Front Matter

Front Matter

Author(s):
Parmeshwar Ramlogan, and Bernhard Fritz-Krockow
Published Date:
April 2007
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    International Monetary Fund Handbook

    Its Functions, Policies, and Operations

    Bernhard Fritz-Krockow Parmeshwar Ramlogan Editors

    January 2007

    © International Monetary Fund

    Cover Photo: IMF Staff Photographer/Eugene Salazar

    Cataloging-in-Publication Data

    International Monetary Fund handbook: its functions, policies, and operations / Bernhard Fritz-Krockow and Parmeshwar Ramlogan, editors—Washington, D.C.: International Monetary Fund, Secretary’s Dept., 2007.

    p. cm.

    Includes bibliographical references.

    ISBN 978-1-58906-625-0

    1. International Monetary Fund—Handbooks, manuals, etc. 2. Economic policy—Handbooks, manuals, etc. 3. Balance of payments—Handbooks, manuals, etc. 4. Special drawing rights—Handbooks, manuals, etc. 5. Technical assistance—Handbooks, manuals, etc. 6. World Bank—Handbooks, manuals, etc. 7. World Trade Organization—Handbooks, manuals, etc.. I. Fritz-Krockow, Bernhard. II. Ramlogan, Parmeshwar. III. International Monetary Fund. Secretary’s Dept.

    HG3881.5.I58 I584 2007

    Contents

    Foreword

    This Handbook is intended to give a general overview of the IMF’s functions, policies and operations, although it is not intended to serve as an authoritative description of the rules governing these functions, policies, and operations. The Handbook provides, without commentary, a general and factual description of the IMF’s mandate, its governance and internal organization, the policies that guide its day-to-day operations and interactions with member countries, and the internal procedures through which these policies are executed. The Handbook should be useful to new IMF staff members, to Executive Directors and their staff, and to members of the public in general who are interested in the IMF’s mandate, policies, and operations. However, it is important to note that the publication provides but a snapshot of the IMF at the time of writing, as the continued evolution in the demands of the global economy and the role of the IMF therein will be persistent forces of change that will continue shaping the IMF’s functions, policies, and operations.

    The Handbook draws heavily on IMF documents and, for accuracy, the language is kept as close as possible to the originals. The source documents include the Articles of Agreement, Executive Board decisions, summings up of Executive Board discussions, annual reports of the IMF, staff reports and memoranda, pamphlets, fact-sheets, and IMF staff publications. All of the documents are available to the public and many are also accessible through the IMF’s external website. The Handbook provides references in the endnotes to the relevant IMF documents, while footnotes provide some additional information that could be of interest to the reader.

    The authors are grateful for the assistance of Elena Michaels, Antonella Tarantino, Henry Mooney, and Wasima Rahman-Garrett in the preparation of this publication. We also want to thank Celia Zufriategui, Lorna Sibblies, and Choon Hwee Lee for facilitating the production and publication. The present publication has been reviewed by staff from the Secretary’s Department and from other departments, and the authors gratefully acknowledge the extensive comments and suggestions received.

    Abbreviations and Acronyms

    ACB

    Africa Capacity-Building Initiative

    ACBF

    African Capacity Building Foundation

    AFRITAC

    African Regional Technical Assistance Center

    AML/CFT

    Anti-Money Laundering and Combating the Financing of Terrorism

    AREAER

    Annual Review of Exchange Arrangements and Exchange Restrictions

    ASEAN

    Association of Southeast Asian Nations

    BIS

    Bank of International Settlements

    CAC

    Collective Action Clause

    CAM

    Committee on Executive Board Administrative Matters

    CARTAC

    Caribbean Regional Technical Assistance Center

    CCL

    Contingent Credit Lines

    CEMAC

    Central African Economic and Monetary Community

    CFF

    Compensatory Financing Facility

    CMCG

    Capital Markets Consultative Group

    DC

    Development Committee

    DQAF

    Data Quality Assessment Framework

    DSA

    Debt Sustainability Analysis

    DSBB

    Dissemination Standards Bulletin Board

    ECCB

    Eastern Caribbean Central Bank

    ECCU

    Eastern Caribbean Currency Union

    ECOSOC

    Economic and Social Council

    EFF

    Extended Fund Facility

    EFM

    Emergency Financing Mechanism

    ENDA

    Emergency Natural Disaster Assistance

    EPCA

    Emergency Post Conflict Assistance

    ESAF

    Enhanced Structural Adjustment Facility

    ESF

    Exogenous Shocks Facility

    EU

    European Union

    EURIBOR

    Euro Interbank Offered Rate

    FAA

    Framework Administered Account for Technical Assistance Activities

    FAD

    Fiscal Affairs Department

    FATF

    Financial Action Task Force

    FCC

    Forward Commitment Capacity

    FIRST

    Financial Sector Reform and Strengthening Initiative

    FSAP

    Financial Sector Assessment Program

    FSI

    Financial Soundness Indicator

    FSLC

    Bank-Fund Financial Sector Liaison Committee

    FSRB

    FATF-Style Regional Body

    FSSA

    Financial System Stability Assessment

    FY

    Fiscal Year

    GAB

    General Arrangements to Borrow

    SM

    Staff Memorandum

    SMP

    Staff-Monitored Program

    SRF

    Supplemental Reserve Facility

    STA

    Statistics Department

    TIM

    Trade Integration Mechanism

    TMU

    Technical Memorandum of Understanding

    TPRM

    Trade Policy Review Mechanism

    UN

    United Nations

    UNDP

    United Nations Development Programme

    WEMD

    World Economic and Market Developments

    WAEMU

    West African Economic and Monetary Union

    WEO

    World Economic Outlook

    WTO

    World Trade Organization

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