Selected Decisions, 17th 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

    SEVENTEENTH ISSUE

    WASHINGTON, DC

    MAY 31, 1992

    Preface

    This volume is the Seventeenth 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 Seventeenth 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 Sixteenth Issue that remain in effect, as well as new general decisions adopted after the publication of the Sixteenth Issue.

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

    The General Counsel

    François P. Gianviti

    Contents

    List of Decisions by Number

    NumberPage
    2-1381
    71-255
    117-1384
    170-33
    180-5382
    237-2362
    284-3212
    284-456
    286-1212
    287-355
    408-23
    446-4350
    534-3379
    574-2, as amended by 2620-(68/141)381
    597-4382
    102-(52/11)56
    144-(52/51)352
    201-(53/29)354
    270-(53/95), as amended by 876-(59/15) and 1151-(61/6)58
    343-(54/47)417
    433-(55/42)353
    541-(56/39)293
    649-(57/33)370
    876-(59/15), see 270-(53/95)
    955-(59/45)356
    1034-(60/27)357
    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)294
    1362-(62/32), see 1289-(62/1)
    1415-(62/47) see 1289-(62/1)
    1712-(64/29)313
    2620-(68/141), see 574-2
    2772-(69/47), as amended by 4913-(75/207) and 7602-(84/3)144
    3153-(70/95)359
    3179-(70/102)145
    3351-(71/51)145
    4134-(74/4)361
    4239-(74/67)223
    4254-(74/75)373
    4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), and 8885-(88/89)71
    4421-(74/132), see 1289-(62/1)
    4720-(75/114)223
    4773-(75/136), as amended by 5694-(78/35)455
    4913-(75/207), see 2772-(69/47)
    5069-(76/72)423
    5127-(76/91)146
    5220-(76/144), as amended by 7558-(83/156), 7857-(84/175), 8192-(86/13), 8583-(87/72), 9189-(89/77) 9790-(91/106)75
    5288-(76/167)318
    5306-(77/2)328
    5331-(77/15)327
    5371-(77/51)419
    5387-(77/61)323
    5392-(77/63), as amended by 8564-(87/59) and 8856-(88/64)8
    5488-(77/116)328
    5508-(77/127)154,419
    5509-(77/127)337
    5563-(77/150) TR432
    5590-(77/163)263
    5591-(77/163)418
    5597-(77/171)148
    5694-(78/35), see 4773-(75/136)
    5702-(78/39) G/S as amended by 7096-(82/57)G/S223
    5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)219
    5704-(78/39)215
    5706-(78/39)71
    5709-(78/41)TR434
    5712-(78/41)7
    5719-(78/46)422
    5792-(78/79), see 1289-(62/1)
    5809-(78/88)221
    5832-(78/95)TR434
    5956-(78/180)S397
    5972-(78/189)TR433
    5973-(78/189)TR433
    6000-(79/1)S, as amended by 6438-(80/37)S398
    6001-(79/1)S399
    6006-(79/3)344
    6008-(79/3)345
    6026-(79/13)13
    6053-(79/34)S, as amended by 6438-(80/37)S401
    6054-(79/34)S, as amended by 6438-(80/37)S403
    6056-(79/38)60
    6163-(79/96)345
    6172-(79/101)216
    6201-(79/121)TR435
    6202-(79/121)TR435
    6209-(79/124)S409
    6230-(79/140)65
    6241-(79/144), see 1289-(62/1)
    6266-(79/156)4
    6273-(79/158)G/S199
    6274-(79/158)200
    6275-(79/158)G/S202
    6336-(79/178) S405
    6337-(79/178) S406
    6339-(79/179), see 4377-(74/114)
    6352-(79/183)202
    6358-(79/188)TR, as amended by 8640-(87/101) S/TR437
    6368-(79/191)S397
    6437-(80/37)S407
    6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S
    6445-(80/43)159
    6466-(80/68)TR435
    6467-(80/71)S390
    6484-(80/77)S392
    6485-(80/77)S394
    6486-(80/77)S393
    6487-(80/77)S393
    6488-(80/77)S393
    6489-(80/77)S393
    6540-(80/98)TR439
    6609-(80/126)S393
    6631-(80/145)G/S385
    6663-(80/160)S214
    6676-(80/168)TR436
    6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS441
    6693-(80/177)160
    6704-(80/185)TR265,439
    6709-(80/189) S388
    6718-(81/1)S393
    6725-(81/5)160
    6772-(81/35)G/S204
    6774-(81/35)208
    6783-(81/40), as amended by 8885-(88/89)81,420
    6790-(81/43)371
    6793-(81/45)441
    6830-(81/65), see also 4377-(74/114)70,419
    6831-(81/65), as amended by 7059-(82/23)221
    6832-(81/65)S413
    6838-(81/70), as amended by 7048-(82/13), 7688-(84/70), and 7908-(85/26) 9931-(89/167) and 9693-(91/48)96
    6844-(81/75)347
    6845-(81/75)347
    6854-(81/78)SBS, as amended by 8184-(86/9)SBS448
    6862-(81/81), see 5703-(78/39)
    6870-(81/83), see 6863-(81/81)
    6908-(81/101)S393
    6925-(81/112), see 6863-(81/81)
    7041-(82/8)G/S414
    7047-(82/13)161
    7048-(82/13)163
    7059-(82/23), see 6831-(81/65)
    7060-(82/23)420
    7064-(82/26)S393
    7086-(82/42)S393
    7096-(82/57)G/S, see 5702-(78/39)G/S
    7116-(82/68)S,415
    7142-(82/85)TR as amended by 8640-(87/101)S/TR437
    7229-(82/136)S393
    7246-(82/147)150
    7247-(82/147)147
    7337-(83/37), see 1289-(62/1)
    7403-(83/73)329
    7420-(83/82)457
    7427-(83/83)18
    7484-(83/117)458
    7558-(83/156)76
    7582-(83/174)S393
    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)85
    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)86
    7602-(84/3), see 2772-(69/47)
    7626-(84/23)S207
    7628-(84/25)310
    7629-(84/25)312
    7645-(84/40)14
    7646-(84/40)15
    7688-(84/70), see 6838-(81/70)
    7704-(84/78)222
    7707-(84/79)S393
    7754-(84/108)SBS449
    7841-(84/165), see 7599-(84/3) and 7600-(84/3)
    7842-(84/165)68
    7857-(84/175)76
    7908-(85/26)164
    7925-(85/38), as amended by 8887-(88/89)63
    7931-(85/41)383
    7939-(85/49)16
    7941-(85/50)S208
    7989-(85/81)448
    7990-(85/81)265
    7999-(85/90)383
    8029-(85/105)266
    8037-(85/110)SBS450
    8147-(85/175), see 7599-(84/3) and 7600-(84/3)
    8160-(85/186)G/S387
    8165-(85/189)G/TR as amended by 8496-(87/3)G/TR, 8641-(87/101)G/TR, 8923-(88/110) G/TR and 10000-(92/58)228,437
    8184-(86/9)SBS, see 6854-(81/78)SBS
    8185-(86/9)SBS/S449
    8186-(86/9)SBS/S395
    8192-(86/13)77
    8222-(86/45)51
    8238-(86/56)SAF, as amended by 8497-(87/3)SAF, 8652-(87/105)SAF, 8758-(87/176)SAF, 9118-(89/40)SAF, 9490-(90/106)SAF and 9863-(91/156)SAF/ESAF266
    8239-(86/56) SAF395
    8240-(86/56)SAF, as amended by 8651-(87/105)SAF, 8935-(88/118)SAF, 9117-(89/40)SAF, and 9986-(92/48) SAF273
    8241-(86/56)SAF275
    8248-(86/60)14
    8249-(86/60)16
    8265-(86/70)S208
    8271-(86/74)232
    8318-(86/104)S393
    8348-(86/122), as amended by 8481-(86-202) and 8482-(86/202)233
    8433-(86/175)227
    8442-(86/178)232
    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-(87/1)SBS450
    8496-(87/3)G/TR, see 8165-(85/189)G/TR
    8497-(87/3)SAF, see 8238-(86/56)
    8515-(87/23)239
    8523-(87/25)SBS see also 6683-(80/185)G/TR451
    8542-(87/36)SAF273
    8563-(87/59)17
    8564-(87/59), see 5392-(77/63)
    8574-(87/64)S208
    8583-(87/72)77
    8618-(87/90)240
    8619-(87/90)242
    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/TR394
    8648-(87/104)99,103
    8651-(87/105)SAF, see 8240-(86/56)SAF
    8652-(87/105)SAF, see 8238-(86/56)SAF
    8674-(87/117)SBS451
    8733-(87/159)307
    8744-(87/166), see 7599-(84/3)
    8757-(87/176) SAF/ESAF286
    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) as amended by 9989-(92/48)289
    8780-(88/12)242
    8781-(88/12)240
    8845-(88/61)ESAF as amended by 9988-(92/49)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)244
    8878-(88/84)240
    8879-(88/84)241
    8880-(88/84), see 8861-(88/67)
    8885-(88/89), see 4377-(74/114) and 6783-(81/40)
    8886-(88/89)87
    8887-(88/89), see 7925-(85/38)
    8897-(88/93)335
    8898-(88/90)224
    8923-(88/110) G/TR see 8165-(85/189) G/TR
    8935-(88/118)SAF, see 8240-(86/56)SAF
    8936-(88/118)247
    8937-(88/118)ESAF/S396
    8941-(88/122)SBS, see also 6683-(80/185)G/TR452
    8955-(88/126), as amended by 9101-(89/30),
    9153-(89/59), 9391-(90/43), 9503-(90/114), 9586-(90/161), 9587-(90/161), 9588-(90/161), and 9064-(90/170)106,418
    9028-(88/71), see 7599-(84/3) 7600-(84/3)
    9056-(89/2)ESAF51
    9101-(89/30), see 8955-(88/126)
    9114-(89/40)SAF/ESAF287
    9115-(89/40)ESAF, see 8759-(87/176)ESAF
    9116-(89/40)ESAF289
    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)248
    9186-(89/74)224
    9189-(89/77)78
    9222-(89/97)SBS453
    9326-(89/167) see 7599-(84/3) and 9600-(84/3)
    9331-(89/167) as amended by 9693-(91/48)194
    9403-(90/53)152
    9410-(90/62)251
    9454-(90/89)241
    9457-(90/89)225
    9471-(90/98)254
    9476-(90/101), see 7599-(84/3) and 7600-(84/3)
    9480-(90/103)206
    9487-(90/106)SAF/ESAF as amended by 9776-(91/96)SAF/ESAF288
    9488-(90/106)ESAF26
    9489-(90/106)ESAF, as amended by 9777-(91/96)ESAF49
    9490-(90/106)SAF, see 8238-(86/56)SAF
    9499-(90/lll)15,17
    9503-(90/114), see 8955-(88/126)
    9510-(90/122)SBS453
    9546-(90/145)88
    9549-(90/146)G/S387
    9584-(90/161), see 7600-(84/3)
    9585-(90/161)ESAF26
    9586-(90/161), see 8955-(88/126)
    9587-(90/161), see 8955-(88/126)
    9588-(90/161), see 8955-(88/126)
    9603-(90/170)226
    9604-(90/170), see 8955-(88/126)
    9637-(91/15)22
    9693-(91/48), see 9331-(89/167)
    9696-(91/49)256
    9723-(91/63) G/TR230
    9749-(91/77)241
    9751-(91/77)226
    9776-(91/96) SAF/ESAF, see 9487-(90/106) SAF/ESAF
    89777-(91/96) see 9489-(90/106) ESAF
    9788-(91/105)454
    9790-(91/106)78
    9808-(91/114)SAF/ESAF288
    9809-(91/114) SAF288
    9810-(91/114) ESAF50
    9862-(91/156)349
    9863-(91/156)SAF/ESAF, see 8238-(86/56) SAF
    9874-(91/16789
    9917-(92/11)207
    9986-(92/48), see 8240-(86/56) SAF
    9987-(92/48), see 8757-(87/176) SAF/ESAF
    9989-(92/48) see 8760-(87/176)
    9997-(92/57)259
    9998-(92/57)259
    10000-(92/58) G/TR see 8165-(85/189)

    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-6461
    6-8462
    24-12527
    29-7464
    29-8464
    29-9467
    29-10472
    31-2481
    34-2489
    34-3536
    38-1499
    43-1505
    44-1508
    44-5511
    45-1514
    45-2522

    Interpretations Under Article XXIX (a)

    Interpretations of Articles of Agreement (71-2)

    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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