Selected Decisions (9th Ed)

Selected Decisions (9th Ed)
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
June 1981
    Share
    • ShareShare
    Show Summary Details

    Index

    (*indicates Decision as amended)

    Decision No.Page
    A Accounting by members for transactions with the Fund170-33
    Accounts:
    Borrowed Resources Suspense Accounts6844-(81/75)186
    General Account; see General Resources Account, below
    General Resources Account:
    Adjustment of currency holdings of members5590-(77/163)100
    Exchange rate for Fund computations5590-(77/163)100
    Purchase of SDRs for payment of charges5702-(78/39) G/S99
    Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185) G/TR293
    Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)270, 277
    Sale of SDRs for payment of quota increases by members under 7th General Review of Quotas6663-(80/160) S90
    Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR288, 289
    6704-(80/185) TR286
    Subsidy Accounts:
    Oil facility*4773-(75/136)295
    Annual review and payments for financial year 19816842-(81/71)297
    Supplementary financing facility:
    Instrument6683-(80/185) G/TR287
    Investment of currencies6854-(81/78) SBS295
    Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR286
    Trust Fund, special accounts5069-(76/72)276
    Adjustment process, international, review5392-(77/63)12
    Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S242
    Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S245
    Articles of Agreement1
    Amendment, SecondB/G Res. 29-8308
    B/G Res. 29-10319
    Article I, purposes of the Fund287-318
    433-(55/42)204
    1034-(60/27)209
    *4377-(74/114)26
    *4773-(75/136)295
    5069-(76/72)270
    Article III, Section 2, adjustment of quotas408-23
    Article III, Section 2 (a), general review of quotasB/G Res. 34-2327
    Article IV:
    Consultations5392-(77/63)13
    6026-(79/13)15
    6056-(79/38)22
    6532-(80/93)16
    6790-(81/43)227
    6815-(81/52)16
    Exchange arrangements5392-(77/63)13
    5712-(78/41)8
    Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)10
    6026-(79/13)15
    6532-(80/93)16
    6815-(81/52)16
    Article V, Section 1*1289-(62/1)113
    Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund* 1289-(62/1)110
    Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-317
    Article V, Section 3 (b) (iii), waiver4241-(74/67)71
    *4377-(74/114)29
    5508-(77 /127)36
    6783-(81/40)43
    Article V, Section 3 (d):
    Sale of members’ currencies for repurchases5704-(78/39)92
    Selection of currencies in purchases6273-(79/158) G/S78
    6274-(79/158)79
    6352-(79/183)82
    6774-(81/35)85
    Article V, Section 3 (f), transfers of SDRs6275-(79/158) G/S81
    Article V, Section 5, limitation on use of Fund’s resources284-389
    Article V, Section 5, limitation on use of Fund’sresources284-389
    286-189
    Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S90
    Article V, Section 6 (b), transfers of SDRs by the Fund6274-(79/158)79
    6774-(81/35)85
    Article V, Section 7, repurchases*1289-(62/1)110
    *5703-(78/39)96, 97
    5704-(78/39)92
    5809-(78/88)98
    Article V, Section 7 (b), early repurchases5704-(78/39)91
    6172-(79/101)93
    6273-(79/158) G/S78
    Article V, Section 7 (i), guidelines for selection of currencies used in repurchases6274-(79/158)79
    6774-(81/35)85
    Article V, Section 8, media of payment of charges5702-(78/39) G/S99
    Article V, Section 8 (b), charges*5703-(78/39)95
    6008-(79/3)141
    Article V, Section 8(b), (c), and (d), charges4239-(74/67)99
    Article V, Section 11, adjustment of Fund’s holdings of members’ currencies5590-(77/163)101
    Article V, Section 12 (f) (ii), balance of payments assistance on special terms to low-income developing members in difficult circumstances6704-(80/185) TR286
    Article VI, Section 1, use of Fund’s resources54l-(56/39)104
    1238-(6l/43)17
    Article VI, Section 3, controls on capital transfers541-(56/39)104
    Article VII, replenishment of Fund’s holdings of currencies4242-(74/67)188
    4635-(75/47)193
    5508-(77/127)32
    5509-(77/127)133
    6783-(81/40)39
    6843-(81/75)143
    Article VII, Section 1, borrowing by Fund*1289-(62/1)105
    4242-(74/67)188
    4635-(75/47)193
    Article VIII:
    Bilateralism433-(55/42)204
    Consultations5392-(77/63)13
    6815-(81/52)16
    Retention quotas201-(53/29)207
    Article VIII and Article XIV1034-(60/27)209
    Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)209, 210
    Article VIII, Section 2(a):
    Payments restrictions144-(52/51)203
    3153-(70/95)212
    Article VIII, Section 2 (b), unenforceability of exchange contracts446-4201
    Article VIII, Section 3, multiple currency practices237-2220
    5712-(78/41)9
    6790-(81/43)226
    Article VIII, Section 7B/G Res. 34-3340
    Article IX, Section 7, privilege for communications534-3230
    Article XII, Section 3(b)(i) and 3(f)2-1233
    Article XII, Section 3(c):* 574-2233
    Additional appointed Executive Directors* 574-2233
    “The preceding two years,” meaning597-4234
    Article XIV:
    Articles VIII and XIV1034-(60/27)209
    Bilateralism433-(55/42)204
    Consultations5392-(77/63)13
    6815-(81/52)16
    Retention quotas201-(53/29)205, 207
    Article XIV, Section 11034-(60/27)210
    Article XIV, Section 2:
    Multiple currency practices237-2220
    Payments restrictions144-(52/51)203
    3153-(70/95)212
    Transitional arrangements446-4202
    Article XIV, Section 3117-1235
    237-2221
    Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S239
    6484-(80/77) S242
    6485-(80/77) S245
    6486-(80/77) S242, 243
    6487-(80/77) S243
    6488-(80/77) S243, 244
    6489-(80/77) S244
    6609-(80/126) S246
    6718-(81/1) S246, 247
    Article XVIII, allocation of special drawing rightsB/G Res. 34-3338
    Article XVIII, section 2(d), allocations of special drawing rights to new participants5956-(78/180) S248
    6368-(79/191) S248
    Article XIX, Section 2(c):
    Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S239
    Operations and transactions in special drawing rights between participants*6000-(79/1) S249
    6001-(79/1) S250
    *6053-(79/34) S252
    *6054-(79/34) S254
    6336-(79/178) S256
    6337-(79/178) S258
    6437-(80/37) S259
    Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S260
    Article XIX, Section 5(a)(i), designation plans6273-(79/158) G/S78
    Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S264
    Article XIX, Section 7(a), calculation of exchange rates*1289-(62/1)112
    Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S239
    Article XXIIB/G Res. 34-3340
    Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S241
    Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)265
    Article XXVI, Section 3*1289-(62/1)113
    Article XXVII*1289-(62/1)114
    Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements*270-(53/95)45
    Article XXIX(a), list of interpretations underxxiii
    Article XXX(c):
    Exclusion of purchases and holdings under buffer stock facility5591-(77/163)266
    Exclusion of purchases and holdings under buffer stock facility5591-(77/163)266
    Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)266
    Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports6860-(81/81)62
    Exclusion of purchases and holdings under extended facility6830-(81/65)267
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)43
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)36
    Exclusion of purchases under oil facility5371-(77/51)267
    Exclusion relating to purchases in credit tranches6830-(81/65)267
    Article XXX(f), freely usable currencies5719-(78/46)268
    Schedule B, repurchases* 5703-(78/39)96, 97
    5704-(78/39)92
    6008-(79/3)141
    Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)269
    Schedule F, rules for designation6209-(79/124) S261
    Schedule G, rules for reconstitution, abrogation6832-(81/65) S264
    Schedule J*1289-(62/1)113
    Schedule K*1289-(62/1)114
    4242-(74/67)193
    Schedule K, paragraph 15288-(76/167)126
    5387-(77/61)131
    Audit:
    Oil facility Subsidy Account*4773-(75/136)296
    Supplementary financing facility Subsidy Account6683-(80/185) G/TR294
    Trust Fund5069-(76/72)269, 276
    Augmentation; see Purchase transactions, Augmentation
    B Balance of payments position:
    Assessment for assistance from Trust Fund5069-(76/72)272
    Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S78
    Discrimination for balance of payments reasons955-(59/45)208
    Bank for International Settlements:
    Borrowing agreement with Fund*6863-(81/81)173
    Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78) SBS295
    Prescription as holder of special drawing rightsB/G Res. 29-1301
    6484-(80/77) S242
    Trust Fund deposits denominated in SDRs5973-(78/189) TR281
    Bilateralism433-(55/42)204
    955-(59/45)208, 209
    Borrowing by the Fund:
    Agreement with Bank for International Settlements*6863-(81/81)173
    Agreement with central banks and other official institutions6864-(81/81)176
    Agreement with Saudi Arabian Monetary Agency6843-(81/75)143
    Agreement with Swiss National Bank:
    19765288-(76/167)123
    19775387-(77/61)127
    Interest, media of payment5331-(77/15)132
    5488-(77/116)132
    Transfer charges, media of payment5306-(77/2)132
    5488-(77/116)132
    Use of special drawing rights in repayment6485-(80/77) S245
    Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75), Annex169
    Borrowed Resources Suspense Accounts6844-(81/75)186
    6845-(81/75)187
    Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)39
    General Arrangements to Borrow*1289-(62/1)105
    Charges*1289-(62/1)109
    Switzerland, association of1712-(64/29)119
    Issuance of bearer notes by Fund6843-(81/75)144, 154, 160, 168
    6864-(81/81)179, 180, 182, 184
    Oil facility4242-(74/67)188
    4635-(75/47)193
    4916-(75/208)195
    Authorization to make calls4741-(75/120)195
    4917-(75/208)195
    Calls, order4918-(75/208)196
    Interest payment4242-(74/76)191, 192
    4490-(74/140)196
    4635-(75/47)194
    4636-(75/47)196
    4919-(75/208)197
    Media of payments5441-(77/84)197
    Transferability of claims5974-(78/190)198
    Supplementary financing facility:
    Interest payment procedure6163-(79/96)141
    Meaning of “net creditor position in the Fund”6008-(79/3)141
    Replenishment of holdings of currencies5509-(77/127)133
    Subsidy Account6683-(80/185) G/TR289
    Buffer stock financing facility*2772-(69/47)64
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)266
    International Sugar Agreement, 19775597-(77/171)67
    International Tin Agreements:
    4th3179-(70/102)65
    3351-(71/51)66
    5th5127-(76/91)66
    Repurchases*5703-(78/39)95
    1977 International Sugar Agreement5597-(77/171)68
    C Capital transfers:
    Controls by members541-(56/39)104
    B/G Res. 29-10317
    Restrictions237-2218
    Use of Fund’s resources for1238-(61/43)17
    “Changing circumstances,” adaptation of multiple currency practices237-2222
    Charges:
    Borrowing agreements with Swiss National Bank5288-(76/167)125
    5306-(77/2)132
    5387-(77/61)129
    5488-(77/116)132
    Enlarged access policy6783-(81/40)43
    Extended Fund facility*4377-(74/114)29
    4720-(75/114)31
    6838-(81/70)54
    Future changes4239-(74/67)99
    General Arrangements to Borrow*1289-(62/1)109
    Interest on Trust Fund loans; see Interest
    Media of payment5702-(78/39) G/S99
    Oil facility4241-(74/67)72
    *4634-(75/47)76
    Oil facility Subsidy Account; see Accounts, Subsidy Accounts
    Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S99
    Stand-by arrangements6838-(81/70)49
    Supplementary financing facility5508-(77/127)37
    Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
    Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.305
    Final report and terminationB/G Res. 29-7306
    Support of extended Fund facility*4377-(74/114)26
    Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)227
    Commodities (see also Buffer stock financing facility; Compensatory financing …):
    Reclassification where subject to multiple currency practices237-2220, 222
    Communications, privilege for534-3230
    Compensatory financing of export fluctuations6224-(79/135)56
    Exclusion of purchases and holdings for purpose of definition of reserve tranche purchase …2836-(69/87)266
    Integration of assistance with that available under decision on compensatory financing of fluctuations in the cost of cereal imports …6860-(81/81)59
    Repurchases*5703-(78/39)95
    6224-(79/135)58
    Compensatory financing of fluctuations in the cost of cereal imports6860-(81/81)59
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6860-(81/81)62
    Repurchases*5703-(78/39)96
    6860-(81/81)62
    Conditionality; see Use of Fund’s resources, Conditionally
    “Consistent with the provisions of this Agreement,” meaning in Article V, Section 3287-317
    Consultations with members:
    Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)210
    Bilateral arrangements433-(55/42)205
    Changes in members’ exchange arrangements, notification to Fund5712-(78/41)9
    Commodity field, attention to policies*2772-(69/47)64
    Commodity field, attention to policies* 2772-(69/47)64
    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)22
    6532-(80/93)16
    6790-(81/43)227
    6815-(81/52)16
    Discussions on use of Fund’s resources102-(52/11)19
    During period of extended arrangement6838-(81/70)54
    During period of stand-by arrangement6838-(81/70)50
    Exchange measures needing approval under Article VIII1034-(60/27)210
    Members’ policies in present circumstances4134-(74/4)214
    Multiple currency practices237-2216
    Periodic discussions under Article VIII1034-(60/27)211
    Purchases under oil facility424l-(74/67)71
    Resumption of purchases under extended arrangements6838-(81/70)54
    Resumption of purchases under stand-by arrangements*270-(53/95)45
    6838-(81/70)49
    Retention quotas201-(53/29)206
    Special consultations5392-(77/63)14
    Whether measure is exchange restriction1034-(60/27)210
    Consultations with prescribed holders of special drawing rights6467-(80/71) S240
    Convertibility:
    Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)209
    Approval of exchange restrictions1034-(60/27)209
    Bilateralism433-(55/42)204
    Consultation with Fund1034-(60/27)210
    Discrimination955-(59/45)208
    Multiple currency practices; see Multiple currency practices
    Retention quotas201-(53/29)206
    Credit tranches; see Tranche policies
    Creditworthiness, factor in determining use of Fund’s resources102-(52/11)18
    Currencies (see also Borrowing by the Fund; Convertibility; Holdings of the Fund; Investment):
    Arrangements for use in operations and transactions of FundB/G Res. 31-2326
    Composition of special drawing right6631-(80/145) G/S236
    Freely usable currencies5719-(78/46)268
    Guidelines for use in operational budgets6772-(81/35) G/S84
    Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S78
    6274-(79/158)79
    6774-(81/35)85
    Payment of subscriptionsB/G Res. 31-2325
    B/G Res. 34-2328, 332
    6266-(79/156)7
    Rates for computations and maintenance of value5590-(77/163)100
    Replenishment in connection with supplementary financing facility5509-(77/127)133
    Sale at request of member with outstanding purchases6274-(79/158)80
    6352-(79/183)82
    6774-(81/35)86
    Selection for payment of charges5702-(78/39) G/S99
    Specified by the Fund, use in repurchases*5703-(78/39)97
    5809-(78/88)98
    Subscribed to the Fund, ownership170-33
    D Debt management policies; see External debt management policies
    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)208
    Drawings; see Purchase transactions; Use of Fund’s resources
    E East Caribbean Currency Authority, prescription as holder of special drawing rights6487-(80/77) S243
    Enemy-occupied, former, members, introduction of multiple currency practices237-2220, 222
    Enlarged access, policy on6783-(81/40)39
    Borrowed Resources Suspense Accounts; see Accounts
    Borrowing agreement with Bank for International Settlements6863-(81/81)173
    Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)143
    Borrowing from central banks and other official institutions6864-(81/81)176
    Charges6783-(81/40)43
    Exclusion of purchases with borrowed resources and holdings under Article XXX (c)6783-(81/40)43
    Form of stand-by and extended arrangements6838-(81/70)46
    Repurchases; see Repurchases
    “Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1235
    237-2221
    Exchange arrangements, notification5392-(77/63)13
    5712-(78/41)8
    Exchange contracts, unenforceability446-4201
    Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4202
    Exchange controls on capital transfers54l-(56/39)104
    Exchange rates:
    Borrowing arrangements by Fund*1289-(62/1)112
    Exchange rate policies of members, surveillance5392-(77/63)10
    Flexible, exchange arrangements5712-(78/41)9
    Floating, guidelinesB/G Res. 29-10317
    Fluctuating:
    Multiple currency practices (fixed and fluctuating rates)237-2217
    Scope of transactions to be agreed with Fund237-2218
    Free markets237-2218
    Multiple currency practices arising from official action6790-(81/43)225
    Notification to Fund5392-(77/63)13
    5712-(78/41)8
    Pegs, notification to Fund of changes5712-(78/41)8
    Unification in multiple rate systems a basic objective of Fund649-(57/33)223
    Exchange restrictions (see also Payments restrictions):
    Approval1034-(60/27)210
    Avoidance of escalation4134-(74/4)214
    4254-(74/75)227
    Bilateralism433-(55/42)204
    Capital transactions; see Capital transfers
    Consultations with Fund1034-(60/27)210
    Discrimination955-(59/45)208
    Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)209
    Introduction1034-(60/27)210
    Maintenance1034-(60/27)210
    Multiple currency practices237-2217
    649-(57/33)223
    6790-(81/43)227
    Payments arrears3153-(70/95)211
    Retention quotas201-(53/29)205
    Security reasons; see Payments restrictions Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)210
    Withdrawal, representation by Fund117-1235
    Exchange systems, avoidance of use for nonbalance of payments reasons1034-(60/27)210
    Exchange taxes237-2218, 223
    Notification to Fund5712-(78/41)9
    Exchange transactions; see Purchase transactions
    Executive Board:
    Annual review of decision on oil facility Subsidy Account*4773-(75/136)297
    6842-(81/71)297
    Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)14
    6026-(79/13)15
    6532-(80/93)16
    6815-(81/52)16
    Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)24
    Communication of changes in members’ exchange arrangements5712-(78/41)9
    Information on operation of buffer stocks3179-(70/102)65
    5127-(76/91)67
    5597-(77/171)69
    Notice of repayments under oil facility544l-(77/84)197
    Report to Board of Governors on quota increases under 7th General Review of QuotasB/G Res. 34-2327
    Review and change of rules for designation6209-(79/124) S261
    Review of broad developments in exchange rates5392-(77/63)14
    Review of decision on extended Fund facility*4377-(74/114)30
    5220-(76/144)30
    6140-(79/85)30
    6726-(81/7)31
    Review of decision on oil facility424l-(74/67)73
    4393-(74/121)74
    4529-(74/153)74
    *4634-(75/47)75, 76
    Review of functioning of international adjustment process5392-(77/63)12
    Review of prescriptions of holders of special drawing rights6467-(80/71) S240, 241
    Executive Directors:
    Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4234
    Appointment by members having 5 largest quotas2-1233
    Determination of members entitled to appoint under Article XII, Section 3(c)*574-2233
    Participation in meetings of Development CommiteeB/G Res. 29-9312
    Participation in meetings of Interim CommitteeB/G Res. 29-8307
    Voting power, effect of quota changes180-5234
    Export shortfalls, financing; see Compensatory financing of export fluctuations
    Extended arrangements*4377-(74/114)29
    Augmentation of rights to make purchases, eliminatlon5706-(78/39)26
    Charge*4377-(74/114)55
    4720-(75/114)31
    6838-(81/70)54
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)56, 267
    Form under enlarged access policy6838-(81/70)46
    Ineligibility6838-(81/70)53
    Provision for enlarged access to Fund’s resources6783-(81/40)39
    Provision for supplementary financing5508-(77/127)32
    6693-(80/177)38
    6725-(81/5)39
    Repurchases; see Repurchases
    Review of decision on extended Fund facility5220-(76/144)30
    6140-(79/85)30
    6726-(81/7)31
    Suspension of right to engage in purchase transactions6838-(81/70)53
    Extended Fund facility; see Extended arrangements
    External debt management policies6230-(79/140)22
    F “First credit tranche,” Fund attitude to request fortransactions25
    Floating rates; see Exchange rates
    Fluctuating exchange rates; see Exchange rates
    Free markets; see Exchange rates
    Freely usable currencies5719-(78/46)268
    Fund resources, use; see Use of Fund’s resources
    G General Agreement on Tariffs and Trade1034-(60/27)211
    4254-(74/75)229
    B/G Res. 29-10317
    General Arrangements to Borrow; see Borrowing by the Fund
    General Resources Account; see Accounts
    Gold:
    Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund*5703-(78/39)96
    5809-(78/88)98
    Sale, amounts available to Trust Fund5069-(76/72)275
    Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)270
    5709-(78/41) TR281
    5832-(78/95) TR282
    6540-(80/98) TR285
    Sale, transfer of profits to Trust Fund5069-(76/72)271
    Subscribed to Fund, ownership170-33
    Gross reserve position; see Reserve position, gross
    H Holdings of the Fund:
    Adjustment by Fund5590-(77/163)100
    Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)87
    6831-(81/65)98
    Attribution of reductions to repurchase obligations6831-(81/65)98
    Computations and adjustment, rates5590-(77/163)100
    Exclusion of holdings resulting from credit tranche purchases6830-(81/65)56, 267
    Exclusion under buffer stock facility5591-(77/163)266
    Exclusion under compensatory financing of export fluctuations2836-(69/87)266
    Exclusion under compensatory financing of fluctuations in the cost of cereal imports6860-(81/81)62
    Exclusion under enlarged access policy6783-(81/40)43
    Exclusion under extended Fund facility6830-(81/65)56, 267
    Exclusion under oil facility5371-(77/51)267
    Exclusion under supplementary financing facility5508-(77/127)36
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Repurchases; see Repurchases
    I Import restrictions imposed for balance of payments reasons, GATT members1034-(60/27)211
    Ineligibility; see Extended arrangements; Stand-by arrangements; Use of Fund’s resources
    Interest:
    Charge on loans from Trust Fund5069-(76/72)274
    Payment of interest on transferred claim under oil facility5974-(78/190)199
    Payment on Fund indebtedness to Bank for International Settlements*6863-(81/81)175
    Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)177, 179
    Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)147, 157
    Payment on Fund indebtedness to Swiss National Bank5288-(76/167)125, 126
    5331-(77/15)132
    5387-(77/61)129, 130
    5488-(77/116)132
    Payment on Fund indebtedness under General Arrangements to Borrow*1289-(62/1)109
    Payment on Fund indebtedness under oil facility4242-(74/67)191, 192
    4490-(74/140)196
    4635-(75/47)194
    4636-(75/47)196
    4919-(75/208)197
    Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185) G/TR289
    Payment under supplementary financing facility5509-(77/127), Annex136, 138
    6163-(79/96)141
    Payments by members under Trust Fund loan agreements6358-(79/188) TR284
    Interim Committee of the Board of Governors on the International Monetary System:
    EstablishmentB/G Res. 29-8306
    Review of functioning of international adjustment process5392-(77/63)12
    Rules of procedure320
    International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S246
    International Development Association, prescription as holder of special drawing rights6718-(81/1) S246
    International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S244
    International monetary system, reformB/G Comp. Res.305
    International Sugar and Tin Agreements; see Buffer stock financing facility
    Investment:
    Currencies held in oil facility Subsidy Account*4773-(75/136)296
    Currencies held in supplementary financing facility Subsidy Account6683-(80/185)G/TR289, 293
    6854-(81/78) SBS295
    Currency balances held in Trust Fund5069-(76/72)277
    5972-(78/189)280
    5973-(78/189) TR281
    J Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transferof Real Resources to Developing Countries:
    EstablishmentB/G Res. 29-9310
    Rules of procedure321
    Secretariat function, changes in organization of work and structure322
    M Managing Director:
    Arrangements for consultations on payment of interest on loans under oil facility4490-(74/140)196
    4636-(75/47)196
    4919-(75/208)197
    Arrangements for repayments of borrowing under oil facility544l-(77/84)197
    Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)186
    6845-(81/75)187
    Authority to establish oil facility Subsidy Account*4773-(75/136)295
    Authority to make calls under borrowing arrangements for oil facility474l-(75/120)195
    4917-(75/208)195
    Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)144
    Consultation by eligible member to requestassistance from Trust Fund5069-(76/72)272
    Consultation by member before making request under supplementary financing facility5508-(77/127)32
    Consultation by member contemplating request under extended Fund facility*4377-(74/114)27
    Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)39
    Consultation with members when notice of exchange policy change not received5712-(78/41)9
    Consultations and proposals to Executive Board concerning sale of currencies at request ofmembers with outstanding purchases6352-(79/183)82
    Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)141, 143
    Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements6854-(81/78) SBS295
    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)87
    Discussions with members on exchange policies5392-(77/63)14
    6026-(79/13)15
    Participation in meetings of Development CommitteeB/G Res. 29-9312
    Participation in meetings of Interim CommiteeB/G Res. 29-8308
    Placement of Trust Fund investments in SDRdenominated deposits5973-(78/189) TR281
    Proposal for allocation of SDRs for third basic periodB/G Res. 34-3338
    Proposals for calls under General Arrangements to Borrow*1289-(62/1)108
    1712-(64/29)120
    Proposals for Trust Fund investments5973-(78/189) TR281
    Recommendations to Executive Board regarding approval of use of Fund resources and stanaby arrangements6056-(79/38)21
    Selection of currencies for payment of charges5702-(78/39) G/S99
    Monetary stabilization operations, use of Fund’s resources71-217
    Multiple currency practices:
    Policy237-2215
    649-(57/33)223
    6790-(81/43)225
    Prior Fund approval5712-(78/41)9
    Spreads6790-(81/43)225
    N “Net creditor position in the Fund”6008-(79/3)141
    Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S243
    O Oil facility424l-(74/67)69
    4393-(74/121)74
    4529-(74/153)74
    1975 facility*4634-(75/47)75
    Subsidy Account*4773-(75/136)295
    Annual review and payments for financial year 19816842-(81/71)297
    Borrowing4242-(74/67)188
    4490-(74/140)196
    4635-(75/47)193
    4636-(75/47)196
    474l-(75/120)195
    4916-(75/208)195
    4917-(75/208)195
    4918-(75/208)196
    4919-(75/208)197
    Charges424l-(74/67)72
    *4634-(75/47)76
    Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)267
    Media of repayments of borrowing544l-(77/84)197
    Repurchases; see Repurchases
    Transferability of claims5974-(78/190)198
    Meaning of “net creditor position in the Fund”6008-(79/3)141
    Operational budgets:
    Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158) G/S78
    Sales of SDRs and use of currencies6772-(81/35) G/S84
    P Payments arrears3153-(70/95)211
    Payments policies of members4134-(74/4)214
    Payments restrictions (see also Exchange restrictions; Payments arrears):
    For security reasons, Fund jurisdiction144-(52/51)203
    Withdrawal or general abandonment117-1235
    Petroleum; see Oil facility
    “Position in the Fund,” definition6274-(79/158)80
    6772-(81/35) G/S85
    Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)203
    Purchase transactions (see also Use of Fund’s resources):
    Augmentation of rights to purchase under stand-by and extended arrangements, elimination5706-(78/39)55
    Purchases under buffer stock financing facility*2772-(69/47)64
    3179-(70/102)65
    5127-(76/91)66
    5591-(77/163)266
    5597-(77/171)61
    Purchases under compensatory financing of export fluctuations2836-(69/87)266
    6224-(79/135)57, 58, 59
    Purchases under compensatory financing of fluctuations in the cost of cereal imports6860-(81/81)59, 61, 62
    Purchases under credit tranche, see Tranche policies
    Purchases under extended arrangements5508-(77/127)33
    6783-(81/40)41
    6830-(81/65)56, 267
    6838-(81/70)51
    Purchases under oil facility424l-(74/67)70
    4393-(74/121)74
    * 4634-(75/47)75
    5371-(77/51)267
    Purchases under policy on enlarged access6783-(81/40)40, 41, 43
    Purchases under stand-by arrangements5508-(77/127)33
    6783-(81/40)40
    6838-(81/70)47
    Purchases under supplementary financing facility5508-(77/127)33, 36, 37
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal6838-(81/70)54
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)45
    6838-(81/70)49
    Suspension, effect on borrowing arrangements*1289-(62/1)114
    Suspension of transactions under extended arrangements6838-(81/70)53
    Suspension of transactions under stand-by arrangements*270-(53/95)45
    6838-(81/70)49
    Q Quotas:
    Adjustment, first interval of five years408-23
    Change, effect on voting power of elected Executive Director180-5234
    Reviews:
    1st408-23
    6th GeneralB/G Res. 29-10319
    B/G Res. 31-2324
    7th GeneralB/G Res. 34-2327
    Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S90
    R Rates for official communications of Fund534-3230
    Rates of exchange; see Exchange rates; Multiple currency practices
    Reconstitution; see Special drawing rights, Reconstitution
    Repayment by Fund of borrowed currency*1289-(62/1)110
    1712-(64/29)121
    4242-(74/67)189, 191
    5288-(76/167)124, 126
    5387-(77/61)128, 130
    5509-(77/127)134, 137, 140
    544l-(77/84)197
    6843-(81/75)147, 149
    6864-(81/81)178
    Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
    Repurchases:
    Attribution of reductions in Fund’s holdings of currencies6774-(81/35)87
    6831-(81/65)98
    Currency resulting from purchase under credit tranches*5703-(78/39)95
    Currency resulting from purchase under extended arrangement6838-(81/70)54
    Currency resulting from purchase under standby arrangement6838-(81/70)49
    Early, guidelines5704-(78/39)91
    6172-(79/101)93
    6273-(79/158)
    G/S78
    Guidelines for selection of currencies6274-(79/158)79
    6774-(81/35)85
    Obligations to pay gold, payment with SDRs or currencies of other members*5703-(78/39)96
    5809-(78/88)98
    Of Fund’s holdings102-(52/11)18
    Procedures*5703-(78/39)95
    Under buffer stock financing facility*5703-(78/39)95
    1977 International Sugar Agreement5597-(77/171)68
    Under compensatory financing of export fluctuations*5703-(78/39)95
    6224-(79/135)58
    Under compensatory financing of fluctuations in the cost of cereal imports*5703-(78/39)96
    6860-(81/81)62
    Under decision on enlarged access6783-(81/40)42
    Under extended Fund facility*4377-(74/114)29
    Repurchases (continued):
    Under oil facility424l-(74/67)72
    *4634-(75/47)76
    Under supplementary financing facility5508-(77/127)35
    Reserve assets, guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
    Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)
    G/S78
    Reserve tranche purchases (see also Use of Fund’s resources):
    Exclusion of purchases and holdings in credit tranches6830-(81/65)56, 267
    Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)266
    Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)266
    Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports6860-(81/81)62
    Exclusion of purchases and holdings under extended facility6830-(81/65)56, 267
    Exclusion of purchases and holdings under oil facility5371-(77/51)267
    Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)43
    Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)36
    Restrictions; see Exchange restrictions; Payments restrictions
    Retention quotas201-(53/29)205
    Rule G-1*1289-(62/1)113
    Rule O-2:
    Determination of exchange rate* 1289-(62/1)112
    5288-(76/167)124
    5387-(77/61)128
    5590-(77/163)100
    Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S238
    Rule P-7:
    Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S259
    Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178) S258
    Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S252
    Declaration concerning use of special drawing rights in accordance with prescription on pledges*6053-(79/34) S253
    Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations*6000-(79/1) S250
    Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S257
    Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations*6054-(79/34) S255
    Rule P-9, record of operations in special drawing rights*6000-(79/1) S250
    6001-(79/1) S252
    *6053-(79/34) S254
    *6054-(79/34) S256
    6336-(79/178) S258
    6337-(79/178) S259
    6437-(80/37) S259
    Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65) S264
    S Saudi Arabian Monetary Agency, borrowing agreement with Fund6843-(81/75)143
    Special drawing rights:
    Allocation for third basic periodB/GRes. 34-3338
    New participants5956-(78/180) S248
    6368-(79/191) S248
    Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127), Annex138
    Designation plans, assessment of strength of member’s balance of payments and gross reserve position6273-(79/158)
    G/S78
    Designation, review of rules and method of calculating amounts6209-(79/124) S260
    Holders prescribed by the Fund:
    Andean Reserve Fund6486-(80/77) S242
    Arab Monetary Fund6609-(80/126) S245
    Bank for International SettlementsB/GRes. 29-1301
    6484-(80/77) S242
    East Caribbean Currency Authority6487-(80/77) S243
    International Bank for Reconstruction and Development6718-(81/1) S246
    International Development Association6718-(81/1) S246
    International Fund for Agricultural Development6489-(80/77) S244
    Nordic Investment Bank6488-(80/77) S243
    Swiss National Bank6485-(80/77) S245
    Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S239
    Loans from Trust Fund expressed in5069-(76/72)274
    Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S238
    Payment of subscriptions6266-(79/156)7
    Reconstitution, abrogation of rules6832-(81/65) S264
    Sale by Fund to members for use in quota payments under 7th General Review6663-(80/160) S90
    Sales by Fund, guidelines6772-(81/35)
    G/S84
    SDR-denominated deposits with Bank for International Settlements5973-(78/189)
    TR281
    Transfers under Article V, Section 3(f)6275-(79/158)
    G/S81
    Transfers under Article V, Section 6(b), guide lines for selection of currencies6274-(79/158)79
    6774-(81/35)85
    Use in donations6437-(80/37) S259
    Use in donations and loans to supplementary financing facility Subsidy Account6683-(80/185)
    G/TR292
    Use in forward operations6337-(79/178) S258
    Use in loans6001-(79/1) S250
    Use in payment of charges5702-(78/39)
    G/S99
    Use in payment of transferred claims under oil facility5974-(78/190)199
    Use in payment of 25 per cent of quota increasesB/G Res. 31-2325
    B/G Res. 34-2328, 332
    Use in pledges*6053-(79/34) S252
    Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S245
    Use in repurchases*5703-(78/39)97
    5809-(78/88)98
    Use in settlement of financial obligations*6000-(79/1) S249
    Use in swap operations6336-(79/178) S256
    Use in transfers as security for performance of financial obligations*6054-(79/34) S254
    Valuation, change, application in borrowing under oil facility4242-(74/67)192
    Valuation for use in borrowing arrangements*1289-(62/1)112
    5288-(76/167)124
    5387-(77/61)128
    6843-(81/75)148
    Valuation, interimB/G Res. 29-10318
    Valuation method6631-(80/145)
    G/S236
    Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S238
    Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
    Stand-by arrangements:
    Augmentation of rights to make purchases, elimination5706-(78/39)55
    Charges6838-(81/70)49
    Conditionality, guidelines6056-(79/38)19
    Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)56
    Extended Fund facility, relationship*4377-(74/114)29
    Foreign borrowing, performance criteria6230-(79/140)23
    Form under enlarged access policy6838-(81/70)46
    Ineligibility*270-(53/95)44, 45
    6838-(81/70)49
    Payments arrears, performance criteria3153-(70/95)213
    Period*270-(53/95)44
    Policies and procedures*270-(53/95)44
    Provision for enlarged access to Fund’s resources6783-(81/40)39
    Provision for supplementary financing5508-(77/127)32
    6693-(80/177)38
    6725-(81/5)39
    Renewal*270-(53/95)44
    Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
    Suspension of right to engage in purchase transactions*270-(53/95)45
    6838-(81/70)49
    Subscriptions:
    Gold and currency, ownership by Fund170-33
    Payment of quota increasesB/GRes. 31-2325
    B/G Res. 34-2
    328, 332
    Reserve assets, guidelines for determining amount to be paid6266-(79/156)4
    Subsidy Accounts; see Accounts, Subsidy Accounts
    Sugar Agreement, International; see Buffer stock financing facility
    Supplementary financing facility:
    Charges; see Charges
    Establishment5508-(77/127)31
    Extension of period6725-(81/5)39
    No augmentation of rights to purchase5706-(78/39)55
    Replenishment of Fund’s holdings of currencies5509-(77/127)133
    Interest payments under borrowing agreements6163-(79/96)141
    Meaning of “net creditor position in the Fund”6008-(79/3)141
    Report on use6445-(80/43)37
    Repurchases; see Repurchases
    Review of decision on establishment6693-(80/177)38
    6725-(81/5)39
    Subsidy Account6704-(80/185)
    TR286
    Instrument6683-(80/185)
    G/TR287
    Investment of currencies6854-(81/78)
    SBS295
    Surveillance over exchange rate policies5392-(77/63)10
    Review of procedures6026-(79/13)15
    6532-(80/93)16
    6815-(81/52)16
    Swiss National Bank:
    Borrowing agreements with Fund5288-(76/167)123
    5387-(77/61)127
    Transfer charges and interest, media of payment5306-(77/2)132
    5331-(77/15)132
    5488-(77/116)132
    Use of special drawing rights to repay indebtedness6485-(80/77) S245
    Prescription as holder of special drawing rights6485-(80/77) S245
    Switzerland:
    Association with General Arrangements to Borrow1712-(64/29)119
    T Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)224
    Tin Agreements, International; see Buffer stock financing facility
    Trade, Voluntary Declaration4254-(74/75)227
    B/G Res. 29-10317
    Tranche policies:
    Application in connection with compensatory financing facility6224-(79/135)59
    Application in connection with decision on enlarged access6783-(81/40)40, 43
    Application in connection with oil facility4241-(74/67)71
    Application in connection with supplementary financing facility5508-(77/127)
    32, 36
    Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)56, 267
    Fund attitude to request for transactions within “first credit tranche” and beyond25
    Transferability of claims on Fund under oil facility and supplementary financing facility6008-(79/3)141
    5974-(78/190)198
    Transitional provisions of Article XIV117-1235
    1034-(60/27)210
    Trust Fund:
    Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)270
    5709-(78/41)
    TR281
    5832-(78/95)
    TR282
    6540-(80/98)
    TR285
    Diversification of investments5972-(78/189)280
    5973-(78/189)
    TR280
    Eligible members, review of list5563-(77/150)
    TR279
    Final payments of profits and loans for period July 1, 1976-June 30, 19785832-(78/95)
    TR282
    Instrument5069-(76/72)269
    Amendment5563-(77/150)
    TR279
    5972-(78/189)280
    6793-(81/45)287
    Means of payment of interest6358-(79/188)
    TR284
    Repayment terms:
    Final loan disbursement6793-(81/45)287
    Review6704-(80/185)
    TR285
    Second period:
    Extension6466-(80/68)
    TR283
    6676-(80/168)
    TR284
    Extension of period for qualification6202-(79/121)
    TR283
    Timing of loan disbursements6201-(79/121)
    TR282
    Termination and transfer of resources to Special Disbursement Account6683-(80/185)
    G/TR288
    6704-(80/185)
    TR285
    U Unenforceability; see Exchange contracts
    United Nations:
    Agreement with International Monetary Fund351
    Convention on the Privileges and Immunities of the Specialized Agencies359
    Application to Fund379
    List of members which have accepted with respect to Fund380
    United States dollars:
    Determination of value in terms of special drawing right pursuant to Rule O-2(a)6709-(80/189) S238
    Inclusion in operational budgets6772-(81/35)
    G/S85
    Use for payment of interest and other Fund liabilities5288-(76/167)127
    5306-(77/2)132
    5331-(77/15)132
    5387-(77/61)131
    5488-(77/116)
    132, 133
    6358-(79/188)
    TR284
    *6863-(81/81)175
    Use in payments under oil facility Subsidy Account6842-(81/71)298
    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)44
    Authority to use resources of Fund71-217
    Buffer stock financing*2772-(69/47)64
    Buffer stock financing facility as applied to 1977
    International Sugar Agreement5597-(77/171)67
    Buffer stock financing facility as applied to International Tin Agreements:
    4th3179-(70/102)65
    3351-(71/51)66
    5th5127-(76/9D66
    Capital transfers1238-(61/43)17
    Compensatory financing of export fluctuations6224-(79/135)
    57, 58, 59
    Conditionality, guidelines6056-(79/38)19
    “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-317
    Credit tranche policies; see Tranche policies
    Enlarged access, policy on6783-(81/40)39
    Extended Fund’ facility*4377-(74/114)26
    “First credit tranche”25
    In accordance with purposes of Fund102-(52/11)18
    Ineligibility:
    Effect on purchases under extended arrangement6838-(81/70)53
    Effect on purchases under stand-by arrangement*270-(53/95)44, 45
    6838-(81/70)49
    Under Article V, Section 5284-389
    Under Article XXVI, Section 2(a) (Artiticle XV, Section 2(a) before Second Amendment)343-(54/47)265
    Limitation under Article V, Section 5284-389
    286-189
    Monetary stabilization71-217
    Oil facility; see Oil facility
    Postponement, limitation under Article V, Section 5286-189
    Reserve tranche purchases; see Reserve tranche purchases
    Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request6838-(81/70)54
    Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)45
    6838-(81/70)49
    Stand-by and extended arrangements, forms under enlarged access policy6838-(81/70)46
    Suspension of exchange transaction, effect on borrowing arrangements*1289-(62/1)114
    Suspension of transactions under extended arrangements6838-(81/70)53
    Suspension of transactions under stand-by arrangements*270-(53/95)45
    6838-(81/70)49
    Temporary assistance in financing balance of payments deficits71-217
    Tranche policies; see Tranche policies
    Waiver of condition of Article V, Section 3(b) (iii); see Waiver of condition
    Waiver of 200 per cent of quota limit*2772-(69/47)64
    6224-(79/135)58
    6860-(81/81)63
    V Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)227
    B/G Res. 29-10317
    Voting power, elected Executive Directors, effect of change in quota180-5234
    W Waiver of condition of Article V, Section 3(b) (iii)4241-(74/67)71
    *4377-(74/114)28
    5508-(77/127)36
    6783-(81/40)43
    World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)14

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

    Corresponds to Article XXXI, Section 1 of the Articles of Agreement after the Second Amendment.

    Not included in this volume.

    Not included in this volume.

    The remainder of the provisions of this decision are no longer in effect, but see footnote to Decision No. 270-(53/95) on page 45.

    See Decision No. 6830-(81/65), April 22, 1981, effective May 1, 1981, on page 267.

    Corresponds to Article V, Section 3 (b) (iii) of the Articles of Agreement after the Second Amendment.

    Corresponds to Article VII, Section 1 of the Articles of Agreement after the Second Amendment.

    Reproduced on pages 133-34.

    Reproduced on pages 26-30.

    For the form of stand-by arrangements, see pages 46–51.

    Corresponds to Article XXVII, Section 1 (a) (i) of the Articles of Agreement after the Second Amendment.

    For the subject matter of paragraphs 5 and 6, charges for stand-by arrangements, see Rule I-8 of the Rules and Regulations in By-Laws, Rules and Regulations, Thirty-Seventh Issue, January 1, 1981.

    A section of this decision, not reproduced, provides that Decision No. 102-(52/11) would continue in effect after 1953 subject to review from time to time.

    The text would be adapted for a stand-by arrangement for only one year.

    The text to be added will depend on the situation of the member at the time.

    The performance criteria enumerated here are indicative only.

    These subparagraphs would be adapted in accordance with the period of the stand-by arrangement.

    The text to be added will depend on the situation of the member at the time.

    The performance criteria enumerated here are indicative only.

    Paragraph 1 of this decision appears on page 267.

    Paragraph 2 of this decision is incorporated in paragraph 4 (a) of Decision No. 4377-(74/114), see page 28 above.

    For paragraph 5, see paragraph 1 of Decision No. 5703-(78/39), reproduced on pages 95-97.

    Corresponds to Article V, Section 3 (b) (iii) of the Articles of Agreement after the Second Amendment.

    Refers to the Articles of Agreement in effect before the Second Amendment.

    Not included in this volume.

    See Rule I-6 (1) and (2) of the Rules and Regulations adopted effective April 22, 1981.

    In accordance with this provision, the decision has been reviewed several times. The final review took place under Decision No. 4986-(76/47), March 18, 1976.

    Not included in this volume.

    Pursuant to Decision No. 6775-(81/35) G/S, adopted March 5, 1981, this decision will be reviewed early in 1982.

    Corresponds to Rule G-4 of the Rules and Regulations adopted April 29, 1981, effective May 1, 1981.

    Corresponds to Article V, Section 8(b), (c), and (d) of the Articles of Agreement after the Second Amendment.

    The association of Switzerland has been extended until July 15, 1985 (Decision No. 6524-(80/88), June 9, 1980).

    Rule O-3 is not included in this volume; it corresponds to Rule O-2 in the Fund’s By-Laws, Rules and Regulations, Thirty-Seventh Issue, January 1, 1981.

    No longer in effect. For the amended Paragraph 9(b), see page 109.

    Corresponds to Rule O-2 of the Rules and Regulations in By-Laws, Rules and Regulations, Thirty-Seventh Issue, January 1, 1981.

    Corresponds to Rule O-2 of the Rules and Regulations in By-Laws, Rules and Regulations, Thirty-Seventh Issue, January 1, 1981.

    No longer in effect. For the amended Paragraph 9 (b). see page 109.

    Corresponds to Schedule K of the Articles of Agreement after the Second Amendment.

    See Decision No. 5706-(78/39), reproduced on page 55.

    This sentence will be worded in its final form as soon as the arrangements with paying agents have been completed.

    These blanks will be filled in as soon as the arrangements with agents for the receipt of process are completed.

    Yearbook of the International Law Commission of the U.N., Volume II, part 2 (1977), p. 118.

    Ibid.

    Ibid.

    The agreement entered into force on June 1, 1981.

    For the one-year Note, the text would include in the first paragraph the sentence in brackets, the alternative text in the bracket in the second paragraph, the third paragraph in brackets, and the Record of Interest Payment at the end.

    Corresponds to Article VII, Section 1 (i) of the Articles of Agreement after the Second Amendment.

    Corresponds to Article VII, Section 1 (i) of the Articles of Agreement after the Second Amendment.

    Corresponds to Rule O-2 of the Rules and Regulations in By-Laws, Rules ana Regulatiom, Thirty-Seventh Issue, January 1, 1981.

    Corresponds to Rule O-2 of the Rules and Regulations in By-Laws, Rules and Regulations, Thirty-Seventh Issue, January 1, 1981.

    Corresponds to Schedule K of the Articles of Agreement after the Second Amendment.

    Corresponds to Article XXIX of the Articles of Agreement after the Second Amendment.

    Corresponds to Article VII, Section 1 (i) of the Articles of Agreement after the Second Amendment.

    Corresponds to Article XXIX of the Articles of Agreement after the Second Amendment.

    Corresponds to Article XIV, Section 1 of the Articles of Agreement after the Second Amendment.

    Refers to the Articles of Agreement in effect before the Second Amendment.

    Refers to the Articles of Agreement in effect before the Second Amendment.

    These conclusions concerning the Fund’s jurisdiction and the obligation of members apply to all members including those for whose currencies par values have not been established.

    Corresponds to Article XIV, Section 3 of the Articles of Agreement after the Second Amendment.

    Refers to the Articles of Agreement in effect before the Second Amendment.

    Corresponds to Article XIV, Section 3 of the Articles of Agreement after the Second Amendment.

    Not included in this volume.

    Corresponds to Article XIV, Section 3 of the Articles of Agreement after the Second Amendment.

    The BIS was prescribed as a holder of SDRs by Board of Governors Resolution No. 29-1, effective January 21, 1974.

    See also Decision No. 6273-(79/158) GIS, September 14, 1979, on pages 78-79.

    Corresponds to Article XXIX (a) of the Articles of Agreement after the Second Amendment.

    Corresponds to Article XXVI, Section 2 (a) of the Articles of Agreement after the Second Amendment.

    Not included in this volume.

    Corresponds to Article XXX (c) (i) of the Articles of Agreement after the Second Amendment.

    For information on paragraphs 2-4, see page 56.

    See Annual Report of the Executive Directors for the Fiscal Year Ended April 30, 1976, pages 116-17.

    See Annual Report of the Executive Directors for the Fiscal Year Ended April 30, 1976, pages 116-17.

    See Annual Report of the Executive Board for the Financial Year Ended April 30, 1978, pages 131-32.

    The paper and its supplement are not included in this volume.

    Not included in this volume.

    Interest due in 1977, 1978, and on June 30, 1979 was paid in U.S. dollars pursuant to decisions adopted in 1977, 1978, and on June 18, 1979.

    Not included in this volume.

    Not included in this volume.

    Not included in this volume.

    Not included in this volume.

    In accordance with this provision, the decision has been reviewed on several occasions. For the 1981 review, see Decision No. 6842-(81/71), April 30 1981, which follows.

    Not included in this volume.

    The Bank for International Settlements adhered to this Resolution in accordance with paragraph 11 above by letter dated January 30, 1974.

    Annual Report of the Executive Directors for the Fiscal Year Ended April 30, 1974, pages 116-18, 119.

    Not included in this volume.

    See pages 324-26.

    Adopted by the Board of Governors, effective December 11, 1978, and designated No. 34-2.

    Corresponds to Article XVIII, Section 4(c) of the Articles of Agreement after the Second Amendment.

    Because the percentage is to be rounded to the nearest one tenth of one percentage point, an allocation could in practice exceed or fall short of the desired amount by not more than one-twentieth of one percentage point of total quotas, i.e., a difference in absolute terms that would not be greater than about SDR 19 million on the basis of quotas at the present time.

    For a participant to be able to “opt out,” in accordance with Article XVIII, Section 2 (e), it must not have voted in favor of the resolution and must inform the Fund before the first allocation under the resolution that it does not wish to receive allocations under that resolution.

    See pages 333-37.

    Adopted by the Board of Governors, effective December 11, 1978, and designated No. 34-3.

    The Agreement came into force November 15, 1947.

    The Convention was adopted by the United Nations General Assembly on November 21, 1947. The Executive Directors of the Fund accepted the standard clauses of the Convention and approved Annex V with respect to the Fund on April 11, 1949. The Annex became effective on May 9, 1949, when it was received by the United Nations.

    China accepted the Convention with respect to the Fund as of June 30, 1981.

    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.

      You are not logged in and do not have access to this content. Please login or, to subscribe to IMF eLibrary, please click here

      Other Resources Citing This Publication