Selected Decisions (12th Ed)
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
April 1986
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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)341
    Borrowed Resources Suspense Accounts6844-(81/75)269
    6845-(81/75)270–71
    7188-(82/114)227
    General Account; see General Resources Account, below
    General Resources Account:
    Adjustment of currency holdings of members5590-(77/163)131
    Exchange rate for Fund computations5590-(77/163)131
    Level of Fund SDR holdings, maintenance6275-(79/158)
    G/S107
    7626-(84/23) S111
    7941-(85/50) S111
    8265-(86/70) S112
    Purchase of SDRs for payment of charges*5702-(78/39)
    G/S127
    Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185)
    G/TR367–68
    Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)344, 350
    Sales of SDRs for payment of quota increases by members under 7th General Review of Quotas6663-(80/160) S116
    Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185)
    G/TR363, 364
    6704-(80/185)
    TR360, 361
    Investment7990-(85/81)132
    8029-(85/105)132
    Structural adjustment facility; see Structural adjustment facility
    Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S335–36
    Subsidy Accounts:
    Oil facility*4773-(75/136)371–73
    Final review and report on termination7420-(83/82)374
    7484-(83/117)374–75
    Supplementary financing facility:
    Instrument6683-(80/185)
    G/TR362–68
    Investment of currencies*6854-(81/78)
    SBS369
    Means of payments8185-(86/9)
    SBS/S370
    Subsidy payments, July 1, 1983–June 30, 19847754-(84/108)
    SBS370
    Subsidy payments, July 1, 1984–June 30, 19858037-(85/110)
    SBS371
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81)
    SBS369
    Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185)
    TR360–61
    Adjustment process, international, review5392-(77/63)12
    Administrative accounts; see Accounts
    Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S314
    Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S314n
    Articles of Agreement1
    Amendment, SecondB/G Res. 29–8382
    B/G Res. 29–10390
    Article I, purposes of the Fund287–323
    433-(55/42)276
    1034-(60/27)281
    *4377-(74/114)32
    *4773-(75/136)371
    5069-(76/72)344
    Article III, Section 2, adjustment of quotas408–23
    Article III, Section 2(a), general review of quotasB/G Res. 31–2399
    B/G Res. 34–2402
    B/G Res. 38–1413
    Article IV:
    Consultations5392-(77/63)9–15
    6026-(79/13)15
    6056-(79/38)26
    6790-(81/43)297
    7427-(83/83)17–18
    7646-(84/40)16
    7939-(85/49)16–17
    Exchange arrangements5392-(77/63)9–10
    5712-(78/41)8
    Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)10–11
    6026-(79/13)14–15
    Article V, Section 1*1289-(62/1)156
    Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund*1289-(62/1)153
    Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287–323
    Article V, Section 3(b)(iii), waiver*4377-(74/114)34
    5508-(77/127)43
    6783-(81/40)49
    Article V, Section 3(d):
    Sale of members’ currencies for repurchases5704-(78/39)118
    Selection of currencies in purchases6273-(79/158)
    G/S104
    6274-(79/158)105, 106
    6352-(79/183)108
    6774-(81/35)112
    Article V, Section 3(f), transfers of SDRs6275-(79/158)
    G/S107
    Article V, Section 5, limitation on use of Fund’s resources284–3115
    286–1115
    7842-(84/165)79
    Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S116
    Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)105
    6774-(81/35)112
    Article V, Section 7, repurchases*1289-(62/1)153
    *5703-(78/39)122–23
    5704-(78/39)117–18
    5809-(78/88)123
    Article V, Section 7(b), early repurchases5704-(78/39)117
    6172-(79/101)119
    6273-(79/158)
    G/S104
    Article V, Section 7(d), prompt repurchase of overcompensation under compensatory financing facility
    Article V, Section 7(i), guidelines for selection of currencies used in repurchases6274-(79/158)105, 106
    6774-(81/35)112, 113
    Article V, Section 8, media of payment of charges*5702-(78/39)
    G/S126
    Article V, Section 8(b), charges*5703-(78/39)121
    6008-(79/3)196
    7060-(82/23)341
    Article V, Section 8(b), (c), and (d), charges4239-(74/67)126
    Article V, Section 9(a), remuneration7060-(82/23)341
    Article V, Section 11, adjustment of Fund’s holdings of members’ currencies5590-(77/163)130–31
    Article V, Section 12(f)(ii), balance of payments assistance on special terms to low-income developing members in difficult circumstances6704-(80/185)
    TR361
    Article VI, Section 1, use of Fund’s resources541-(56/39)147
    1238-(61/43)23
    Article VI, Section 3, controls on capital transfers541-(56/39)147
    Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)38
    5509-(77/127)187–89
    6783-(81/40)46
    6843-(81/75)198
    Article VII, Section 1, borrowing by Fund*1289-(62/1)148
    7677-(84/64)254
    Article VIII:
    Bilateralism433-(55/42)276
    Consultations5392-(77/63)13
    Retention quotas201-(53/29)277–79
    Article VIII and Article XIV1034-(60/27)281–82
    Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)282
    Article VIII, Section 2(a):
    Payments restrictions144-(52/51)275
    3153-(70/95)283
    Article VIII, Section 2(b), unenforceability of exchange contracts446–4273
    Article VIII, Section 3, multiple currency practices237–2286, 291
    5712-(78/41)9
    6790-(81/43)296
    Article VIII, Section 7B/G Res. 34–3426
    Article IX, Section 7, privilege for communications534–3301
    Article XII, Section 3(b) (i) and 3(f)2–1303
    Article XII, Section 3(c):
    Additional appointed Executive Directors*574–2303
    Determination of member’s entitlement to appoint Executive Director7060-(82/23)341
    “The preceding two years,” meaning597–4304
    Article XIV:
    Articles VIII and XIV1034-(60/27)281–82
    Bilateralism433-(55/42)276
    Consultations5392-(77/63)13
    Retention quotas201-(53/29)277–79
    Article XIV, Section 11034-(60/27)281
    Article XIV, Section 2:
    Multiple currency practices237–2291
    Payments restrictions144-(52/51)275
    3153-(70/95)283
    Transitional arrangements446–4274
    Article XIV, Section 3117–1306
    Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S311
    6484-(80/77) S314
    6485-(80/77) S315
    6486-(80/77) S314
    7629-(84/25)167
    Article XVIII, allocation of special drawing rightsB/G Res. 24–12422
    B/G Res. 34–3424–31
    Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S316
    6368-(79/191) S316
    Article XIX, Section 2(c):
    Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S311
    Operations and transactions in special drawing rights between participants*6000-(79/1) S317
    6001-(79/1) S318
    *6053-(79/34) S320
    *6054-(79/34) S322
    6336-(79/178) S324
    6337-(79/178) S326
    6437-(80/37) S327
    Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S329
    Article XIX, Section 5(a)(i), designation plans6273-(79/158)
    G/S104
    Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S333
    Article XIX, Section 7(a),, calculation of exchange rates*1289-(62/1)155
    7041-(82/8)
    G/S334
    Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S311
    Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S336
    Article XXIIB/G Res. 34–3426
    Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S313
    Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)337
    Article XXVI, Section 3*1289-(62/1)156
    Article XXVII*1289-(62/1)157
    Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements*270-(53/95)60
    Article XXIX (a), list of interpretations under
    Article XXX (c):
    Exclusion of purchases and holdings under buffer stock facility5591-(77/163)338
    Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)338
    Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91
    Exclusion of purchases and holdings under extended facility6830-(81/65)340
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)340
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)339
    Exclusion of purchases under oil facility5371-(77/51)339
    Exclusion relating to purchases in credit tranches6830-(81/65)340
    Article XXX (f), freely usable currencies5719-(78/46)343
    Schedule B, repurchases*5703-(78/39)122–23
    5704-(78/39)118
    6008-(79/3)196
    Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)343
    Schedule F, rules for designation6209-(79/124) S330
    Schedule G, rules for reconstitution, abrogation6832-(81/65) S333
    Schedule J*1289-(62/1)156
    Schedule K*1289-(62/1)157
    5288-(76/167)176
    5387-(77/61)180
    Schedule K, paragraph 15288-(76/167)176
    5387-(77/61)180
    Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S315n
    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 currency*6831-(81/65)124
    6774-(81/35)114
    Review7704-(84/78)125
    Audit:
    Oil facility Subsidy Account*4773-(75/136)373
    Supplementary financing facility Subsidy Account6683-(80/185)
    G/TR368
    Trust Fund5069-(76/72)350
    Augmentation; see Purchase transactions, Augmentation
    BBalance of payments position:
    Assessment for assistance from Trust Fund5069-(76/72)346
    Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)
    G/S104
    Discrimination for balance of payments reasons955-(59/45)280
    Bank for International Settlements:
    Borrowing agreement with Fund*6863-(81/81)242
    7677-(84/64)254
    7955-(85/60)266
    Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78)
    SBS369
    Prescription as holder of special drawing rights6484-(80/77) S313
    Trust Fund deposits denominated in SDRs5973-(78/189)
    TR354
    Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S315n
    Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
    Bilateralism433-(55/42)276
    Borrowing by the Fund:
    Agreement with Bank for International Settlements*6863-(81/81)242
    7677-(84/64)254
    7955-(85/60)266
    Agreement with central banks and other official institutions6864-(81/81)245
    Agreement with Japan7677-(84/64)254
    7955-(85/60)266, 268
    Agreement with National Bank of Belgium7677-(84/64)254
    7955-(85/60)266, 269
    Agreement with Saudi Arabian Monetary Agency6843-(81/75)198
    Change in conversion arrangements7188-(82/114)227
    Supplementary Agreement7677-(84/64)228
    Agreement with Swiss National Bank:
    19765288-(76/167)172
    19775387-(77/61)176
    Interest, media of payment5331-(77/15)180
    5488-(77/116)181
    Transfer charges, media of payment5306-(77/2)181
    5488-(77/116)181
    Use of special drawing rights in repayment6485-(80/77) S315
    Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75)
    Annex223–25
    Borrowed Resources Suspense Accounts6844-(81/75)269
    6845-(81/75)270
    7188-(82/114)227
    Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)46–49
    General Arrangements to Borrow:
    Associated borrowing arrangements
    “Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing*7040-(82/7)271
    Saudi Arabia, association agreement7403-(83/73)182
    Transferability of claims7629-(84/25)166–68
    Swiss National Bank, participation of*1289-(62/1)159–60
    Switzerland, association of1712-(64/29)168
    Transferability of claims, see Transferability of claims
    Use of credit arrangements for nonparticipants*1289-(62/1)158–59
    Guidelines7040-(82/7)271–72
    Issuance of bearer notes by Fund6843-(81/75)199
    6864-(81/81)249, 250
    Supplementary financing facility:
    Authorization to make calls6006-(79/3)195
    Interest payment procedure6163-(79/96)196
    Meaning of “net creditor position in the Fund”6008-(79/3)196
    Replenishment of holdings of currencies5509-(77/127)187
    Subsidy Account6683-(80/185)
    G/TR362–69
    Buffer stock financing facility*2772-(69/47)94
    Access limit and review*2772-(69/47)94
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)338
    International Natural Rubber Agreement, 19797246-(82/147)102
    International Sugar Agreement, 19775597-(77/171)99
    International Tin Agreements:
    4th3179-(70/102)95
    3351-(71/51)96
    5th5127-(76/91)96
    6th7247-(82/147)97
    Repurchases*5703-(78/39)121–23
    6th International Tin Agreement7247-(82/147)98
    1977 International Sugar Agreement5597-(77/171)101
    International Natural Rubber Agreement, 19797246-(82/147)102
    CCapital transfers:
    Controls by members541-(56/39)147
    B/G Res. 29–10392
    Restrictions237–2289
    Use of Fund’s resources for1238-(61/43)23
    B/G Res. IM-6379
    Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S314n
    “Changing circumstances,” adaptation of multiple currency practices237–2293
    Charges:
    Accounting for charges from members with overdue obligations7930-(85/41)127
    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)341
    Borrowing agreements with Swiss National Bank5288-(76/167)172
    5306-(77/2)181
    5387-(77/61)176
    5488-(77/116)181
    Enlarged access policy6783-(81/40)46–49
    Extended Fund facility*4377-(74/114)32–36
    4720-(75/114)38
    *6838-(81/70)61
    Future changes4239-(74/67)126
    Interest on Trust Fund loans; see Interest
    Media of payment*5702-(78/39)
    G/S126
    Oil facility Subsidy Account; see Accounts, Subsidy Accounts
    Overdue obligations to Fund, Special Charges8165-(85/189)
    G/TR127–29, 358
    Payment by nonparticipant in Special Drawing Rights Department*5702-(78/39)
    G/S126
    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) S335
    Setoff in connection with retroactive reduction8271-(86/74)129
    Special charges on overdue obligations to Fund8165-(85/189)
    G/TR127–29
    Stand-by arrangements*6838-(81/70)65
    Supplementary financing facility5508-(77/127)43
    Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
    Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.381
    Final report and terminationB/G Res. 29–7382
    Support of extended Fund facility*4377-(74/114)32
    Voluntary Declaration of Trade on Other Current Account Measures4254-(74/75)298
    Commodities (see also Buffer stock financing facility; Compensatory financing . . .):
    Reclassification where subject to multiple currency practices237–2291, 293
    Communications, privilege for534–3301
    Compensatory financing of export fluctuations6224-(79/135)82
    Access limit6224-(79/135)83
    Cooperation, guidelines on7528-(83/140)87
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”2836-(69/87)338
    Integration of assistance with that available under decision on compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
    Repurchases*5703-(78/39)121–23
    Representation of intention to repurchase amount of overcompensation6224-(79/135)84
    Legal interpretaionEBM/82/185–86
    Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
    Access limit and review7490-(83/105)93–94
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”*6860-(81/81)91
    Repurchases*5703-(78/39)121–23
    *6860-(81/81)92
    Conditionality; see Use of Fund’s resources, Conditionally
    “Consistent with the provisions of this Agreement,” meaning in Article V, Section 3287–323
    Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8)
    G/S334
    Consultation with members:
    Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)282
    Bilateral arrangements433-(55/42)276–77
    Changes in members’ exchange arrangements, notification to Fund5712-(78/41)8
    Commodity field, attention to policies*2772-(69/47)95
    Conduct by Managing Director in interval between Article IV consultations5392-(77/63)14
    6026-(79/13)15
    Consultations under Article IV5392-(77/63)13
    6026-(79/13)15
    6056-(79/38)28
    6790-(81/43)297
    Discussions on use of Fund’s resources102-(52/11)24
    During period of extended arrangement*6838-(81/70)71
    During period of stand-by arrangement*6838-(81/70)66
    Exchange measures needing approval under Article VIII1034-(60/27)282
    Members’ policies in present circumstances4134-(74/4)285
    Multiple currency practices237–2288
    Periodic discussions under Article VIII1034-(60/27)282
    Resumption of purchases under extended arrangements*6838-(81/70)69
    Resumption of purchases under stand-by arrangements*270-(53/95)60
    *6838-(81/70)64
    Retention quotas201-(53/29)277
    Special consultations5392-(77/63)13
    Whether measure is exchange restriction1034-(60/27)282
    Consultations with prescribed holders of special drawing rights6467-(80/71) S312
    Convertibility:
    Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)282
    Approval of exchange restrictions1034-(60/27)282
    Bilateralism433-(55/42)276
    Consultation with Fund1034-(60/27)282
    Discrimination955-(59/45)280
    Multiple currency practices; see Multiple currency practices
    Retention quotas201-(53/29)277–79
    Credit tranches; see Tranche policies
    Creditworthiness, factor in determining use of Fund’s resources102-(52/11)24
    Currencies (see also Borrowing by the Fund; Covertibility; Holdings of the Fund; Investment):
    Arrangements for use in operations and transactions of FundB/G Res. 31–2401
    Composition of special drawing right6631-(80/145)
    G/S308–309
    Freely usable currencies5719-(78/46)343
    Guidelines for use in operational budgets6772-(81/35)
    G/S110
    Guidelines for use in operations and transactions of General Resources Account6273-(79/158)
    G/S104
    6274-(79/158)105–107
    6774-(81/35)112–13
    Payment of subscriptions6266-(79/156)4–7
    B/G Res. 31–2400
    B/G Res. 34–2406–407
    B/G Res. 38–1417
    Rates for computations and maintenance of value5590-(77/163)130–31
    Replenishment in connection with supplementary financing facility5509-(77/127)187
    Sale by agreement with member with outstanding purchases6274-(79/158)105–107
    6352-(79/183)108
    6774-(81/35)112–13
    Selection for payment of charges*5702-(78/39)
    G/S126
    Specified by the Fund, use in repurchases*5703-(78/39)123
    5809-(78/88)124
    Subscribed to the Fund, ownership170–33
    DDebt management policies; see External debt management policies
    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)280
    Drawings; see Purchase transactions; Use of Fund’s resources
    EEast African Development Bank, prescription as holder of special drawing rights7582-(83/174) S315n
    East Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S315n
    Enemy-occupied, former, members, introduction of multiple currency practices237–2291, 292
    Enhanced surveillanceChairman’s
    Summing up19–22
    Procedures for transmittal of staff reports8222-(86/45)19
    Chairman’s
    Summing up19–22
    Enlarged access, policy on6783-(81/40)46
    Access limits, guidelines*7600-(84/3)50–51
    Chairman’s Summing up of Dec. 2, 198352–55
    Apportionment between ordinary and borrowed resources7601-(84/3)51–52
    Borrowed Resources Suspense Accounts; see Accounts
    Borrowing agreement with Bank for International Settlements*6863-(81/81)242
    7677-(84/64)254
    Borrowing agreement with Japan7677-(84/64)254, 258
    Borrowing agreement with National Bank of Belgium7677-(84/64)254, 262
    Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)198
    Change in conversion arrangements7188-(82/114)227
    Supplementary agreement7677-(84/64)228
    Borrowing from central banks and other official institutions6864-(81/81)245
    Charges6783-(81/40)49
    Exclusion of purchases with borrowed resources and holdings under Article XXX(c)6783-(81/40)49
    Forms of stand-by and extended arrangements*6838-(81/70)61–71
    Period*7599-(84/3)49–50
    Repurchases; see Repurchases Review*7599-(84/3)50
    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/S334
    European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8)G/S334
    “Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117–1306
    237–2292
    Exchange arrangements, notification5392-(77/63)13
    5712-(78/41)8
    Exchange contracts, unenforceability446–4273–74
    Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446–4274
    Exchange controls on capital transfers541-(56/39)147
    Exchange rates:
    Borrowing arrangements by Fund*1289-(62/1)155
    Exchange rate policies of members, surveillance5392-(77/63)10
    Flexible exchange arrangements5712-(78/41)8–9
    Floating, guidelinesB/G Res. 29–10392
    Fluctuating:
    Multiple currency practices (fixed and fluctuating rates)237–2289
    Scope of transactions to be agreed with Fund237–2290
    Free markets237–2290
    Multiple currency practices arising from official action6790-(81/43)295–97
    Notification to Fund5392-(77/63)13
    5712-(78/41)8
    Pegs, notification to Fund of changes5712-(78/41)8–9
    Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S334
    Unification in multiple rate systems a basic objective of Fund649-(57/33)294
    Exchange restrictions (see also Payments restrictions):
    Approval1034-(60/27)282
    Avoidance of escalation4134-(74/4)285
    4254-(74/75)298
    Bilateralism433-(55/42)276
    Capital transactions; see Capital transfers
    Consultations with Fund1034-(60/27)282
    Discrimination955-(59/45)280
    Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)281
    Introduction1034-(60/27)281–82
    Maintenance1034-(60/27)281–82
    Multiple currency practices237–22286
    649–07/33)294
    6790-(81/43)295–97
    Payments arrears3153-(70/95)283–85
    Retention quotas201-(53/29)277–79
    Security reasons; see Payments restrictions
    Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)282
    Withdrawal, representation by Fund117–1306
    Exchange systems, avoidance of use for nonbalance of payment reasons1034-(60/27)282
    Exchange taxes237–2289, 293
    Notification to Fund5712-(78/41)9
    Exchange transactions; see Purchase transactions
    Exclusion of balances held in administrative accounts; see Accounts, Administrative accounts
    Exclusion of purchases and holdings under Fund policies; seeArticle XXX(c)
    Executive Board:
    Annual review of decision on oil facility Subsidy Account*4773-(75/136)373
    Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)14
    6026-(79/13)15
    7646-(84/40)16
    7939-(85/49)16
    Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)30
    Communication of changes in members’ exchange arrangements5712-(78/41)8
    Information on operation of buffer stocks3179-(70/102)96
    5127-(76/91)97
    5597-(77/171)101
    7246-(82/147)103
    7247-(82/147)99
    Report to Board of Governors on quota increases under General Reviews of Quotas:
    7thB/G Res. 34–2402
    8thB/G Res. 38–1413
    Review and change of rules for designation6209-(79/124) S332
    Review of broad developments in exchange rates5392-(77/63)13
    Review of decision on extended Fund facility*4377-(74/114)35
    5220-(76/144)36
    7558-(83/156)36
    7857-(84/175)37
    Review of functioning of international adjustment process5392-(77/63)12
    Review of guidelines for borrowing by Fund7040-(82/7)272
    Review of level of Fund’s SDR holdings6275-(79/158)
    G/S107
    7626-(84/23) S111
    7941-(85/50) S111
    Review of prescriptions of holders of special drawing rights6467-(80/71) S312
    Review of quota calculation methodB/G Res. 38–1413
    Executive Directors:
    Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597–4304
    Appointment by members having five largest quotas2–1303
    Determination of members entitled to appoint under Article XII, Section 3(c)*574–2303–304
    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)341
    Participation in meetings of Development CommitteeB/G Res. 29–9388
    Participation in meetings of Interim CommitteeB/G Res. 29–8383
    Voting power, effect of quota changes180–5304
    Export shortfalls, financing; see Compensatory financing of export fluctuations
    Extended arrangements*4377-(74/114)32–36
    Amendment to utilize supplementary financing7047-(82/13)72
    7048-(82/13)74
    Amounts to be made available under enlarged access policy decision, guidelines*7600-(84/3)50–51
    Augmentation of rights to make purchases, elimination5706-(78/39)71
    Charge*4377-(74/114)35
    4720-(75/114)38
    *6838-(81/70)70
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)340
    Form under enlarged access policy*6838-(81/70)61
    7048-(82/13)74
    7908-(85/26)75
    Ineligibility*6838-(81/70)69
    Publicity upon declaration7931-(85/41)305
    7999-(85/90)305
    Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)77–79
    Noncomplying purchases; see Misreporting and noncomplying purchases
    Overdue obligations to Fund, purchases from Fund7908-(85/26)75
    EBM/84/5475–76
    Provision for enlarged access to Fund’s resources6783-(81/40)46
    Provision for supplementary financing5508-(77/127)38–44
    6693-(80/177)45
    6725-(81/5)45
    Repurchases; see Repurchases
    Review of decision on extended Fund facility5220-(76/144)36
    7558-(83/156)36–37
    7857-(84/175)37
    Suspension of right to engage in purchase transactions*6838-(81/70)69
    Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize . . . , above
    Extended Fund facility; see Extended arrangements
    External debt management policies6230-(79/140)29
    F“First credit tranche,” Fund attitude to request for transactions25
    Floating rates; see Exchange rates
    Fluctuating exchange rates; see Exchange rates Freely usable currencies5719-(78/46)343
    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 Trade1034-(60/27)283
    4254-(74/75)299–300
    B/G Res. 29–10393
    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)122–23
    5809-(78/88)123–24
    Sale, amounts available to Trust Fund5069-(76/72)349
    Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)344
    5709-(78/41) TR354–55
    5832-(78/95) TR355
    6540-(80/98) TR360
    Sale, transfer of profits to Trust Fund5069-(76/72)345
    Subscribed to Fund, ownership170–33
    Gross reserve position; see Reverse position, gross
    HHoldings of the Fund:
    Adjustment by Fund5590-(77/163)130–31
    Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)114
    *6831-(81/65)124
    Attribution of reductions to repurchase obligations*6831-(81/65)124
    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)341
    Computations and adjustment, rates5590-(77/163)130–31
    Exclusion of holdings resulting from credit tranche purchases6830-(81/65)340
    Exclusion under buffer stock facility5591-(77/163)338
    Exclusion under compensatory financing of export fluctuations2836-(69/87)338
    Exclusion under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91–92
    Exclusion under enlarged access policy6783-(81/40)340
    Exclusion under extended Fund facility6830-(81/65)340
    Exclusion under oil facility5371-(77/51)339
    Exclusion under supplementary financing facility5508-(77/127)339
    Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Repurchases; see Repurchases
    IImport restrictions imposed for balance of payments reasons, GATT members1034-(60/27)283
    Ineligibility; see Extended arrangements; Stand-by arrangements; Use of Fund’s resources
    Interest:
    Charge on loans from Trust Fund5069-(76/72)348
    Payment on Fund indebtedness to Bank for International Settlements*6863-(81/81)243–44
    Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)246
    Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)202
    Payment on Fund indebtedness to Swiss National Bank5288-(76/167)174
    5331-(77/15)180–81
    5387-(77/61)178
    5488-(77/116)181
    Payment on Fund indebtedness under General Arrangements to Borrow*1289-(62/1)152
    Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)
    G/TR364
    Payment under supplementary financing facility5509-(77/127)
    Annex191
    6163-(79/96)196
    Payments by members under Trust Fund loan agreements6358-(79/188)
    Interim Committee of the Board of Governors on the International Monetary System:
    EstablishmentB/G Res. 29–8382
    Review of functioning of international adjustment process5392-(77/63)12
    Rules of procedure395
    International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S 6718-(81/1) S314n 314n
    International Development Association, prescription as holder of special drawing rights6718-(81/1) S314n
    International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S314n
    International monetary system, reformB/G Comp. Res.381
    International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
    Interpretation of Articles of Agreementxxvii
    Investment:
    Currencies held in oil facility Subsidy Account*4773-(75/136)372
    Currencies held in supplementary financing facility Subsidy Account6683-(80/185)
    G/TR364, 367
    6854-(81/78)
    SBS369
    Currency balances held in Trust Fund5069-(76/72)350
    5972-(78/189)353
    5973-(78/189)
    TR354
    Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S315n
    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. 29–9385
    Rules of procedure395
    Secretariat function, changes in organization of work and structure397
    MManaging Director:
    Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)269
    6845-(81/75)270
    Authority to establish oil facility Subsidy Account*4773-(75/136)371
    Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)195
    Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)198
    Consultation by eligible member to request assistance from Trust Fund5069-(76/72)346
    Consultation by member before making request under supplementary financing facility5508-(77/127)39
    Consultation by member contemplating request under extended Fund facility*4377-(74/114)33
    Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)46
    Consultation with members when notice of exchange policy change not received5712-(78/41)9
    Consultations and proposals to Executive Board concerning sales of currencies at request of members with outstanding purchases6352-(79/183)109
    Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)196
    Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements*6854-(81/78)
    SBS369
    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)114
    Discussions with members on exchange policies5392-(77/63)14
    6026-(79/13)15
    Participation in meetings of Development CommitteeB/G Res. 29–9388
    Participation in meetings of Interim CommitteeB/G Res. 29–8383
    Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189)
    TR354
    Proposal for allocation of SDRs:
    1st basic periodB/G Res. 24–12422
    3d basic periodB/G Res. 34–3424
    4th basic period434
    Proposals for calls under General Arrangements to Borrow*1289-(62/1)151, 159
    1712-(64/29)168
    Proposals for Trust Fund investments5973-(78/189)
    TR354
    Recommendations to Executive Board regarding approval of use of Fund resources and standby arrangements6056-(79/38)27
    Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period434
    Misreporting and noncomplying purchases, guidelines on corrective action; see Extended or Stand-by arrangement
    Monetary stabilization operations, use of Fund’s resources71–223
    B/G Res. IM-6379
    Multiple currency practices:
    Policy237–2286
    649-(57/33)294
    6790-(81/43)295
    Prior Fund approval5712-(78/41)9
    Spreads6790-(81/43)295–96
    N“Net creditor position in the Fund”6008-(79/3)196
    Noncomplying purchases; see Stand-by or extended arrangement, Misreporting and noncomplying purchases
    Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S314n
    OOil facility:
    1975 facility
    Subsidy Account*4773-(75/136)371
    Final review and report on termination7420-(83/82)374
    7484-(83/117)374–75
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)339
    Operational budgets:
    Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158)
    G/S104
    Sales of SDRs and use of currencies6772-(81/35)
    G/S110
    Overdue obligations to Fund, purchases from Fund; (see also Extended or Stand-by arrangements)7908-(85/26)64, 69, 75
    Accounting for overdue charges7930-(85/41)127
    Complaint, period of considerationChairman’s
    Summing up76–77
    Deferred income7930-(85/41)127
    Publicity upon declaration of ineligibility7999-(85/90)305
    Reporting by Fund7931-(85/41)305
    Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)129
    Special charges on8165-(85/189)
    G/TR127–29
    Overdue payments to Fund; see Overdue obligations to Fund
    PPayments arrears3153-(70/95)283
    Payments policies of members4134-(74/4)285
    Payments restrictions (see also Exchange restrictions; Payments arrears):
    For security reasons, Fund jurisdiction144-(52/51)275–76
    Withdrawal or general abandonment117–1306
    “Position in the Fund,” definition6274-(79/158) 6772-(81/35)106
    G/S111
    Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)275
    Publication of reports, overdue obligations7931-(85/41)305
    Publicity on declaration of ineligibility7999-(85/90)305
    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 facility*2772-(69/47)94
    3179-(70/102)95
    5127-(76/91)96–97
    5597-(77/163)338
    5597-(77/171)99
    7246-(82/147)102
    7247-(82/147)97
    Purchases under compensatory financing of export fluctuations2836-(69/87)338
    6224-(79/135)82–85
    Purchases under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
    Purchases under credit tranche; see Tranche policies
    Purchases under extended arrangements5508-(77/127)40
    6783-(81/40)46–47
    6830-(81/65)72
    *6838-(81/70)67–71
    7048-(82/13)74
    Purchases under policy on enlarged access6783-(81/40)46
    Purchases under stand-by arrangements5508-(77/127)39–40
    6783-(81/40)47
    *6838-(81/70)61–66
    7048-(82/13)74
    Purchases under supplementary financing facility5508-(77/127)39–40
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal*6838-(81/70)69–70
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)60
    *6838-(81/70)65
    Suspension, effect on General Arrangements to Borrow*1289-(62/1)157
    Suspension of transactions under extended arrangements*6838-(81/70)69
    Suspension of transactions under stand-by arrangements*270-(53/95)60
    *6838-(81/70)64–65
    QQuotas:
    Adjustment, first interval of five years408–23
    Calculation, review of methodB/G Res. 38–1414
    Change, effect on voting power of elected Executive Director180–5304
    Reviews:
    1st408–23
    6th GeneralB/G Res. 29–10395
    B/G Res. 31–2399
    7th GeneralB/G Res. 34–2402
    Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S116
    8th GeneralB/G Res. 38–1413
    Special adjustment for members with very small quotasB/G Res. 38–1415
    RRates for official communications of Fund534–3301–302
    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)341
    Repayment by Fund of borrowed currency*1289-(62/1)153–54
    1712-(64/29)170
    5288-(76/167)175
    5387-(77/61)179
    5509-(77/127)192
    6843-(81/75)202, 204
    6864-(81/81)247
    Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Reporting by the Fund of overdue obligations7931-(85/41)305
    Repurchases:
    Attribution of reductions in Fund’s holdings of currencies6774-(81/35)114
    *6831-(81/65)124
    Currency resulting from purchase under credit tranches*5703-(78/39)121–22
    Currency resulting from purchase under extended arrangement*6838-(81/70)70
    Currency resulting from purchase under standby arrangement*6838-(81/70)65
    Early, guidelines5704-(78/39)117
    6172-(79/101)119
    6273-(79/158)
    G/S104
    Guidelines for selection of currencies6274-(79/158)105
    6774-(81/35)112
    Obligations to pay gold, payment with SDRs or currencies of other members*5703-(78/39)122
    5809-(78/88)123
    Of Fund’s holdings102-(52/11)24–25
    Procedures*5703-(78/39)121
    Under buffer stock financing facility*5703-(78/39)121
    6th International Tin Agreement7247-(82/147)97
    1977 International Sugar Agreement5597-(77/171)99
    International Natural Rubber Agreement, 19797246-(82/147)102
    Under compensatory financing of export fluctuations*5703-(78/39)121
    Representation of intention to repurchase amount of overcompensation6224-(79/135)84
    Under compensatory financing of fluctuations in the cost of cereal imports*5703-(78/39)121
    *6860-(81/81)92
    Under decision on enlarged access6783-(81/40)48
    Under extended Fund facility*4377-(74/114)35
    Under supplementary financing facility5508-(77/127)42–43
    Reserve assets:
    Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
    Payment for subscriptions under 8th General Review of QuotasB/G Res. 38–1416, 418
    Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)
    G/S104
    Reserve tranche position:
    Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)114
    *6831-(81/65)124
    Review7704-(84/78)125
    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)341
    Reserve tranche purchases (see also Use of Fund’s resources):
    Exclusion of purchases and holdings in credit tranches6830-(81/65)340
    Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)338
    Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)338
    Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91
    Exclusion of purchases and holdings under extended facility6830-(81/65)340
    Exclusion of purchases and holdings under oil facility5371-(77/51)x339
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)340
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)339
    Restrictions; see Exchange restrictions; Payments restrictions
    Retention quotas201-(53/29)277
    Rule G-1*1289-(62/1)156
    Rule O-2:
    Determination of exchange rate*1289-(62/1)155
    5288-(76/167)173
    5387-(77/61)177–78
    5590-(77/163)130
    6001-(79/1) S318–19
    6053-(79/34) S320
    6054-(79/34) S322
    6336-(79/178) S324
    7041-(82/8)
    G/S334
    Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S310
    Rule P-7:
    Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S327
    Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178) S326
    Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S319
    Declaration concerning use of special drawing rights in accordance with prescription on pledges*6053-(79/34) S321
    Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations*6000-(79/1) S317
    Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S325
    Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations*6054-(79/34) S323
    Rule P-9, record of operations in special drawing rights*6000-(79/1) S318
    6001-(79/1) S320
    *6053-(79/34) S322
    *6054-(79/34) S324
    6336-(79/178) S325
    6337-(79/178) S327
    6437-(80/37) S327
    8186-(86/9)
    SBS/S328
    Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65) S333
    SSaudi Arabia, association agreement under General Arrangements to Borrow; see Borrowing by the Fund
    Saudi Arabian Monetary Agency, borrowing agreement with Fund6843-(81/75)198
    Change in conversion arrangements7188-(82/114)227
    Supplementary agreement7677-(84/64)228
    Transferability of claims7629-(84/25)166
    Special Disbursement Account; see Accounts
    Special drawing rights:
    Allocation for first basic periodB/G Res. 24–12422
    Allocation for third basic periodB/G Res. 34–3424
    New participants5956-(78/180) S316
    6368-(79/191) S316
    Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board434
    Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
    Annex193
    Designation, review of rules and method of calculating amounts6209-(79/124) S329
    Holders prescribed by the Fund:
    Andean Reserve Fund6486-(80/77) S314
    Arab Monetary Fund6609-(80/126) S314n
    Asian Development Bank7229-(82/136) S315n
    Bank for International Settlements6484-(80/77) S313
    Bank of Central African States7064-(82/26) S314n
    Central Bank of West African States6908-(81/101) S314n
    East African Development Bank7582-(83/174) S315n
    East Caribbean Central Bank7707-(84/79) S315n
    International Bank for Reconstruction and Development6718-(81/1) S314n
    International Development Association6718-(81/1) S314n
    International Fund for Agricultural Development6489-(80/77) S314n
    Islamic Development Bank7086-(82/42) S315n
    Nordic Investment Bank6488-(80/77) S314n
    Swiss National Bank6485-(80/77) S315
    Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S311
    Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
    Loans for Trust Fund expressed in5069-(76/72)348
    Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S310
    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) S333
    Sale by Fund to members for use in quota payments under 7th General Review6663-(80/160) S116
    Sale by Fund, guidelines6772-(81/35)
    G/S110
    SDR-denominated deposits with Bank for International Settlements5973-(78/189)
    TR354
    Transfers under Article V, Section 3(f)6275-(79/158)
    G/S107
    Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)105
    6774-(81/35)112
    Use in donations6437-(80/37) S327
    Use in donations and loans to supplementary financing facility Subsidy Account6683-(80/185)
    G/TR367
    Use in forward operations6337-(79/178) S326
    Use in loans6001-(79/1) S318
    Use in operations under Structural Adjustment Facility8239-(86/56)
    SAF328
    Use in payment of charges*5702-(78/39)
    G/S126
    Use in payment of 25 percent of quota increasesB/G Res. 31–2400
    B/G Res. 34–2407
    B/G Res. 38–1416
    Use in payment of subsidy8186-(86/9)
    SBS/S327–28
    Use in pledges*6053-(79/34) S320–22
    Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S315
    Use in repurchases*5703-(78/39)122–23
    5809-(78/88)123
    Use in settlement of financial obligations*6000-(79/1) S317
    Use in swap operations6336-(79/178) S324
    Use in transfers as security for performance of financial obligations*6054-(79/34) S322
    Valuation basket, guidelines for calculation of currency amount8160-(85/186)
    G/S309
    Valuation for use in borrowing arrangements*1289-(62/1)155
    5288-(76/167)173
    5387-(77/61)177
    6843-(81/75)203
    Valuation, interimB/G Res. 29–10393–94
    Valution method6631-(80/145)
    G/S307
    Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S310
    Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S335
    Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
    Stand-by arrangements:
    Amendment to utilize supplementary financing7047-(82/13)72
    7048-(82/13)74
    Amounts to be made available under enlarged access policy decision, guidelines6783-(81/40)47
    7600-(84/3)50–51
    Augmentation of rights to make purchases, elimination5706-(78/39)71
    Charges*6838-(81/70)65
    Conditionality, guidelines6056-(79/38)26–28
    Review8192-(86/13)37–38
    Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)340
    Foreign borrowing, performance criteria6230-(79/140)29
    Form under enlarged access policy*6838-(81/70)61–66
    7048-(82/13)74
    Ineligibility*270-(53/95)60
    *6838-(81/70)65
    Publicity upon declaration of7999-(85/90)305
    7931-(85/41)305
    Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)77
    Noncomplying purchases; see Misreporting and noncomplying purchases, above
    Overdue obligations to the Fund, purchases from Fund7908-(85/26)64, 69, 75
    EBM/84/5475–76,
    Payments arrears, performance criteria3153-(70/95)284–85
    Period*270-(53/95)59
    5508-(77/127)40
    6783-(81/40)47
    Performance criteria and phasing, operational guidelines7925-(85/38)80
    Policies and procedures*270-(53/95)60
    Provision for enlarged access to Fund’s resources6783-(81/40)46
    Provision for supplementary financing5508-(77/127)38
    6693-(80/177)45
    6725-(81/5)45
    Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)80
    Renewal*270-(53/95)59
    Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
    Suspension of right to engage in purchase transactions*270-(53/95)60
    *6838-(81/70)64–65
    Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize . . ., above
    Structural adjustment facility:
    Income from investment and loans, availability of use8237-(86/56)
    SAF132–33
    List of eligible members and amounts of assistance8240-(86/56)
    SAF137–38
    Regulations for administration8238-(86/56)
    SAF133–38
    Chairman’s
    Summing up140–45
    Review of operation8241-(86/56)
    SAF139
    Use of SDRs in operation8239-(86/56)
    SAF328
    Subscriptions:
    Gold and currency, ownership by Fund170–33
    Payment of quota increasesB/G Res. 31–2400
    B/G Res. 34–2407, 409
    B/G Res. 38–1416, 418
    Reserve assets:
    Guidelines for determining amounts to be paid6266-(79/156)4
    Payment under 8th General Review of QuotasB/G Res. 38–1416, 418
    Subsidy accounts; see Accounts, Subsidy Accounts
    Sugar Agreement, International; see Buffer stock financing facility
    Supplementary financing facility:
    Authorization to make calls under borrowing arrangements6006-(79/3)195
    Charges; see Charges
    Establishment5508-(77/127)38
    Extension of period6725-(81/5)45
    No augmentation of rights to purchase5706-(78/39)71
    Replenishment of Fund’s holdings of currencies5509-(77/127)187
    Interest payments under borrowing agreements6163-(79/96)196
    Meaning of “net creditor position in the Fund”6008-(79/3)196
    Report on use6445-(80/43)44
    Repurchases; see Repurchases
    Review of decision on establishment6693-(80/177)45
    6725-(81/5)45
    Subsidy Account
    Effect on subsidy cost of substituting supplementary financing for enlarged access resources7047-(82/13)74
    Instrument6683-(80/185)
    G/TR362
    Investment of currencies6854-(81/78)
    SBS369
    8184-(86/9) SBS369
    Means of Payments8185-(86/9)
    SBS/S370
    Subsidy payments, July 1, 1984-June 30, 19858037-(85/110)
    SBS371
    Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81)
    SBS369
    Transferability of claims; see Transferability of claims
    Utilization of supplementary financing facility for enlarged access resources7047-(82/13)72
    7048-(82/13)74
    Surveillance over exchange rate policies5392-(77/63)9–14
    8248-(86/60)16
    Enhanced surveillance; see Enhanced surveillance
    Procedures; implementation of three-month period7427-(83/83)17–18
    Review of procedures6026-(79/13)14–15
    7646-(84/40)16
    7939-(85/49)16
    8249-(86/60)17
    Swiss National Bank:
    Borrowing agreements with Fund5288-(76/167)172
    5387-(77/61)176
    Transfer charges and interest, media of payment5306-(77/2)181
    5331-(77/15)180
    5488-(77/116)181
    Use of special drawing rights to repay indebtedness6485-(80/77) S315
    Participation in General Arrangements to Borrow*1289-(62/1)159–60
    Prescription as holder of special drawing rights6485-(80/77) S315
    Transferability of claims under General Arrangements to Borrow7628-(84/25)165
    Switzerland:
    Association with General Arrangements to Borrow1712-(64/29)168
    TTechnical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)295
    Tin Agreements, International; see Buffer stock financing facility
    Trade, Voluntary Declaration4254-(74/75)298
    B/G Res. 29–10393
    Tranche policies:
    Application in connection with compensatory financing facility6224-(79/135)85
    Application in connection with decision on enlarged access6783-(81/40)46, 49
    Application in connection with supplementary financing facility5508-(77/127)39, 43
    Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)340
    Fund attitude to request for transactions within “first credit tranche” and beyond
    Transferability of claims:
    General Arrangements to Borrow*1289-(62/1)155–56
    7628-(84/25)165
    Saudi Arabia’s borrowing agreement7629-(84/25)166
    Transitional provisions of Article XIV117–1306
    1034-(60/27)281
    Trust Fund:
    Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)344
    5709-(78/41)
    TR355
    5832-(78/95)
    TR355
    6540-(80/98)
    TR359
    Diversification of investments5972-(78/189)353
    5973-(78/189)
    TR354
    Eligible members, review of list5563-(77/150)
    TR352–53
    Final payments of profits and loans for period July 1, 1976–June 30, 19785832-(78/95)
    TR355
    Instrument5069-(76/72)344
    Amendment5563-(77/150)
    TR352–53
    5972-(78/189)353
    6793-(81/45)362
    Means of payment of interest6358-(79/188)
    TR357
    Means of repayment by members on their indebtedness under loan agreements7142-(82/85)
    TR358
    Overdue interest and special charges8165-(85/189)
    G/TR358–59
    Repayment terms:
    Final loan disbursement6793-(81/45)362
    Second period:
    Extension6466-(80/68)
    TR356
    6676-(80/168)
    TR357
    Extension of period for qualification6202-(79/121)
    TR356
    Timing of loan disbursements6201-(79/121)
    TR355
    Special charges on overdue interest8165-(85/189)
    G/TR358–59
    Termination and transfer of resources to Special Disbursement Account6683-(80/185)
    G/TR363
    6704-(80/185)
    TR360
    UUnenforceability; see Exchange contracts
    United Nations:
    Agreement with International Monetary Fund439
    Convention on the Privileges and Immunities of the Specialized Agencies446
    Application to Fund464
    List of members which have accepted with respect to Fund465
    General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6–8380
    United States dollars:
    Determination of value in terms of special drawing right pursuant to Rule O-2(a)6709-(80/189) S310
    Inclusion in operational budgets6772-(81/35)
    G/S110
    Use for payment of interest and other Fund liabilities5288-(76/167)176
    5306-(77/2)181
    5331-(77/15)180–81
    5387-(77/61)179
    5488-(77/116)181
    6358-(79/188)
    TR357
    *6863-(81/81)244
    Use for repayment by members on their indebtedness under Trust Fund loan agreements7142-(82/85)
    TR358
    Use in payments under oil facility Subsidy Account7420-(83/82)374
    7484-(83/117)374
    Use in payments under supplementary financing facility Subsidy Account7754-(84/108)
    SBS370
    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 drawings*270-(53/95)60
    Authority to use resources of Fund, interpretation of Articles of Agreement71–223
    Buffer stock financing*2772-(69/47)94
    Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)99
    Buffer stock financing facility as applied to International Tin Agreements:
    4th3179-(70/102)95
    3351-(71/51)96
    5th5127-(76/91)96
    Capital transfers1238-(61/43)23
    Compensatory financing of export fluctuations*6224-(79/135)82
    Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88
    Conditionality, guidelines6056-(79/38)26
    Review8192-(86/13)37–38
    “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287–323
    Credit tranche policies; see Tranche policies
    Enlarged access, policy on*6783-(81/40)46
    Extended Fund facility*4377-(74/114)32
    “First credit tranche”25
    In accordance with purposes of Fund102-(52/11)24
    Ineligibility:
    Effect on purchases under extended arrangement*6838-(81/70)69
    Effect on purchases under stand-by arrangement*270-(53/95)60
    *6838-(81/70)65
    Publicity upon declaration7999-(85/90)305
    7931-(85/41)305
    Under Article V, Section 5284–3115
    Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)337
    Interpretation of Articles of Agreement23,273
    Limit on access to Fund resources, guideline*7600-(84/3)50
    Limitation under Article V, Section 5284–3115
    286–1115
    Monetary stabilization71–223
    Postponement, limitation under Article V, Section 5286–1115
    Reserve tranche purchases; see Reserve tranche purchases
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request*6838-(81/70)70
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)60
    *6838-(81/70)65
    Stand-by and extended arrangements, forms under enlarged access policy*6838-(81/70)61
    Suspension of exchange transactions, effect on General Arrangements to Borrow*1289-(62/1)157
    Suspension of transactions under extended arrangements*6838-(81/70)69
    Suspension of transactions under stand-by arrangements*270-(53/95)60
    *6838-(81/70)64
    Temporary assistance in financing balance of payments deficits71–223
    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*2772-(69/47)94
    6224-(79/135)85
    *6860-(81/81)93
    VVoluntary Declaration on Trade and Other Current Account Measures4254-(74/75)298
    B/G Res. 29–10393
    Voting power, elected Executive Directors, effect of chage in quota180–5304
    WWaiver of condition of Article V, Section 3(b)(iii)*4377-(74/114)34
    5508-(77/127)43
    6783-(81/40)49
    World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)13

    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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