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Abstract

Access policy, use of Fund resources

Index

A

  • Access policy, use of Fund resources

    • access guidelines and limits in credit tranches and under Extended Fund Facility, 470

    • balance of payments needs, 462

    • capital account crises, 476

    • capital account crises, modifications to Supplemental Reserve Facility, 482

    • capital account crises, prevention, 490

    • exceptional circumstances, 477, 487

    • exceptional circumstances, review, 486–90

    • Flexible Credit Line, 366

    • modifications to Supplemental Reserve Facility, 482–86

    • post-conflict countries, 448

    • Rapid Credit Facility, 209

    • Rapid Financing Instrument, 435

    • review, 482–86

    • revolving character of Fund resources, 445, 473

  • Accounting by members

    • ownership of gold and currency subscriptions, 19

  • Administrative Account

    • balances, 923

    • reserve tranche position, 923

  • African Development Bank

    • communication concerning members’ arrears to the Fund, 902

    • exchange of document, 796

    • prescribed holder of SDRs, 866

  • African Development Fund, 866

  • Andean Reserve Fund

    • prescribed holder of SDRs, 866

  • Annual Report (IMF), 290, 335

  • Anti-money laundering

    • assessing a global standard and preparing ROSCs, proposals, 167–72

    • effectiveness, review of program (2011), 176

    • FSAP framework, 178

    • Fund involvement, 162

    • methodology document, 167

    • offshore financial center assessments, 160, 166

    • twelve-month pilot, program review, 172–78

  • Arab Monetary Fund

    • exchange of documents with, 796

    • prescribed holder of SDRs, 866

  • Archives policy

    • access by outside persons, 746

  • Arrears

    • lending into arrears, 463, 464–68

    • settlement of disputes between members, 121, 469–70

  • Arrears of a member to creditors other than the Fund

    • debt strategy, 462

    • extended arrangements, performance criterion, 412

    • first credit tranche, 461

    • Fund lending into nonsovereign arrears, 463

    • Fund lending into sovereign arrears, 463

    • Fund policies and procedures, 461

    • nontoleration of arrears to official creditors, 463

    • performance criteria, 463

    • stand-by arrangement, performance criterion, 412

  • Article I, purposes of the Fund, 351, 616, 621

  • Article I, Section 1(iii) manipulation of exchange rates, 42

  • Article II, Section 2 membership, 20

  • Article III, Section 2, adjustment of quotas, 3

  • Article IV consultations, 103, 104

    • 2012 Decision on Bilateral and Multilateral Surveillance, 38

    • ad hoc consultations, 39

    • annual, principle of, 106

    • Article VIII restrictions, 624

    • Article XIV restrictions, 624

    • bilateral and multilateral consultations, 26

    • Central African Economic and Monetary Union, 67

    • collaborative efforts, 774

    • conditionality discussions, 359

    • consultation cycles, 111

    • data provision, 645

    • document exchange with WTO, 788

    • early warning system models, 63

    • Eastern Caribbean Currency Union, 69

    • enhanced surveillance, 122–25

    • euro area, 64–65, 66

    • European Central Bank, observer status, 785–87

    • evaluation and review of related programs, 359–63

    • excessive delay in completion, 113

    • Financial Sector Assessment Program (FSAP), 125–31

    • governance issues, 91, 97, 99

    • integration of stability assessments, 139

    • lapse of time procedures, 108

    • military expenditures, 102

    • multiple currency practices, 628

    • Post-Program Monitoring, 498

    • procedural deadlines for completion, 433

    • prolonged users of Fund resources, 498

    • Public Information Notices, release, 853–55

    • Recent Economic Development reports, 106, 793, 797

    • stability assessments under FSAP, integration of, 138

    • staff reports, release to international and multilateral agencies, 794–96

    • surveillance priorities, 2008–2011, 56

    • three-month period, 104

    • use of Fund resources, 359

    • World Bank, collaboration with, 777

    • World Bank, observer status, 771

    • World Trade Organization, observer status, 793, 1000

  • Article IV, Section 1, general obligations of members, 30

  • Article IV, Section 1, principles for guidance of members’ policies, 25, 29

  • Article IV, Section 1(i), surveillance, 139

  • Article IV, Section 1(ii), surveillance, 139

  • Article IV, Section 1(iii), 36, 43, 45

  • Article IV, Section 2, notification of exchange arrangements, 23

  • Article IV, Section 3, surveillance over exchange arrangements, 30

  • Article IV, Section 3(a), surveillance over exchange rate policies, 29

  • Article IV, Section 3(b), surveillance over exchange rate policies

    • consultation cycles, 111

    • excessive delays in completion of Article IV consultations, 113

  • Article V, Section 1, designation of fiscal agency, 572

  • Article V, Section 2(b), 242

  • Article V, Section 2(b), financial and technical services, 179, 315, 330, 331, 338

    • gold sale profits, 242, 246

  • Article V, Section 3, conditions governing use of Fund’s general resources

    • application of Fund policies to purchases of currency borrowed by Fund, 516, 569

    • early repurchase guidelines, 516

    • meaning of “consistent with the provisions of this agreement,” under Article V, Section 3, 351

  • Article V, Section 3(b)(ii)

    • balance of payments need, 268

    • meaning of “represents” that a member has a need to make purchases, 352

  • Article V, Section 3(b)(iii), waiver of limitation of 200 percent of quota

    • Extended Fund Facility, 407

  • Article V, Section 3(d), operational budgets

    • assessment of strength of members’ balance of payments and gross reserve position for operational budgets, 506, 511

    • selection of currencies in purchases, 508

  • Article V, Section 3(f), transfers of SDRs, 507

  • Article V, Section 5, limitation on use of Fund’s resources, 373

  • Article V, Section 6(b), transfers of SDRs by the Fund, 511

  • Article V, Section 6(c), sales of SDRs by the Fund, 515

  • Article V, Section 7(b), early repurchases

    • assessment of strength of member’s balance of payments and gross reserve position, 506

    • assessment of strength of members’ balance of payments and gross reserve position, 516

  • Article V, Section 7(c), repurchases, 518

  • Article V, Section 7(i), selection of currencies for repurchases, 511, 519

  • Article V, Section 8, charges, 522

  • Article V, Section 8(a), charges, 526, 528

  • Article V, Section 8(b), charges, 518, 526, 528, 923

  • Article V, Section 8(c), charges, 522, 525, 528

  • Article V, Section 8(d), charges, 522

  • Article V, Section 8(e), charges, 522

  • Article V, Section 9(a), remuneration, 923

  • Article V, Section 11, maintenance of value, 538

  • Article V, Section 12(f), other operations and transactions

    • gold sales, 560, 927

  • Article V, Section 12(f)(ii) Special Disbursement Account (SDA) resources for assistance to low-income developing members, 540

  • Article V, Section 12(h), investment of member’s currency held in SDA, 540

  • Article V, Section 12(j), adoption of regulations for administration of Structural Adjustment Facility, 540

  • Article VI, capital transfers

    • use of Fund resources for, 563

    • WTO, information on Fund decisions requesting a member to exercise controls to prevent a large or sustained outflow of capital, 995

  • Article VI, Section 1, use of Fund’s resources for capital transfers

    • freedom to adopt regulations on capital movements, 564

  • Article VI, Section 2 of the Articles of Agreement of the Bank, 949

  • Article VI, Section 3, controls on capital transfers, 564

  • Article VII, Section 1, replenishment and scarce resources

    • borrowing by the Fund, 565

  • Article VII, Section 3(b), scarce currency, 615

  • Article VIII, general obligations of members

    • acceptance of obligations, 623

    • bilateral payments arrangements, 413

    • bilateralism, 616

    • consultations, World Bank observer, 771

    • payments restrictions, 120, 616, 620–22

    • restrictions, 623

    • retention quotas, 619

    • settlement of disputes between members, 120

  • Article VIII, Section 2, avoidance of restrictions on current payments

    • acceptance of obligations under, 621

  • Article VIII, Section 2(a)

    • restrictions on current payments and transfers, 615

    • undue delays as payment restrictions, 623

  • Article VIII, Section 2(b), unenforceability of exchange contracts

    • interpretation, 613–14

  • Article VIII, Section 3, avoidance of discriminatory currency practices

    • acceptance of obligations under, 619, 621

    • multiple currency practices, 621, 629, 630

  • Article VIII, Section 4, convertibility of foreign-held balances

    • acceptance of obligations under, 623

  • Article VIII, Section 5, furnishing of information to the Fund

    • declaration of censure, 641

    • handling of potential breaches, 650

    • members’ obligations, 637

    • procedures prior to report by the Managing Director to the Executive Directors, 638

    • review, 2008, 649

    • sanctions, 642

    • strengthening effectiveness of, 637, 646

  • Article IX, Section 5, immunity of archives, 746

  • Article IX, Section 7, privilege for communications, interpretation, 751

  • Article X, relations with other international organizations, 965

  • Article XII, Section 3(b)(i), Executive Directors, appointed, interpretation, 799

  • Article XII, Section 3(b)(i), voting by Executive Directors, 18

  • Article XII, Section 3(b), proposed amendment, 14

  • Article XII, Section 3(c), additional appointed Executive Directors

    • interpretation, 799

    • use of the preceding two years, 800

  • Article XII, Section 3(c), election of Executive Directors, 18

  • Article XII, Section 3(c), proposed amendment, 14

  • Article XII, Section 3(d), proposed amendment, 15

  • Article XII, Section 3(f), appointed Executive Directors

    • Alternate Executive Directors, additional, 11

    • interpretation, 799

  • Article XII, Section 3(f), proposed amendment, 15

  • Article XII, Section 3(i), 15

  • Article XII, Section 3(i)(ii), voting by Executive Directors, 18

  • Article XII, Section 3(j), 753

  • Article XII, Section 3(j), proposed amendment, 16

  • Article XII, Section 4, Managing Director and staff, 810

  • Article XII, Section 6, reserves, distribution of net income, and investment, 811

  • Article XII, Section 6(d)

    • partial distribution of windfall gold sale profits, 243

  • Article XII, Section 6(f)(ii), 821

  • Article XII, Section 6(f)(vi), 243

  • Article XII, Section 6(f)(ix), 243

  • Article XII, Section 7, publication of reports, 826

  • Article XII, Section 7(a), 855, 969

  • Article XII, Section 8, 842

  • Article XII, Section 8, proposed amendment, 16

  • Article XIII, Section 2, 605

  • Article XIV, exchange restrictions under transitional arrangements

    • availment of transitional provisions, 621

    • bilateralism, 616

    • commitment to current account convertibility, 623

    • consultations, World Bank, 771

    • multiple currency practices, 619

    • retention quotas, 618

    • settlement of disputes between members, 120

  • Article XIV, Section 2, exchange restrictions

    • maintenance of orderly exchange arrangements, 629

    • multiple currency practices, 629–32

    • restrictions related to national security, 615

    • transitional arrangements, 613, 617

    • undue delays as payments restrictions, 623

  • Article XIV, Section 3, representation by the Fund

    • application, 631

    • meaning of “exceptional circumstances” in Article XIV, Section 3, 857

  • Article XVI, Section 2, 893

  • Article XVII, Section 3, 242

  • Article XVII, Section 3, other holders of SDRs, 337, 863

  • Article XVIII, 870

  • Article XVIII, Section 1(a), principles and considerations governing SDR allocation and cancellation, 871

  • Article XVIII, Section 4(c)

    • allocation and cancellation of SDRs, 872

  • Article XIX, Section 2(c), SDR operations and transactions between participants

    • donations, 883

    • forward operations, 882

    • loans, 875

    • other holders, 863

    • pledges, 877–78

    • settlement of financial obligation, 874

    • swap operations, 881

    • transfers as security for the performance of financial obligations, 879

  • Article XIX, Section 4, limit on SDR Department participant’s obligation to provide currency, 570

  • Article XIX, Section 5, designation of participants to provide currency, 885

  • Article XIX, Section 5(a)(i), designation plans, 506, 888

  • Article XIX, Section 5(c), designation rules in SDR Department, 888

  • Article XIX, Section 6(b), reconstitution, 890

  • Article XIX, Section 7(a), calculation of exchange rates, 572, 874, 875, 877, 879, 881

  • Article XX, Section 1, interest paid on holding of SDRs, 863

  • Article XX, Section 2, SDR Department interest and charges, 891

  • Article XX, Section 4, 893

  • Article XX, Section 5, application against unpaid charges of SDRs acquired by participants after payment date, 892

  • Article XXI(a)(ii), proposed amendment, 16

  • Article XXIII, Section 1, suspension of operations and transactions in SDRs, 865

  • Article XXIV, Section 4, 870

  • Article XXIV, Sections 1(a) and 1(b), 870

  • Article XXVI, Section 2(b), 944, 949

  • Article XXVI, Section 3, withdrawal from membership, 573

  • Article XXIX, interpretation

    • New Arrangements to Borrow, interpretation outside the purview of Article XXIV, 574

    • unenforceability of exchange contracts, 566

  • Article XXIX(a), interpretation

    • Appointment of Executive Director by a member having one of five largest quotas, Article XII, Sections 3(b)(i) and 3(f), 799

    • authority of the Fund to use its resources, 351, 939

    • privilege for communications, Article IX, Section 7, 751

    • unenforceability of exchange contracts under Article VIII, Section 2(b), 613

  • Article XXIX(a), proposed amendment, 17

  • Article XXX(c), definition of reserve tranche purchase

    • exclusion of purchases and holdings from EFF, 923

  • Article XXX(c)(iii), exclusion of purchases and holdings in credit tranches or under extended arrangements, 923

  • Article XXX(f), freely usable currencies, 858, 924

  • Article XXXI, Section 1, entry into force of Articles of Agreement, 3

  • Articles of Agreement

    • amendment, Resolution 66-2, 7

  • Asian Development Bank

    • communications concerning members’ arrears to the Fund, 902

    • exchange of documents with, 794

    • prescribed holder of SDRs, 866

  • Assessment under Article XX, Section 4, 893

  • Attribution, rule of

    • members indebted to Fund, 512

    • reduction in Fund’s holdings of currency, 520–21

  • Audit

    • external audit firm, 855

    • framework Administered Account, 182

    • Post-SCA-2 Administered Account, 338

    • PRGF-HIPC Trust, 287, 297

    • safeguards for use of Fund resources, 352

    • Supplementary Financing Facility Subsidy Account, 927

  • Authorized signatories, 810

B

  • Balance of payments need

    • access policy, 472

    • conditionality, 352

    • emergency assistance, post-conflict countries, 446

    • Fund-supported programs, 354

    • lenders to ESAF Trust, need because of developments in reserves, 259, 287

    • Precautionary and Liquidity Line, 438

    • protracted balance of payments problems, 542

    • Rapid Financing Instrument, 434

  • Bank for International Settlements (BIS)

    • cross-border capital flows, surveillance of, 73

    • investment by Fund of currencies held by Borrowed Resources Suspense Accounts, 606

    • investment by Fund of currencies received by SFF Subsidy Account, 935

    • prescribed holder of SDRs, 865

  • Bank of Central African States

    • prescribed holder of SDRs, 866

  • Bank-Fund collaboration

    • conditionality, 778–82

    • country programs, 778

    • debt sustainability assessments, 784

    • Financial Sector Assessment Program, 127

    • financial systems, 778

    • IMF-World Bank Concordat, 759–71

    • longer-term program engagement, 501

    • observer status, generally, 771

    • World Bank observer status, 772

  • Bilateral Borrowing Agreements

    • termination of 2009 agreements, 603

  • Bilateral payments arrangements

    • stand-by arrangement, 414

    • three-month settlement rule, temporary exemption, 617

  • Bilateralism and convertibility, 616–17

  • Blackout periods

    • General Resources Account arrangements, 408

  • Board of Governors Resolutions

    • Composite Resolution, 941

    • quota and voice reform, 3

    • SDR allocation, First Basic Period, 870–71

    • SDR allocation, Ninth Basic Period, 872

    • SDR allocation, Third Basic Period, 871

  • Borrowed Resources Suspense Accounts

    • establishment, 605

    • investment by the Fund of currencies held in, 605–6

  • Borrowing by the Fund. See also General Arrangements to Borrow (GAB); New Arrangements to Borrow (NAB)

    • guidelines, 607

    • Note Purchase Agreement, 612

    • proposed modalities for 2012, 609

  • Burden sharing

    • implementation in FY 2000, 529

    • implementation in FY 2001, 531

    • implementation in FY 2007, 534

    • rate of charge, determination of, 531

  • By-Laws

    • Section 20, audits, 182, 285, 290, 322, 329, 335, 339, 855, 934

    • Section 22, compulsory withdrawal, 903, 906, 907

C

  • Capital account crises

    • access policy, 476

    • exceptional access policy, 2004 review, 486

    • exceptional access policy, SRF, 482

  • Capital flows

    • action to limit disequilibrium flows, Composite Resolution, 956

    • cross-cutting themes and possible policy framework, 74

    • Fund’s role in cross-border flows, 72

    • institutional view of liberalization and management, 79

    • multilateral aspects of policies, 77

    • role of the Fund, 82

    • WTO, information on Fund decisions requesting a member to exercise capital controls, 999

  • Capital transfers

    • controls by members, 564

    • multiple currency practices applicable solely to, 627

    • payments arrears, 448

    • use of Fund’s resources for, 628

  • Caribbean Development Bank (CDB), 796

  • Censure

    • draft declaration, 904

  • Central African Economic and Monetary Union

    • surveillance over monetary and exchange rate policies, 66

  • CFF. See Compensatory Financing Facility

  • Charges

    • accounting for charges from members with overdue obligations, 522

    • administrative account balances, 923

    • extended arrangements, 414

    • future changes in charges, 522

    • media of payment in General Resources Account, 524

    • payment by nonparticipant in the SDR Department, 524

    • payment of net charges and assessment in the SDR Department for FY ended April 30, 1982, 891

    • setoff in connection with a retroactive reduction of charges due by members in arrears, 528

    • special charges on overdue financial obligations to the Fund, 525–26, 527

    • stand-by arrangements, 414

    • surcharge on purchases in credit tranches and under EFF, 522

    • value date for payments of special charges, 527

    • waiver of special charges, 526

  • Code of Good Practices on Transparency in Monetary and Financial Policies, 379

  • Collateral, 685

    • collateral guarantees on debt, international reserves template, 685

  • Combating the financing of terrorism, 160, 166–69, 169–71

  • Committee on Reform of the International Monetary System Composite Resolution, 941–53

  • Communications, privilege for interpretation of Article IX, Section 7, 751

  • Compensatory Financing Facility

    • indicative targets, 356, 357

    • repeal, 367

    • repurchase expectation, 516

    • repurchases, 516

  • Compulsory withdrawal, 905, 907, 908

  • Concessional financing

    • eligibility to use Fund’s facilities, 554

    • use of Fund’s facilities, 554

  • Conditionality

    • Bank-Fund collaboration, 778

    • benchmarks, 356, 358

    • consistency with WTO agreements, 789

    • consultation clauses, 356

    • emergency assistance, natural disasters, 444–46

    • emergency assistance, post-conflict countries, 448

    • emergency financing mechanism, 493

    • financing assurance reviews, 357

    • first credit tranche, 389

    • floating tranches, 359

    • guidelines on, 352

    • individual circumstances of members, 353

    • letters of intent, 356

    • modalities, 355

    • outcomes-based, 355

    • ownership, 353, 383, 778–82

    • performance criteria, 357

    • performance criteria and phasing, relationship, 393

    • performance criteria on external debt, guidelines, 395

    • performance criteria with respect to foreign borrowing, 403

    • PRGF-ESF arrangements, 390

    • principles, 352

    • prior actions, 356, 371, 374, 391

    • program design, 353

    • program review, 357–63

    • review, 2012, 360

    • stand-by arrangement, normal access to credit tranches, 388

    • streamlining, 390, 392

    • structural benchmarks, 356–63

    • structural performance criteria inapplicable, 363

    • upper credit tranche stand-by arrangements, 474

    • waiver, adopting measures prior to granting of, 356

    • waiver, nonobservance of performance criteria, 358

  • Confidentiality

    • exchange of documents with other international agencies, 795

    • FSAP Confidentiality Protocol, 150–54

    • side letters, 363–70

  • Consultation clause

    • stand-by arrangements, 415

  • Consultation cycles, Article IV. See also Article IV consultations

    • annual in principle, 106

    • FCL or PLL arrangement, effect of, 113

    • flexibility in, 106

    • interval between Article IV consultations, 106

  • Consultations other than under Article IV

    • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 621

    • Article VIII restrictions, 615, 616, 771

    • Article XIV restrictions, 616, 619, 771

    • bilateral agreements, 616

    • competitive depreciation, 625

    • conditionality, consultation clauses, 356

    • GATT Contracting Parties, 756

    • multiple currency practices, 619

    • prescribed holders of SDRs, 864

    • PRGF-ESF, consultation with creditors, 261

    • sale of members’ currencies, 507

    • trade and payments restrictions, escalation, 625

    • United Nations, 967, 969

    • World Trade Organization, 788–91

  • Contingent Credit Lines (CCLs)

    • extended arrangements and, 415

  • Convertibility

    • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 620

    • bilateralism, 616

    • currency, 618, 620

    • current account of the balance of payments, 620, 622

    • retention quotas, 617

  • Cross-border capital flows

    • surveillance, 72

  • Cross-conditionality

    • avoidance, 770

  • Currencies

    • attribution of reduction of Fund’s holdings, 520–21

    • charges on Fund’s holdings in excess of quota, 522

    • freely usable, 332, 858, 865, 924, 932

    • General Resources Account, 506–7, 511, 524, 537–39

    • guidelines for operational budget allocation of currencies, review, 509

    • maintenance of value, 537–39

    • presently needed for making payments, 352

    • repurchases, 517

    • reserve asset payments, 19, 21

    • sale of currencies of members with outstanding purchases, 507, 509

    • SDR valuation basket, 858–61

    • subscription to the Fund, ownership, 19

    • use in operational budgets, 506–7

  • Current international transactions (current account transactions)

    • bilateralism, 616

    • multiple currency practices, 627–30

    • payments arrears, 462

    • restrictions involving WTO members, 792, 999

    • restrictions on payments and transfers, 616, 620

    • undue delays in availability or use of foreign exchange, 623

    • use of Fund resources, 352

D

  • Data Dissemination Standard. See Special Data Dissemination Standard (SDDS) and General Data Dissemination System (GDDS)

  • Data Dissemination Standards Bulletin Board

    • General Data Dissemination System (GDDS), 744

  • Data provision to the Fund for surveillance, 645

    • review, 2008, 649

    • review, 2012, 653, 654

  • Debt limits

    • performance criteria in Fund arrangements, 395

    • policy in Fund-supported programs, 401

  • Debt operations

    • condition precedent clauses, 469

    • management of the debt situation, 469

    • mandatory prepayment, 469

  • Debt strategy

    • payments of arrears to creditors, 460, 462, 623

  • Debt sustainability assessments, 782–85

    • Fund-Bank collaboration, 782

  • Debt sustainability framework

    • low-income countries, 254

  • Debt-service ratio, 303

  • Declaration of censure, 902

  • Declaration of ineligibility, 901–2, 906, 908

    • publicity, 851, 918

    • termination, 918

    • timing, 913

  • Declaration of noncooperation, 902–3, 909

    • draft declaration, 906

    • publicity upon withdrawal, 919

    • termination, 918

    • timing, 913

  • De-escalation of remedial measures, 919–21

  • Default, sovereign, 463, 494

  • Designation, SDR Department

    • acceptance limit, 887

    • assessment of strength of balance of payments and governance position, 506–7

    • rules for designation, review, 885–88

    • rules for designation, revision, 888–89

  • 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, 961

    • establishment and composition, 948

    • Executive Directors’ participation in meetings, 950

    • HIPC Initiative, 290, 298

    • Managing Director’s participation in meetings, 950

    • procedures, 951–52

    • rules of procedure, 960

    • WTO observer, 793

  • Discrimination

    • balance of payments reasons, 620

    • disputes between members, comparable treatment of creditors, 120, 463

    • multiple currency practices, 633

    • nondiscriminatory treatment of members, use of general resources, 353–54

  • Disputes between members

    • comparable treatment principle, 120

    • role of the Fund, 122, 469

  • Document exchange. See Exchange of documents with other international agencies

  • DSBB. See Dissemination Standards Bulletin Board

E

  • Early repurchases

    • guidelines, 516–18

    • member’s balance of payments and gross reserve position, 516

  • Early warning system models, 63

  • Easing work pressures

    • omnibus paper, 428

  • East African Development Bank

    • prescribed holder of SDRs, 866

  • East Caribbean Currency Authority

    • prescribed holder of SDRs, 866

  • Eastern Caribbean Central Bank

    • prescribed holder of SDRs, 866

  • Eastern Caribbean Currency Union

    • surveillance over monetary and exchange rate policies, 69

  • Emergency assistance

    • post-conflict countries, 276, 449–54

    • PRGF-HIPC Trust qualification, 276–78

    • repeal and replacement by Rapid Financing Instrument, 436

    • repurchase, 517

  • Emergency financing mechanism (EFM)

    • conditions for activation, 495

    • early repurchase, 497

  • Enhanced Structural Adjustment Facility (ESAF) Trust (transformed into Poverty Reduction and Growth Facility (PRGF) Trust)

    • access limits, 267

    • benchmarks, 266

    • blend of general and SAF/ESAF resources, 917

    • borrowing for Loan Account, consultation with creditors, 262

    • commitment amount not normally reduced, 267

    • commitment period, 263

    • eligible members, 547

    • emergency assistance, relation to, 447

    • establishment, 262–63, 549–56

    • gold pledge, 914, 916

    • gold, use of, 265

    • legal documentation, 268–69

    • loans in conjunction with existing facility, 264

    • loans in conjunction with SAF loans, 545

    • loans to Trust as member’s official reserves, 268

    • maturity of loans, 264

    • objectives of programs, 265

    • operational agreements, 262–68

    • overdue financial obligations to Fund, 897

    • performance criteria, 260, 266

    • phasing of disbursements, 267

    • prior actions, 266, 376

    • rescheduling not available, 265

    • review, 265

    • review of arrangements, mid-year, 264, 265

    • rights accumulation program, 916

    • Special Disbursement Account, 264

    • Structural Adjustment Facility, assistance in conjunction with, 545–46, 558–59

    • Subsidy Account, 264

    • transfer and retransfer of resources from and to Special Disbursement Account, 556–58

    • transformation to PRGF Trust, 259–60

    • use of SDRs, 869

  • Enhanced surveillance

    • annual and mid-year consultation reports, 116–17

    • Article IV consultations, 117, 118

    • Article VIII obligations, 623

    • criteria and procedures, 123–24

    • Executive Board involvement, 125

    • Fund’s role in assisting members with creditors, 122–24

    • midterm review, 116–17

    • quantified economic policy programs, 118

    • revised procedures, 117–18

    • staff reports, transmittal by member to creditors, 118, 124

  • Enlarged access

    • criteria for use of Fund resources, validity, 472–76

    • repurchases, 473

  • Euro

    • freely usable currency, 924

    • rates for computation and maintenance of value, 538

    • reference rates, European System of Central Banks, 862

    • weight in SDR valuation basket, 860

  • Euro area members

    • surveillance over monetary and exchange rate policies, 66, 785–87

  • European Bank for Reconstruction and Development (EBRD)

    • exchange of documents with, 796, 798

  • European Central Bank (ECB)

    • euro reference rates, 862

    • observer status, 785–87

  • European Commission (EC)

    • Article IV consultations, 66–67

    • exchange of documents with, 796, 798

  • European Investment Bank (EIB)

    • exchange of documents with, 796

  • European System of Central Banks, 862

  • Exceptional access policy, 476

  • Exchange arrangements

    • exchange taxes and subsidies, notification, 24

    • flexible, notification of significant decision, 24

    • intervention, 24

    • multiple currency practices, prior Fund approval, 24

    • notification of, 23

  • Exchange contracts

    • unenforcability, Fund’s interpretation of Article VIII, Section 2(b), 613

  • Exchange controls

    • nonsovereign arrears stemming from imposition, 463

  • Exchange of documents with other international agencies

    • ad hoc requests, 797

    • Article IV consultation staff reports, 792, 798

    • changes in procedures, 797

    • criteria for access, 795–96

    • Recent Economic Developments reports, 793, 797

    • technical assistance reports, 794

    • use of Fund resources staff papers, 794, 797

  • Exchange rate policies

    • euro area, 785–87

  • Exchange rates

    • coherence in global policymaking, 789

    • computations and maintenance of value, 537–39

    • computations and maintenance of value (value date), 537

    • fixed, 628

    • floating guidelines, 956

    • fluctuating, 24, 628–29

    • General Arrangements to Borrow, 572

    • New Arrangements to Borrow, 572

    • unification in multiple rate systems, 633

  • Exchange restrictions

    • approval by Fund, 624

    • Article VIII, Section 2, 3, and 4 obligations, 621–22

    • avoidance of escalation, 625

    • balance of payments reasons, 622

    • bilateralism, 616–17

    • competitive depreciation, 625

    • consultations with Fund, 621–22, 625

    • discrimination for balance of payments reasons, 620

    • emergency assistance, 445–46

    • Fund representation in exceptional circumstances under Article XIV, Section 3, 631, 857

    • guiding principle on whether a measure is an exchange restriction, 621

    • non-balance of payments reasons, 622

    • performance criteria, stand-by arrangement, 413

    • retention quotas, 617–19

    • security reasons, 615–17

    • transitional arrangements under Article XIV, 618–19, 621

    • undue delays, 564, 623

    • World Trade Organization, information on Fund approval, 999

  • Exchange subsidies, 24

  • Exchange taxes, 24, 628, 632

  • Executive Board

    • Alternate Executive Directors, additional, 11

    • code of conduct, 800–6

    • meetings, procedural guidelines, 806–7

    • minimum circulation period for documents, 108

    • notification of exchange arrangements, 23

    • reform of, Resolution 66-2, 7

    • report on Eleventh General Review of Quotas, 3

    • side letters procedures, 368

  • Executive Directors

    • additional appointed, “the preceding two years,” in Article XII,

    • Section 3(c), meaning of, 800

    • appointment by members having five largest quotas, Article XII, 799

    • appointment of two additional directors, Article XII, Section 3(c), 799–800

    • IMFC meetings participation, 943

    • procedural guidelines, 806–7

    • voting power, effect of adjustment of quota, 800

  • Exogenous Shocks Facility

    • assistance under, 241

  • Exogenous Shocks Facility (ESF) Trust. See Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust

  • Extended arrangements

    • charges, 414

    • completion of reviews, 420

    • Consultation clauses, 415

    • emergency assistance and, 447–48

    • form, standard, 415–20

    • ineligibility, 894

    • misreporting and noncomplying purchases, 371, 375, 376

    • overdue financial obligations to the Fund, 894–95

    • phasing, 415–20

    • structural performance criteria not applicable, 363

  • Extended Credit Facility

    • interest rate, 251

  • Extended Fund Facility

    • applicable situations, 405

    • arrangements for periods not exceeding four years, 407

    • charges, 408

    • form of extended arrangement, 415

    • phasing of purchases, 407

    • repurchases, 407

    • review, 408

    • stand-by arrangement policies applicable, 408

    • waiver of conditions of Article V, Section 3(b)(iii), 407

  • External Audit Committee, 856

  • External audit of Fund financial statements, 855–56

  • External debt

    • management of debt situation, 469–70

  • External debt performance criteria

    • concessionality, definition, 405

    • guidelines, 396

    • stand-by arrangement, 413

F

  • Federal Reserve Bank of New York, 862

  • Financial Action Task Force

    • Fund collaboration with, 178

  • Financial Action Task Force (FATF) 167–72

    • 40+8 Recommendations, 168

    • endorsement of methodology, 172

    • Fund collaboration with, 174

    • surveillance, 126, 132, 134

  • Financial crisis 2007–08

    • stock-taking of Fund response, 83

  • Financial Sector Assessment Program (FSAP)

    • anti-money laundering, 133, 160

    • Article IV consultations, 126, 129, 131, 132, 134

    • Bank-Fund collaboration, 127, 131, 150

    • confidentiality, 130, 131

    • Confidentiality Protocol, 150–54

    • coverage, 133

    • coverage and frequency, 128–29

    • Financial Stability Assessments (FSSAs), 147

    • Financial System Stability Assessments (FSSAs), 126, 127, 134

    • frequency, 128, 133

    • FSSA reports, presumed publication, 135

    • Independent Evaluation Office review, 135

    • offshore financial centers (OFCs), 129, 160, 161, 163

    • publication of FSAP reports, 130

    • publication of FSAP reports not authorized, 130

    • publication of FSSA reports endorsed, 131

    • Reports on Observance of Standards and Codes (ROSCs), 127

    • review, 131

    • review, 2005, 131

    • stability assessments, integration of, 135

    • stability assessments, mandatory, 147

    • standards and codes, 127

    • stress tests, 127

    • surveillance, 126, 127, 132, 134

    • updates, 132

    • World Bank, collaboration with, 126, 128

  • Financial stability assessment

    • mandatory, 113

  • Financial Stability Board

    • cross-border capital flows, surveillance of, 73

    • membership of the Fund, 85, 88

  • Financial Stability Forum, 84

  • First credit tranche purchase

    • elimination of payments arrears, 461

    • liberal Fund attitude, 389

    • reasonable efforts test, 389, 461

  • First credit tranche stand-by arrangements

    • phasing and performance clauses omitted, 389

  • Fiscal agency

    • safeguards on use of Fund resources when fiscal agent not central bank, 378

  • Flexible Credit Line

    • Article IV consultation cycle, 112

    • Emergency Financing Mechanism procedures not applicable, 423

    • establishment, 420

    • performance criteria not applicable, 421

    • phasing not applicable, 421

    • qualification criteria, 420

    • requirement to review 12-month arrangement after six months eliminated, 424

    • review (2011), 425

    • review no later than November 2014, 443

    • review of decision, 424

  • Forms

    • draft declaration on censure or noncooperation, 906

    • draft first letter to all Governors regarding a member’s overdue financial obligations to the Fund, 904–5

    • draft second letter to all Governors regarding a member’s overdue financial obligations to the Fund, 905–6

    • extended arrangement, 415–20

    • stand-by arrangement, 411–15

  • Fourteenth General Review of Quotas, 7

  • Fragile situations, countries in

    • unique challenges, 251

  • Framework Administered Account for Selected Fund Activities

    • instrument to establish, 184

  • Framework Administered Account for Technical Assistance Activities

    • adoption of Instrument to establish, 179

    • Instrument to establish, 179–83

    • investment of resources, 181

    • Pacific Financial Technical Assistance Centre Subaccount, 183

  • Freely usable currencies (euro, Japanese yen, pound sterling, U.S. dollar), 332, 858, 865

  • Fund-Bank collaboration

    • attendance at Fund Board Meetings, 771, 804

    • Financial Sector Assessment Program, 133

  • Furnishing of information to the Fund, 372, 637–49

G

  • G-20 mutual assessment process, 149, 150

  • General Agreement on Tariffs and Trade (GATT)

    • arrangement for consultation and cooperation with the Contracting Parties, 756–60

    • Fund collaboration with, 787–94, 956

    • import restrictions for balance of payments reasons, 622

    • Voluntary Declaration on Trade and Other Current Account Measures, 956

  • General Arrangements to Borrow (GAB), 565–81

    • borrowing by the Fund, guidelines, 607

    • emergency financing mechanism, 493

    • interest, 544

    • letter from France’s Minister of Finance to U.S. Secretary of the Treasury, 577–80

    • participants and amounts of credit, 576

    • quotas, Eleventh General Review, 3

    • repayment by the Fund, 570–72

    • sales of currencies of members indebted to Fund, 512

    • transferability of claims, 572

    • use of credit arrangements for nonparticipants, 575

  • General Data Dissemination System (GDDS)

    • access by the public, 657

    • bulletin board on the Internet, 744

    • coverage, periodicity, timeliness of data, 711

    • integrity, 739

    • phased approach, 708

    • purposes, 707, 709

    • quality, 741

  • General Resources Account (GRA)

    • adjustment of Fund holdings of members’ currency, 538

    • annual reimbursement of PRGF-ESF Trust expenses, 561

    • designation, assessment of strength of member’s balance of payments and gross reserve position, 506

    • gold held, sale, 560

    • maintenance of value, 538

    • media payment in, 524

    • misreporting and noncomplying purchases, 371–74

    • overdue charges, 526

    • rates for computation and maintenance of value, 538

    • repayment expectation under PRGF Trust, failure to meet, 258

    • rights approach, 916

    • rules, applicability to PRGF Trust administration, 259

    • sale of currencies at the request of members with outstanding purchase, 509

    • sale of SDRs by the Fund for payment for increase in quota, 515

    • specification of currencies by the Fund, 509–10

    • Subsidy Account, reimbursement of administrative expenses, 933

    • transfers of SDRs instead of currencies under Article V, Section 3(f), 507

  • Global Financial Stability Report (GFSR), 53

  • Gold

    • designation of SDRs, 886, 887

    • gold pledge for use of ESAF Trust resources, 913–17

    • gold pledge for use of PRGF-ESF Trust resources under rights approach, modalities, 559–61

    • harmonization of excess holdings of SDRs, 886–87

    • interim administered account for windfall gold sales profit, 246

    • interim administered account for windfall gold sales profits, 242

    • ownership of gold and currency for subscriptions, 19

    • payment for repurchases, 519

    • use of gold sales profits in Investment Account, 825

  • Governance issues

    • Article IV consultations, 97, 99

    • coordination with bilateral donors and multilateral agencies, 100

    • corruption, 93, 95, 96

    • HIPC Initiative, 299

    • identification of problems, 99

    • macroeconomic impact test for Fund involvement, 93, 98, 100

    • policy advice, 92, 94

    • role of the Fund, 102, 104, 707, 708

    • technical assistance, 92, 99

    • technical issues, 92, 94

    • transparency, 92, 96

    • use of Fund resources, 98

  • Gross reserve position

    • assessment for purposes of designation plans, operational budgets, and early repurchases, 509

  • Guidelines

    • access by members to Fund’s general resources, 470

    • allocation of currencies, operational budget, 509–10

    • borrowing by the Fund, 607

    • conditionality, 352–63, 389

    • corrective action, 371–74, 382

    • designation plans, 506

    • early repurchases, guidelines, 516–18, 520

    • emergency assistance, natural disasters, 445

    • emergency assistance, post-conflict, 446–49, 449–54

    • Fund staff collaboration with the WTO, 787–94

    • governance issues, 91–102

    • minimum circulation periods for Executive Board documents, 108

    • misreporting and noncomplying purchases, 371–74

    • operational budget, 506–7

    • payment of reserve assets for subscription, 19–22

    • performance criteria on external debt in Fund arrangements, 395

    • performance criteria with respect to foreign borrowing, discount rate for assessing concessionality, 403–4

    • SDR valuation basket, calculation of currency amounts, 858–60, 860–61

    • SDR valuation basket, conversion into euro of deutsche mark and French franc, 862

    • selection of currencies by the Fund, 509–10, 511–12

H

  • Heavily Indebted Poor Countries (HIPC) Initiative status of implementation (2011), 310

I

  • Immunities and Privileges of Specialized Agencies, United Nations Convention, 972–89

  • Import restrictions for balance of payments reasons

    • GATT, 461

    • stand-by arrangements, 413

  • Income position

    • MDRI-I Trust reimbursement for FY 2013, 330

    • PCDR Trust reimbursement for FY 2013, 934

    • placement of FY 2013 net income of GRA to Special Reserve and General Reserve, 821

    • PRGT reimbursement for FY 2013, 250

    • PRGT Reserve Account Transfer to Subsidy Account, 536

    • PRGT Reserve Account transfer to Subsidy Account, FY 2012 and FY 2013–14, 536

    • rate of charge on UFR for FY 2013 and FY 2014, 536

    • rate of charge on UFR for FY 2014, 536

    • transfer of investment income for FY 2012 to GRA, 820

    • transfer of investment income for FY 2013 to GRA, 821

  • Ineligibility to use Fund resources

    • declaration of ineligibility, 641, 901, 905, 907–13, 918

    • extended arrangements, 894

    • limitation and ineligibility under Article V, Section 5, 514

    • publicity, 918

    • stand-by arrangements, 412, 894

  • Inter-American Development Bank (IDB)

    • communication regarding members’ arrears to the Fund, 902

    • exchange of documents with, 796

  • Interest

    • means of payment under Trust Fund, 925

    • Poverty Reduction and Growth Trust, 214

    • PRGF-HIPC Trust, interest-free loans, 283

  • Interim Committee

    • governance, 377

    • International Monetary and Financial Committee, transformation of Interim Committee into, 943–46

    • rules of procedures, 959

    • safeguards for use of Fund resources, 377

    • terms of reference, 945

  • International agencies, 794

  • International Court of Justice, 968

  • International Development Association (IDA)

    • HIPC Initiative, 299, 301

    • prescribed holder of SDRs, 866

  • International Financial Statistics (IFS), 648

  • International Fund for Agricultural Development (IFAD) prescribed holders of SDRs, 866

  • International Monetary and Financial Committee (IMFC, formerly Interim Committee)

    • Fourteenth General Review of Quotas, 7

    • participation of Executive Directors in meetings, 944

    • participation of Managing Director in meetings, 944

    • procedures, 945–46

    • terms of reference, 945

  • International organizations

    • transmittal of Fund documents, 794–95

  • Interpretation

    • Article VI, use of Fund resources for capital transfers, 351

    • Article VIII, Section 2(b), unenforceability of exchange contracts, 613–14

    • Article IX, Section 7, privilege for communications, 751–52

    • Article XII, Section 3(b)(i) and Section 3(f), appointment of directors by members having one of five largest quotas, 799

    • Article XII, Section 3(c), appointment of two additional directors, 799

    • Article XIV, Section 3, Fund representation in exceptional circumstances on withdrawal of Article XIV, Section 3 restrictions, 857

    • Articles of Agreement, 351

  • Investigation of Fund activities, cooperation procedures, 748–50

  • Investment account

    • rules and regulations, 811

    • Investment Account

    • Endowment Subaccount, 816

    • establishment, 811

    • Fixed-Income Subaccount, 815

    • objective, 812

    • responsibilities of Managing Director, 813

    • sources of assets, 812

    • subaccounts and allocation of assets, 812

    • Temporary Windfall Profits Subaccount, 820

    • use of gold sales profits, 825

  • Investment authority of the Fund

    • additional considerations, 822

    • broadening the investment mandate, 811

  • Islamic Development Bank (IsDB)

    • exchange of documents with, 796

    • prescribed holder of SDRs, 866

J

  • Japanese yen

    • freely usable currency, 924

    • weight in SDR valuation basket, 859

  • Joint Staff Advisory Notes

    • streamline modalities, amendments to, 310

  • Joint Staff Assessments, 301

L

  • Lapse of time procedures

    • Article IV consultations, 108

    • program reviews, completion, 428

    • transmittal of supplementary information to WTO, 789

  • Leases, definition of external debt, 403–4

  • Lending into arrears, 464–68

    • review of policy, 468

  • Letters of intent (LOIs)

    • deletion from documents released to aid agencies, 798

    • side letters, 368–70

  • Loan Account

    • borrowing for, 216

  • Longer-term program engagement

    • definition, 502

    • review, 500

  • Low-income countries

    • access to concessional resources, 458

    • concessional financing framework, 458

    • concessional financing framework, reform of, 196

    • contingency financing, 459

    • debt sustainability framework, 254

    • design of PRGT arrangements, 460

    • fragile situations, 252

    • review of facilities, 457

    • role of the Fund, 454, 455

M

  • Maintenance of value

    • overdue adjustments, 897

    • rates for computations, 537–39

  • Managing Director

    • authorized signatories, 810

    • consultation with creditors for additional borrowing for PRGF Trust Loan Account, 262

    • consultation with member on changes in exchange rate policies, 24

    • consultation with member with outstanding purchases on sale of currency, 512

    • Development Committee, participation in meetings of, 950

    • General Arrangements to Borrow, proposals for calls, 575

    • International Monetary and Financial Committee, participation in meetings of, 944

    • nondiscriminatory treatment of members, 354

    • SDR allocation, proposals for first basic period, 870

    • use of Fund resources, recommendation regarding approval, 354

  • Military expenditure and the role of the Fund

    • Article IV consultations, 103, 104

    • performance criteria, 104

  • Misreporting and noncomplying disbursements, PRGF-ESF Trust

    • missed repurchase expectation, 851

    • prior action, accuracy of information, 376

    • repayment expectation, 272, 281

    • safeguards for use of Fund resources, 378

    • waiver of applicability or for nonobservance of performance criteria, 261

  • Misreporting and noncomplying purchases, General Resources Account

    • corrective action, 371–74

    • performance criteria or other conditions, accuracy of information, 372, 381–82

    • prior actions, accuracy of information, 375

    • publication of cases, 851

    • safeguards for use of Fund resources, 376–81

    • waivers, 372

  • Misreporting and noncomplying purchases, Policy Support Instrument (PSI)

    • corrective action, 191

  • Misreporting and noncomplying purchases, PRGF and PRG Trust

    • corrective action, 235

  • Misreporting in de minimis cases

    • Article VIII, Section 5, 643

    • de minimis, definition, 374

    • General Resources Account, 373

    • Policy Support Instrument, 193

    • Special PRGF Operations for HIPC, 280

  • Moral hazard, 451, 477, 488, 493

  • Multilateral Debt Relief Initiative

    • status of implementation (2011), 310

  • Multilateral Debt Relief Initiative (MDRI)

    • proposed decisions, 312

    • qualification of non-HIPCs, 313

  • Multilateral Debt Relief Initiative-I (MDRI-I) Trust

    • administration, 321

    • amendment, 323

    • completion point, 317

    • decision point, 317

    • eligibility, 319

    • investment of resources, 322

    • media of payment of contributions, 318

    • purposes, 317

    • unit of account, 318

  • Multilateral Debt Relief Initiative-II (MDRI-II) Trust

    • administration, 328

    • amendment, 330

    • completion point, 324

    • decision point, 324

    • eligibility, 326

    • instrument to establish, 324

    • liquidation, 329

    • media of payment of contributions, 325

    • purposes, 324

    • unit of account, 325

  • Multiple currency practices

    • approval, 24, 633

    • approval criteria, when imposed for balance of payments reasons, 621, 635

    • approval criteria, when imposed for non-balance of payments reasons, 622

    • Article IV consultations, 636

    • balance of payments reasons, 628, 635

    • capital transactions, 636

    • consultation with Fund prior to changes, 627, 628

    • discrimination, 635

    • exchange taxes, 632

    • jurisdiction of the Fund, 629

    • nonbalance of payments reasons, 627, 636

    • official action, 634, 635

    • policy in 1947, 626–32

    • policy in 1957, 633

    • policy in 1998, 634–36

    • simplification of complex rate systems, 633

    • spread, 634

    • statement to members transmitting Funds decisions, 626

    • unification of exchange rates as basic Fund objectives, 633

  • Multi-year rescheduling arrangements (MYRAs)

    • enhanced surveillance and, 123

  • Mutual assessment process, G-20, 149

N

  • Natural disasters, emergency assistance, 443

  • New Arrangements to Borrow

    • new participants, 599

    • rollback of credit arrangements, 602

  • New Arrangements to Borrow (NAB), 581–601

    • activation period, 585

    • adherence, 584

    • Fourteenth General Review of Quotas, 10

    • General Terms and Conditions for NAB Notes, 588

    • interest, 589

    • meeting of participants, 601

    • rates of exchange, 592

    • special calls, 587

    • transferability, 593

    • transferability of claims, 604–5

    • withdrawal from adherence, 595

    • withdrawal from membership, 596

  • Noncooperation draft declaration, 902

  • Nondiscriminatory treatment of members

    • Paris Club, 121

    • Use of Fund resources, 353

  • Nordic Investment Bank

    • prescribed holder of SDRs, 866

  • Note Purchase Agreement

    • issuance of notes by Fund to official sector, 612

O

  • Observer status in the Fund

    • European Central Bank, 785

    • World Bank, 771–74

    • World Trade Organization, 787, 999

  • Observer status of the Fund

    • World Bank, 771

    • World Trade Organization, 1000

  • Official clearing and payments arrangements

    • temporary exemption from three-month settlement rule, 617

  • Offshore financial centers (OFCs), 161

    • assessment program, 160–63

    • inclusion in FSAP reports, 129

    • integration of assessment program with FSAP, 163

    • publication of reports, 162

  • Operational budgets

    • assessment of strength of member’s balance of payments and gross reserve position, 506

    • guidelines for operational budget allocation of currencies, review, 509

    • specification of currencies by the Fund, 509, 511

    • transfers of SDRs under Article V, Section 3(f), 507

  • Organization for Economic Cooperation and Development (OECD)

    • exchange of documents, 798

  • Overdue financial obligations to the Fund

    • accounting charges, 525

    • Annual Report (IMF), 900

    • complaint by Managing Director, 900

    • compulsory withdrawal, 902, 903, 908, 909

    • declaration of censure, 902, 906

    • declaration of ineligibility, 901, 906, 908, 910, 918

    • declaration of noncooperation, 903, 907, 909, 918

    • de-escalation of remedial measures, 919

    • draft first letter to all Governors, 904–5

    • draft second letter to all Governors, 905–6

    • Eleventh General Review of Quotas, 3

    • ESAF, no access, 896–97

    • extended arrangements and, 894

    • flexibility in de-escalation policy because of Qualifying Catastrophic Disaster, 922

    • Ninth General Review of Quotas, 901, 910

    • nontoleration of arrears to official creditors, 462

    • overdue maintenance of value adjustments, 897

    • Overseas Economic Cooperation Fund (OECF), 404

    • preferred creditor status of Fund, 897, 898, 906, 910

    • prevention/deterrence measures, strengthened timetable of procedures, 912

    • PSI, nonapproval, 189

    • requests for the use of Fund resources under a stand-by or extended arrangements, management will not submit, 894

    • review of strategy (2012), 922

    • review period, 895

    • setoff in connection with retroactive reduction of charges, 528

    • stand-by arrangements and, 894

    • strengthened cooperative strategy, 907–13, 917–18

    • suspension of voting rights, 911

    • technical assistance suspension, 921

P

  • Paris Club

    • Agreed Minute, 121

    • debt rescheduling and Fund arrangements or programs, 910

    • debtors’ negotiations with, 120

    • PRGF qualification for assistance, 276

    • rescheduling discussions, 797

    • rescheduling in the absence of Fund arrangement, 910

    • rescheduling operations, Fund opposition to matching, 453

    • settlement of disputes between Fund members and Fund neutrality, 121

  • Payments arrears of a member to other (non-Fund) creditors

    • Fund lending into nonsovereign arrears, 462–68

    • Fund lending into sovereign arrears, 462–68

    • Fund policies and procedures, 462–68

    • performance criteria, 460

  • Payments arrears, settlement of disputes between members, 120

  • Performance criteria under Fund arrangements

    • accuracy of information, 375

    • conditionality guidelines, 352

    • debt limits, 395

    • definition, 357

    • first credit tranche, not subject to, 389

    • number and content of, 357

    • omitted in stand-by arrangements within first credit tranche, 389

    • phasing, relationship, 393–95

    • reporting on implementation, confidentiality relating to, 371

    • side letters, 371

    • structural performance criteria not applicable, 363

    • waiver for nonobservance, 358, 372, 374

    • waiver of applicability, 359, 374

  • Phasing and performance criteria under Fund arrangements

    • omitted in stand-by arrangements within first credit tranche, 389

    • operational guidelines, 393

    • relationship, 393

  • Policy framework papers. See also Poverty Reduction Strategy Papers

  • Policy Support Instrument

    • Article IV consultation cycle, 112

  • Policy Support Instrument (PSI), 183–95

    • application of Guidelines on Conditionality, 194

    • arrears, 194

    • assessment criteria, 191

    • definition, 189

    • documents required, 189

    • eligibility, 189,190

    • implementation, 190

    • misreporting, 192

    • poverty reduction strategy documents, 189

    • review, 195

    • side letters, 194

    • structural assessment criteria not needed for monitoring, 196

    • termination, 336

  • Position in the Fund, 509

  • Post-Catastrophe Debt Relief Trust

    • debt flow relief, 344

    • debt stock relief, 344

    • eligibility, 343

    • establishment, 340

    • flexibility in de-escalation policy with respect to overdue payments to the Fund, 922

    • purposes, 341

    • Qualifying Catastrophic Disaster, 344

    • Special Disbursement Account, 342

    • Umbrella Account, 350

  • Post-conflict emergency assistance, 294, 297, 330, 446–47, 449–54

  • Post-Conflict Emergency Assistance Subsidy Account for PRGF-Eligible Members

    • establishment, 331

    • fees, none, 336

    • instrument to establish, 331–37

    • investment of resources, 334

    • purpose, 331

    • rate of charge subsidy, 333

    • resources, 332

    • SDRs, use of, 337

    • settlement of questions, 337

    • termination, 336

    • use of resources, 333

  • Post-Program Monitoring

    • Article IV consultation, 498

    • publication policies, 498

  • Post-SCA-2 Administered Account

    • adoption of Instrument to establish, 338

    • instrument to establish, 338–40

  • Pound sterling

    • freely usable currency, 924

    • weight in SDR valuation basket, 859

  • Poverty and Growth Reduction Trust

    • cost of administering, 562

  • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust

    • contributions, value date for operations and transactions, 261

    • decision waiving the applicability of a performance criterion, 261

    • establishment, adoption of Instrument,198

    • instrument to establish, 200

    • modalities of gold pledge under rights approach, 559

    • other provisions, 258

    • post-SCA-2 Administered Account, 339

    • prior actions, accuracy of information, 376

    • proposed decisions, 312

    • repayment expectation, 258

    • transformation to Poverty Reduction and Growth Trust, 196

    • waiver of performance criteria, accuracy of information, 260–61

  • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust loans

    • performance criteria, 260, 266

    • performance criteria, accuracy of information, 260–61

    • prior action, accuracy of information, 376

    • repayment expectation, 258

    • waiver of applicability or for nonobservance of performance criterion, 376

  • Poverty Reduction and Growth Trust

    • accuracy of data to assess observance of performance criteria, 260

    • assistance, amount of, 209

    • assistance, eligibility and conditions, 202

    • eligibility criteria, 549

    • Exogenous Shocks Facility, assistance under, 241

    • Extended Credit Facility, 196

    • instrument to establish, 200

    • interest rate structure, review, 251

    • loans, terms of, 214

    • misreporting and noncomplying disbursements, 235

    • Note Purchase Agreement, 257

    • overdue financial obligations, 238

    • Rapid Credit Facility, 201

    • Subsidy Accounts, 221

  • Poverty Reduction Strategy (PRS)

    • conflict-affected states, special requirements, 309

    • goals, 307

    • Millennium Development Goals (MDGs), achievement of, 306

    • review, 305

  • Poverty Reduction Strategy Papers (PRSPs)

    • core principles, 306

    • definition, 273

    • progress, 300

    • role in HIPC initiative, 276

    • role in PSI operations, 189

  • Poverty Strategy Reduction Paper (PSRP)

    • followed by Joint Staff Advisory Paper, 310

  • Precautionary and Liqudity Line

    • conditionality, 437

  • Precautionary and Liquidity Line

    • access limits, 438

    • balance of payments need, 438

    • duration, 437

    • eligibility, 436

    • establishment to replace Precautionary Credit Line, 425

    • relationship between performance criteria and phasing not applicable, 393

    • review no later than November 2012, 443

    • safeguard assessment, 441

    • terms and conditions, 436

  • Precautionary Credit Line

    • Article IV consultation cycle, 112

    • repealed, 442

    • review (2011), 425

    • review of decision, 424

  • Preferred creditor status of Fund, 293, 451, 898, 907, 910

  • Prior actions

    • accuracy of information regarding implementation, 375

    • definition, 356

    • implementation under PRGF, 376

    • reporting on implementation, confidentiality relating to, 371

    • side letters, 371

    • use in emergency financing mechanism, 495

    • use in enhanced structural adjustment facility, 266

    • use in Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility, 376

    • use in Policy Support Instrument, 192

  • Program reviews, 362

    • ex-post assessments, 432

    • ex-post evaluations, multi-country, 431

    • lapse of time completion, 428

    • procedural deadlines for completion, 433

  • Prolonged use of Fund resources

    • Article IV consultations, 498

    • assessment, 498

    • definition, 499

    • precautionary arrangements, 499

  • Protracted balance of payments problem, 313, 542

  • Public Information Notices (PINs)

    • presumed publication, 846

  • Publication

    • Article IV consultation staff reports, pilot project, 852

    • authorization and consent, 826

    • country documents, 827

    • Fund policy documents, 836

    • Letters of Intent, 846

    • multi-country documents, 837

    • PINs on use of Fund resources, 847

    • suspension of voting rights and termination of suspension, 851

    • transparency policy, 826

  • Purchase transactions

    • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 413

    • suspension of transactions under stand-by arrangement, 414

    • temporary suspension under Article XXVII, effect on GAB, 573

Q

  • Quotas

    • ad hoc increases, 22

    • Eleventh General Review, 3

    • Fourteenth General Review, 7

    • Ninth General Review, 910

    • payments of reserve assets in connection with subscription, 19

    • sales of SDRs by Fund to members for quota payments, 515

    • Seventh General Review, 20, 515, 872, 888

    • Sixth General Review, 20

    • voice and quota, reform of, 3

    • voting power and adjustment of quotas, 800

R

  • Rapid Credit Facility (RCF)

    • access, 209

    • assistance under RCF, 207

    • interest rate, 251

    • low-income countries in fragile situations, 252

  • Rapid Financing Facility

    • balance of payments need, 434

  • Rapid Financing Instrument

    • access limits, 435

    • establishment to replace emergency assistance policy, 427

    • outright purchases, 435

    • terms and conditions, 434

  • Recent Economic Developments reports (REDs)

    • balance of payments consultations, WTO, 788

    • no longer included in Article IV consultation documentation, 106

    • transmittal to multilateral agencies, 788, 793, 795

  • Reconstitution of SDRs

    • abrogation of rules, 890

  • Reform of the Executive Board, Resolution 66-2, 7

  • Regional Economic Outlooks (REOs), 53

  • Repayment expectations, PRGF Trust, 258, 281, 272

  • Reports on Observance of Standards and Codes (ROSCs)

    • anti-money laundering initiatives, 161, 167, 177

    • assessment procedures, 168

    • no longer circulated to Executive Directors in hard copy form, 157

    • principle of uniformity, 170

    • reports on observance associated with FATF-led assessments generally not designated as ROSCs, 170

    • surveillance, 649

  • Repurchase expectations

    • attribution of reduction of currency, 520

    • Compensatory Financing Facility, 516

    • failure to meet and extended arrangements, 373, 382

    • failure to meet and stand-by arrangements, 382

    • misreporting and noncomplying purchases, 371–74, 382

    • publication of failure to meet, 850

  • Repurchases

    • access policy, 472–73

    • assessment of strength of members’ balance of payments and gross reserve position, 506

    • attribution of reductions in Fund’s holdings of currencies, 520

    • credit tranches, 518

    • early repurchases, guidelines, 520

    • emergency assistance, 518

    • extended arrangements, 473

    • gold, acceptance in payment, 519

    • gold, obligation to pay, 519

    • procedures, 518

    • Schedule B, 519

    • SDRs, 519

    • selection of currencies by Fund, 508, 511

    • special charges on overdue repurchases, 518–20

    • stand-by arrangements, 473

    • timing of repurchases within a calendar month, 518

  • Reserve assets

    • payment in connection with subscriptions, 19

  • Reserve position, gross

    • assessment for purposes of designation plans, operational budgets, and early repurchases, 506

  • Reserve tranche position

    • administrative accounts, 923

    • attribution of reductions in Fund’s holdings of currencies, 520

    • balances held in Administrative Account, 923

    • extended arrangements, 923

    • remunerated position, 21

  • Reserve tranche purchases, exclusion of purchases and holdings

    • credit tranches, 923

    • extended arrangements, 923

    • General Arrangements to Borrow, 570

  • Retention quotas, 617–19

  • Reviews under Fund arrangements

    • stand-by arrangement, 411

  • Revolving character of the Fund’s resources, 445, 473

  • Rights accumulation programs, 383, 914, 917, 919

    • gold pledge, 916

  • Rights approach

    • arrears to the Fund, reduction, 914

    • extension of availability, 922

    • gold pledge, 914

    • modalities of gold pledge for use of PRGF Trust resources, 559, 914

    • operational modalities, 914

    • PRGF-HIPC Trust eligibility, 275

    • PRGF-HIPC Trust qualification, 276

    • three-year period norm, 914

  • Rule I-6(4)(a), 536

  • Rule I-6(4)(b), 536

  • Rule T-2, 893

  • Rules and Regulations

    • Rule G-1, fiscal agency, 572

    • Rule G-4, request for a purchase, 514

    • Rule I-10, rate of remuneration, 532, 534

    • Rule I-6(4)(a), 531, 534

    • Rule I-6(4)(b), 532, 534

    • Rule I-6(4), rate of charge, 526, 528, 531, 534, 932

    • Rule K-1, 755

    • Rule O-1, value of SDR, 862

    • Rule O-10, operational budget, 507

    • Rule O-2(a), 862

    • Rule O-2, valuation of currencies in terms of SDRs, 538, 572, 862, 874, 875, 877, 879, 881

    • Rule P-7, prescribed operation, 874, 876, 877, 879, 882, 883

    • Rule P-9, recording of SDR transactions, 337, 867, 868, 875, 877, 878, 880, 882, 883, 884

    • Rule R-1 through Rule R-6, rules for reconstitution (abrogated), 890

S

  • Safeguard assessment process

    • Rapid Financing Instrument, 435

  • Safeguards assessment policy

    • review of experience, 2010, 387

  • Safeguards assessment process

    • audits, 378, 379, 380

    • confidentiality, 380, 386

    • distinction between first and second stages no longer applicable, 385

    • first stage, 379, 385

    • Precautionary and Liquidity Line, 441

    • reports to remain confidential, 382

    • review, 380

    • second stage, 379, 385

  • Safeguards, use of Fund resources

    • benchmarks based on Code of Good Practices on Transparency in Monetary and Financial Policies, 379

    • publication of audited central bank financial statements, 379

  • Sales of currencies of members indebted to the Fund

    • sale of currencies at the request of members with outstanding purchases, 513

  • Santiago Principles, 88

  • Schedule B, transitional provisions, 20, 519

  • Schedule D

    • paragraph 1(a), proposed amendment, 17

    • paragraph 5(e), proposed deletion, 17

    • paragraph 5(f), proposed amendment, 17

  • Schedule E

    • proposed amendment, 18

  • Schedule F, designation, 886

  • Schedule G, paragraph 1(a), reconstitution, 890

  • Schedule J, settlement of accounts with withdrawing members, 573

  • Schedule K, administration of liquidation, 573

  • Schedule L

    • paragraph 1(b), proposed amendment, 18

    • paragraph 3(c), proposed amendment, 18

    • suspension of voting rights, 944

  • Second Amendment

    • Article IV (surveillance over exchange rate policies), 20

    • payment of reserve assets in connection with subscription, 20

    • repurchase under Schedule B, 519

    • surveillance over exchange rate policies, 20

  • Security reasons, exchange restrictions for, 615

  • Settlement of disputes between members relating to external debt

    • comparable treatment of creditors, 120

    • Paris Club, 121

    • role of the Fund, 119

  • Short-Term Liquidity Facility

    • repeal, 367

  • Side letters, use of Fund resources, 368–70

  • Small states

    • Fund’s engagement with, 62

  • Sovereign default, 463, 494

  • Sovereign wealth funds

    • generally accepted principles and practices (GAPPs), 89

    • Santiago Principles, 88

  • Special accounts for administrative purposes

    • calculation of holdings of a member’s currency, 799

  • Special Contingent Account

    • additions to, 896

  • Special Data Dissemination Standard (SDDS)

    • coverage, 657

    • flexibility, 661

    • purpose and framework, 656

    • subscription, 664

  • Special Data Dissemination Standard Plus (SDDS Plus)

    • dimensions, four, 694

    • Dissemination Standards Bulletin Board, 699

    • establishment, 694

    • implementation, 699

    • purpose and framework, 694

  • Special Data Dissemination Standards (SDDS)

    • access by the public, 656

    • balance-sheet approach, 647

    • debt sustainability assessments, 647

    • liquidity management, 647

  • Special Data Dissemination Standard (SDDS)

    • Dissemination Standards Bulletin Board, 664

  • Special Disbursement Account

    • Post-Catastrophe Debt Relief Trust, 342

  • Special Disbursement Account (SDA)

    • ESAF-HIPC Trust, 287

    • investment, 540

    • PRGF-HIPC Trust, 272, 286

    • repayment expectation under PRGF Trust, failure to meet, 258

    • Structural Adjustment Facility administration, 540

    • termination and transfer of resources from Trust Fund, 926

    • termination of assistance from SAF in conjunction with loans from ESAF Trust, 558

    • transfer of resources to the ESAF Trust and retransfer to the SDA, 556

  • Special drawing rights (SDRs)

    • allocation for first basic period, 870

    • allocation for the ninth basic period, 872

    • allocation for third basic period, 871

    • contributions to PRGF-HIPC Trust, 275

    • currency reference rates, 860

    • currency weights, 859

    • designation review rules, 885

    • designation rules, revision, 888

    • euro, weight in valuation basket, 859

    • harmonization of holdings, 886

    • holders prescribed by the Fund

      • African Development Bank, 866

      • African Development Fund, 866

      • Andean Reserve Fund, 866

      • Arab Monetary Fund, 866

      • Asian Development Bank, 866

      • Bank for International Settlements, 865

      • Bank of Central African States, 866

      • Central Bank of West African States, 866

      • East African Development Bank, 866

      • East Caribbean Currency Authority, 866

      • Eastern Caribbean Central Bank, 866

      • European Central Bank, 866

      • International Bank for Reconstruction and Development (World Bank), 866

      • International Development Association, 866

      • International Fund for Agricultural Development, 866

      • Islamic Development Bank, 866

      • Nordic Investment Bank, 866

    • Japanese yen, weight in valuation basket, 859

    • means of repayment by members on indebtedness under loan agreements, 925

    • other holders, acceptance, holding or use, 863

    • payment of net charges and assessment in the SDR Department for FY

    • ended April 30, 1982, 891

    • payment of subscriptions, 19

    • pound sterling, weight in valuation basket, 859

    • PRGF-HIPC Trust unit of account and media of payment, 274

    • reconstitution, abrogation of rules, 890

    • reserve asset payments, 19

    • sales by the Fund for payment of subscriptions, 19

    • sales by the Fund for the payment of charges, 525

    • terms and conditions for accepting, holding, or using SDRs, 863

    • transfers of SDRs for purchases under Article V, Section 3(f), 507

    • U.S. dollar, weight in valuation basket, 859

    • use in donations, 883

    • use in ESAF Trust operations or under an administered account, 868

    • use in forward operations, 882

    • use in loans, 877

    • use in payment of Trust Fund obligations, 799, 925

    • use in pledges, 877

    • use in PRGF-HIPC Trust operations or under an administered account, 869

    • use in repurchases, 518

    • use in settlement of financial obligations, 874

    • use in Structural Adjustment Facility operations, 867

    • use in subsidy payment from SFF Subsidy Account, 867

    • use in swap operations, 881

    • use in transfers as security for the performance of financial obligations, 879

    • valuation basket, guidelines for calculation of currency amounts, 858

    • valuation basket, guidelines for calculation of currency amounts, revised guidelines, 858

    • valuation of US dollar for purposes of Rule O-2(a), 862

    • value of SDR, method of collecting exchange rates for calculation for purposes of Rule O-2(a), 862

  • Special Drawing Rights (SDRs)

    • method of valuation, 861

  • Specification of currencies, 511

  • Staff reports on Article IV consultations

    • document exchange with WTO, 795

    • military expenditure, 102

    • presumed publication, 846

    • transmittal to international agencies, 794, 796, 797

  • Staff reports on enhanced surveillance

    • transmittal by members to creditors, 106, 124, 153

  • Staff reports on use of Fund resources and post-program monitoring

    • publication policy, 846

  • Standards and Codes Initiative

    • crisis resolution and deposit insurance, new policy areas, 158

    • review (2011), 157

  • Stand-by arrangements

    • access to credit tranches, normally through, 388

    • arrangements not international agreements, 355

    • conditionality guidelines, 352

    • consultation clauses, 356, 413

    • contractual connotation avoidance, 356

    • duration, normal, 389

    • emergency purchases and, 444, 445, 449

    • external debt performance criteria, guidelines, 395

    • first credit tranche, 389

    • form, standard, 411

    • ineligibility, 414, 894

    • misreporting and noncomplying purchases, 371–74, 374, 375

    • noncomplying purchases, 373

    • nondiscriminatory treatment of members, 354

    • overdue financial obligations to the Fund, 894

    • performance criteria with respect to external debt, 403, 413

    • performance criteria, accuracy of information, 375

    • period for, 388

    • phasing, 389

    • policies and procedures, 389

    • PRGF-HIPC Trust eligibility, 275

    • PRGF-HIPC Trust qualification, 276

    • prior actions, accuracy of information, 374

    • program evaluation, 359

    • repurchase, 414

    • repurchase expectation, 373, 414

    • reserve tranche purchases, 923

    • review, 411

    • structural performance criteria not applicable, 363

    • suspension of right to engage in transactions, 414

    • uniform treatment of members, 354

    • waiver for nonobservance of performance criteria, 372, 374, 375

    • waiver of applicability of performance criteria, 374, 375

  • Stand-By Arrangements

    • completion of reviews, 420

  • Stand-by Credit Facility

    • interest rate, 251

  • Strengthened cooperative strategy

    • de-escalation of remedial measures, 919

    • procedures, 908

    • reversibility of actions, 918

    • rights approach eligibility, extension, 922

  • Structural Adjustment Facility (SAF)

    • access, potential, 542, 547

    • amounts of assistance, 541

    • commitment period, 542

    • commitment period, new, 546

    • disbursements, 543, 546

    • eligible members list, 547

    • income from investment and loans, 556

    • loans under Enhanced Structural Adjustment Facility (ESAF), 545

    • protracted balance of payments problem, 313, 542

    • purposes, 541

    • qualification for assistance, 542

    • resources, 541

    • SDRs, use in operations, 867, 868

    • terms of loans, 543

  • Subscriptions

    • accounting by members, 19

    • ownership of gold and currency, 19

    • reserve asset payments, 19–22

  • Summings up and concluding remarks for policy items

    • review and finalization process, 807

  • Supplemental Reserve Facility (SRF)

    • exchange rate for payment of subsidies, 955

    • overdue financial obligations, 414

    • repeal, 367

  • Supplementary Financing Facility (SFF) Subsidy Account, 928

    • eligible members, 931

    • exchange rate for payment of subsidies, 936

    • instrument to establishment, 928

    • investment, 930

    • means of subsidy payments, 936

    • rescheduling in cases of serious hardship, 927

    • resources, 928

    • SDRs, use of, 867

    • subsidy amount, 930

    • suspension of transfers and re-transfer of surplus, 935

    • transfer from Special Disbursement Account, 929, 935

  • Surveillance

    • 1977 Decision, review of and proposal, 43

    • 2012 Decision on Bilateral and Multilateral Surveillance, 27

    • Article IV consultations, 38

    • balance-sheet analysis, 647

    • bilateral surveillance, 2012 Decision, 30

    • bilateral, 2007 decision, transitional issues, 107

    • Central African Economic and Monetary Union, 67

    • cross-border capital flows, 72

    • currency unions, 31

    • data provision, 645

    • Eastern Caribbean Currency Union, 69

    • euro area, 64, 66

    • extension of three-month period, 105

    • legal framework, 25

    • modalities, 34

    • modernizing the legal framework, 2012, 24

    • multilateral consultations, 40

    • multilateral surveillance, 2012 decision, 32

    • principles for guidance to the Fund, 29

    • principles for the guidance of member’s policies, 35

    • priorities, 2008-2011, 56

    • procedures, 38

    • publicity, 851

    • review of 2012 Decision, 41

    • ROSCs, 646, 649

    • scope, 30

    • Special Data Dissemination Standards, 648

    • stability assessments under FSAP mandatory, 136, 147

    • stability assessments under FSAP, integration of, 138

    • systematically important financial sectors, 140

    • systemic stability, 30

    • systemically important financial sectors, 147

    • three-month rule, 104

    • triennial review, 2008, 51

    • triennial review, 2011, 59

    • West African Economic and Monetary Union, 70

  • Suspension of membership, 903

  • Suspension of voting rights

    • participation in International Monetary and Financial Committee, 944

  • Swiss National Bank

    • GAB participant, 576, 580

  • Systematically important financial sectors

    • financial stability assessments in surveillance, 140

  • Systemically Important Financial Sectors

    • conceptual framework, 142

T

  • Technical assistance

    • cooperation with Trusteeship Council, 968

    • exchange rate system simplification, 634

    • members not cooperating with the Fund, 902, 904

    • post-conflict countries, 446

    • transmittal of reports to international agencies, 795

  • Trade

    • Trade Integration Mechanism, 504

    • trade-related balance of payments adjustments, 504

  • Trade Integration Mechanism, 503

  • Trade restrictions

    • avoidance of escalation, 625, 956

    • emergency assistance, 445

    • ESAF, 266

    • import restrictions for balance of payments reasons, GATT, 622

    • import restrictions for balance of payments reasons, stand-by arrangements, 413

    • WTO involvement, 788

  • Tranche policies

    • first credit tranche, 389

    • floating tranche, 359

  • Transferability of claims

    • General Arrangements to Borrow, 580

  • Transparency

    • 2013 review of policy, 826

    • archives, access by outside persons, 746

    • foreign reserves management, 378

    • governance, 92

    • safeguards for use of Fund resources, 379

  • 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, 270

    • instrument to establish, 270

  • Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • administration of, 284

    • amendment of, 286

    • Annual Progress Report (APR), 273

    • assistance amount, 278

    • completion point, 271, 279, 280, 281, 282, 292, 294, 295

    • contributions by other donors, 287

    • contributions to, 325

    • debt sustainability, 272, 278, 282, 283, 293, 294, 302

    • debt sustainability analysis, 271

    • debt-to-exports ratio, 272, 281, 296

    • debt-to-revenue ratio, 272

    • decision point, 271, 276, 278, 279, 291, 294, 298, 302, 303

    • eligibility, 275, 302

    • grace period on loans, 283

    • grants and loans, 275

    • Guidelines on Misreporting, 273

    • implementation, progress, 294–98

    • implementation, review, 298–302

    • instrument to establish, adoption of, 269

    • interest, 272, 283

    • interim assistance, 280

    • Interim Poverty Reduction Strategy Papers (I-PRSPs), 273, 300

    • investment of resources, 274, 285, 287

    • Joint Staff Advisory Note (JSAN), 273

    • liquidation, 285

    • maturity of loans, 282

    • operation and liquidation, 285

    • Paris Club, 272, 276, 279, 295, 300, 305

    • performance-related conditions, 280, 289

    • Poverty and Social Impact Analysis (PSIA), 308

    • Poverty Reduction Strategy Papers (PRSPs), 273, 276, 295, 296, 308

    • qualification for assistance, 276

    • rescheduling of payments not allowed, 283

    • retransfers authorized, 288

    • SDRs, use in operations, 285, 337

    • self-sustained operations, 272, 286, 298

    • special charges on overdue interest and repayments, 526

    • Special Disbursement Account, transfers from, 274

    • streamlining preliminary HIPC documents, 302

    • subsidies for interim PRGF operations, 283

    • terms of assistance, 282

    • track record of performance, 293, 295, 299, 302, 305

    • Trust Account and resources, 274

  • Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and the Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • status of implementation (2011), 310

  • Trust for Special PRGF Operations Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • completion point, 303

    • decision point, 303

    • eligibility and eligible members, 305

    • implementation status, 303

    • sunset clause, 286, 305

  • Trust Fund

    • final direct distribution of profits, 926

    • means of repayment by members on their indebtedness under loan agreement, 925

    • SDRs, use in payment of Trust Fund obligations, 867

    • special charges on overdue financial obligations, 525–26, 926

    • termination and transfer of resources to Special Disbursement Account, 926

    • terms of repayment of final loan disbursement and amendment of Trust instrument, 928

U

  • Undue delay in availability or use of foreign exchange, 564, 623

  • Uniformity of treatment principle

    • post-conflict assistance, 452

    • settlement of disputes among members, comparable treatment, 120

    • use of Fund’s general resources, 354

  • United Nations

    • agreement with the IMF, 965–71

    • Convention on the Privileges and Immunities of the Specialized Agencies, 972–89

    • exchange of documents with, 967

    • UNDP, exchange of documents with, 796

    • Uniting for Peace General Assembly Resolution, 940

  • United States (U.S.) dollars

    • financial statements of Framework Account, expressed in, 182

    • maintenance of value, rates for computation, 538

    • means of payment by members on indebtedness under Trust Fund loan agreements, 925

    • medium of payment, loan disbursements, repayments, and interest under GAB, 544

    • medium of payment, MDRI-I Trust, 318

    • medium of payment, MDRI-II Trust, 325

    • medium of payment, PRGF-HIPC Trust, 275

    • payment of special charges on overdue payments, Trust Fund loans, 527

    • payments of interest on members’ indebtedness under Trust Fund loans, 925

    • valuation in terms of special drawing rights as per Rule O-2(a), 862

    • weight in SDR valuation basket, 859

  • Use of Fund resources

    • accordance with purposes of the Fund, 351

    • arrears, resolving the problem of, 905

    • authority of the Fund to use its resources

      • Resolution, 939

      • resolving problem of arrears, 351

    • capital transfers, 351, 563

    • concessional financing, eligibility, 554

    • conditionality guidelines, 352–63

    • financing current account deficits, 351

    • Flexible Credit Line, 364, 420

    • form, extended arrangement, 415

    • form, stand-by arrangement, 411

    • ineligibility under Article V, Section 5, 514

    • ineligibility, effect on purchases under stand-by arrangement, 414

    • interpretation of Articles of Agreement, 351

    • limitation and ineligibility under Article V, Section 5, 514

    • meaning of “consistent with the provisions of this Agreement” under Article V, Section 3, 351

    • meaning of “represents”, 352

    • meaning of “represents” that a member has a need to make purchases, 352

    • nondiscriminatory treatment of members, 354

    • performance criteria and phasing, 393

    • postponement and limitation under Article V, Section 5, 514

    • repayment expectation under PRGF-ESF Trust, failure to meet, 258

    • repeal of CFF, SRF, and Short-term Liquidity Facility, 367

    • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 414

    • safeguards, strengthening of, 376–81

    • side letters, 368, 370

    • suspension of exchange transactions, effect on General Arrangements to Borrow, 573

    • suspension of transactions under stand-by arrangements, 414

V

  • Voluntary Declaration on Trade and Other Current Account Measures, 956

  • Voting power majority

    • compulsory withdrawal, 909

W

  • Waiver of performance criteria

    • applicability, 358, 374, 375

    • nonobservance, 191, 374, 375

  • Waiver of special charges, 526

  • World Bank (International Bank for Reconstruction and Development)

    • agreement with WTO, 994, 995, 997

    • Bank-Fund collaboration, 104, 761, 772, 773, 778

    • collaboration with Fund and WTO, 791, 792

    • collaboration with Fund on corporate sector vulnerability analysis, 64

    • collaboration with Fund on shifting resources from military, 104

    • Development Committee, 947

    • ESAF policy framework process, 265

    • Financial Sector Assessment Program, 127

    • Fund-Bank Concordat, 760

    • governance, 93, 94, 101

    • HIPC Initiative, 291, 298, 301

    • investment by Fund of currencies received by SFF Subsidy, 935

    • military expenditures, 104

    • observer status in the Fund, 771

    • post-conflict assistance, 466

    • prescribed holder of SDRs, 866

    • PRGF-HIPC Trust, 271

    • rights approach, 915

    • suspension of voting rights, 911

  • World Economic Outlook (WEO)

    • military spending, 102

    • multilateral surveillance, 53, 353

    • WTO observer status, 1000

  • World Trade Organization (WTO)

    • balance of payments consultations, 788

    • coherence in global policymaking, 789

    • consistency of policy advice and obligations, 789

    • cross-conditionality, avoidance, 791

    • document exchange, 793

    • Fund staff observer at WTO meetings, 1000

    • guidelines/framework for Fund staff collaboration, 787

    • IMF-WTO Agreement, text, 998

    • lapse of time procedure in transmittal of supplementary information to WTO, 789

    • observer status, 793

    • resolution of open jurisdictional issues, 791

    • suspension of transactions under stand-by arrangements, 414

    • WTO staff observer at Executive Board meetings, 999

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