This paper discusses 56th issue of the By-Laws and Rules and Regulations of the IMF. It highlights that the principal office of the IMF shall be located within the metropolitan area of Washington, DC. The Executive Board may establish and maintain agencies or branch offices at any place in the territories of other members, whenever it is necessary to do so to facilitate the efficient conduct of the business of the IMF. The Board of Governors shall hold regular meetings, which shall be at annual intervals unless the Board of Governors decides otherwise.


  1. By-Laws of the International Monetary Fund

    1. Places of Business

    2. General Department and Special Drawing Rights Department

    3. Meetings of the Board of Governors

    4. Notice of Meetings of the Board of Governors

    5. Attendance at Meetings

    6. Agenda of Meetings of the Board of Governors

    7. Selection of Chairman and Vice-Chairmen

    8. Secretary

    9. Minutes

    10. Report of Executive Board

    11. Voting

    12. Proxies

    13. Voting Without Meeting

    14. Terms of Service

    15. Delegation of Authority

    16. Rules and Regulations

    17. Vacant Directorships

    18. Additional Directors

    19. Representation of Members at Meetings of Fund Organs

    20. Budget and Audits

    21. Applications for Membership

    22. Compulsory Withdrawal

    23. Settlement of Disagreements with Withdrawing Member

    24. Amendment of By-Laws

  2. Rules and Regulations of the International Monetary Fund

    1. Scope of Rules and Regulations

    2. Terms and Definitions

    3. The Executive Board

      • Meetings

      • Agenda

      • Voting

      • Language

      • Minutes

      • Application for Membership and Change in Quota

      • Application for Membership

      • Quotas

      • Substitution of Securities for Currency

      • Gold

      • Operations and Transactions

      • Exchange Controls, Currency Practices, Agreements, and Information

      • Charges in Respect of General Resources Account Transactions and Remuneration

  3. Accounting and Reporting

    • Accounts

    • Annual Administrative Budget

    • Annual Report

    • Audit

    • Financial Year

    • Limitation, Ineligibility, and Suspension of Voting Rights

    • Capital Transfers

    • Relations with Non-Members

    • Staff Regulations

    • Valuation of the SDR, Valuation of Currencies in Terms of the SDR, Freely Usable Currency, Procedures for Exchange of Currency, and Operational Budget

      • Valuation of the SDR

      • Valuation of Currencies in Terms of the SDR

      • Freely Usable Currency

      • Procedures for Exchange of Currency

      • Operational Budget

  4. Procedures for Operations and Transactions Involving SDRs

    • Transactions with Designation

    • Designation of Participants to Provide Currency

    • Transactions by Agreement Between Participants

    • Prescribed Operations

    • Recording

    • Other Holders

    • {Abrogated effective April 30, 1981}

    • Suspension of Use of SDRs

    • Interest, Charges, and Assessments in Respect of SDRs


I hereby certify that this is a full and true copy of the By-Laws and of the Rules and Regulations of the International Monetary Fund, as amended to September 30, 1999.

Washington, D.C.

September 30, 1999