Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
June 1993
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    SELECTED DECISIONS

    AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    EIGHTEENTH ISSUE

    WASHINGTON, DC

    JUNE 30, 1993

    Preface

    This volume is the Eighteenth 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 Eighteenth 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 the decisions published in the Seventeenth Issue that remain in effect, as well as new general decisions adopted after the publication of the Seventeeth 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
    2-1399
    71-257
    117-1403
    170-33
    180-5400
    237-2380
    284-3220
    284-458
    286-1220
    287-357
    408-23
    446-4368
    534-3397
    574-2, as amended by 2620-(68/141)399
    597-4400
    102-(52/11)58
    144-(52/51)370
    201-(53/29)372
    270-(53/95), as amended by 876-(59/15) and 1151-(61/6)60
    343-(54/47)436
    433-(55/42)371
    541-(56/39)310
    649-(57/33)388
    876-(59/15), see 270-(53/95)
    955-(59/45)374
    1034-(60/27)375
    1151-(61/6), see 270-(53/95)
    1238-(61/43)57
    1289-(62/1), as amended by 1362-(62/32), 1415-(62/47), 4421-(74/132), 5792-(78/79), 6241-(79/144), 7337-(83/37), and 10175-(92/129)311
    1362-(62/32), see 1289-(62/1)
    1415-(62/47) see 1289-(62/1)
    1712-(64/29)329
    2620-(68/141), see
    574-2
    2772-(69/47), as amended by 4913-(75/207) 7602-(84/3), and 10183-(92/132)147
    3153-(70/95)377
    3179-(70/102)149
    3351-(71/51)150
    4134-(74/4)379
    4239-(74/67)231
    4254-(74/75)391
    4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), 8885-(88/89), 10182-(92/132), and 10186-(92/132)73
    4421-(74/132), see 1289-(62/1)
    4720-(75/114)231
    4773-(75/136), as amended by 5694-(78/35)473
    4913-(75/207), see 2772-(69/47)
    5069-(76/72)442
    5127-(76/91)150
    5220-(76/144), as amended by 7558-(83/156), 7857-(84/175), 8192-(86/13), 8583-(87/72), 9189-(89/77) 9790-(91/106)77
    5288-(76/167)334
    5306-(77/2)344
    5331-(77/15)343
    5371-(77/51)438
    5387-(77/61)339
    5392-(77/63), as amended by 8564-(87/59) and 8856-(88/64)8
    5488-(77/116)344
    5508-(77/127)162,438
    5509-(77/127)355
    5563-(77/150) TR451
    5590-(77/163)277
    5591-(77/163)437
    5597-(77/171)153
    5694-(78/35), see 4773-(75/136)
    5702-(78/39) G/S as amended by 7096-(82/57)G/S231
    5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)227
    5704-(78/39)223
    5706-(78/39)73
    5709-(78/41)TR453
    5712-(78/41)7
    5719-(78/46)441
    5792-(78/79), see 1289-(62/1)
    5809-(78/88)229
    5832-(78/95)TR453
    5956-(78/180)S416
    5972-(78/189)TR451
    5973-(78/189)TR452
    6000-(79/1)S, as amended by 6438-(80/37)S417
    6001-(79/1)S418
    6006-(79/3)362
    6008-(79/3)362
    6026-(79/13), as amended by 10273-(92 and 10364-(93/67)1/15) 13
    6053-(79/34)S, as amended by 6438-(80/37)S420
    6054-(79/34)S, as amended by 6438-(80/37)S422
    6056-(79/38)62
    6163-(79/96)363
    6172-(79/101)224
    6201-(79/121)TR454
    6202-(79/121)TR454
    6209-(79/124)S428
    6230-(79/140)67
    6241-(79/144), see 1289-(62/1)
    6266-(79/156)4
    6273-(79/158)G/S207
    6274-(79/158)208
    6275-(79/158)G/S210
    6336-(79/178) S424
    6337-(79/178) S425
    6339-(79/179), see 4377-(74/114)
    6352-(79/183)210
    6358-(79/188)TR, as amended by 8640-(87/101) S/TR456
    6368-(79/191)S416
    6437-(80/37)S426
    6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S
    6445-(80/43)167
    6466-(80/68)TR454
    6467-(80/71)S409
    6484-(80/77)S411
    6486-(80/77)S412
    6487-(80/77)S412
    6488-(80/77)S412
    6489-(80/77)S412
    6540-(80/98)TR458
    6609-(80/126)S412
    6631-(80/145)G/S404
    6663-(80/160)S222
    6676-(80/168)TR455
    6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS460
    6693-(80/177)168
    6704-(80/185)TR279,458
    6709-(80/189) S407
    6718-(81/1)S412
    6725-(81/5)169
    6772-(81/35)G/S212
    6774-(81/35)216
    6783-(81/40), as amended by 8885-(88/89)83,439
    6790-(81/43)389
    6793-(81/45)459
    6830-(81/65), see also 4377-(74/114)73,439
    6831-(81/65), as amended by 7059-(82/23)229
    6832-(81/65)S432
    6838-(81/70), as amended by 7048-(82/13), 7688-(84/70), and 7908-(85/26) 9931-(89/167) and 9693-(91/48)99
    6844-(81/75)364
    6845-(81/75)365
    6854-(81/78)SBS, as amended by 8184-(86/9)SBS467
    6862-(81/81), see 5703-(78/39)
    6870-(81/83), see 6863-(81/81)
    6908-(81/101)S412
    6925-(81/112), see 6863-(81/81)
    7041-(82/8)G/S433
    7047-(82/13)169
    7048-(82/13), see also 6838-(81/70)171
    7059-(82/23), see 6831-(81/65)
    7060-(82/23)439
    7064-(82/26)S412
    7086-(82/42)S412
    7096-(82/57)G/S, see 5702-(78/39)G/S
    7116-(82/68)S434
    7142-(82/85)TR as amended by 8640-(87/101)S/TR456
    7229-(82/136)S412
    7246-(82/147)155
    7247-(82/147)151
    7337-(83/37), see 1289-(62/1)
    7403-(83/73)345
    7420-(83/82)476
    7427-(83/83)18
    7484-(83/117)476
    7558-(83/156)78
    7582-(83/174)S412
    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)87
    7600-(84/3), as amended by 7841-(84/165), 8147-(55/177), 8459-(86/189), 8744-(87/166), 9028-(88/171), 9326-(89/167), and 9476-(90/101), 9584-(90/161)88
    7602-(84/3), see 2772-(69/47)
    7626-(84/23)S215
    7628-(84/25)326
    7629-(84/25)327
    7645-(84/40)15
    7688-(84/70), see 6838-(81/70)
    7704-(84/78)230
    7707-(84/79)S412
    7754-(84/108)SBS468
    7841-(84/165), see 7599-(84/3) and 7600-(84/3)
    7842-(84/165)70
    7857-(84/175)78
    7908-(85/26) [see also 6838-(81/170)172
    7925-(85/38), as amended by 8887-(88/89)65
    7931-(85/41)401
    7941-(85/50)S215
    7989-(85/81)467
    7990-(85/81)279
    7999-(85/90)401
    8029-(85/105)280
    8037-(85/110)SBS468
    8147-(85/177), see 7599-(84/3) and 7600-(84/3)
    8160-(85/186)G/S406
    8165-(85/189)G/TR as amended by 8496-(87/3)G/TR, 8641-(87/101)G/TR, 8923-(88/110)G/TR, 10000-(92/58)G/TR, 10337-(93/49)G/TR, and 10352-(93/49)G/TR237,458
    8184-(86/9)SBS, see 6854-(81/78)SBS
    8185-(86/9)SBS/S467
    8186-(86/9)SBS/S413
    8192-(86/13)78
    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, 9490-(90/106)SAF, 9863-(91/156)SAF/ ESAF, 10093-(92/94)SAF and 10353-(93/49)SAF280
    8239-(86/56) SAF414
    8240-(86/56)SAF, as amended by 8651-(87/105)SAF, 8935-(88/118)SAF, 9117-(89/40)SAF 9986-(92/48)SAF, and 10184-(92/132)SAF288
    8241-(86/56)SAF290
    8248-(86/60)15
    8265-(86/70)S215
    8271-(86/74)241
    8318-(86/104)S412
    8348-(86/122), as amended by 8481-(86-202) and 8482-(86/202)242
    8433-(86/175)237
    8442-(86/178)242
    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)SBS469
    8496-(87/3)G/TR, see 8165-(85/189)G/TR
    8497-(87/3)SAF, see 8238-(86/56)SAF
    8515-(87/23)249
    8523-(87/25)SBS see also 6683-(80/185)G/TR470
    8542-(87/36)SAF288
    8564-(87/59), see 5392-(77/63)
    8574-(87/64)S216
    8583-(87/72)79
    8618-(87/90)250
    8619-(87/90)251
    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/TR413
    8648-(87/104)102,107
    8651-(87/105)SAF, see 8240-(86/56)SAF
    8652-(87/105)SAF, see 8238-(86/56)SAF
    8674-(87/117)SBS470
    8733-(87/159)322
    8744-(87/166), see 7599-(84/3) and 7600-(84/3)
    8757-(87/176) SAF/ESAF, as amended by 9987-(92/48) SAF/ESAF301
    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)ESAF, 10092-(92/94)ESAF, and 10287-(93/23)ESAF,26
    8760-(87/176) as amended by 9989-(92/48)305
    8780-(88/12)252
    8781-(88/12)250
    8845-(88/61)ESAF as amended by 9988-(92/49)ESAF, and 10185-(93/132)ESAF49
    8846-(88/61)ESAF49
    8856-(88/64) see 5392-(77/63)
    8857-(88/64)15
    8858-(88/64)16
    8861-(88/67), as amended by 8880-(88/84)253
    8878-(88/84)249
    8879-(88/84)250
    8880-(88/84), see 8861-(88/67)
    8885-(88/89), see 4377-(74/114) and 6783-(81/40)
    8886-(88/89)89
    8887-(88/89), see 7925-(85/38)
    8897-(88/93)351
    8898-(88/90)232
    8923-(88/110) G/TR see 8165-(85/189) G/TR
    8935-(88/118)SAF, see 8240-(86/56)SAF
    8936-(88/118)257
    8937-(88/118)ESAF/S414
    8941-(88/122)SBS, see also 6683-(80/185)G/TR471
    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),
    9604-(90/170),
    10071-(92/85),
    10183-(92/132),
    10186-(92/132), and
    10398-(93/89)
    109, 437
    9028-(88/71), see 7599-(84/3) 7600-(84/3)
    9056-(89/2)ESAF49
    9101-(89/30), see 8955-(88/126)
    9114-(89/40)SAF/ESAF302
    9115-(89/40)ESAF, see 8759-(87/176)ESAF
    9116-(89/40)ESAF305
    9117-(89/40)SAF, see 8240-(86/56)SAF
    9118-(89/40)SAF, see 8238-(86/56)SAF
    9135-(89/46) 9153-(89/59) see 8955-(88/126)257
    9186-(89/74)232
    9189-(89/77)79
    9222-(89/97)SBS472
    9326-(89/167) see 7599-(84/3) and 7600-(84/3)
    9331-(89/167) as amended by 9693-(91/48), 10056-(92/78)202
    9403-(90/53)156
    9410-(90/62)260
    9454-(90/89)251
    9457-(90/89)233
    9471-(90/98)263
    9476-(90/101), see 7599-(84/3) and 7600-(84/3)
    9487-(90/106)SAF/ESAF as amended by 9776-(91/96)SAF/ESAF303
    9488-(90/106)ESAF see 8759-(87/176) ESAF
    9490-(90/106)SAF, see 8238-(86/56)SAF
    9499-(90/111), as amended by 10072-(92/85) and 10159-(92/122)15,17
    9503-(90/114), see 8955-(88/126)
    9510-(90/122)SBS472
    9546-(90/145)90
    9549-(90/146)G/S406
    9555-(90/146)ESAF, see 8759-(87/176) ESAF
    9584-(90/161), see 7600-(84/3)
    9585-(90/161)ESAF, see 8759-(87/176)ESAF
    9586-(90/161), see 8955-(88/126)
    9587-(90/161), see 8955-(88/126)
    9588-(90/161), see 8955-(88/126)
    9603-(90/170)234
    9604-(90/170), see 8955-(88/126)
    9693-(91/48), see 9331-(89/167), 6838-(87/60)
    9696-(91/49)266
    9723-(91/63) G/TR240
    9749-(91/77)251
    9751-(91/77)234
    9776-(91/96) SAF/ ESAF, see 9487-(90/106) SAF/ ESAF
    9788-(91/105)473
    9790-(91/106)80
    9808-(91/114)SAF/ ESAF303
    9809-(91/114) SAF304
    9862-(91/156)366
    9863-(91/156)SAF/ESAF, see 8238-(86/56) SAF
    9874-(91/167)90
    9986-(92/48)SAF, see 8240-(86/56) SAF
    9987-(92/48) SAF/ ESAF, see 8757-(87/176) SAF/ESAF,
    9988-(92/49)ESAF, see 8845-(88/61)
    9989-(92/48) see 8760-(87/176)
    9997-(92/57)269
    9998-(92/57)269
    10000-(92/58) G/TR see 8165-(85/189)G/TR
    10038-(92/72)235
    10056-(92/78), see 9331-(89/167)
    10062-(92/82)91
    10071-(92/85), see 8955-(88/126)
    10072-(92/85), see 9499-(90/111)
    10089-(92/94) SAF/ESAF303
    10090-(92/24) SAF304
    10092-(92/94) ESAF, see 8759-(87/176)ESAF
    10093-(92/94), see 8238-(86/56) SAF
    10159-(92/122), see 9499-(90/111)
    10168-(92/127)17
    10175-(92/129), see 1289-(62/1)
    10176-(92/129)322
    10181-(92/132)92
    10182-(92/132), see
    4377-(74/114)
    10183-(92/132), see
    2722-(69/47) and 8955-(88/126)
    10184-(92/132) SAF, see
    8240-(86/56 SAF
    10185-(92/132)ESAF, see
    8845-(88/61) ESAF
    10186-(92/132), see also
    4377’-(74/’114)
    92, 148
    10224-(92/147)236
    10225-(92/147) S413
    10235-(92/149)353
    10273-(93/15), see also 6026-(79/13)17
    10278-(93/19) S216
    10279-(93/19)214
    10286-(93/23) ESAF307
    10287-(93/23) ESAF see
    also 8759-(87/176)
    10305-(93/32)401
    10337-(93/49) G/TR see 8165-(85/189) G/TR
    10340-(93/54)272
    10341-(93/54)269
    10348-(93/61) STF158,440
    10352-(93/49) G/TR see 8165-(93/49) G/TR
    10353-(93/49) SAF see 8238-(86/56)SAF
    10362-(93/67)18
    10364-(93/67), see 6026-(79/13)
    10365-(93/67)54
    10381-(93/77)523
    10391-(93/86)275
    10398-(93/89), see 8955-(88/126)
    10402-(93/90)544

    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-6481
    6-8482
    24-12552
    29-7484
    29-8484
    29-9488
    29-10493
    31-2502
    34-2510
    34-3560
    38-1520
    43-1526
    44-1529
    44-5532
    45-1535
    45-2543
    48-2484-88
    48-3550
    48-4488-92

    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))

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

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