Financial Organization and Operations of the IMF

Front Matter

Author(s):
International Monetary Fund
Published Date:
December 2001
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    Financial Organization and Operations of the IMF

    Treasurer’s Department

    INTERNATIONAL MONETARY FUND

    Washington, D.C.

    2001

    ISSN 0538-8759

    ISBN 1-58906-067-9

    Sixth Edition, 2001

    Please send orders to:

    International Monetary Fund, Publication Services

    700 19th Street, N.W., Washington, D.C. 20431, U.S.A.

    Tel.: (202) 623-7430 Telefax: (202) 623-7201

    E-mail: publications@imf.org

    Internet: http://www.imf.org

    Contents

    Unless indicated otherwise, statistical information is given for financial year 2001, which began May 1, 2000 and ended April 30, 2001. Current financial information is available on the IMF’s website (www.imf.org/external/fin.htm). The following conventions have been used in this pamphlet:

    n.a. to indicate not applicable;

    • … to indicate that data are not available;

    • — to indicate that the figure is zero or less than half the final digit shown or that the item does not exist;

    • ( ) to indicate that the figure is negative;

    • - between years or months (for example, 2000-01, or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years or months (for example, 2000/01) to indicate a fiscal or financial year.

    “Billion” means a thousand million; “trillion” means a thousand billion.

    “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

    Minor discrepancies between constituent figures and totals are due to rounding.

    All references to dollars are to U.S. dollars unless otherwise indicated; as of April 30, 2001, the SDR/U.S. dollar exchange rate was US$1 = SDR 0.790019, and the U.S. dollar/SDR exchange rate was SDR 1 = US$1.26579.

    As used in this pamphlet, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

    Preface

    This extensively revised edition of the pamphlet Financial Organization and Operations of the IMF is part of a broader effort to improve the transparency of all of the IMF’s financial activities. The IMF’s new financial statements, conforming fully with International Accounting Standards, are used in this pamphlet to present the financial operations in a generally recognized framework. The IMF’s external website contains current information on all elements of the IMF’s financial activities (www.imf.org/external/fin.htm) and is used widely by the interested public. This pamphlet provides the context and analytical background to the information on the website.

    This new edition has been prepared by staff members of the Treasurer’s Department under the direction of Michael Wattleworth, Advisor. I would also like to acknowledge the valuable contribution of colleagues in the Policy Development and Review, Legal, and External Relations Departments. The views expressed in this pamphlet, including any legal aspects, are those of the IMF staff and should not be attributed to Executive Directors of the IMF or their national authorities.

    This edition is current as of spring 2001. The pamphlet will be updated as warranted.

    Eduard Brau

    Treasure

    International Monetary Fund

    Abbreviations

    BIS

    Bank for International Settlements

    CFF

    Compensatory Financing Facility

    CCL

    Contingent Credit Line

    EAC

    External Audit Committee

    EAP

    Enlarged Access Policy

    EFF

    Extended Fund Facility

    ESAF

    Enhanced Structural Adjustment Facility

    FSAP

    Financial Sector Assessment Program

    GAB

    General Arrangements to Borrow

    GDDS

    General Data Dissemination System

    GRA

    General Resources Account

    HIPC

    Heavily Indebted Poor Countries

    IAS

    International Accounting Standards

    IDA

    International Development Association

    IMFC

    International Monetary and Financial Committee

    ISA

    International Standards on Auditing

    MTI

    Medium-Term Instrument

    NAB

    New Arrangements to Borrow

    NPV

    Net Present Value

    OPEC

    Organization of the Petroleum Exporting Countries

    PIN

    Public Information Notice

    PRGF

    Poverty Reduction and Growth Facility

    PRSP

    Poverty Reduction Strategy Paper

    QFRG

    Quota Formula Review Group

    RAP

    Rights Accumulation Program

    ROSC

    Report on the Observance of Standards and Codes

    SAF

    Structural Adjustment Facility

    SAMA

    Saudi Arabian Monetary Agency

    SCA

    Special Contingent Account

    SDA

    Special Disbursement Account

    SDDS

    Special Data Dissemination Standard

    SDR

    Special Drawing Right

    SRF

    Supplemental Reserve Facility

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