
    Under buffer stock financing facility5703-(78/39) *219
    Sixth International Tin Agreement7247-(82/147)147
    1977 International Sugar Agreement5597-(77/171)150
    International Natural Rubber Agreement, 19797246-(82/147)151
    Under compensatory and contingency financing facility5703-(78/39) *

    8955-(88/126)*
    219

    112,117

    122,129
    Under decision on enlarged access6783-(81/40)84
    Under extended Fund facility4377-(74/114) *74
    Under supplementary financing facility5508-(77/127)157-58
    Reserve assets:
    Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
    Payment for subscriptions under Eighth General Review of QuotasB/G Res. 38-1498
    Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S199
    Reserve tranche position:
    Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)

    6831-(81/65) *
    210

    221
    Review7704-(84/78)222
    Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)421
    Reserve tranche purchases (see also Use of Fund’s resources):
    Exclusion of purchases and holdings in credit tranches..6830-(81/65)419
    Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)418
    Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126) *418
    Exclusion of purchases and holdings under extended facility6830-(81/65)419
    Exclusion of purchases and holdings under oil facility..5371-(77/51)419
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)420
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)419
    Restrictions; see Exchange restrictions; Payments restrictions
    Retention quotas201-(53/29)354
    Rights approach or Rights accumulation programs; see Overdue obligations to Fund, purchases from Fund
    Rule G-11289-(62/1) *301
    Rule G-46838-(81/70) *100,104
    Rule 1-6(4):
    Rate of charges8165-(85/189)*
    G/TR228
    8780-(88/12)242
    8898-(88/90)224
    8861-(88/67)245
    9135-(89/46)248
    9410-(90/62)251
    9471-(90/98)254
    9696-(91/49)256
    Rule 1-10:
    Rate of remuneration8348-(86/122) *234
    9471-(90/98)254
    Rule O-2:
    Determination of exchange rate1289-(62/ 1)*301
    5288-(76/167)319
    5387-(77/61)324
    5590-(77/163)263
    6001-(79/l) S400
    6053-(79/34) S401
    6054-(79/34) S403
    6336-(79/178) S405
    7041-(82/8) G/S414
    Valuation of U.S. dollar in terms of special drawing rights..6709-(80/189) S388
    Rule P-7:
    Declaration concerning use of special drawing rights in accordance with prescription on donations..6437-(80/37) S408
    Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178)S407
    Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S399
    Declaration concerning use of special drawing rights in accordance with prescription on pledges..6053-(79/34) S *402
    Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations6000-(79/l) S *399
    Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S406
    Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations6054-(79/34) S *404
    Rule P-9, record of operations in special drawing rights..6000-(79/l) S *399
    6001-(79/1) S401
    6053-(79/34) S *402
    6054-(79/34) S *405
    6336-(79/178) S406
    6337-(79/178) S407
    6437-(80/37) S408
    8186-(86/9)
    SBS/S395
    8239-(86/56) SAF396
    Rule R-l through R-6, rules for reconstitution, abrogation6832-(81/65)413
    Rule T-l, interest and charges in respect of SDRs8759-(87/176)*

    ESAF
    39
    SSaudi Arabia, association agreement under General Arrangements to Borrow; Borrowing by the Fund
    Transferability of claims7629-(84/25)312
    Section 22 of By-Laws, compulsory withdrawalEBM/89/100 and

    EBM/89/101
    173,183
    Special contingent account, establishment8619-(87/90)242
    Additions in FY 1988 and disposition of amounts placed in FY 1987 and FY 19888780-(88/12)242
    Special Contingent Account (SCA-2).9471-(90/98)254
    Special Disbursement Account; see Accounts
    Special drawing rights:
    Allocation for first basic period..B/G Res. 24-12527
    Allocation for third basic periodB/G Res. 34-3529
    New participants5956-(78/180) S

    6368-(79/191) S
    397

    397
    Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board538
    Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
    ..Annex342
    Designation, review of rules and method of calculating amounts6209-(79/124) S409
    Holders prescribed by the Fund:
    African Development Bank and African Development Fund8318-(86/104) S393
    Andean Reserve Fund6486-(80/77) S393
    Arab Monetary Fund6609-(80/126) S393
    Asian Development Bank7229-(82/136) S393
    Bank for International Settlements6484-(80/77) S393
    Bank of Central African States7064-(82/26) S393
    Central Bank of West African States6908-(81/101) S393
    East African Development Bank7582-(83/174) S393
    Eastern Caribbean Central Bank7707-(84/79) S393
    International Bank for Reconstruction and Development6718-(81/1) S393
    International Development Association6718-(81/1) S393
    International Fund for Agricultural Development6489-(80/77) S393
    Islamic Development Bank7086-(82/42) S393
    Nordic Investment Bank6488-(80/77) S393
    Swiss National Bank..6485-(80/77) S394
    Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S390
    Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
    Loans for Trust Fund expressed in5069-(76/72)428
    Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S388
    Payment of net charges and assessment in Special Drawing Rights Department; see Special Drawing Rights Department, payment
    Payment of subscriptions6266-(79/156)5
    Reconstitution, abrogation of rules6832-(81/65) S413
    Sale by Fund to members for use in quota payments under Seventh General Review6663-(80/160) S214
    Sale by Fund, guidelines6772-(81/35) G/S204
    7626-(84/23) S207
    7941-(85/50) S208
    8265-(86/70) S208
    8574-(87/64) S208
    SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR433
    Transfers under Article V, Section 3(f)6275-(79/158) G/S202
    Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)200
    6774-(81/35)208
    Use in donations6437-(80/37) S407
    Use in donations and loans to supplementary financing facility Subsidy Account6683-(80/185) G/TR*446
    Use in financial operations under ESAF Trust or administered account8937-(88/118)

    ESAF/S
    396
    Use in forward operations6337-(79/178) S406
    Use in loans6001-(79/l) S399
    Use in operations under structural adjustment facility8239-(86/56) SAF395
    Use in payment of charges5702-(78/39) *

    G/S
    223
    Use in payment of 25 percent of quota increasesB/G Res. 31-2482
    B/G Res. 34-2489
    B/G Res. 38-1500
    Use in payment of subsidy8186-(86/9)
    SBS/S395
    Use in payment of Trust Fund obligations8642-(87/101)
    S/TR394
    Use in pledges6053-(79/34) S *401
    Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S394
    Use in repurchases5703-(78/39)220
    5809-(78/88)221
    Use in settlement of financial obligations6000-(79/l) S *398
    Use in swap operations6336-(79/178) S405
    Use in transfers as security for performance of financial obligations6054-(79/34) S403
    Valuation basket, guidelines for calculation of currency amount8160-(85/186) G/S387
    Valuation basket, see also, valuation method
    Valuation for use in borrowing arrangements1289-(62/1) *301
    5288-(76/167)319-320
    5387-(77/61)324
    Valuation, interimB/G Res. 29-10475
    Valuation method6631-(80/145)G/S385
    9549-(90/146)G/S387
    Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S388
    Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S415
    Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
    Stand-by arrangements:
    Amendment to utilize supplementary financing7047-(82/13)

    7048-(82/13)
    161

    163
    Amounts to be made available under enlarged access policy decision, guidelines6783-(81/40)

    7600-(84/3) *
    83

    86
    Augmentation of rights to make purchases, elimination5706-(78/39)71
    Charges6838-(81/70) *100
    Conditionality, guidelines6056-(79/38)60
    Review8192-(86/13)77
    8583-(87/72)

    9790-(91/106)
    77

    78
    Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)70,420
    Foreign borrowing, performance criteria6230-(79/140)65
    Form under enlarged access policy6838-(81/70) *

    7048-(82/13)
    96

    163
    Guidelines, operational; see Performance criteria and phasing, below
    Ineligibility..270-(53/95) *59
    6838-(81/70) *99
    Publicity upon declaration of7999-(85/90)

    7931-(85/41)
    383

    383
    Misreporting and noncomplying purchases, guidelines on corrective action..7842-(84/165)68
    Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
    Noncomplying purchases; see Misreporting and noncomplying purchases, above
    Operational guidelines; see Performance criteria and phasing, below
    Overdue obligations to the Fund, purchases from Fund7908-(85/26)

    EBM/84/54
    164

    165
    Payments arrears, performance criteria3153-(70/95)359-60
    Performance criteria and phasing, operational guidelines7925-(85/38)63
    Period270-(53/95) *58
    5508-(77/127)155
    6783-(81/40)82
    Policies and procedures..270-(53/95) *59
    Provision for enlarged access to Fund’s resources6783-(81/40)81
    Provision for supplementary financing5508-(77/127)154
    6693-(80/177)160
    6725-(81/5)160
    Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)63
    Renewal270-(53/95) *59
    Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
    Suspension of right to engage in purchase transactions270-(53/95) *

    6838-(81/70) *
    59

    99
    Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize …, above
    Strengthened cooperation strategy on overdue obligations to Fund; see Overdue obligations to Fund, purchases from Fund
    Structural adjustment facility:
    Amounts of assistance8240-(86/56) *
    SAF273
    Review9809-(91/114) SAF288
    Income from investment and loans, availability of use8760-(87/176)289
    List of eligible members and amounts of assistance..8240-(86/56) *273
    Loans under ESAF8238-(86/56) * SAF271
    Regulations for administration8238-(86/56) *
    SAF266
    Chairman’s
    Summing up
    EBM/86/56275
    Review of experience, Conditionality, benchmarks, and prior actionsChairman’s
    Summing Up
    EBM/87/93284
    Review of operation8241-(86/56)
    SAF275
    8757-(87/176)
    SAF/ESAF286
    9114-(89/40)
    SAF/ESAF287
    9487-(90/106) *
    SAF/ESAF288
    9808-(91/114)
    SAF/ESAF288
    Use of SDRs in Operations8239-(86/56)
    SAF395
    Subscriptions:
    Gold and currency, ownership by Fund170-33
    Payment of quota increasesB/G Res. 31-2482
    B/G Res. 34-2490
    B/G Res. 38-1500
    Reserve Assets:
    Guidelines for determining amounts to be paid6266-(79/156)4
    Payment under Eighth General Review of QuotasB/G Res. 38-1497-98
    Subsidy Account; see Accounts, Subsidy Accounts
    Sugar Agreement, International; see Buffer stock financing facility
    Supplementary financing facility:
    Authorization to make calls under borrowing arrangements6006-(79/3)344
    Charges; see Charges
    Establishment5508-(77/127)154
    Extension of period6725-(81/5)161
    No augmentation of rights to purchase5706-(78/39)71
    Replenishment of Fund’s holdings of currencies5509-(77/127)337
    Interest payments under borrowing agreements..6163-(79/96)345
    Meaning of “Net creditor position in the Fund”6008-(79/3)345
    Report on use6445-(80/43)159
    Repurchases; see Repurchases
    Review of decision on establishment6693-(80/177)160
    6725-(81/5)160
    Subsidy Account
    Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS451
    Disbursement of additional subsidy amount for July 1, 1985 through June 30, 19878674-(87/117) SBS451
    Additional subsidy payments for May 1, 1987 through June 30, 1987 and for July 1, 1987 through June 30, 19888941-(88/122) SBS452
    Effect on subsidy cost of substituting supplementary financing for enlarged access resources7047-(82/13)163
    Instrument6683-(80/185) * TR441
    Investment of currencies6854-(81/78) *
    SBS448
    Means of payments8185-(86/9)
    SBS/S449
    Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS450
    Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS450
    Subsidy payments, July 1, 1986-June 30, 19878674-(87/117) SBS451
    Subsidy payments, July 1, 1987-June 30, 19888941-(88/122) SBS452
    Subsidy payments, July 1, 1988-June 30, 19899222-(89/97) SBS453
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS448
    Subsidy payments, May 1-June 30, 1989 and July 1, 1989-June 30, 19909510-(90/122) SBS453
    Subsidy payments, May 1-June 30, 1990 and July 1, 1990-June 30, 19919788-(91/105) SBS454
    Transferability of claims; see Transferability of claims
    Utilization of supplementary financing facility for enlarged access resources7047-(82/13)161
    7048-(82/13)163
    Surveillance over exchange rate policies5392-(77/63) *8
    8248-(86/60)14
    8857-(88/64)15
    9499-(90/lll)15
    Enhanced surveillance; see Enhanced surveillance
    Operational guidance; see Procedures, implementation of three-month period
    Surveillance over exchange rate policies (continued): Procedures, implementation of three-month period7427-(83/83)18
    9637-(91/15)22
    Chairman’s
    Remarks
    EBM/91/1522
    Review of procedures6026-(79/13)13
    7645-(84/40)14
    7939-(85/49)16
    8249-(86/60)16
    8563-(87/59)17
    8857-(88/64)15
    8858-(88/64)17
    9499-(90/111)17
    Swiss National Bank:
    Borrowing agreements with Fund5288-(76/167)318
    5387-(77/61)323
    Transfer charges and interest, media of payment5306-(77/2)328
    5331-(77/15)327
    5488-(77/116)328
    Use of special drawing rights to repay indebtedness6485-(80/77) S394
    Participation in General Arrangements to Borrow1289-(62/1) *304
    Prescription as holder of special drawing rights6485-(80/77) S394
    Transferability of claims under General Arrangements to Borrow7628-(84/25)311
    Switzerland:
    Association with General Arrangements to Borrow1712-(64/29)313
    TTechnical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)371
    Tin Agreements, International; see Buffer stock financing facility
    Trade, Voluntary Declaration4254-(74/75)

    B/G Res. 29-10
    373

    474
    Tranche policies:
    Application in connection with decision on enlarged access6783-(81/40)81-82
    Application in connection with supplementary financing facility5508-(77/127)158
    Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)419-20
    Fund attitude to request for transactions within “first credit tranche” and beyond60
    Transferability of claims:
    General Arrangements to Borrow1289-(62/1) *

    7628-(84/25)
    301

    310
    Saudi Arabia’s borrowing agreement7629-(84/25)312
    Transitional provisions of Article XIV117-1384
    1034-(60/27)358
    Trust Fund:
    Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)424
    5709-(78/41)
    TR434
    5832-(78/95)
    TR435
    6540-(80/98)
    TR439
    Diversification of investments5972-(78/189)433
    5973-(78/189)
    TR433
    Eligible members, review of list..5563-(77/150) TR432
    Final payments of profits and loans for period July 1, 1976-June 30, 19785832-(78/95)
    TR434
    Instrument5069-(76/72)424
    Amendment5563-(77/150)
    TR432
    5972-(78/189)433
    6793-(81/45)441
    Means of payment of interest6358-(79/188) TR*437
    Means of repayment by members on their indebtedness under loan agreements7142-(82/85) *
    TR437
    Overdue interest and special charges8165-(85/189) *
    G/TR438
    Repayment terms:
    Final loan disbursement6793-(81/45)441
    Second period:
    Extension6466-(80/68)
    TR435
    6676-(80/168)
    TR436
    Extension of period for qualification6202-(79/121)
    TR435
    Timing of loan disbursements6201-(79/121)
    TR435
    Special charges on overdue interest8165-(85/189) *
    G/TR438
    Termination and transfer of resources to Special Disbursement Account6683-(80/185)
    G/TR442
    6704-(80/185) TR439
    UUnenforceability; see Exchange contracts
    United Nations:
    Agreement with International Monetary Fund543
    Convention on the Privileges and Immunities of the Specialized Agencies550
    Application to Fund, Annex V568
    List of members which have accepted with respect to Fund569
    General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6-8462
    United States dollars:
    Determination of value in terms of special drawing right pursuant to Rule O-2(b)6709-(80/189) S388
    Inclusion in operational budgets..6772-(81/35)
    G/S205
    Use for payment of interest and other Fund liabilities5288.(76/167)320
    5306-(77/2)328
    5331-(77/15)328
    5387-(77/61)326
    5488-(77/116)328
    6358-(79/188) *
    TR437
    Use for repayments by members on their indebtedness under Trust Fund loan agreements7142-(82/85) *
    TR437
    Use in payments under oil facility Subsidy Account..7420-(83/82)457
    7484-(83/117)458
    Use in payments under supplementary financing facility Subsidy Account7754-(84/108) SBS449
    Use of Fund’s resources (see also Borrowing by the Fund; Charges; Extended arrangements;
    Purchase transactions; Stand-by arrangements):
    Application of same policy for stand-by arrangements as for requests for immediate drawings270-(53/95) *59
    Authority to use resources of Fund, Interpretation of Articles of Agreement71-255
    Buffer stock financing2772-(69/47) *144
    Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)148
    Buffer stock financing facility as applied to
    International Tin Agreements:
    Fourth3179-(70/102)145
    3351-(71/51)145
    Fifth5127-(76/91)146
    Sixth7247-(82/147)147
    Capital transfers1238-(61/43)55
    Compensatory and contingency financing facility8955-(88/126) *106
    Conditionality, guidelines6056-(79/38)60
    Review8192-(86/13)77
    8583-(87/72)77
    9189-(89/77)78
    9790-(91/106)78
    “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-355
    Credit tranche policies; see Tranche policies
    Enlarged access, policy on6783-(81/40) *81
    Extended Fund facility4377-(74/114) *71
    “First credit tranche”.60
    In accordance with purposes of Fund102-(52/ll)56
    Ineligibility:
    Effect on purchases under extended arrangement6838-(81/70) *104
    Effect on purchases under stand-by arrangement270-(53/95) *59
    6838-(81/70) *99
    Publicity upon declaration7999-(85/90)383
    7931-(85/41)383
    Under Article V, Section 5284-3212
    Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)417
    Interpretation of Articles of Agreement71-255
    Limit on access to Fund resources, guidelines7600-(84/3) *86
    Limitation under Article V, Section 5284-3

    286-1
    212

    212
    Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
    Monetary stabilization operations71-255
    Postponement, limitation under Article V, Section 5286-1212
    “Represents” in Article V, Section 3(b)(ii), meaning of the word284-456
    Reserve tranche purchases; see Reserve tranche purchases
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request6838-(81/70) *104
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95) *

    6838-(81/70) *
    59

    99
    Stand-by and extended arrangements, forms under enlarged access policy6838-(81/70) *96
    Suspension of exchange transactions, effect on General Arrangements to Borrow1289-(62/1) *302
    Suspension of transactions under extended arrangements..6838-(81/70) *104
    Suspension of transactions under stand-by arrangements..270-(53/95) *59
    6838-(81/70) *99
    Temporary assistance in financing balance of payments deficits71-255
    Tranche policies; see Tranche policies
    Waiver of condition of Article V, Section 3(b)(iii); see Waiver of condition
    Waiver of 200 percent of quota limit …. see also Article V, Section 3(b)(iii)2772-(69/47) *144
    VVoluntary Declaration on Trade and Other Current Account Measures4254-(74/75)373
    B/G Res. 29-10474
    Voting power, elected Executive Directors, effect of change in quota180-5382
    WWaiver of condition of Article V, Section 3(b)(iii)4377-(74/114) *74
    5508-(77/127)158
    6783-(81/40)84
    8955-(88/126) *106
    World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)12

    Index to the Annex of the Fourteenth Issue

    Decision No.Page
    AAccounts:
    Borrowed Resources Suspense Accounts7188-(82/l 14)A109
    Articles of Agreement
    Article V, Section 2(b), administration of deposits provided by members8895-(88/90) ESAF

    8933-(88/117) ESAF

    9030-(88/173) ESAF
    A41

    A48

    A57
    Article VII, replenishment of Fund’s holdings of currencies6843-(81/75)A76
    Article VII, Section 1, borrowing by Fund7677-(84/64)A110
    Article XVII, Section 3, other holders of special drawing rights8831-(88/56) ESAF

    8832-(88/56) ESAF

    8833-(88/56) ESAF
    A7

    A14

    A20
    BBank for International Settlements:
    Borrowing agreement with Fund6863-(81/81)*A130
    7677-(84/64)A144
    7955-(85/60)A156
    Borrowing by the Fund:
    Agreement with Bank for International Settlements6863-(81/81)*A130
    7677-(84/64)A144
    7955-(85/60)A156
    Agreement with Bank of Korea9120-(89/40) ESAFA63
    Agreement with Bank of Norway8833-(88/56) ESAFA17
    Agreement with Bank of Spain8893-(88/90) ESAFA32
    Agreement with Caisse Centrale de Coopération Economique of France8831-(88/56) ESAFA3
    Agreement with central banks and other official institutions6864-(81/81)A133
    Agreement with Export-Import Bank of Japan8832-(88/56) ESAFA8
    Agreement with Government of Canada8894-(88/90) ESAFA37
    Agreement with Japan7677-(86/64)

    7955-(85/60)

    8486-(86/205)
    A144

    A156

    A159
    Agreement with Monetary Authority of Singapore9016-(88/164) ESAFA54
    Agreement with National Bank of Belgium7677-(84/64)A144
    7955-(85/60)A156
    Agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
    Amendment8460-(86/189)A128
    Change in conversion arrangements7188-(82/114)A109
    Supplementary Agreement7677-(84/64)A110
    Extension of commitment period8460-(86/189)A128
    Agreement with Swiss Confederation8834-(88/56) ESAFA21
    8835-(88/56)A21
    Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75)A105
    Borrowed Resources Suspense Accounts7188-(82/114)A110
    Issuance of bearer notes by Fund6843-(81/75)A76
    6864-(81/81)A133
    EEnhanced structural adjustment facility
    Associated lending agreement with Saudi Fund for Development9060-(89/5) ESAFA67
    Borrowing agreements with:
    Bank of Korea9120-(89/40) ESAFA63
    Bank of Norway8833-(88/56) ESAFA17
    Bank of Spain8893-(88/90) ESAFA32
    Caisse Centrale de Coopération Economique of France8831-(88/56) ESAFA3
    Export-Import Bank of Japan8832-(88/56) ESAFA8
    Government of Canada8894-(88/90) ESAFA37
    Monetary Authority of Singapore9016-(88/164) ESAFA54
    Swiss Confederation8834-(88/56) ESAFA21
    8835-(88/56)A21
    Instruments for administered accounts: Austria8895-(88/90)
    ESAFA41
    Belgium8933-(88/117)
    ESAFA48
    Greece9030-(88/173)
    ESAFA57
    Investment with subsidy account, Bank Negara Malaysia8892-(88/90) ESAFA27
    Enlarged access, policy on Borrowing agreement with Bank for International Settlements6863-(81/81)A130
    7677-(84/64)A144
    7955-(85/60)A156
    Borrowing agreement with Japan7677-(84/64)A144
    7955-(85/60)A156
    8486-(86/205)A159
    Borrowing agreement with National Bank of Belgium7677-(84/64)A144
    Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
    Amendment8460-(86/189)A128
    Change in conversion arrangements7188-(82/114)A109
    Supplementary agreement7677-(84/64)A110
    Borrowing from central banks and other official institutions6864-(81/81)A133
    IInterest:
    Payment on Fund indebtedness to Bank for International Settlements6863-(81/81)*A132
    Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)A135
    Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)A80
    MManaging Director:
    Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
    RRepayment by Fund of borrowed currency6843-(81/75)A76
    6864-(81/81)A133
    SSaudi Arabian Monetary Agency, borrowing agreement with Fund6843-(81/75)A76
    Amendment8460-(86/189)A128
    Change in conversion arrangements7188-(82/114)A109
    Supplementary agreement7677-(84/64)A110
    Extension of commitment period8460-(86/189)A128
    Special drawing rights
    Valuation for use in borrowing arrangements6843-(81/75)A81
    UUnited States dollars:
    Use for payment of interest and other Fund liabilities6863-(81/81)*A130

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

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

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