Selected Decisions, 20th Ed. 1995
Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
June 1995
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    SELECTED DECISIONS

    AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    TWENTIETH ISSUE WASHINGTON, DC June 30, 1995

    Preface

    This volume is the Twentieth 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; an updated Annex containing bilateral borrowing agreements and related decisions in force on June 30, 1995 is under preparation. 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 Nineteenth Issue that remain in effect, as well as new general decisions adopted after the publication of the Nineteenth 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
    2-1378
    71-263, 303
    117-1382
    170-33
    180-5379
    237-2359
    284-3222
    284-464
    286-1222
    287-363
    408-23
    446-4346
    534-3376
    574-2, as amended by 2620-(68/141)378
    597-4379
    102-(52/11)64
    144-(52/51)348
    201-(53/29)351
    270-(53/95), as amended by 876-(59/15) and 1151-(61/6)91
    343-(54/47)415
    433-(55/42)349
    541-(56/39)304
    649-(57/33)366
    876-(59/15), see 270-(53/95) 955-(59/45)353
    1034-(60/27)354
    1151-(61/6), see 270-(53/95)
    1238-(61/43)63, 303
    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)305
    1362-(62/32), see 1289-(62/1)
    1415-(62/47) see 1289-(62/1)
    2620-(68/141), see 574-2
    2772-(69/47), as amended by 4913-(75/207) 7602-(84/3), and 10183-(92/132)176
    3153-(70/95)356
    3179-(70/102)177
    3351-(71/51)178
    4134-(74/4)358
    4239-(74/67)233
    4254-(74/75)370
    4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), 8885-(88/89), 10182-(92/132), and 10186-(92/132)104
    4421-(74/132), see 1289-(62/1)
    4913-(75/207), see 2772-(69/47)
    5069-(76/72)421
    5127-(76/91)178
    5220-(76/144)108
    5371-(77/51)417
    5392-(77/63), as amended by 8564-(87/59) 8856-(88/64) and 10950-(95/37)9
    5508-(77/127)203, 417
    5509-(77/127)333
    5563-(77/150) TR430
    5590-(77/163)271
    5591-(77/163)416
    5597-(77/171)181
    5694-(78/35), see 4773-(75/136)
    5702-(78/39) G/S as amended by 7096-(82/57)G/S233
    5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)229
    5704-(78/39)225
    5706-(78/39)104
    5709-(78/41)TR432
    5712-(78/41)7
    5719-(78/46)420
    5792-(78/79), see 1289-(62/1)
    5809-(78/88)231
    5832-(78/95)TR432
    5956-(78/180)S395
    5972-(78/189)TR430
    5973-(78/189)TR431
    6000-(79/1)S, as amended by 6438-(80/37)S396
    6001-(79/1)S397
    6006-(79/3)340
    6008-(79/3)341
    6026-(79/13), as amended by 10273- (93/15) and 10364-(93/67)13
    6053-(79/34)S, as amended by 6438-(80/37)S399
    6054-(79/34)S, as amended by 6438-(80/37)S401
    6056-(79/38)93
    6163-(79/96)341
    6172-(79/101)226
    6201-(79/121)TR433
    6202-(79/121)TR433
    6209-(79/124)S407
    6230-(79/140)98
    6241-(79/144), see 1289-(62/1)
    6266-(79/156)4
    6273-(79/158)G/S209
    6274-(79/158)210
    6275-(79/158)G/S212
    6336-(79/178) S403
    6337-(79/178) S404
    6339-(79/179), see 4377-(74/114)
    6352-(79/183)212
    6358-(79/188)TR, as amended by 8640-(87/101) S/TR434
    6368-(79/191)S395
    6437-(80/37)S405
    6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S 6466-(80/68)TR433
    6467-(80/71)S388
    6484-(80/77)S390
    6486-(80/77)S391
    6487-(80/77)S391
    6488-(80/77)S391
    6489-(80/77)S391
    6540-(80/98)TR435
    6609-(80/126)S391
    6631-(80/145)G/S383
    6663-(80/160)S224
    6676-(80/168)TR434
    6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS438
    6704-(80/185)TR273, 436
    6709-(80/189) S386
    6718-(81/1)S391
    6772-(81/35)G/S214
    6774-(81/35)218
    6783-(81/40), as amended by 8885-(88/89)191, 418
    6790-(81/43)367
    6793-(81/45)437
    6830-(81/65), see also 4377-(74/114)103, 104, 417
    6831-(81/65), as amended by 7059-(82/23)231
    6832-(81/65)S411
    6844-(81/75)343
    6845-(81/75)343
    6854-(81/78)SBS, as amended by 8184-(86/9)SBS444
    6862-(81/81), see 5703-(78/39)
    6870-(81/83), see 6863-(81/81)
    6908-(81/101)S391
    6925-(81/112), see 6863-(81/81)
    7041-(82/8)G/S412
    7059-(82/23), see 6831-(81/65)
    7060-(82/23)418
    7064-(82/26)S391
    7086-(82/42)S391
    7096-(82/57)G/S, see 5702-(78/39)G/S
    7116-(82/68)S413
    7142-(82/85)TR as amended by 8640-(87/101)S/TR435
    7229-(82/136)S391
    7246-(82/147)183
    7247-(82/147)179
    7337-(83/37), see 1289-(62/1)
    7403-(83/73)323
    7427-(83/83)17
    7558-(83/156)108
    7582-(83/174)S391
    7589 (83/181)345
    7602-(84/3), see 2772-(69/47)
    7626-(84/23)S217
    7628-(84/25)320
    7629-(84/25)321
    7704-(84/78)232
    7707-(84/79)S391
    7754-(84/108)SBS445
    7842-(84/165)101
    7857-(84/175)109
    7908-(85/26)66
    7925-(85/38), as amended by 8887-(88/89)95
    7931-(85/41)380
    7941-(85/50)S217
    7989-(85/81)445
    7990-(85/81)273
    7999-(85/90)380
    8029-(85/105)274
    8037-(85/110)SBS446
    8160-(85/186)G/S385
    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, 10352-(93/49)G/TR, and 10551-(94/1)G/TR234
    8184-(86/9)SBS, see 6854-(81/78)SBS
    8185-(86/9)SBS/S445
    8186-(86/9)SBS/S392
    8192-(86/13)109
    8222-(86/45)49
    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)SAF274
    8239-(86/56) SAF393
    8240-(86/56)SAF, as amended by 8542-(87/36)SAF, 8651-(87/105)SAF, 8935-(88/118)SAF, 9117-(89/40)SAF 9986-(92/48)SAF, and 10184-(92/132)SAF275
    8241-(86/56)SAF284
    8265-(86/70)S217
    8271-(86/74)237
    8318-(86/104)S391
    8348-(86/122), as amended by 8481-(86-202) and (86/202)238
    8433-(86/175)234
    8442-(86/178)238
    8481-(86/202), see 8348-(86/122)
    8482-(86/202), see 8348-(86/122)
    8492-(87/1)SBS446
    8496-(87/3)G/TR, see 8165-(85/189)G/T
    8497-(87/3)SAF, see 8238-(86/56)SAF
    8523-(87/25)SBS see also 6683-(80/185)G/TR447
    8542-(87/36)SAF, see 8240-(86/56)SAF
    8564-(87/59), see 5392-(77/63)
    8574-(87/64)S218
    8583-(87/72)110
    8619-(87/90)244
    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/TR392
    8651-(87/105)SAF, see 8240-(86/56)SAF
    8652-(87/105)SAF, see 8238-(86/56)SAF
    8674-(87/117)SBS448
    8733-(87/159)316
    8757-(87/176) SAF/ESAF, as amended by 9987-(92/48) SAF/ESAF295
    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, 10287-(93/23)ESAF, 10515-(93/162)ESAF 10530-(93/170)ESAF and 10532-(93/170)ESAF22
    8760-(87/176) as amended by 9989-(92/48) and 10531-(93/170)SAF298
    8780-(88/12)245
    8845-(88/61)ESAF as amended by 9988-(92/49)ESAF, and 10185-(93/132)ESAF 10533-(93/170)ESAF47
    8846-(88/61)ESAF48
    8856-(88/64) see 5392-(77/63)
    8861-(88/67), as amended by 8880-(88/84)246
    8880-(88/84), see 8861-(88/67)
    8885-(88/89), see 4377-(74/114) and 6783-(81/40)
    8887-(88/89), see 7925-(85/38) 8897-(88/93)330
    8923-(88/110) G/TR see 8165-(85/189) G/TR
    8935-(88/118)SAF, see 8240-(86/56)SAF
    8937-(88/118)ESAF/S393
    8941-(88/122)SBS, see also 6683-(80/185)G/TR448
    8955-(88/126) as amended by137, 416
    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), 10398-(93/89), and 10725-(94/58) see also 5703- (78/39) and 9101-(89/30)137
    9028-(88/71), see 7599-(84/3) 7600-(84/3)
    9056-(89/2)ESAF48
    9101-(89/30), see 8955-(88/126)
    9114-(89/40)SAF/ESAF296
    9115-(89/40)ESAF, see 8759-(87/176)ESAF
    9116-(89/40)ESAF298
    9117-(89/40)SAF, see 8240-(86/56)SAF
    9118-(89/40)SAF, see 8238-(86/56)SAF
    9135-(89/46)250
    9153-(89/59) see 8955-(88/126)
    9189-(89/77)110
    9222-(89/97)SBS449
    9326-(89/167) see 7599-(84/3) and 7600-(84/3)
    9331-(89/167) as amended by 9693-(91/48), 10056-(92/78) and 10547-(94/1)132
    9391-(90/43) see 8955-(88/126)
    9403-(90/53)185
    9471-(90/98) as amended by 10341-(93/54)253
    9476-(90/101), see 7599-(84/3) and 7600-(84/3)
    9487-(90/106)SAF/ESAF as amended by 9776-(91/96) SAF/ESAF296
    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
    9503-(90/114), see 8955-(88/126)
    9510-(90/122)SBS450
    9549-(90/146)G/S385
    9555-(90/146)ESAF, see 8759-(87/176) ESAF
    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)
    9604-(90/170), see 8955-(88/126)
    9693-(91/48), see 9331 -(89/167)
    9776-(91/96) SAF/ ESAF, see 9487- (90/106) SAF/ESAF
    9788-(91/105)450
    9790-(91/106)111
    9808-(91/114)SAF/ ESAF296
    9809-(91/114) SAF297
    9862-(91/156)344
    9863-(91/156)SAF/ESAF, see 8238-(86/56) SAF
    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)
    10000-(92/58) G/TR see 8165-(85/189)G/TR
    10056-(92/78), see 9331-(89/167)
    10071-(92/85), see 8955-(88/126)
    10072-(92/85), see 9499-(90/111)
    10089-(92/94) SAF/ESAF297
    10090-(92/24) SAF297
    10092-(92/94) ESAF, see 8759-(87/176)ESAF
    10093-(92/94), see 8328-(86/56) SAF
    10159-(92/122), see 9499-(90/111)
    10168-(92/127)16
    10175-(92/129), see 1289-(62/1)
    10176-(92/129)316
    10181-(92/132)195
    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) and 8955-(88/126)177
    10225-(92/147) S392
    10235-(92/149)332
    10273-(93/15), see also 6026-(79/13)16
    10278-(93/19) S218
    10279-(93/19)215
    10286-(93/23) ESAF301
    10287-(93/23) ESAF see 8759-(87/176)
    10305-(93/32)380
    10337-(93/49) G/TR see 8165-(85/189) G/TR
    10340-(93/54), as amended by 10549- (94/1)256
    10341-(93/54), see 9471-(90/98)
    10348-(93/61) STF as amended by 10760-(94/71) STF and 10855-(94/109) STF186, 419
    10352-(93/49) G/TR see 8165-(93/49) G/TR
    10353-(93/49) SAF see 8238-(86/56)SAF
    10362-(93/67)17
    10364-(93/67), see 6026-(79/13)
    10365-(93/67)53
    10391-(93/86), as amended by 10552-(94/1) and 10554-(94/1)259
    10398-(93/89), see 8955-(88/126)
    10464-(93/130)112
    10500-(93/148)195
    10515-(93/162)ESAF see 8759-(87/176) ESAF
    10530-(93/179)ESAF see also 8759-(89/176) ESAF39
    10531-(93/170)SAF see also 8760-(87/176)300
    10532-(93/170)ESAF, see 8759-(87/176) ESAF
    10533-(93/170) ESAF, see 8845-(88/61)ESAF
    10534-(93/170)ESAF48
    10535-(93/170)SAF 39, 283
    10547-(94/1), see 9331-(89/167)
    10549-(94/1), see 10340-(93/54)
    10551-(94/1)G/TR, see 8165-(85/189)G/TR
    10552-(94/1), see 10391-(93/86)
    10554-(94/1), see 10391-(93/86)
    10575-(94/4)572
    10597-(94/14)ESAF39
    10598-(94/14)SAF283
    10660-(94/38)260
    10662-94/38)255
    10704-(94/52262
    10705-(94/52)262
    10706-(94/52)264
    10723-(94-58)111
    10725-(94/58), see 8955-(88/126)
    10749-(94/67)350
    10760-(94/71) STF see 10348-(93/61) STF190
    10819-(94/95)196
    10850-(94/107)263
    10855-(94/109) STF see 10348-(93/61) STF190
    10873-(95/1)283
    10886-(95/2)16
    10904-(95/13)217
    10942-(95/33)59
    10949-(95/37)16
    10950-(95/37)9
    10957-(95/40)267
    10958-(95/40)267
    10961-(95/41)190
    10962-(95/41)270
    10989-(95/53) SAF283
    11018-(95/62)517
    11027-(95/65) ESAF47

    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-6454
    6-8455
    24-12527
    29-1391
    29-7457
    29-8457
    29-9461
    29-10466
    31-2476
    34-2483
    34-3536
    38-1493
    43-1499
    44-1502
    44-5505
    45-1508
    45-2516
    48-2457
    48-3523
    48-4461
    50-1526

    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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