Index
A
Access policy
Poverty Reduction and Growth Trust 211
Access policy, use of Fund resources
access guidelines and limits in credit tranches and under Extended Fund Facility 449
balance of payments needs 435
capital account crises 452
capital account crises, modifications to Supplemental Reserve Facility 457
capital account crises, prevention 472
exceptional circumstances 453, 464
exceptional circumstances, review 462
Flexible Credit Line 344
modifications to Supplemental Reserve Facility 457
Rapid Financing Instrument 421, 422
review 458
Accounting by members
ownership of gold and currency subscriptions 17
Administered Account
interim account for windfall gold sales profits 233
Administrative Account
balances 885
reserve tranche position 885
African Development Bank
communication concerning members arrears to the Fund 864
exchange of document 753
prescribed holder of SDRs 827
African Development Fund 827
Andean Reserve Fund
prescribed holder of SDRs 827
Annual Report (IMF) 262
Anti-money laundering
effectiveness, review of program (2011) 141
FSAP framework 143
Anti-money laundering and CFT
review of strategy, 2014 144
Arab Monetary Fund
exchange of documents with 753
prescribed holder of SDRs 827
Archives policy
access by outside persons 711
Arrears
lending into arrears to official creditors 436
lending into arrears to private creditors 441, 443
settlement of disputes between members 448
Arrears of a member to creditors other than the Fund
debt strategy 436
extended arrangements, performance criterion 382
first credit tranche 434
Fund lending into nonsovereign arrears 441
Fund lending into sovereign arrears 443
Fund policies and procedures 434
non-toleration of arrears to official creditors 436
performance criteria 441
stand-by arrangement, performance criterion 382
Article I, purposes of the Fund 313, 599, 604
Article I, Section 1(iii), manipulation of exchange rates 40
Article II, Section 2 membership 18
Article III, Section 2, adjustment of quotas 1
Article IV consultations
2012 Decision on Bilateral and Multilateral Surveillance 36
ad hoc consultations 37
Article VIII restrictions 607
Article XIV restrictions 607
bilateral and multilateral consultations 24
Central African Economic and Monetary Union 56
conditionality discussions 321
data provision 628
document exchange with WTO 745
Eastern Caribbean Currency Union 58
euro area 54, 55
European Central Bank, observer status 742
evaluation and review of related programs 321
governance issues 73, 78
macro-financial surveillance 42
multiple currency practices 610
Post-Program Monitoring 479
procedural deadlines for completion 417
use of Fund resources 321
World Bank, collaboration with 738
World Bank, observer status 732
World Trade Organization, observer status 749, 962
Article IV, Section 1, general obligations of members 28
Article IV, Section 1, principles for guidance of members policies 23, 27
Article IV, Section 1(iii) 34
Article IV, Section 2, notification of exchange arrangements 21
Article IV, Section 3, surveillance over exchange arrangements 28
Article IV, Section 3(a), surveillance over exchange rate policies 27
Article IV, Section 3(a), surveillance over exchange rate policies 30, 751
Article IV, Section 3(b), surveillance over exchange rate policies 751
Articles of Agreement
amendment, Resolution 66-2 5
Article V, Section 1, designation of fiscal agency 550
Article V, Section 2(b) 233
Article V, Section 2(b), financial and technical services 146
gold sale profits 233
interim administered account for remaining windfall gold sale profits 237
Article V, Section 3, conditions governing use of Funds general resources
application of Fund policies to purchases of currency borrowed by Fund 493, 547
early repurchase guidelines 493
meaning of with the provisions of this agreement, Article V, Section 3 313
Article V, Section 3(b)(ii)
balance of payments need 232
Article V, Section 3(b)(iii), waiver of limitation of 200 percent of quota
Extended Fund Facility 379
Article V, Section 3(d), operational budgets
assessment of strength of members balance of payments and gross reserve position for operational budgets 483, 488
selection of currencies in purchases 484
Article V, Section 3(f), transfers of SDRs 484
Article V, Section 5, limitation on use of Funds resources 352
Article V, Section 6(b), transfers of SDRs by the Fund 488
Article V, Section 6(c), sales of SDRs by the Fund 492
Article V, Section 7(b), early repurchases
assessment of strength of members balance of payments and gross reserve position 483, 493
Article V, Section 7(c), repurchases 495
Article V, Section 7(i), selection of currencies for repurchases 488, 496
Article V, Section 8, charges 499
Article V, Section 8(a), charges 503, 505
Article V, Section 8(b), charges 495, 503, 505, 885
Article V, Section 8(c), charges 499, 502, 505
Article V, Section 8(d), charges 499
Article V, Section 8(e), charges 499
Article V, Section 9(a), remuneration 885
Article V, Section 11, maintenance of value 515
Article V, Section 12(f), other operations and transactions
gold sales 538, 889
Article V, Section 12(f)(ii), Special Disbursement Account (SDA) resources for assistance to low-income developing members 517
Article V, Section 12(h), investment of members currency held in SDA 517
Article V, Section 12(j), adoption of regulations for administration of Structural Adjustment Facility 517
Article VI, capital transfers
use of Fund resources for 541
WTO, information on Fund decisions requesting a member to exercise controls to prevent a large or sustained outflow of capital 961
Article VI, Section 1, use of Funds resources for capital transfers
freedom to adopt regulations on capital movements 542
Article VI, Section 2 of the Articles of Agreement of the Bank 911
Article VI, Section 3, controls on capital transfers 542
Article VII, Section 1, replenishment and scarce resources
borrowing by the Fund 543
Article VII, Section 3(b), scarce currency 598
Article VIII, general obligations of members
acceptance of obligations 606
bilateralism 599
bilateral payments arrangements 383
consultations, World Bank observer 732
payments restrictions 599, 603
restrictions 606
retention quotas 602
Article VIII, Section 2, avoidance of restrictions on current payments
acceptance of obligations under 604
Article VIII, Section 2(a)
restrictions on current payments and transfers 598
undue delays as payment restrictions 606
Article VIII, Section 2(b), unenforceability of exchange contracts
interpretation 596
Article VIII, Section 3, avoidance of discriminatory currency practices
acceptance of obligations under 602, 604
multiple currency practices 604, 612
Article VIII, Section 4, convertibility of foreign-held balances
acceptance of obligations under 606
Article VIII, Section 5, furnishing of information to the Fund
declaration of censure 624
handling of potential breaches 633
members obligations 620
procedures prior to report by the Managing Director to the Executive Directors 621
review, 2008 632
sanctions 624
strengthening effectiveness of 620, 629
Article IX, Section 5, immunity of archives 711
Article IX, Section 7, privilege for communications, interpretation 716
Article X, relations with other international organizations 927
Article XII, Section 3(b), proposed amendment 12
Article XII, Section 3(b)(i), voting by Executive Directors 16
Article XII, Section 3(c), election of Executive Directors 16
Article XII, Section 3(c), proposed amendment 13
Article XII, Section 3(d), proposed amendment 13
Article XII, Section 3(f), appointed Executive Directors
Alternate Executive Directors, additional 9
Article XII, Section 3(f), proposed amendment 13
Article XII, Section 3(i), proposed amendment 13
Article XII, Section 3(i)(ii), voting by Executive Directors 16
Article XII, Section 3(j) 718
Article XII, Section 3(j), proposed amendment 14
Article XII, Section 4, Managing Director and staff 768
Article XII, Section 6, reserves, distribution of net income, and investment 769
Article XII, Section 6(d)
partial distribution of windfall gold sale profits 233
Article XII, Section 6(f)(ii) 782
Article XII, Section 6(f)(vi) 233
Article XII, Section 6(f)(ix) 233
Article XII, Section 7, publication of reports 786
Article XII, Section 7(a) 813, 931
Article XII, Section 8 801
Article XII, Section 8, proposed amendment 14
Article XIII, Section 2 584
Article XIV, exchange restrictions under transitional arrangements
availment of transitional provisions 604
bilateralism 599
commitment to current account convertibility 606
multiple currency practices 602
retention quotas 601
Article XIV, Section 2, exchange restrictions
maintenance of orderly exchange arrangements 612
multiple currency practices 612
restrictions related to national security 598
transitional arrangements 597, 600
undue delays as payments restrictions 606
Article XIV, Section 3, representation by the Fund
application 612
meaning of exceptional circumstances 614
Article XIV, Section 3 814
Article XVII, Section 3 233
Article XVII, Section 3, other holders of SDRs 824
Article XVIII 831
Article XVIII, Section 1(a), principles and considerations governing SDR allocation and cancellation 832
Article XVIII, Section 4(c)
allocation and cancellation of SDRs 832
Article XIX, Section 2(c), SDR operations and transactions between participants
donations 844
forward operations 843
loans 836
other holders 824
pledges 838
settlement of financial obligation 835
swap operations 842
transfers as secruity for the performance of financial obligations 840
Article XIX, Section 4, limit on SDR Department participants obligation to provide currency 548
Article XIX, Section 5, designation of participants to provide currency 846
Article XIX, Section 5(a)(i), designation plans 483, 849
Article XIX, Section 5(c), designation rules in SDR Department 849
Article XIX, Section 6(b), reconstitution 851
Article XIX, Section 7(a), calculation of exchange rates 549, 835, 836, 838, 840, 842
Article XX, Section 1, interest paid on holding of SDRs 824
Article XX, Section 2, SDR Department interest and charges 852
Article XX, Section 5, application against unpaid charges of SDRs acquired by participants after payment date 853
Article XXI(a)(ii), proposed amendment 14
Article XXIII, Section 1, suspension of operations and transactions in SDRs 826
Article XXIV, Sections 1(a) and 1(b) 831
Article XXIV, Section 4 831
Article XXVI, Section 2(b) 906, 911
Article XXVI, Section 3, withdrawal from membership 551
Article XXIX, interpretation
New Arrangements to Borrow, interpretation outside the purview of Article XXIV 552
unenforceability of exchange contracts 544
Article XXIX(a), interpretation
authority of the Fund to use its resources 313, 901
privilege for communications, Article IX, Section 7 716
unenforceability of exchange contracts under Article VIII, Section 2(b) 596
Article XXIX(a), proposed amendment 15
Article XXX(c), definition of reserve tranche purchase
exclusion of purchases and holdings from EFF 885
Article XXX(c)(iii), exclusion of purchases and holdings in credit tranches or under extended arrangements 885
Article XXX(f), freely usable currencies 886
Asian Development Bank
communications concerning members arrears to the Fund 864
exchange of documents with 753
prescribed holder of SDRs 827
Attribution, rule of
members indebted to Fund 489
reduction in Funds holdings of currency 497
Audit
external audit firm rotation 813
framework Administered Account 149
PRGF-HIPC Trust 260, 269
safeguards for use of Fund resources 314
Supplementary Financing Facility Subsidy Account 889
Authorized Fund signatories 768
B
Balance of payments need
conditionality 314
Fund-supported programs 316
lenders to ESAF Trust, need because of developments in reserves 226, 259
Precautionary and Liquidity Line 399
protracted balance of payments problems 519
Rapid Financing Instrument 420
Bank for International Settlements (BIS)
investment by Fund of currencies held by Borrowed Resources Suspense Accounts 585
investment by Fund of currencies received by SFF Subsidy Account 897
prescribed holder of SDRs 826
Bank-Fund collaboration
debt sustainability assessments 741
IMF-World Bank Concordat 721
World Bank observer status 733
Bank of Central African States
prescribed holder of SDRs 827
Bilateralism and convertibility 599
Bilateral payments arrangements
stand-by arrangement 383
three-month settlement rule, temporary exemption 600
Blackout periods
General Resources Account arrangements 338
Board of Governors Resolutions
Composite Resolution 903
quota and voice reform 1
SDR allocation, First Basic Period 831
SDR allocation, Ninth Basic Period 833
SDR allocation, Third Basic Period 832
Borrowed Resources Suspense Accounts
establishment 584
investment by the Fund of currencies held in 585
Borrowing by the Fund
guidelines 586
proposed modalities for 2012 589
Burden sharing
implementation in FY 2000 505
implementation in FY 2001 508
implementation in FY 2007 510
rate of charge, determination of 508
By-Laws
Section 20, audits 149, 257, 262, 813, 896
Section 22, compulsory withdrawal 865, 868, 869
C
Capital account crises
access policy 452
exceptional access policy, 2004 review 462
exceptional access policy, SRF 457
Capital flows
action to limit disequilibrium flows, Composite Resolution 918
institutional view of liberalization and management 61
role of the Fund 68
WTO, information on Fund decisions requesting a member to exercise capital controls 961
Capital transfers
controls by members 542
multiple currency practices applicable solely to 609
use of Funds resources for 611
Caribbean Development Bank (CDB) 753
Catastrophe Containment and Relief Trust
instrument to establish 295
Qualifying Public Health Disaster, definition 302
transformation of Post-Catastrophe Debt Relief Trust 220
transformation of the Post-Catastrophe Debt Relief Trust 294
Umbrella Account, terms and conditions for administration 309
Censure
draft declaration 868
Central African Economic and Monetary Union
surveillance over monetary and exchange rate policies 56
Charges
accounting for charges from members with overdue obligations 502
administrative account balances 885
extended arrangements 384
future changes in charges 499
media of payment in General Resources Account 501
payment by nonparticipant in the SDR Department 501
payment of net charges and assessment in the SDR Department for FY ended April 30, 1982 852
setoff in connection with a retroactive reduction of charges due by members in arrears 504
special charges on overdue financial obligations to the Fund 502, 504
stand-by arrangements 384
surcharge on purchases in credit tranches and under the EFF 499
value date for payments of special charges 503
waiver of special charges 503
Chinese renminbi
currency weights from October 16, 2016 821
Code of Good Practices on Transparency in Monetary and Financial Policies 359
Collateral 668
collateral guarantees on debt, international reserves template 668
Committee on Reform of the International Monetary System Composite Resolution 903
Communications, privilege for interpretation of Article IX, Section 7 716
Compensatory Financing Facility
indicative targets 318, 319, 320
repeal 347
repurchase expectation 493
repurchases 493
Compulsory withdrawal 868, 869, 870
Concessional financing
eligibility to use Funds facilities 524
Conditionality
benchmarks 318, 319, 320
consistency with WTO agreements with Fund member 747
consultation clauses 318
emergency financing mechanism 474
financing assurance reviews 320
first credit tranche 372
floating tranches 321
guidelines on 314
individual circumstances of members 315
letters of intent 318
modalities 317
monetary policy consultation clause (MPCC) 340
monetary policy regimes 340
national ownership 315
outcomes-based 317
ownership 315, 373
performance criteria 319
performance criteria and phasing, relationship 322
performance criteria with respect to foreign borrowing 329
PRGF-ESF arrangements 374
principles 314
prior actions 319, 350, 354, 374
program design 315
program review 319
public debt limits 327
review, 2012 324
stand-by arrangement, normal access to credit tranches 371
streamlining 373, 375
structural benchmarks 318
structural performance criteria inapplicable 343
waiver, adopting measures prior to granting of 318
waiver, nonobservance of performance criteria 321
Confidentiality
exchange of documents with other international agencies 753
FSAP Confidentiality Protocol 123
side letters 347
Consultation clause
stand-by arrangements 384
Consultations other than under Article IV
acceptance of obligations of Article VIII, Sections 2, 3, and 4 604
Article VIII restrictions 598, 599
Article XIV restrictions 599, 602, 732
bilateral agreements 599
competitive depreciation 608
conditionality, consultation clauses 318
multiple currency practices 602
prescribed holders of SDRs 826
PRGF-ESF, consultation with creditors 230
sale of members currencies 484
trade and payments restrictions, escalation 608
United Nations 928, 930
World Trade Organization 745
Contingent Credit Lines (CCLs)
extended arrangements and 385
Convertibility
acceptance of obligations of Article VIII, Sections 2, 3, and 4 603
bilateralism 599
currency 601, 603
current account of the balance of payments 603, 606
retention quotas 600
Cross-conditionality
avoidance 731
Currencies
attribution of reduction of Funds holdings 497
charges on Funds holdings in excess of quota 499
freely usable 826, 886, 894
General Resources Account 484, 488, 501, 514
guidelines for operational budget allocation of currencies, review 486
maintenance of value 514
repurchases 494
reserve asset payments 19
sale of currencies of members with outstanding purchases 484, 486
subscription to the Fund, ownership 17
use in operational budgets 483
Current international transactions (current account transactions)
bilateralism 599
multiple currency practices 609
payments arrears 435
restrictions involving WTO members 748, 961
restrictions on payments and transfers 599, 603
undue delays in availability or use of foreign exchange 606
D
Data provision to the Fund
for surveillance 628
Data provision to the Fund for surveillance
review, 2008 632
review, 2012 636, 637
Data Standards Initiative
ninth review, 2015 134
Debt limits
policy in Fund-supported programs
review, 2013 334
Debt operations
condition precedent clauses 447
management of the debt situation 448
mandatory prepayment 447
Debt-service ratio 282
Debt strategy
payments of arrears to creditors 434, 436, 606
Debt sustainability assessments 739
Fund-Bank collaboration 739
Debt sustainability framework
low-income countries 217
Declaration of censure 864
Declaration of ineligibility 868, 870
overdue financial obligations to the Fund 863
publicity 880
termination 880
timing 874
Declaration of noncooperation 864
draft declaration 868
publicity upon withdrawal 880
termination 880
timing 874
De-escalation of remedial measures 881
Default, sovereign 441, 475
Designation, SDR Department
acceptance limit 848
assessment of strength of balance of payments and governance position 483
rules for designation, review 846
rules for designation, revision 849
Development Committee (Joint Ministerial Committee on the Transfer of Real Resources to Developing Countries)
changes in the organization of work and structure of the Secretariat function 923
establishment and composition 910
Executive Directors participation in meetings 912
HIPC Initiative 262, 270
Managing Directors participation in meetings 912
procedures 913
rules of procedure 922
WTO observer 749
Discrimination
balance of payments reasons 603
disputes between members, comparable treatment of creditors 436
multiple currency practices 615
nondiscriminatory treatment of members, use of general resources 315
Disputes between members
role of the Fund 448
E
Early repurchases
guidelines 493
members balance of payments and gross reserve position 493
Easing work pressures
omnibus paper 413
East African Development Bank
prescribed holder of SDRs 827
East Caribbean Currency Authority
prescribed holder of SDRs 827
Eastern Caribbean Central Bank
prescribed holder of SDRs 827
Eastern Caribbean Currency Union
surveillance over monetary and exchange rate policies 57
Economic Development Document
Poverty Reduction and Growth Trust 223
Emergency assistance
post-conflict countries 248
PRGF-HIPC Trust qualification 249
repeal and replacement by Rapid Financing Instrument 425
repurchase 494
Emergency financing mechanism (EFM)
conditions for activation 476
early repurchase 478
Enhanced General Data Dissemination Standard (e-GDDS)
endorsed by Executive Board 135
Enhanced General Data Dissemination Standard (eGDDS)
access by the public 701
automated monitoring arrangements 708
dimensions 692
Dissemination Standards Bulletin Board 707
implementation 706
integrity and credibility 702
purposes and framework 692
quality 705
reviews and withdrawal 710
Enhanced Structural Adjustment Facility (ESAF) Trust (transformed intoPoverty Reduction and Growth Facility (PRGF) Trust)
blend of general and SAF/ESAF resources 878
borrowing for Loan Account, consultation with creditors 230
eligible members 525
establishment 230, 534
gold pledge 878
gold, use of 231
legal documentation 232
loans in conjunction with SAF loans 522
loans to Trust as members official reserves 232
operational agreements 230
overdue financial obligations to Fund 859
performance criteria 229
prior actions 356
rescheduling not available 231
rights accumulation program 877
Structural Adjustment Facility, assistance in conjunction with 522
Subsidy account 535
transformation to PRGF Trust 226
use of SDRs 829
Enhanced surveillance
Article VIII obligations 606
Enlarged access
repurchases 451
Euro
currency weights from October 16, 2016 820
freely usable currency 886
rates for computation and maintenance of value 515
Euro area members
surveillance over monetary and exchange rate policies 55, 742
European Bank for Reconstruction and Development (EBRD)
exchange of documents with 753, 755
European Central Bank (ECB)
observer status 742
European Commission (EC)
Article IV consultations 55
exchange of documents with 754, 757
European Investment Bank (EIB)
exchange of documents with 753
Exceptional access policy 452
Exchange arrangements
exchange taxes and subsidies, notification 22
flexible, notification of significant decision 22
intervention 22
multiple currency practices, prior Fund approval 22
notification of 21
Exchange contracts
unenforcability, Funds interpretation of Article VIII, Section 2(b) 596
Exchange controls
nonsovereign arrears stemming from imposition 441
Exchange of documents with other international agencies
ad hoc requests 754
Article IV consultation staff reports 749, 754
changes in procedures 754
criteria for access 752
Recent Economic Developments reports 750
technical assistance reports 751
use of Fund resources staff papers 755
Exchange rate policies
euro area 54
Exchange rates
coherence in global policymaking 746
computations and maintenance of value 514
computations and maintenance of value (value date) 514
fixed 610
floating guidelines 917
fluctuating 22, 611
General Arrangements to Borrow 549
New Arrangements to Borrow 550
unification in multiple rate systems 615
Exchange restrictions
approval by Fund 607
Article VIII, Section 2, 3, and 4 obligations 604
avoidance of escalation 608
balance of payments reasons 605
bilateralism 599
competitive depreciation 608
consultations with Fund 604, 607
discrimination for balance of payments reasons 603
Fund representation in exceptional circumstances under Article XIV, Section 3 613, 814
guiding principle on whether a measure is an exchange restriction 604
non-balance of payments reasons 605
performance criteria, stand-by arrangement 382
retention quotas 600
security reasons 598
transitional arrangements under Article XIV 601, 604
undue delays 542, 606
World Trade Organization, information on Fund approval 961
Exchange subsidies 22
Exchange taxes 22, 610, 615
Executive Board
Alternate Executive Directors, additional 9
Code of Conduct 759
meetings, procedural guidelines 766
notification of exchange arrangements 21
reform of, Resolution 66-2 5
report on Eleventh General Review of Quotas 1, 348
side letters procedures 347
Executive Directors
IMFC meetings participation 905
voting power, effect of adjustment of quota 759
ex post assessments
press releases 803
Ex-post assessments
discontinued 416
Extended arrangements
charges 384
completion of reviews 389
Consultation clauses 384
form, standard 380
ineligiblity 858
misreporting and noncomplying purchases 351, 355
overdue financial obligations to the Fund 856
phasing 381
structural performance criteria not applicable 343
Extended Fund Facility
applicable situations 377
arrangements for periods not exceeding four years 378
charges 379
form of extended arrangement 385
phasing of purchases 379
repurchases 379
review 380
stand-by arrangement policies applicable 379
waiver of conditions of Article V, Section 3(b)(iii) 379
External Audit Committee 813
External audit of Fund financial statements 813
External debt
management of debt situation 447
External debt performance criteria
concessionality, definition 337
stand-by arrangement 382
F
Financial Action Task Force
Fund collaboration with 133
Financial Action Task Force (FATF)
endorsement of methodology 140
Fund collaboration with 141
Financial Sector Assessment Program (FSAP)
Bank-Fund collaboration 123
Confidentiality Protocol 123
coverage of macroprudential frameworks 121
Financial Stability Assessments (FSSAs) 119
offshore financial centers (OFCs) 136
review, 2014 121, 162
stability assessments, mandatory 119
Financial Stability Board
membership of the Fund 755, 757
First credit tranche purchase
elimination of payments arrears 434
liberal Fund attitude 372
reasonable efforts test 372, 434
First credit tranche stand-by arrangements
phasing and performance clauses omitted 372
Fiscal agency
safeguards on use of Fund resources when fiscal agent not central bank 359
Flexible Credit Line
ARA metric 408, 412
Emergency Financing Mechanism procedures not applicable 392
establishment 393
indicators of institutiional strength 408
indicators of institutional strength 412
performance criteria not applicable 390
phasing not applicable 390
qualification criteria 389
review (2011) 401
review, 2014 404, 409
review no later than November 2014 420
Forms
draft declaration on censure or noncooperation 868
draft first letter to all Governors regarding a members overdue financial obligations to the Fund 866
draft second letter to all Governors regarding a members overdue financial obligations to the Fund 867
extended arrangement 385
stand-by arrangement 380
Fourteenth General Review of Quotas 5
Fragile situations, countries in
unique challenges 215
Framework Administered Account for Selected Fund Activities
instrument to establish 151
Framework Administered Account for Technical Assistance Activities
adoption of Instrument to establish 146
Instrument to establish 146
investment of resources 148
Pacific Financial Technical Assistance Centre Subaccount 149
Freely usable currency
renminbi 815
Fund-Bank collaboration
attendance at Fund Board Meetings 732
Furnishing of information to the Fund 351, 620
G
G-20 mutual assessment process
role of the Fund 129
General Agreement on Tariffs and Trade (GATT)
Fund collaboration with 744, 918
import restrictions for balance of payments reasons 605
Voluntary Declaration on Trade and Other Current Account Measures 918
General Arrangements to Borrow (GAB) 543
borrowing by the Fund, guidelines 586
emergency financing mechanism 474
interest 521
letter from Frances Minister of Finance to U.S. Secretary of the Treasury 555
participants and amounts of credit 553
quotas, Eleventh General Review 1
repayment by the Fund 547
sales of currencies of members indebted to Fund 489
transferability of claims 557
use of credit arrangements for nonparticipants 553
General Data Dissemination System (GDDS)
phased approach 691
purposes 690
General Resources Account (GRA)
adjustment of Fund holdings of members currency 515
annual reimbursement of PRGF-ESF Trust expenses 539
designation, assessment of strength of members balance of payments and gross reserve position 483
gold held, sale 538
maintenance of value 515
media payment in 501
misreporting and noncomplying purchases 351
overdue charges 503
rates for computation and maintenance of value 514
repayment expectation under PRGF Trust, failure to meet 226
rights approach 878
rules, applicability to PRGF Trust administration 228
sale of currencies at the request of members with outstanding purchase 486
sale of SDRs by the Fund for payment for increase in quota 492
specification of currencies by the Fund 487
Subsidy Account, reimbursement of administrative expenses 896
transfers of SDRs instead of currencies under Article V, Section 3(f) 484
Gold
gold pledge for use of ESAF Trust resources 878
harmonization of excess holdings of SDRs 847
interim administered account for remaining windfall gold sales profit 237
interim administered account for windfall gold sales profits 233
ownership of gold and currency for subscriptions 17
payment for repurchases 496
use of gold sales profits in Investment Account 785
Governance issues
Article IV consultations 79
corruption 74, 77, 78
HIPC Initiative 267
macroeconomic impact test for Fund involvement 74, 80
policy advice 74, 76
role of the Fund 690, 691
technical assistance 74
technical issues 74, 76
transparency 74, 78
use of Fund resources 80
Gross reserve position
assessment for purposes of designation plans, operational budgets, and early repurchases 486
Guidelines
access by members to Fund’s general resources 448
allocation of currencies, operational budget 486
borrowing by the Fund 586
conditionality 314, 372
corrective action 351, 356
designation plans 483
early repurchases, guidelines 493, 497
Fund staff collaboration with the WTO 744
governance issues 73
misreporting and noncomplying purchases 351
operational budget 483
payment of reserve assets for subscription 17
performance criteria and phasing 322
performance criteria with respect to foreign borrowing, discount rate for assessing concessionality 337
public debt conditionality 329
SDR valuation basket, calculation of currency amounts 821
selection of currencies by the Fund 485, 487
H
Heavily Indebted Poor Countries (HIPC) Initiative
status of implementation, 2005 282
Heavily Poor Countries (HIPC) Initiative
status of implementation (2011) 280
I
Immunities and Privileges of Specialized Agencies, United Nations Convention 934
Immunity of Fund officials
policy statement 718
Import restrictions for balance of payments reasons
GATT 434
stand-by arrangements 383
Income position
assessment under Article XX, Section 4, for FY 2014 854
assessment under Article XX, Section 4, for FY 2015 854
Catastrophe Containment and Relief Trust reimbursement for FY 2015 897
MDRI-I Trust reimbursement for FY 2014 289
PCDR Trust reimbursment for FY 2014 896
placement of FY 2014 net income of GRA to the Special Reserve and the General Reserve 782
PRGT reimbursement for FY2014 209
PRGT reimbursement for FY 2015 210
PRGT Reserve Account Transfer to Subsidy Account 512
PRGT Reserve Account transfer to Subsidy Account, FY 2012 and FY 2013-14 512
rate of charge for FY 2015 and 2016 513
rate of charge for FY 2016 513
transfer of currencies to the Investment Account for FY 2013 782
transfer of investment income for FY 2014 to GRA 781
transfer of investment income for FY 2015 to GRA 781
Ineligibility to use Fund resources
declaration of ineligibility 624, 867, 880
extended arrangements 856
limitation and ineligibility under Article V, Section 5 491
publicity 880
stand-by arrangements 383, 856
Inter-American Development Bank (IDB)
communication regarding members arrears to the Fund 864
exchange of documents with 753
Interest
means of payment under Trust Fund 887
Poverty Reduction and Growth Trust 182
PRGF-HIPC Trust, interest-free loans 255
Interim Committee
governance 357
International Monetary and Financial Committee, transformation of Interim Committee into 905
rules of procedures 921
safeguards for use of Fund resources 357
terms of reference 907
International Court of Justice 930
International Development Association (IDA)
HIPC Initiative 267, 268
prescribed holder of SDRs 827
International Financial Statistics (IFS) 631
International Fund for Agricultural Development (IFAD)
prescribed holders of SDRs 827
International Monetary and Financial Committee (IMFC, formerly Interim Committee)
Fourteenth General Review of Quotas 5
participation of Executive Directors in meetings 906
participation of Managing Director in meetings 906
procedures 907
terms of reference 907
International organizations
transmittal of Fund documents 751
Interpretation
Article IX, Section 7, privilege for communications 716
Articles of Agreement 313
Article VIII, Section 2(b), unenforceability of exchange contracts 596
Article VI, use of Fund resources for capital transfers 313
Article XIV, Section 3, Fund representation in exceptional circumstances on withdrawal of Article XIV, Section 3 restrictions 814
Investigation of Fund activities, cooperation procedures 713
Investment Account
amendment of rules and regulations, 2015 771
Endowment Subaccount 778
establishment 769
Fixed Income SubAccount 774
Fixed-Income Subaccount and Endowment Subaccount) 772
investment strategy for the fixed-income subaccount, review, 2015 769
objective 771
responsibilities of Managing Director 772
sources of assets 771
use of gold sales profits 785
use of investment income 773
Investment authority of the Fund
additional considerations 782
Islamic Development Bank (IsDB)
exchange of documents with 753
prescribed holder of SDRs 827
J
Japanese yen
currency weights from October 16, 2016 820
freely usable currency 886
weight in SDR valuation basket 820
Joint Staff Advisory Notes
streamline modalities, amendments to 279
Joint Staff Assessments 273
L
Lapse of time procedures
program review, completion 419
program reviews, completion 413
transmittal of supplementary information to WTO 745
Lending into arrears 442
review of policy 447
Letters of intent (LOIs)
deletion from documents released to aid agencies 717, 755
side letters 347
Loan Account
borrowing for 184
Low-income countries
access to concessional resources 431
concessional financing framework 430
concessional financing framework, reform of 164
contingency financing 431
debt sustainability framework 217
design of PRGT arrangements 432
fragile situations 215
Fund support in public health disasters 220
poverty reduction strategies of the Fund 222
review of facilities 430
role of the Fund 428
M
Maintenance of value
overdue adjustments 859
rates for computations 514
Managing Director
authorized signatories 768
consultation with creditors for additional borrowing for PRGF Trust Loan Account 230
consultation with member on changes in exchange rate policies 22
consultation with member with outstanding purchases on sale of currency 489
Development Committee, participation in meetings of 909
General Arrangements to Borrow, proposals for calls 553
International Monetary and Financial Committee, participation in meetings of 906
nondiscriminatory treatment of members 316
use of Fund resources, recommendation regarding approval 316
Medium-term budget, FY 16-18
streamlining proposals 418
Misreporting and noncomplying disbursements, PRGF-ESF Trust
prior action, accuracy of information 354
repayment expectation 244, 253
safeguards for use of Fund resources 358
waiver of applicability or for nonobservance of performance criteria 229
Misreporting and noncomplying purchases
publication of cases 811
Misreporting and noncomplying purchases, General Resources Account
corrective action 351
performance criteria or other conditions, accuracy of information 351, 355
prior actions, accuracy of information 356
safeguards for use of Fund resources 357
waivers 352
Misreporting and noncomplying purchases, Policy Support Instrument (PSI)
corrective action 159
Misreporting and noncomplying purchases, PRGF and PRGT facilities
corrective action 203
Misreporting in de minimis cases
Article VIII, Section 5 626
de minimis, definition 353
General Resources Account 354
Policy Support Instrument 161
Special PRGF Operations for HIPC 252
Monetary policy regimes
conditionality 340
Moral hazard 425, 453, 464, 475
Multilateral Debt Relief Initiative
status of implementation (2011) 280
Multilateral Debt Relief Initiative-II (MDRI-II) Trust
liquidation 286
Post-MDRI-II Interim Administered Account 286
transfer of remaining balances 289
Multilateral Debt Relief Initiative-I (MDRI-1) Trust
liquidation 290
Multiple currency practices
approval 22, 615
approval criteria, when imposed for balance of payments reasons 605, 618
approval criteria, when imposed for non-balance of payments reasons 605
Article IV consultations 619
balance of payments reasons 610, 618
capital transactions 619
consultation with Fund prior to changes 609, 610
discrimination 618
exchange taxes 615
jurisdiction of the Fund 612
nonbalance of payments reasons 610, 618
official action 617
policy in 1947 608
policy in 1957 616
policy in 1998 617
simplification of complex rate systems 616
spread 617
statement to members transmitting Funds decisions 608
unification of exchange rates as basic Fund objectives 615
Mutual assessment process
G-20 129
N
New Arrangements to Borrow
establishment 543
new participants 575
rollback of credit arrangements 580
New Arrangements to Borrow (NAB)
activation period 563
adherence 561
Fourteenth General Review of Quotas 8
General Terms and Conditions for NAB Notes 566
Interest 566
meeting of participants 579
rates of exchange 549
Special Calls 565
transferability 570
transferability of claims 583
withdrawal from membership 573
withdrawal of adherence 573
Noncooperation draft declaration 864
Nondiscriminatory treatment of members
Use of Fund resources 315
Nordic Investment Bank
prescribed holder of SDRs 827
Note Purchase Agreement
issuance of notes by Fund to official sector 594
O
Observer status in the Fund
European Central Bank 742
World Bank 732
World Trade Organization 749, 962
Observer status of the Fund
World Bank 732
World Trade Organization 962
Official clearing and payments arrangements
temporary exemption from three-month settlement rule 600
Offshore financial centers (OFCs)
integration of assessment program with FSAP 136
Operational budgets
assessment of strength of members balance of payments and gross reserve position 483
guidelines for operational budget allocation of currencies, review 486
specification of currencies by the Fund 486, 487
transfers of SDRs under Article V, Section 3(f) 484
Organization for Economic Cooperation and Development (OECD)
exchange of documents 755
Overdue financial obligations to the Fund
accounting charges 502
Annual Report (IMF) 862
complaint by Managing Director 862
compulsory withdrawal 864, 865, 868, 869
declaration of censure 864, 868
declaration of ineligibility 863, 868, 870, 872, 880
declaration of noncooperation 865, 869, 871, 880
de-escalation of remedial measures 881
draft first letter to all Governors 866
draft second letter to all Governors 867
Eleventh General Review of Quotas 1
ESAF, no access to 858
extended arrangements and 856
flexibility in de-escalation policy because of Qualifying Catastrophic Disaster 883
Ninth General Review of Quotas 863, 872
nontoleration of arrears to official creditors 436
overdue maintenance of value adjustments 859
Overseas Economic Cooperation Fund (OECF) 337
preferred creditor status of Fund 859, 869, 872
prevention/deterrence measures, strengthened timetable of procedures 873
PSI, nonapproval 156
requests for the use of Fund resources under a stand-by or extended arrangements, management will not submit 856
review period 857
setoff in connection with retroactive reduction of charges 504
stand-by arrangements and 856
strengthened cooperative strategy 869, 879
suspension of voting rights 873
technical assistance suspension 883
P
Paris Club
debt rescheduling and Fund arrangements or programs 872
lending into arrears to official bilateral creditors 437
PRGF qualification for assistance 249
rescheduling discussions 754
rescheduling in the absence of Fund arrangement 872
rescheduling operations, Fund opposition to matching 427
Payments arrears of a member to other (non-Fund) creditors
Fund lending into nonsovereign arrears 443
Fund lending into sovereign arrears 443
Fund policies and procedures 440
performance criteria 434
Performance criteria under Fund arrangements
accuracy of information 354
conditionality guidelines 314
definition 319
first credit tranche, not subject to 372
number and content of 319
omitted in stand-by arrangements within first credit tranche 372
phasing, relationship 322
reporting on implementation, confidentiality relating to 350
side letters 351
structural performance criteria not applicable 343
waiver for nonobservance 321, 352, 353
waiver of applicability 321, 353
Phasing and performance criteria under Fund arrangements
omitted in stand-by arrangements within first credit tranche 372
operational guidelines 322
relationship 322
Policy Support Instrument
program reviews 157
Policy Support Instrument (PSI)
application of Guidelines on Conditionality 162
assessment criteria 159
definition 155
documents required 156
Economic Development Document (EDD) 156
eligibility 155, 156
misreporting 160
policy on arrears 162
policy on side letters 162
provision of Fund technical services 155
review 163
structural assessment criteria not needed for monitoring 163
termination 162
Position in the Fund 487
Post-Catastrophe Debt Relief Trust
establishment 294
flexibility in de-escalation policy with respect to overdue payments to the Fund 883
transformation to Catastrophe Containment and Relief Trust 293
Umbrella Account 312
Post-conflict emergency assistance 266, 269
Post-MDRI-II Interim Administered Account
establishment 286
instrument to establish 286
Post-Program Monitoring
Article IV consultation 481
publication policies 479
streamlining proposals under the FY 2016-18 budget 418
Pound sterling
currency weights from October 16, 2016 820
freely usable currency 886
weight in SDR valuation basket 820
Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust
contributions, value date for operations and transactions 230
decision waivering of the applicability of a performance criterion 355
instrument to establish 168
modalities of gold pledge under rights approach 537
other provisions 226
prior actions, accuracy of information 354
repayment expectation 226
transformation to Poverty Reduction and Growth Trust 164
waiver of performance criteria, accuracy of information 229
Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust loans
performance criteria 229
performance criteria, accuracy of information 229
prior action, accuracy of information 356
repayment expectation 226
waiver of applicability or for nonobservance of performance criterion 354
Poverty Reduction and Growth Trust
access limits 425
accuracy of data to assess observance of performance criteria 229
assistance, amount of 177
assistance, eligibility and conditions 170
Economic Development Document 223
eligibility and conditions for assistance 170
eligibility criteria 527
eligibility, criteria for graduation 528
eligibility framework, review, 2015 524
Extended Credit Facility 164, 168
failure to meet repayment obligation or expectation 226
instrument to establish 168
interest rate structure, review 212
loans, terms of 182
misreporting and noncomplying disbursements 203
Note Purchase Agreement 225
overdue financial obligations 205
Rapid Credit Facility 169
Standby Credit Facility 168
Subsidy Accounts 189
Poverty Reduction and Growth TrustFacility (PRGTF) and Exogenous Shocks Facility (ESF) Trust
instrument to establishment, adoption of Instrument 233
Poverty Reduction Strategy Papers (PRSPs)
core principles 275
definition 245
progress 272
role in HIPC initiative 248
Poverty Reduction Strategy (PRS)
conflict-affected states, special requirements 278
goals 276
Millennium Development Goals (MDGs), achievement of 276
review 275
Poverty Strategy Reduction Paper (PSRP)
followed by Joint Staff Advisory Paper 279
Precautionary and Liqudity Line
conditionality 395
Precautionary and Liquidity Line
access limits 395
ARA metric 408, 412
balance of payments need 396
duration 394
eligibility 393
establishment to replace Precautionary Credit Line 401
indicators of institutional strength 408, 412
relationship between performance criteria and phasing not applicable 322
review, 2014 404, 409
review no later than November 2012 400
safeguards assessment 421
Precautionary and Liquidity Line Arrangements
terms and conditions 393
Precautionary Credit Line
repealed 400
review (2011) 401
Preferred creditor status of Fund 265, 425, 869, 872
overdue financial obligations to the Fund 859
Press releases
Article IV consultations 793
Executive Board consideration of FSAP reports 793
regional surveillance discussions 793
use of Fund resources or Policy Support Instrument 792
Prior actions
accuracy of information regarding implementation 355
definition 318
implementation under PRGF 354
reporting on implementation, confidentiality relating to 350
side letters 350
use in emergency financing mechanism 476
use in Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility 356
use in Policy Support Instrument 160
Program reviews 319
ex-post evaluations, multi-country 416
lapse of time completion 413
procedural deadlines for completion 417
Protracted balance of payments problem 519
Publication
authorization and consent 786
country documents 787
Fund policy documents 796
multi-country documents 797
transparency policy 786, 802
web posting of Poverty Reduction Strategy documentation 805
Public debt limits
conditionality 327
Public health disasters
Fund support for low-income countries 220
Publicity
suspension of voting rights 810
termination of suspension of voting rights 810
Purchase transactions
resumption of purchases under stand-by arrangement after decision of formal ineligibility 383
suspension of transactions under stand-by arrangement 383
temporary suspension under Article XXVII, effect on GAB 551
Q
Quotas
ad hoc increases 20
Eleventh General Review 1
Fourteenth General Review 5
Ninth General Review 872
payments of reserve assets in connection with subscription 17
sales of SDRs by Fund to members for quota payments 492
Seventh General Review 18, 492, 833, 849
Sixth General Review 18
voice and quota, reform of 1
voting power and adjustment of quotas 759
R
Rapid Credit Facility
assistance under RCF 175
lending into arrears to official bilateral creditors 440
low-income countries in fragile situations 215
Rapid Financing Facility
balance of payments need 420
Rapid Financing Instrument
access limits 421, 425
establishment to replace emergency assistance policy 402
lending into arrears to official bilateral creditors 440
outright purchases 421
review, 2014 404
terms and conditions 420
Recent Economic Developments reports (REDs)
balance of payments consultations, WTO 745
transmittal to multilateral agencies 745
Reconstitution of SDRs
abrogation of rules 851
Reform of the Executive Board, Resolution 66-2 5
Renminbi
freely usable currency 818
Repayment expectations, PRGF Trust 226, 244, 253
Reports on Observance of Standards and Codes (ROSCs)
anti-money laundering initiatives 142
assessment principles 139
no longer circulationed to Executive Directors in hard copy form discontinued 131
surveillance 632
Repurchase expectations
attribution of reduction of currency 497
Compensatory Financing Facility 493
failure to meet and extended arrangements 353, 356
failure to meet and stand-by arrangements 356
misreporting and noncomplying purchases 351, 356
Repurchases
assessment of strength of members balance of payments and gross reserve position 483
attribution of reductions in Funds holdings of currencies 497
credit tranches 495
early repurchases, guidelines 497
emergency assistance 495
gold, acceptance in payment 496
gold, obligation to pay 496
procedures 495
Schedule B 496, 497
SDRs 496
selection of currencies by Fund 484, 487
special charges on overdue repurchases 495
timing of repurchases within a calendar month 495
Reserve position, gross
assessment for purposes of designation plans, operational budgets, and early repurchases 483
Reserve tranche position
administrative accounts 885
attribution of reductions in Funds holdings of currencies 497
balances held in Administrative Account 885
extended arrangements 885
remunerated position 19
Reserve tranche purchases, exclusion of purchases and holdings
credit tranches 885
extended arrangements 885
General Arrangements to Borrow 548
Retention quotas 600
Reviews under Fund arrangements
stand-by arrangement 380
Revolving character of the Funds resources 451
Rights accumulation programs 363, 875, 878, 881
gold pledge 878
Rights approach
arrears to the Fund, reduction 875
extension of eligibility 883
gold pledge 875
modalities of gold pledge for use of PRGF Trust resources 537, 875
operational modalities 875
PRGF-HIPC Trust eligibility 247
PRGF-HIPC Trust qualification 249
three-year period norm 876
Rules and Regulations
Rule G-1, fiscal agency 550
Rule G-4, request for a purchase 491
Rule I-6(4)(a) 508, 511
Rule I-6(4)(b) 508, 511
Rule I-6(4), rate of charge 503, 504, 508, 894
Rule I-6, rate of charge(4) 511
Rule I-10, rate of remuneration 508, 511
Rule K-1 720
Rule O-2, valuation of currencies in terms of SDRs 515, 550, 835, 836, 838, 840, 842
Rule O-10, operational budget 484
Rule P-7, prescribed operation 835, 837, 838, 840, 843, 844
Rule P-9, recording of SDR transactions 828, 829, 836, 837, 839, 841, 843, 844, 845
Rule R-1 through Rule R-6, rules for reconstitution (abrogated) 851
S
Safeguards assessment policy
review of experience, 2010 366
review of experience, 2015 368
Safeguards assessment process
audits 358, 359, 360
confidentiality 360, 366
distinction between first and second stages no longer applicable 365
first stage 359, 365
Precautionary and Liquidity Line 399
Rapid Financing Instrument 421
reports to remain confidential 362
review 361
second stage 360, 365
Safeguards, use of Fund resources
benchmarks based on Code of Good Practices on Transparency in Monetary and Financial Policies 359
publication of audited central bank financial statements 359
Sales of currencies of members indebted to the Fund
sale of currencies at the request of members with outstanding purchases 489
Santiago Principles 70
Schedule B, transitional provisions 18, 496
Schedule D
paragraph 1(a), proposed amendment 15
paragraph 5(e), proposed deletion 15
paragraph 5(f), proposed amendment 15
Schedule E
proposed amendment 16
Schedule F, designation 847
Schedule G, paragraph 1(a), reconstitution 851
Schedule J, settlement of accounts with withdrawing members 551
Schedule K, administration of liquidation 551
Schedule L
paragraph 1(b), proposed amendment 16
paragraph 3(c), proposed amendment 16
suspension of voting rights 906
Second Amendment
Article IV (surveillance over exchange rate policies) 18
payment of reserve assets in connection with subscription 18
repurchase under Schedule B 496
surveillance over exchange rate policies 18
Security reasons, exchange restrictions for 598
Short-Term Liqudity Facility
repeal 347
Side letters, use of Fund resources 347
Small states
Fund’s engagement with 52
Sovereign default 441, 475
Sovereign wealth funds
generally accepted principles and practices (GAPPs) 70
Santiago Principles 70
Special Contingent Account
additions to 858
Special Data Dissemination Standard Plus (SDDS Plus)
dimensions 677
Dissemination Standards Bulletin Board 682
establishment 677
implementation 682
purpose and framework 677
Special Data Dissemination Standard (SDDS)
coverage 640
flexibility 644
purpose and framework 639
subscription 647
Special Data Dissemination Standards (SDDS)
access by the public 677
balance-sheet approach 630
liquidity management 630
Special Data Disseminaton Standard (SDDS)
Dissemination Standards Bulletin Board 647
Special Disbursement Account (SDA)
investment 517
PRGF-HIPC Trust 244, 258
repayment expectation under PRGF Trust, failure to meet 226
Structural Adjustment Facility administration 517
termination and transfer of resources from Trust Fund 888
termination of assistance from SAF in conjunction with loans from ESAF Trust 537
transfer of resources to the ESAF Trust and retransfer to the SDA 535
Special drawing rights (SDRs)
allocation for first basic period 831
allocation for the ninth basic period 833
allocation for third basic period 832
contributions to PRGF-HIPC Trust 247
currency weights 819
currency weights from October 16, 2016 820
designation rules, revision 849
euro, weight in valuation basket 820
harmonization of excess holdings 847
holders prescribed by the Fund 826, 827
African Development Bank 827
African Development Fund 827
Andean Reserve Fund 827
Arab Monetary Fund 827
Asian Development Bank 827
Bank for International Settlements 826
Bank of Central African States 827
Central Bank of West African States 827
East African Development Bank 827
East Caribbean Currency Authority 827
Eastern Caribbean Central Bank 827
European Central Bank 827
International Bank for Reconstruction and Development (World Bank) 827
International Development Association 827
International Fund for Agricultural Development 827
Islamic Development Bank 827
Nordic Investment Bank 827
means of repayment by members on indebtedness under loan agreements 888
payment of net charges and assessment in the SDR Department for FY ended April 30, 1982 852
PRGF-HIPC Trust unit of account and media of payment 298
reconstitution, abrogation of rules 851
reserve asset payments 17
rules for designation, review 846
sales by the Fund for payment of subscriptions 17
sales by the Fund for the payment of charges 502
terms and conditions for accepting, holding, or using SDRs 824
transfers of SDRs for purchases under Article V, Section 3(f) 484
U.S. dollar, weight in valuation basket 820
use in donations 844
use in ESAF Trust operations or under an administered acount 829
use in forward operations 843
use in loans 836
use in payment of Trust Fund obligations 828, 887
use in pledges 838
use in PRGF-HIPC Trust operations or under an administered account 829
use in repurchases 495
use in settlement of financial obligations 835
use in Structural Adjustment Facility operations 828
use in subsidy payment from SFF Subsidy Account 828
use in swap operations 842
use in transfers as security for the performance of financial obligations 840
valuation method from October 16, 2016 818
Specification of currencies 487
Staff reports on Article IV consultations
document exchange with WTO 752
transmittal to international agencies 751, 753
Staff reports on enhanced surveillance
transmittal by members to creditors 126
Staff reports on use of Fund resources and post-program monitoring
publication policy 806
Standards and Codes Initiative
crisis resolution and deposit insurance, new policy areas 132
review (2011) 131
Stand-by arrangements
access to credit tranches, normally through 370
arrangements not international agreements 318
conditionality guidelines 314
consultation clauses 318, 383
contractual connotation avoidance 318
duration, normal 372
emergency purchases and 422
first credit tranche 372
form, standard 380
ineligibility 383
ineligiblity 858
misreporting and noncomplying purchases 351, 354, 355
noncomplying purchases 353
nondiscriminatory treatment of members 316
overdue financial obligations to the Fund 856
performance criteria, accuracy of information 354
performance criteria with respect to external debt 337, 382
period for 372
phasing 372
policies and procedures 372
PRGF-HIPC Trust eligibility 248
PRGF-HIPC Trust qualification 248
prior actions, accuracy of information 354
program evaluation 321
repurchase 384
repurchase expectation 352, 353, 384
reserve tranche purchases 885
review 381
structural performance criteria not applicable 343
suspension of right to engage in transactions 383
uniform treatment of members 316
waiver for nonobservance of performance criteria 352, 354, 355
waiver of applicability of performance criteria 354, 355
Stand-By Arrangements
completion of reviews 389
Strengthened cooperative strategy
de-escalation of remedial measures 881
procedures 870
reversibility of actions 880
Structural Adjustment Facility (SAF)
access, potential 519, 525
amounts of assistance 518
commitment period 519
commitment period, new 523
disbursements 520, 523
eligible members list 525
income from investment and loans 534
loans under Enhanced Structural Adjustment Facility (ESAF) 522
protracted balance of payments problem 519
purposes 518
qualification for assistance 519
resources 518
SDRs, use in operations 828, 829
terms of loans 520
Subscriptions
accounting by members 17
ownership of gold and currency 17
reserve asset payments 17
Summings up and concluding remarks for policy items
review and finalization process 766
Supplemental Reserve Facility (SRF)
exchange rate for payment of subsidies 917
overdue financial obligations 383
repeal 347
Supplementary Financing Facility (SFF) Subsidy Account 867
eligible members 893
exchange rate for payment of subsidies 898
instrument to establish 890
investment 892
means of subsidy payments 898
rescheduling in cases of serious hardship 889
resources 890
SDRs, use of 828
subsidy amount 892
suspension of transfers and re-transfer of surplus 898
transfer from Special Disbursement Account 891
Surveillance
2012 Decision on Bilateral and Multilateral Surveillance 25
Article IV consultations 36
bilateral surveillance, 2012 Decision 28
Central African Economic and Monetary Union 56
currency unions 29
data provision 628
Eastern Caribbean Currency Union 58
euro area 54, 55
legal framework 23
macro-financial 42
modalities 32
modernizing the legal framework, 2012 22
multilateral consultations 39
multilateral surveillance, 2012 decision 30
principles for guidance to the Fund 27
principles for the guidance of member’s policies 33
procedures 36
review of 2012 Decision 39
ROSCs 629, 632
scope 28
Special Data Dissemination Standards 631
stability assessments under FSAP mandatory 119
systemically important financial sectors 119
systemic stability 28
triennial review, 2014 41
West African Economic and Monetary Union 60
Suspension of membership 862
Suspension of voting rights
participation in International Monetary and Financial Committee 906
Swiss National Bank
GAB participant 554
Systemically Important Financial Sectors
conceptual framework 113
T
Technical assistance
cooperation with Trusteeship Council 929
exchange rate system simplification 616
members not cooperating with the Fund 864
transmittal of reports to international agencies 751
Trade
role of trade in Fund work 69
Trade Integration Mechanism 432
trade-related balance of payments adjustments 432
Trade Integration Mechanism 432
Trade restrictions
avoidance of escalation 608, 918
import restrictions for balance of payments reasons, GATT 605
import restrictions for balance of payments reasons, stand-by arrangements 383
WTO involvement 745
Tranche policies
first credit tranche 372
floating tranche 321
Transparency
archives, access by outside persons 711
foreign reserves management 359
governance 74
presumed publication of country staff reports 806
review of policy, 2013 786
safeguards for use of Fund resources 360
use of Fund resources 811
Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries and for Interim ECF Subsidy Operations (PRG-HIPC Trust)
amendment of PRGF-HIPC Trust to PRG-HIPC Trust 242
instrument to establish 242
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim ECFPRGF Subsidy Operations (PRGF-HIPC Trust)
instrument to establish, adoption of 241
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)
administration of 256
amendment of 258
Annual Progress Report (APR) 245
assistance amount 250
completion point 244, 251, 252, 253, 254, 264, 266, 267, 268
contributions by other donors 259
debt sustainability 243, 244, 248, 250, 251, 253, 265
debt sustainability analysis 243
debt-to-exports ratio 244, 253, 268
debt-to-revenue ratio 244
decision point 243, 244, 248, 249, 250, 251, 252, 270, 282
eligibility 247, 274
grace period on loans 255
grants and loans 247
Guidelines on Misreporting 245
implementation, progress 266
implementation, review 270
interest 244, 255
interim assistance 260
Interim Poverty Reduction Strategy Papers (I-PRSPs) 272
investment of resources 246, 257, 259
Joint Staff Advisory Note (JSAN) 245
liquidation 257
maturity of loans 254
operation and liquidation 257
Paris Club 244, 248, 251, 266, 272, 283
performance-related conditions 252, 260
Poverty and Social Impact Analysis (PSIA) 278
Poverty Reduction Strategy Papers (PRSPs) 245, 248, 267, 270, 277
qualification for assistance 248
rescheduling of payments not allowed 254
retransfers authorized 260
SDRs, use in operations 260, 829
self-sustained operations 244, 258, 270
special charges on overdue interest and repayments 503
Special Disbursement Account, transfers from 246
streamlining preliminary HIPC documents 274
subsidies for interim PRGF operations 255
terms of assistance 254
track record of performance 265, 267, 271, 274, 284
Trust Account and resources 246
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGFPRG.-HIPC Trust)
Interim Poverty Reduction Strategy Papers (I-PRSPs) 245
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and the Interim PRGF Subsidy Operations (PRGF-HIPC Trust)
status of implementation (2011) 280
Trust for Special PRGF Operations Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)
completion point 282
decision point 282
eligibility and eligible members 284
implementation status 282
sunset clause 258, 284
Trust Fund
final direct distribution of profits 888
means of repayment by members on their indebtedness under loan agreement 888
SDRs, use in payment of Trust Fund obligations 828
special charges on overdue financial obligations 502, 888
termination and transfer of resources to Special Disbursement Account 888
terms of repayment of final loan disbursement and amendment of Trust instrument 890
U
Undue delay in availability or use of foreign exchange 542, 606
Uniformity of treatment principle
post-conflict assistance 426
use of Funds general resources 316
United Nations
exchange of documents with 928
UNDP, exchange of documents with 753
Uniting for Peace General Assembly Resolution 902
United States (U.S.) dollars
currency weights from October 16, 2016 820
financial statements of Framework Account, expressed in 148
maintenance of value, rates for computation 515
means of payment by members on indebtedness under Trust Fund loan agreements 888
medium of payment, loan disbursements, repayments, and interest under GAB 521
medium of payment, PRGF-HIPC Trust 246
payment of special charges on overdue payments, Trust Fund loans 504
payments of interest on members indebtedness under Trust Fund loans 887
weight in SDR valuation basket 820
Use of Fund resources
accordance with purposes of the Fund 313
arrears, resolving the problem of 866
authority of the Fund to use its resources 313
Resolution 313
resolving problem of arrears 313
capital transfers 313, 541
concessional financing, eligibility 532
conditionality guidelines 314
financing current account deficits 313
Flexible Credit Line 344, 389
form, extended arrangement 385
form, stand-by arrangement 380
ineligibility, effect on purchases under stand-by arrangement 383
ineligibility under Article V, Section 5 491
interpretation of Articles of Agreement 313
limitation and ineligibility under Article V, Section 5 491
meaning of 314
meaning of with the provisions of this Agreement Article V, Section 3 313
nondiscriminatory treatment of members 316
performance criteria and phasing 322
postponement and limitation under Article V, Section 5 491
repayment expectation under PRGF-ESF Trust, failure to meet 226
repeal of CFF, SRF, and Short-term Liquidity Facility 346
resumption of purchases under stand-by arrangement after decision of formal ineligibility 383
safeguards, strengthening of 357
side letters 347, 350
suspension of exchange transactions, effect on General Arrangements to Borrow 551
suspension of transactions under stand-by arrangements 383
Use of Fund Resources
failure to meet repayment obligation or expectation to PRGT 226
summings up no longer prepared 812
transparency 811
V
Voluntary Declaration on Trade and Other Current Account Measures 918
Voting power majority
compulsory withdrawal 871
W
Waiver of performance criteria
applicability 321, 354, 355
nonobservance 354, 355
nonobservance under PSI 159
Waiver of special charges 503
World Bank (International Bank for Reconstruction and Development)
agreement with WTO 956, 957, 959
Bank-Fund collaboration 721, 732, 733
Bank-Fund Concordat 734
collaboration with Fund and WTO 748, 749
Development Committee 909
Fund-Bank Concordat 721
governance 74, 77
HIPC Initiative 263, 270, 273
investment by Fund of currencies received by SFF Subsidy 897
observer status in the Fund 732, 733
prescribed holder of SDRs 827
PRGF-HIPC Trust 243
rights approach 876
suspension of voting rights 873
World Economic Outlook (WEO)
multilateral surveillance 315
WTO observer status 962
World Trade Organization (WTO)
balance of payments consultations 745
coherence in global policymaking 746
consistency of policy advice and obligations 746
cross-conditionality, avoidance 747
document exchange 750
Fund staff observer at WTO meetings 962
guidelines/framework for Fund staff collaboration 744
IMF-WTO Agreement, text 960
lapse of time procedure in transmittal of supplementary information to WTO 745
observer status 749
resolution of open jurisdictional issues 748
suspension of transactions under stand-by arrangements 383
WTO staff observer at Executive Board meetings 961