Front Matter

Front Matter

Author(s):
International Monetary Fund. Legal Dept.
Published Date:
August 2016
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    SELECTED DECISIONS

    AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

    THIRTY-EIGHTH ISSUE

    WASHINGTON, DC

    FEBRUARY 29, 2016

    © 2016 International Monetary Fund

    Cataloging-in-Publication Data

    Joint Bank-Fund Library

    International Monetary Fund.

    Selected decisions and selected documents of the International Monetary Fund. — Washington, D.C.: International Monetary Fund, 1962-

    • v. cm.

    • Annual

    • 1st (1962)-

    • ISSN 0094-1735

    1. International Monetary Fund—Periodicals. 2. International finance—Periodicals.

    HG3881.5.I58 I59

    ISBN-13: 978-1-51358-187-3 (paper)

    ISBN-13: 978-1-51358-838-9 (web PDF)

    Please send orders to:

    International Monetary Fund, Publication Services

    P.O. Box 92780, Washington, D.C. 20009, U.S.A.

    Telephone: (202) 623-7430 Fax: (202) 623-7201

    E-mail: publications@imf.org

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    www.imfbookstore.org

    Preface

    This volume is the Thirty-Eighth Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.

    As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions.

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

    A compact disc (CD) containing the texts of the Thirty-Eighth Issue, the Articles of Agreement, and By-Laws, Rules and Regulations is available from the Fund.

    Sean Hagan

    The General Counsel

    Director of the Legal Department

    Contents

    List of Decisions by Number

    NumberPage
    1946–1951
    71-2302, 522
    117-1788
    170-317
    180-5733
    237-2584
    284-3473
    284-4303
    286-1473
    287-3302
    408-21
    446-4572
    534-3692
    574-2724
    597-4724
    1952–2007
    144-(52/51)574
    201-(53/29)577
    433-(55/42)575
    541-(56/39)523
    649-(57/33)592
    955-(59/45)578
    1034-(60/27)580
    1238-(61/43)302, 522
    1289-(62/1)535
    3153-(70/95)419, 581
    4134-(74/4)583
    4239-(74/67)481
    4377-(74/114)368
    5392-(77/63)82
    5590-(77/163)498
    5702-(78/39)483
    5703-(78/39)475
    5712-(78/41)21
    6000-(79/1) S813
    6001-(79/1) S815
    6053-(79/34) S816
    6054-(79/34) S818
    6056-(79/138)67, 310
    6172-(79/101)477
    6209-(79/124) S823
    6230-(79/140)318, 326
    6266-(79/156)17
    6273-(79/158) G/S G/S466, 823
    6274-(79/158)466, 467
    6275-(79/158) G/S466
    6336-(79/178) S820
    6337-(79/178) S821
    6352-(79/183)466
    6358-(79/188) TR864
    6437-(80/37) S822
    6467-(80/71) S803
    6484-(80/77) S804
    6486-(80/77) S804
    6487-(80/77) S804
    6488-(80/77) S804
    6489-(80/77) S804
    6540-(80/98) TR865
    6609-(80/126) S804
    6663-(80/160) S474
    6683-(80/185) G/TR873, 874
    6704-(80/185) TR500, 866
    6709-(80/189) S800
    6718-(81/1) S804
    6774-(81/35)471
    6790-(81/43)592
    6793-(81/45)867
    6830-(81/65)368, 862
    6831-(81/65)480
    6832-(81/65) S828
    6844-(81/75)564
    6845-(81/75)565
    6854-(81/78) SBS879
    6908-(81/101) S804
    7060-(82/23)862
    7064-(82/26) S804
    7086-(82/42) S804
    7116-(82/68) S829
    7142-(82/85) TR864
    7229-(82/136) S804
    7337-(83/37)535
    7427-(83/83)81
    7582-(83/174) S804
    7628-(84/25)540
    7629-(84/25)540
    7707-(84/79) S804
    7842-(84/165)168, 328
    343, 344
    371, 375
    7908-(85/26)833
    7925-(85/38)311, 313, 388
    7930-(85/41)484
    7989-(85/81) SBS875
    8160-(85/186) G/S792
    8165-(85/189) G/TR486
    8185-(86/9) SBS/S875
    8186-(86/9) SBS/S805
    8222-(86/45)87
    8237-(86/56) SAF518
    8238-(86/56) SAF499
    8239-(86/56) SAF806
    8240-(86/56) SAF507
    8241-(86/56) SAF515
    8271-(86/74)487
    8433-(86/175)484
    8642-(87/101) S/TR805
    8648-(87/104)594
    8733-(87/159)535
    8757-(87/176) SAF/ESAF516
    8759-(87/176) ESAF158
    8760-(87/176)518
    8845-(88/61) ESAF157
    8846-(88/61) ESAF157
    8937-(88/118) ESAF/S806
    8955-(88/126)479
    9605-(90/170)742
    9862-(91/156)567
    10175-(92/129)535
    10176-(92/129)535
    10182-(82/132)368
    10286-(93/23) ESAF521
    10305-(93/32)784
    10365-(93/67)88
    10464-(93/130)368, 833
    10531-(93/170) SAF517
    10749-(94/67)575
    10942-(95/33)137
    10968-(95/43)719
    11248-(96/38)326
    11381-(96/105)934, 943
    11428-(97/6)558
    11429-(97/6)563
    11436-(97/10)230
    11492-(97/45)230
    11609-(97/112)535
    11627-(97/123) SRF336
    11698-(98/38) ESAF251
    11832-(98/119) ESAF158, 223
    11837-(98/121)469
    11846-(98/125)47
    11857-(98/130)863
    11861-(98/131) ESAF230
    11945-(99/49)490
    11976-(99/59) S827
    12062-(99/130)807
    12067-(99/108)339
    12087-(99/118) PRGF225, 230
    12152-(00/21)499
    12189-(00/45)492
    12239-(00/71)733
    12249-(00/77)343, 346
    12250-(00/77)344
    12251-(00/77)344
    12252-(00/77)158
    12253-(00/77)345
    12254-(00/77)226
    12278-(00/86)377
    12281-(00/98)791
    12329-(00/113)804
    12346-(00/117)482
    12424-(01/13)690
    12546-(01/84)846
    12548-(01/84)345
    12559-(01/85) PRGF227
    12661-(02/6)83
    12662-(02/6)121
    12663-(02/6)787
    12696-(02/27)230, 239,
    240
    12697-(02/27) ESAF248, 251
    12864-(02/102)311
    12865-(02/102)360
    12879-(02/113)535
    12881-(02/113)558
    12884-(02/114131
    12899-(02/119)50
    12925-(03/1)719
    13004-(03/39)226
    13005-(03/39)875
    13183-(04/10)603
    13229-(04/33)419
    13454-(05/26)464
    13561-(05/85)154
    13564-(05/85)343
    13589-(05/99)251
    13590-(05/99) ESF158, 230
    13595-(05/99) G/S791
    13654-(06/1)51
    13655-(06/1)53
    13656-(06/1)54
    13707-(06/40)494
    13710-(06/40) IA743
    13774-(06/78)158
    13775-(06/78)230
    13797-(06/88)230, 247
    13814-(06/98)129, 154,
    311, 355,
    419, 432,
    482, 595,
    603,
    607
    13849-(06/108)343
    13911-(07/35)492
    13919-(07/51)25, 405
    13996-(07/100)558
    13997-(07/100)535
    14003-(07/107)401
    14036-(08/1)432, 607
    14039-(08/3)230
    14059-(08/15)50, 51
    14060-(08/15)52, 53
    14061-(08/15)54
    14062-(08/15)49, 50
    14064-(08/18)387, 434,
    436
    14065-(08/18)226
    14093-(08/32)521
    14107-(08/38)603
    14153-(08/82)154, 158
    14184-(08/93)336, 436,
    464
    14235-(09/1)154, 432
    14253-(09/8)154, 158, 268
    14260-(09/11)83
    14280-(09/29)332
    14281-(09/29)313
    14282-(09/29)336
    14283-(09/29)360, 381,
    388, 395
    14284-(09/29)436, 464
    14285-(09/29)482
    14287-(09/29)158, 368,
    479, 480
    14294-(09/31)142
    14317-(09/41)155
    14354-(09/79)154, 157,
    158, 180,
    223, 226,
    230, 231,
    345, 419,
    494, 603
    14367-(09/65)567
    14379-(09/67)570
    14407-(09/105)329, 368
    14487-(09/125)120
    14496-(09/126)492
    14498-(09/126)688
    14517-(10/1)719
    14521-(10/3)288, 514
    14522-(10/3)508
    14577-(10/35)543, 558,
    559
    14593-(10/41)158, 222
    14649-(10/64)284
    14650-(10/64)283, 301
    14714-(10/83)381
    14715-(10/83)387, 388
    14716-(10/83)436
    14721-(10/80)558
    14725-(10/84)861
    14728-(10/85)614
    14736-(10/92)79, 81, 98
    14747-(10/96)79, 81
    14766-(10/115)86, 406, 688
    14769-(10/110) G/S790, 792
    14821-(11/1)790
    14860-(11/23)3
    15014-(11/110)549, 555,
    558
    15015-(11/112)410
    15017-(11/112)79, 311, 313,
    388, 396, 436
    15018-(11/112)230
    15019-(11/112)388
    15031-(11/115)230
    15035-(11/116)159
    15072-(12/1)558
    15073-(12/1)549, 561
    15092-(12/19)202, 480
    15105-(12/17)514
    15106-(12/21)81
    15113-(12/24)368
    15141-(12/39)494
    15176-(12/58)567
    15203-(12/72)25, 98
    15207-(12/74)86
    15211-(12/76)690
    15224-(12/82)508
    15225-(12/83)840
    15226-(12/83)159
    15228-(12/95)207
    15256-(12/96)614
    15257-(12/96)660
    15262-(12/105)532
    15303-(13/1)159
    15314-(13/6)745
    15320-(13/10)329
    15333-(13/23)732
    15350-(13/32)514
    15351-(13/32)508
    15352-(13/32)159
    15354-(13/32)154
    15355-(13/32)406
    15356-(13/32)268
    15380-(13/37)756
    15420-(13/61)687, 688, 779
    15462-(13/97)326
    15481-(13/103)159, 164,
    402, 406
    15482-(13/103)159, 171
    15494-(13/103)81
    15495-(13/111)98, 103
    15547-(14/19)688
    15564-(14/29)660
    15576-(14/36)159
    15578-(14/37)831
    15579-(14/37)278
    15580-(14/37)874
    15581-(14/37)210
    15583-(14/37)755
    15584-(14/37)756
    15585-(14/37)495
    15593-(14/46)381
    15594-(14/46)388
    15595-(14/46)410
    15596-(14/46)396
    15676-(14/94)492
    15688-(14/107)154, 318
    15692-(14/109)159
    15706-(14/112)3
    15708-(15/12)274, 275, 279,
    280, 283, 284, 301
    15763-(15/39)404, 406
    15764-(15/39)436
    15769-(15/41)874
    15770-(15/41)210
    15771-(15/41)755
    15772-(15/41)485
    15781-(15/43)756
    15803-(15/62)159
    15804-(15/62)154
    15805-(15/62)779
    15806-(15/62)779
    15807-(15/62)268
    15810-(15/63)278
    15811-(15/63)275, 278,
    279
    15818-(15/66)159
    15819-(15/66)159, 168, 201
    15820-(15/66)410
    15821-(15/66)409, 410
    15826-(15/67)660
    15827-(15/67)667
    15830-(15/70)567
    15834-(15/73)514
    15835-(15/73)508
    15840-(15/77)202, 205
    15853-(15/80)861
    15854-(15/80)790, 791
    15857-(15/82)745
    15890-(15/109)796
    15891-(15/109)791, 792,
    799
    15923-(16/1)7
    15931-(16/4)436
    15941-(16/14)434, 436
    15942-(16/14)388
    15943-(16/14)482
    15945-(16/14)79
    15946-(16/14)464
    A-9786-(93/20)727
    A-11780693
    A-13207406

    List of Board of Governors’ Resolutions

    NumberPage
    IM-6879
    6–8880
    24–12809
    29–7881
    29–8881, 883
    29–9881, 894, 898
    29–10881
    34–2474
    34–3810
    48–4887
    54–92883
    63–24
    64–3811
    66–216
    67–2893

    Interpretations Under Article XXIX(a)

    Interpretations of Articles of Agreement (71–2) 302, 522, 579

    Unenforceability of Exchange Contracts: Fund’s Interpretation of Article VIII, Section 2(b) (446–4) 572

    Interpretation of Article IX, Section 7 (534–3) 692

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