Index
A
Access policy
Poverty Reduction and Growth Trust 200
Access policy, use of Fund resources
access guidelines and limits in credit tranches and under Extended Fund Facility 434
balance of payments needs 421
capital account crises 437
capital account crises, modifications to Supplemental Reserve Facility 443
capital account crises, prevention 457
exceptional circumstances 438, 449
exceptional circumstances, review 448
Flexible Credit Line 334
modifications to Supplemental Reserve Facility 443
Rapid Financing Instrument 409, 410
review 443
Accounting by members
ownership of gold and currency subscriptions 17
Administered Account
interim account for windfall gold sales profits 201
Administrative Account
balances 862
reserve tranche position 862
African Development Bank
communication concerning members arrears to the Fund 841
exchange of document 728
prescribed holder of SDRs 804
African Development Fund 804
Andean Reserve Fund
prescribed holder of SDRs 804
Annual Report (IMF) 250
Anti-money laundering
effectiveness, review of program (2011) 132
FSAP framework 133
Anti-money laundering and CFT
review of strategy, 2014 135
Arab Monetary Fund
exchange of documents with 728
prescribed holder of SDRs 804
Archives policy
access by outside persons 686
Arrears
lending into arrears to official creditors 422
lending into arrears to private creditors 426, 428
settlement of disputes between members 433
Arrears of a member to creditors other than the Fund
debt strategy 421
extended arrangements, performance criterion 370
first credit tranche 420
Fund lending into nonsovereign arrears 427
Fund lending into sovereign arrears 428
Fund policies and procedures 420
non-toleration of arrears to official creditors 422
performance criteria 427
stand-by arrangement, performance criterion 370
Article I, purposes of the Fund 302, 574, 579
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 582
Article XIV restrictions 582
bilateral and multilateral consultations 24
Central African Economic and Monetary Union 50
conditionality discussions 310
data provision 603
document exchange with WTO 720
Eastern Caribbean Currency Union 52
euro area 47, 49
European Central Bank, observer status 717
evaluation and review of related programs 310
governance issues 64, 69
macro-financical surveillance 42
multiple currency practices 586
Post-Program Monitoring 464
procedural deadlines for completion 405
use of Fund resources 310
World Bank, collaboration with 713
World Bank, observer status 707
World Trade Organization, observer status 724, 940
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, 726
Article IV, Section 3(b), surveillance over exchange rate policies 726
Articles of Agreement
amendment, Resolution 66-25
Article V, Section 1, designation of fiscal agency 531
Article V, Section 2(b) 201
Article V, Section 2(b), financial and technical services 137
gold sale profits 201
interim administered account for remaining windfall gold sale profits 205
Article V, Section 3, conditions governing use of Funds general resources application of Fund policies to purchases of currency borrowed by Fund 475, 528
early repurchase guidelines 475
meaning of with the provisions of this agreement, Article V, Section 3 302
Article V, Section 3(b)(ii)
balance of payments need 229
Article V, Section 3(b)(iii), waiver of limitation of 200 percent of quota
Extended Fund Facility 367
Article V, Section 3(d), operational budgets
assessment of strength of members balance of payments and gross reserve position for operational budgets 465, 470
selection of currencies in purchases 467
Article V, Section 3(f), transfers of SDRs 466
Article V, Section 5, limitation on use of Funds resources 341
Article V, Section 6(b), transfers of SDRs by the Fund 470
Article V, Section 6(c), sales of SDRs by the Fund 474
Article V, Section 7(b), early repurchases
assessment of strength of members balance of payments and gross reserve position 465, 475
Article V, Section 7(c), repurchases 477
Article V, Section 7(i), selection of currencies for repurchases 470, 478
Article V, Section 8, charges 481
Article V, Section 8(a), charges 485, 487
Article V, Section 8(b), charges 477, 485, 487, 862
Article V, Section 8(c), charges 481, 484, 487
Article V, Section 8(d), charges 481
Article V, Section 8(e), charges 481
Article V, Section 9(a), remuneration 862
Article V, Section 11, maintenance of value 497
Article V, Section 12(f), other operations and transactions
gold sales 520, 866
Article V, Section 12(f)(ii), Special Disbursement Account (SDA) resources for assistance to low-income developing members 499
Article V, Section 12(h), investment of members currency held in SDA 499
Article V, Section 12(j), adoption of regulations for administration of Structural Adjustment Facility 499
Article VI, capital transfers
use of Fund resources for 522
WTO, information on Fund decisions requesting a member to exercise controls to prevent a large or sustained outflow of capital 935
Article VI, Section 1, use of Funds resources for capital transfers
freedom to adopt regulations on capital movements 523
Article VI, Section 2 of the Articles of Agreement of the Bank 889
Article VI, Section 3, controls on capital transfers 523
Article VII, Section 1, replenishment and scarce resources
borrowing by the Fund 524
Article VII, Section 3(b), scarce currency 573
Article VIII, general obligations of members
acceptance of obligations 581
bilateralism 574
bilateral payments arrangements 371
consultations, World Bank observer 707
payments restrictions 574, 578
restrictions 581
retention quotas 577
Article VIII, Section 2, avoidance of restrictions on current payments
acceptance of obligations under 579
Article VIII, Section 2(a)
restrictions on current payments and transfers 573
undue delays as payment restrictions 581
Article VIII, Section 2(b), unenforceability of exchange contracts
interpretation 571
Article VIII, Section 3, avoidance of discriminatory currency practices
acceptance of obligations under 577, 579
multiple currency practices 579, 587, 588
Article VIII, Section 4, convertibility of foreign-held balances
acceptance of obligations under 581
Article VIII, Section 5, furnishing of information to the Fund
declaration of censure 599
handling of potential breaches 608
members obligations 595
procedures prior to report by the Managing Director to the Executive Directors 596
review, 2008 607
sanctions 600
strengthening effectiveness of 595, 604
Article IX, Section 5, immunity of archives 686
Article IX, Section 7, privilege for communications, interpretation 691
Article X, relations with other international organizations 905
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) 693
Article XII, Section 3(j), proposed amendment 14
Article XII, Section 4, Managing Director and staff 742
Article XII, Section 6, reserves, distribution of net income, and investment 743
Article XII, Section 6(d)
partial distribution of windfall gold sale profits 201
Article XII, Section 6(f)(ii) 756
Article XII, Section 6(f)(vi) 202
Article XII, Section 6(f)(ix) 202
Article XII, Section 7, publication of reports 760
Article XII, Section 7(a) 787, 909
Article XII, Section 8 775
Article XII, Section 8, proposed amendment 14
Article XIII, Section 2 564
Article XIV, exchange restrictions under transitional arrangements
availment of transitional provisions 579
bilateralism 574
commitment to current account convertibility 581
multiple currency practices 577
retention quotas 576
Article XIV, Section 2, exchange restrictions
maintenance of orderly exchange arrangements 587
multiple currency practices 587
restrictions related to national security 573
transitional arrangements 571, 575
undue delays as payments restrictions 581
Article XIV, Section 3, representation by the Fund
application 588
meaning of exceptional circumstances 589
Article XIV, Section 3 788
Article XVII, Section 3 201
Article XVII, Section 3, other holders of SDRs 801
Article XVIII 808
Article XVIII, Section 1(a), principles and considerations governing SDR allocation and cancellation 809
Article XVIII, Section 4(c)
allocation and cancellation of SDRs 810
Article XIX, Section 2(c), SDR operations and transactions between participants
donations 821
forward operations 820
loans 813
other holders 801
pledges 815
settlement of financial obligation 812
swap operations 819
transfers as secruity for the performance of financial obligations 817
Article XIX, Section 4, limit on SDR Department participants obligation
to provide currency 528
Article XIX, Section 5, designation of participants to provide currency 823
Article XIX, Section 5(a)(i), designation plans 465, 826
Article XIX, Section 5(c), designation rules in SDR Department 826
Article XIX, Section 6(b), reconstitution 828
Article XIX, Section 7(a), calculation of exchange rates 530, 812, 813, 815, 817, 819
Article XX, Section 1, interest paid on holding of SDRs 801
Article XX, Section 2, SDR Department interest and charges 829
Article XX, Section 5, application against unpaid charges of SDRs acquired by participants after payment date 830
Article XXI(a)(ii), proposed amendment 14
Article XXIII, Section 1, suspension of operations and transactions in SDRs 803
Article XXIV, Sections 1(a) and 1(b) 808
Article XXIV, Section 4 808
Article XXVI, Section 2(b) 884, 889
Article XXVI, Section 3, withdrawal from membership 532
Article XXIX, interpretation
New Arrangements to Borrow, interpretation outside the purview of Article XXIV 533
unenforceability of exchange contracts 525
Article XXIX(a), interpretation
authority of the Fund to use its resources 302, 879
privilege for communications, Article IX, Section 7 691
unenforceability of exchange contracts under Article VIII, Section 2(b) 571
Article XXIX(a), proposed amendment 15
Article XXX(c), definition of reserve tranche purchase
exclusion of purchases and holdings from EFF 862
Article XXX(c)(iii), exclusion of purchases and holdings in credit tranches or under extended arrangements 862
Article XXX(f), freely usable currencies 863
Asian Development Bank
communications concerning members arrears to the Fund 841
exchange of documents with 728
prescribed holder of SDRs 804
Attribution, rule of
members indebted to Fund 471
reduction in Funds holdings of currency 479
Audit
external audit firm rotation 787
framework Administered Account 140
PRGF-HIPC Trust 248, 258
safeguards for use of Fund resources 303
Supplementary Financing Facility Subsidy Account 866
Authorized Fund signatories 742
B
Balance of payments need
conditionality 303
Fund-supported programs 305
lenders to ESAF Trust, need because of developments in reserves 223,247
Precautionary and Liquidity Line 384
protracted balance of payments problems 501
Rapid Financing Instrument 408
Bank for International Settlements (BIS)
investment by Fund of currencies held by Borrowed Resources Suspense Accounts 564
investment by Fund of currencies received by SFF Subsidy Account 874
prescribed holder of SDRs 803
Bank-Fund collaboration
debt sustainability assessments 716
IMF-World Bank Concordat 696
World Bank observer status 708
Bank of Central African States
prescribed holder of SDRs 804
Bilateralism and convertibility 574
Bilateral payments arrangements
stand-by arrangement 371
three-month settlement rule, temporary exemption 575
Blackout periods
General Resources Account arrangements 327
Board of Governors Resolutions
Composite Resolution 881
quota and voice reform 1
SDR allocation, First Basic Period 808
SDR allocation, Ninth Basic Period 810
SDR allocation, Third Basic Period 809
Borrowed Resources Suspense Accounts
establishment 563
investment by the Fund of currencies held in 564
Borrowing by the Fund
guidelines 565
proposed modalities for 2012 567
Burden sharing
implementation in FY 2000 487
implementation in FY 2001 490
implementation in FY 2007 492
rate of charge, determination of 490
By-Laws
Section 20, audits 140, 245, 250, 787, 873
Section 22, compulsory withdrawal 842, 845, 846
C
Capital account crises
access policy 437
exceptional access policy, 2004 review 448
exceptional access policy, SRF 443
Capital flows
action to limit disequilibrium flows, Composite Resolution 896
institutional view of liberalization and management 55
role of the Fund 58
WTO, information on Fund decisions requesting a member to exercise capital controls 939
Capital transfers
controls by members 523
multiple currency practices applicable solely to 585
use of Funds resources for 586
Caribbean Development Bank (CDB) 728
Catastrophe Containment and Relief Trust
instrument to establish 284
Qualifying Public Health Disaster, definition 291
transformation of Post-Catastrophe Debt Relief Trust 217
transformation of the Post-Catastrophe Debt Relief Trust 282
Umbrella Account, terms and conditions for administration 298
Censure
draft declaration 843
Central African Economic and Monetary Union
surveillance over monetary and exchange rate policies 50
Charges
accounting for charges from members with overdue obligations 481
administrative account balances 862
extended arrangements 372
future changes in charges 481
media of payment in General Resources Account 483
payment by nonparticipant in the SDR Department 483
payment of net charges and assessment in the SDR Department for FY ended April 30, 1982 829
setoff in connection with a retroactive reduction of charges due by members in arrears 487
special charges on overdue financial obligations to the Fund 484, 486
stand-by arrangements 372
surcharge on purchases in credit tranches and under the EFF 481
value date for payments of special charges 486
waiver of special charges 485
Chinese renminbi
currency weights from October 16, 2016 798
Code of Good Practices on Transparency in Monetary and Financial Policies 348
Collateral 643
collateral guarantees on debt, international reserves template 643
Committee on Reform of the International Monetary System Composite Resolution 881
Communications, privilege for interpretation of Article IX, Section 7 691
Compensatory Financing Facility
indicative targets 307, 308, 309
repeal 336
repurchase expectation 475
repurchases 475
Compulsory withdrawal 845, 846, 847
Concessional financing
eligibility to use Funds facilities 514
Conditionality
benchmarks 307, 308, 309
consistency with WTO agreements with Fund member 722
consultation clauses 307
emergency financing mechanism 459
financing assurance reviews 309
first credit tranche 360
floating tranches 310
guidelines on 303
individual circumstances of members 304
letters of intent 307
modalities 306
monetary policy consultation clause (MPCC) 329
monetary policy regimes 329
national ownership 304
outcomes-based 306
ownership 304, 352
performance criteria 308
performance criteria and phasing, relationship 311
performance criteria with respect to foreign borrowing 326
PRGF-ESF arrangements 362
principles 303
prior actions 308, 339, 343, 362
program design 304
program review 308
public debt limits 316
review, 2012 313
stand-by arrangement, normal access to credit tranches 359
streamlining 361, 363
structural benchmarks 307
structural performance criteria inapplicable 332
waiver, adopting measures prior to granting of 307
waiver, nonobservance of performance criteria 310
Confidentiality
exchange of documents with other international agencies 727
FSAP Confidentiality Protocol 113
side letters 336
Consultation clause
stand-by arrangements 372
Consultations other than under Article IV
acceptance of obligations of Article VIII, Sections 2, 3, and 4 579
Article VIII restrictions 573, 574
Article XIV restrictions 574, 577, 707
bilateral agreements 574
competitive depreciation 583
conditionality, consultation clauses 307
multiple currency practices 577
prescribed holders of SDRs 802
PRGF-ESF, consultation with creditors 226
sale of members currencies 466
trade and payments restrictions, escalation 583
United Nations 907, 909
World Trade Organization 720
Contingent Credit Lines (CCLs)
extended arrangements and 373
Convertibility
acceptance of obligations of Article VIII, Sections 2, 3, and 4 578
bilateralism 574
currency 576, 578
current account of the balance of payments 578, 580
retention quotas 575
Cross-conditionality
avoidance 706
Currencies
attribution of reduction of Funds holdings 479
charges on Funds holdings in excess of quota 481
freely usable 803, 863, 871
General Resources Account 465, 470, 483, 496
guidelines for operational budget allocation of currencies, review 468
maintenance of value 496
repurchases 476
reserve asset payments 19
sale of currencies of members with outstanding purchases 466, 468
subscription to the Fund, ownership 17
use in operational budgets 465
Current international transactions (current account transactions)
bilateralism 574
multiple currency practices 585
payments arrears 421
restrictions involving WTO members 723, 939
restrictions on payments and transfers 574, 578
undue delays in availability or use of foreign exchange 581
D
Data provision to the Fund
for surveillance 603
Data provision to the Fund for surveillance
review, 2008 607
review, 2012 611, 612
Data Standards Initiative
ninth review, 2015 124
Debt limits
policy in Fund-supported programs review, 2013 323
Debt operations
condition precedent clauses 433
management of the debt situation 433
mandatory prepayment 433
Debt-service ratio 271
Debt strategy
payments of arrears to creditors 419, 421, 581
Debt sustainability assessments 714
Fund-Bank collaboration 714
Debt sustainability framework
low-income countries 214
Declaration of censure 841
Declaration of ineligibility 845, 847
overdue financial obligations to the Fund 840
publicity 857
termination 857
timing 852
Declaration of noncooperation 841
draft declaration 845
publicity upon withdrawal 858
termination 857
timing 852
De-escalation of remedial measures 858
Default, sovereign 426, 460
Designation, SDR Department
acceptance limit 825
assessment of strength of balance of payments and governance position 465
rules for designation, review 823
rules for designation, revision 826
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 901
establishment and composition 888
Executive Directors participation in meetings 890
HIPC Initiative 251, 259
Managing Directors participation in meetings 890
procedures 891
rules of procedure 900
WTO observer 724
Discrimination
balance of payments reasons 578
disputes between members, comparable treatment of creditors 421
multiple currency practices 591
nondiscriminatory treatment of members, use of general resources 304
Disputes between members
role of the Fund 433
E
Early repurchases
guidelines 475
members balance of payments and gross reserve position 475
Easing work pressures
omnibus paper 401
East African Development Bank
prescribed holder of SDRs 804
East Caribbean Currency Authority
prescribed holder of SDRs 804
Eastern Caribbean Central Bank
prescribed holder of SDRs 804
Eastern Caribbean Currency Union
surveillance over monetary and exchange rate policies 52
Economic Development Document
Poverty Reduction and Growth Trust 220
Emergency assistance
post-conflict countries 236
PRGF-HIPC Trust qualification 237
repeal and replacement by Rapid Financing Instrument 410
repurchase 476
Emergency financing mechanism (EFM)
conditions for activation 461
early repurchase 463
Enhanced General Data Dissemination Standard (e-GDDS)
endorsed by Executive Board 125
Enhanced General Data Dissemination Standard (eGDDS)
access by the public 676
automated monitoring arrangements 683
dimensions 667
Dissemination Standards Bulletin Board 682
implementation 681
integrity and credibility 677
purposes and framework 667
quality 680
reviews and withdrawal 685
Enhanced Structural Adjustment Facility (ESAF) Trust (transformed in to Poverty Reduction and Growth Facility (PRGF) Trust)
blend of general and SAF/ESAF resources 855
borrowing for Loan Account, consultation with creditors 227
eligible members 507
establishment 227, 515
gold pledge 855
gold, use of 228
legal documentation 229
loans in conjunction with SAF loans 504
loans to Trust as members official reserves 229
operational agreements 227
overdue financial obligations to Fund 836
performance criteria 225
prior actions 345
rescheduling not available 228
rights accumulation program 855
Structural Adjustment Facility, assistance in conjunction with 504
Subsidy account 227
transformation to PRGF Trust 223
use of SDRs 806
Enhanced surveillance
Article VIII obligations 581
Enlarged access
repurchases 437
Euro
currency weights from October 16, 2016 798
freely usable currency 863
rates for computation and maintenance of value 497
Euro area members
surveillance over monetary and exchange rate policies 49, 717
European Bank for Reconstruction and Development (EBRD)
exchange of documents with 728, 730
European Central Bank (ECB)
observer status 717
European Commission (EC)
Article IV consultations 49
exchange of documents with 728, 732
European Investment Bank (EIB)
exchange of documents with 728
Exceptional access policy 438
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) 571
Exchange controls
nonsovereign arrears stemming from imposition 427
Exchange of documents with other international agencies
ad hoc requests 729
Article IV consultation staff reports 724, 729
changes in procedures 729
criteria for access 727
Recent Economic Developments reports 725
technical assistance reports 726
use of Fund resources staff papers 729
Exchange rate policies
euro area 47
Exchange rates
coherence in global policymaking 721
computations and maintenance of value 496
computations and maintenance of value (value date) 496
fixed 586
floating guidelines 895
fluctuating 22, 586
General Arrangements to Borrow 530
New Arrangements to Borrow 531
unification in multiple rate systems 591
Exchange restrictions
approval by Fund 582
Article VIII, Section 2, 3, and 4 obligations 579
avoidance of escalation 583
balance of payments reasons 580
bilateralism 574
competitive depreciation 583
consultations with Fund 579, 583
discrimination for balance of payments reasons 578
Fund representation in exceptional circumstances under Article XIV, Section 3 589, 788
guiding principle on whether a measure is an exchange restriction 579
non-balance of payments reasons 580
performance criteria, stand-by arrangement 370
retention quotas 575
security reasons 573
transitional arrangements under Article XIV 576, 579
undue delays 523, 581
World Trade Organization, information on Fund approval 939
Exchange subsidies 22
Exchange taxes 22, 586, 590
Executive Board
Alternate Executive Directors, additional 9
Code of Conduct 733
meetings, procedural guidelines 739
notification of exchange arrangements 21
reform of, Resolution 66–2 5
report on Eleventh General Review of Quotas 1, 336
side letters procedures 336
Executive Directors
IMFC meetings participation 883
voting power, effect of adjustment of quota 733
ex post assessments
press releases 777
Ex-post assessments
discontinued 407
Extended arrangements
charges 372
completion of reviews 377
Consultation clauses 372
form, standard 373
ineligiblity 833
misreporting and noncomplying purchases 340, 344
overdue financial obligations to the Fund 833
phasing 373
structural performance criteria not applicable 332
Extended Fund Facility applicable situations 365
arrangements for periods not exceeding four years 366
charges 367
form of extended arrangement 373
phasing of purchases 367
repurchases 367
review 368
stand-by arrangement policies applicable 367
waiver of conditions of Article V, Section 3(b)(iii) 367
External Audit Committee 787
External audit of Fund financial statements 787
External debt
management of debt situation 433
External debt performance criteria concessionality, definition 326
stand-by arrangement 370
F
Financial Action Task Force
Fund collaboration with 134
Financial Action Task Force (FATF)
endorsement of methodology 131
Fund collaboration with 132
Financial Sector Assessment Program (FSAP)
Bank-Fund collaboration 113
Confidentiality Protocol 113
coverage of macroprudential frameworks 111
Financial Stability Assessments (FSSAs) 109
offshore financial centers (OFCs) 126
review, 2014 111, 153
stability assessments, mandatory 109
Financial Stability Board
membership of the Fund 730, 732
First credit tranche purchase
elimination of payments arrears 420
liberal Fund attitude 360
reasonable efforts test 360, 420
First credit tranche stand-by arrangements
phasing and performance clauses omitted 360
Fiscal agency
safeguards on use of Fund resources when fiscal agent not central bank 348
Flexible Credit Line
ARA metric 396, 400
Emergency Financing Mechanism procedures not applicable 380
establishment 377
indicators of institutiional strength 396
indicators of institutional strength 400
performance criteria not applicable 378
phasing not applicable 378
qualification criteria 377
review (2011) 389
review, 2014 392, 397
review no later than November 2014 388
Forms
draft declaration on censure or noncooperation 845
draft first letter to all Governors regarding a members overdue financial obligations to the Fund 843
draft second letter to all Governors regarding a members overdue financial obligations to the Fund 844
extended arrangement 373
stand-by arrangement 368
Fourteenth General Review of Quotas 5
Fragile situations, countries in
unique challenges 211
Framework Administered Account for Selected Fund Activities
instrument to establish 142
Framework Administered Account for Technical Assistance Activities
adoption of Instrument to establish 138
Instrument to establish 137
investment of resources 139
Pacific Financial Technical Assistance Centre Subaccount 141
Freely usable currency
renminbi 796
Fund-Bank collaboration
attendance at Fund Board Meetings 707
Furnishing of information to the Fund 340, 595
G
G-20 mutual assessment process 120
role of the Fund 120
General Agreement on Tariffs and Trade (GATT)
Fund collaboration with 719, 896
import restrictions for balance of payments reasons 580
Voluntary Declaration on Trade and Other Current Account Measures 896
General Arrangements to Borrow (GAB) 524
borrowing by the Fund, guidelines 565
emergency financing mechanism 459
interest 503
letter from Frances Minister of Finance to U.S. Secretary of the Treasury 536
participants and amounts of credit 534
quotas, Eleventh General Review 1
repayment by the Fund 528
sales of currencies of members indebted to Fund 471
transferability of claims 531
use of credit arrangements for nonparticipants 534
General Data Dissemination System (GDDS)
phased approach 666
purposes 665
General Resources Account (GRA)
adjustment of Fund holdings of members currency 497
annual reimbursement of PRGF-ESF Trust expenses 521
designation, assessment of strength of members balance of payments and gross reserve position 465
gold held, sale 520
maintenance of value 497
media payment in 483
misreporting and noncomplying purchases 340
overdue charges 485
rates for computation and maintenance of value 496
repayment expectation under PRGF Trust, failure to meet 223
rights approach 855
rules, applicability to PRGF Trust administration 224
sale of currencies at the request of members with outstanding purchase 468
sale of SDRs by the Fund for payment for increase in quota 474
specification of currencies by the Fund 470
Subsidy Account, reimbursement of administrative expenses 872
transfers of SDRs instead of currencies under Article V, Section 3(f) 466
Gold
gold pledge for use of ESAF Trust resources 855
harmonization of excess holdings of SDRs 824
interim administered account for remaining windfall gold sales profit 205
interim administered account for windfall gold sales profits 201
ownership of gold and currency for subscriptions 17
payment for repurchases 478
use of gold sales profits in Investment Account 759
Governance issues
Article IV consultations 69
corruption 65, 67, 68
HIPC Initiative 260
macroeconomic impact test for Fund involvement 65, 70
policy advice 64, 66
role of the Fund 665, 666
technical assistance 64
technical issues 64, 66
transparency 64, 68
use of Fund resources 70
Gross reserve position
assessment for purposes of designation plans, operational budgets, and early repurchases 468
Guidelines
access by members to Fund’s general resources 434
allocation of currencies, operational budget 468
borrowing by the Fund 565
conditionality 303, 360
corrective action 340, 345
designation plans 465
early repurchases, guidelines 475, 479
Fund staff collaboration with the WTO 719
governance issues 64
misreporting and noncomplying purchases 340
operational budget 465
payment of reserve assets for subscription 17
performance criteria and phasing 311
performance criteria with respect to foreign borrowing, discount rate for assessing concessionality 326
public debt conditionality 318
SDR valuation basket, calculation of currency amounts 799
selection of currencies by the Fund 468, 470
H
Heavily Indebted Poor Countries (HIPC) Initiative
status of implementation, 2005 271
Heavily Poor Countries (HIPC) Initiative
status of implementation (2011) 269
I
Immunities and Privileges of Specialized Agencies, United Nations Convention 912
Immunity of Fund officials
policy statement 693
Import restrictions for balance of payments reasons
GATT 420
stand-by arrangements 371
Income position
assessment under Article XX, Section 4, for FY 2014 831
assessment under Article XX, Section 4, for FY 2015 831
Catastrophe Containment and Relief Trust reimbursement for FY 2015 874
MDRI-I Trust reimbursement for FY 2014 278
PCDR Trust reimbursment for FY 2014 873
placement of FY 2014 net income of GRA to the Special Reserve and the General Reserve 755, 756
PRGT reimbursement for FY2014 209
PRGT reimbursement for FY 2015 210
PRGT Reserve Account Transfer to Subsidy Account 494
PRGT Reserve Account transfer to Subsidy Account, FY 2012 and FY 2013–14 494
rate of charge for FY 2015 and 2016 495
rate of charge for FY 2016 495
transfer of currencies to the Investment Account for FY 2013 756
transfer of investment income for FY 2014 to GRA 755
transfer of investment income for FY 2015 to GRA 755
Ineligibility to use Fund resources
declaration of ineligibility 599, 844, 857
extended arrangements 833
limitation and ineligibility under Article V, Section 5 473
publicity 857
stand-by arrangements 371, 833
Inter-American Development Bank (IDB)
communication regarding members arrears to the Fund 841
exchange of documents with 728
Interest
means of payment under Trust Fund 864
Poverty Reduction and Growth Trust 173
PRGF-HIPC Trust, interest-free loans 243
Interim Committee governance 346
International Monetary and Financial Committee, transformation of Interim Committee into 883
rules of procedures 899
safeguards for use of Fund resources 346
terms of reference 885
International Court of Justice 908
International Development Association (IDA)
HIPC Initiative 260, 261
prescribed holder of SDRs 804
International Financial Statistics (IFS) 606
International Fund for Agricultural Development (IFAD)
prescribed holders of SDRs 804
International Monetary and Financial Committee (IMFC, formerly Interim Committee)
Fourteenth General Review of Quotas 5
participation of Executive Directors in meetings 884
participation of Managing Director in meetings 884
procedures 885
terms of reference 884
International organizations
transmittal of Fund documents 726
Interpretation
Article IX, Section 7, privilege for communications 691
Articles of Agreement 302
Article VIII, Section 2(b), unenforceability of exchange contracts 571
Article VI, use of Fund resources for capital transfers 302
Article XIV, Section 3, Fund representation in exceptional circumstances on withdrawal of Article XIV, Section 3
restrictions 788
Investigation of Fund activities, cooperation procedures 688
Investment Account
amendment of rules and regulations, 2015 745
Endowment Subaccount 751
establishment 743
Fixed Income SubAccount 748
Fixed-Income Subaccount and Endowment Subaccount) 746
investment strategy for the fixed-income subaccount, review, 2015 743
objective 745
responsibilities of Managing Director 746
sources of assets 745
use of gold sales profits 759
use of investment income 747
Investment authority of the Fund
additional considerations 757
Islamic Development Bank (IsDB)
exchange of documents with 728
prescribed holder of SDRs 804
J
Japanese yen
currency weights from October 16, 2016 798
freely usable currency 863
weight in SDR valuation basket 798
Joint Staff Advisory Notes
streamline modalities, amendments to 268
Joint Staff Assessments 262
L
Lapse of time procedures
program review, completion 407
program reviews, completion 401
transmittal of supplementary information to WTO 720
Lending into arrears 428
review of policy 432
Letters of intent (LOIs)
deletion from documents released to aid agencies 692, 730
side letters 336
Loan Account
borrowing for 175
Low-income countries
access to concessional resources 416
concessional financing framework 415
concessional financing framework, reform of 155
contingency financing 417
debt sustainability framework 214
design of PRGT arrangements 417
fragile situations 212
Fund support in public health disasters 217
poverty reduction strategies of the Fund 219
review of facilities 415
role of the Fund 413
M
Maintenance of value
overdue adjustments 836
rates for computations 496
Managing Director
authorized signatories 742
consultation with creditors for additional borrowing for PRGF Trust Loan Account 227
consultation with member on changes in exchange rate policies 22
consultation with member with outstanding purchases on sale of currency 471
Development Committee, participation in meetings of 890
General Arrangements to Borrow, proposals for calls 534
International Monetary and Financial Committee, participation in meetings of 884
nondiscriminatory treatment of members 305
use of Fund resources, recommendation regarding approval 305
Medium-term budget, FY 16–18
streamlining proposals 406
Misreporting and noncomplying disbursements, PRGF-ESF Trust
prior action, accuracy of information 345
repayment expectation 232, 242
safeguards for use of Fund resources 347
waiver of applicability or for nonobservance of performance criteria 225
Misreporting and noncomplying purchases
publication of cases 785
Misreporting and noncomplying purchases, General Resources Account
corrective action 340
performance criteria or other conditions, accuracy of information 340, 344
prior actions, accuracy of information 343
safeguards for use of Fund resources 346
waivers 341
Misreporting and noncomplying purchases, Policy Support Instrument (PSI)
corrective action 150
Misreporting and noncomplying purchases, PRGF and PRGT facilities
corrective action 194
Misreporting in de minimis cases
Article VIII, Section 5 601
de minimis, definition 343
General Resources Account 342
Policy Support Instrument 152
Special PRGF Operations for HIPC 241
Monetary policy regimes
conditionality 329
Moral hazard 411, 438, 450, 460
Multilateral Debt Relief Initiative
status of implementation (2011) 269
Multilateral Debt Relief Initiative-II (MDRI-II) Trust
liquidation 274
Post-MDRI-II Interim Administered Account 274
transfer of remaining balances 278
Multilateral Debt Relief Initiative-I (MDRI-1) Trust
liquidation 274
Multiple currency practices
approval 22, 591
approval criteria, when imposed for balance of payments reasons 580, 593
approval criteria, when imposed for non-balance of payments
reasons 580
Article IV consultations 594
balance of payments reasons 586, 593
capital transactions 594
consultation with Fund prior to changes 585, 586
discrimination 593
exchange taxes 590
jurisdiction of the Fund 587
nonbalance of payments reasons 585, 594
official action 592, 593
policy in 1947 584
policy in 1957 591
policy in 1998 592
simplification of complex rate systems 591
spread 592
statement to members transmitting Funds decisions 584
unification of exchange rates as basic Fund objectives 591
Mutual assessment process
G-20 120
N
New Arrangements to Borrow
establishment 540
new participants 557
rollback of credit arrangements 561
New Arrangements to Borrow (NAB)
activation period 544
adherence 542
Fourteenth General Review of Quotas 8
General Terms and Conditions for NAB Notes 547
Interest 547
meeting of participants 560
rates of exchange 551
Special Calls 546
transferability 551
transferability of claims 562
withdrawal from membership 554
withdrawal of adherence 554
Noncooperation draft declaration 841
Nondiscriminatory treatment of members
Use of Fund resources 304
Nordic Investment Bank
prescribed holder of SDRs 804
Note Purchase Agreement
issuance of notes by Fund to official sector 570
O
Observer status in the Fund
European Central Bank 717
World Bank 707
World Trade Organization 719, 940
Observer status of the Fund
World Bank 707
World Trade Organization 940
Official clearing and payments arrangements
temporary exemption from three-month settlement rule 575
Offshore financial centers (OFCs)
integration of assessment program with FSAP 126
Operational budgets
assessment of strength of members balance of payments and gross reserve position 465
guidelines for operational budget allocation of currencies, review 468
specification of currencies by the Fund 468, 470
transfers of SDRs under Article V, Section 3(f) 466
Organization for Economic Cooperation and Development (OECD)
exchange of documents 730
Overdue financial obligations to the Fund
accounting charges 484
Annual Report (IMF) 839
complaint by Managing Director 839
compulsory withdrawal 841, 842, 847, 848
declaration of censure 841, 845
declaration of ineligibility 840, 845, 847, 849, 857
declaration of noncooperation 842, 846, 848, 857
de-escalation of remedial measures 858
draft first letter to all Governors 843
draft second letter to all Governors 844
Eleventh General Review of Quotas 1
ESAF, no access to 835
extended arrangements and 833
flexibility in de-escalation policy because of Qualifying Catastrophic Disaster 861
Ninth General Review of Quotas 840, 849
nontoleration of arrears to official creditors 421
overdue maintenance of value adjustments 836
Overseas Economic Cooperation Fund (OECF) 326
preferred creditor status of Fund 836, 846, 849
prevention/deterrence measures, strengthened timetable of procedures 851
PSI, nonapproval 147
requests for the use of Fund resources under a stand-by or extended arrangements, management will not submit 833
review period 834
setoff in connection with retroactive reduction of charges 487
stand-by arrangements and 833
strengthened cooperative strategy 846, 856, 857
suspension of voting rights 850
technical assistance suspension 860
P
Paris Club
debt rescheduling and Fund arrangements or programs 849
lending into arrears to official bilateral creditors 423
PRGF qualification for assistance 237
rescheduling discussions 729
rescheduling in the absence of Fund arrangement 849
rescheduling operations, Fund opposition to matching 412
Payments arrears of a member to other (non-Fund) creditors
Fund lending into nonsovereign arrears 428
Fund lending into sovereign arrears 428
Fund policies and procedures 426
performance criteria 419
Performance criteria under Fund arrangements
accuracy of information 343
conditionality guidelines 303
definition 308
first credit tranche, not subject to 360
number and content of 308
omitted in stand-by arrangements within first credit tranche 360
phasing, relationship 311
reporting on implementation, confidentiality relating to 339
side letters 340
structural performance criteria not applicable 332
waiver for nonobservance 310, 341, 343
waiver of applicability 310, 343
Phasing and performance criteria under Fund arrangements
omitted in stand-by arrangements within first credit tranche 360
operational guidelines 311
relationship 311
Policy Support Instrument
program reviews 148
Policy Support Instrument (PSI)
application of Guidelines on Conditionality 153
assessment criteria 150
definition 147
documents required 147
Economic Development Document (EDD) 148
eligibility 147, 148
misreporting 151
policy on arrears 153
policy on side letters 153
provision of Fund technical services 147
review 154
structural assessment criteria not needed for monitoring 154
termination 153
Position in the Fund 468
Post-Catastrophe Debt Relief Trust
establishment 283
flexibility in de-escalation policy with respect to overdue payments to the Fund 861
transformation to Catastrophe Containment and Relief Trust 282
Umbrella Account 301
Post-conflict emergency assistance 254, 258
Post-MDRI-II Interim Administered Account
establishment 274
instrument to establish 279
Post-Program Monitoring
Article IV consultation 464
publication policies 464
streamlining proposals under the FY 2016–18 budget 406
Pound sterling
currency weights from October 16, 2016 798
freely usable currency 863
weight in SDR valuation basket 798
Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust
contributions, value date for operations and transactions 226
decision waivering of the applicability of a performance criterion 225
instrument to establish 159
modalities of gold pledge under rights approach 519
other provisions 222
prior actions, accuracy of information 345
repayment expectation 223
transformation to Poverty Reduction and Growth Trust 155
waiver of performance criteria, accuracy of information 225
Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust loans
performance criteria 225
performance criteria, accuracy of information 225
prior action, accuracy of information 345
repayment expectation 223
waiver of applicability or for nonobservance of performance criterion 345
Poverty Reduction and Growth Trust
access limits 200
accuracy of data to assess observance of performance criteria 225
assistance, amount of 168
assistance, eligibility and conditions 161
Economic Development Document 220
eligibility and conditions for assistance 161
eligibility criteria 509
eligibility, criteria for graduation 510
eligibility framework, review, 2015 506
Extended Credit Facility 155, 159
failure to meet repayment obligation or expectation 223
instrument to establish 159
interest rate structure, review 210
loans, terms of 173
misreporting and noncomplying disbursements 194
Note Purchase Agreement 222
overdue financial obligations 197
Rapid Credit Facility 160
Standby Credit Facility 160
Subsidy Accounts 180
Poverty Reduction and Growth TrustFacility (PRGTF) and Exogenous Shocks Facility (ESF) Trust
instrument to establishment, adoption of Instrument 157
Poverty Reduction Strategy Papers (PRSPs)
core principles 264
definition 233
progress 261
role in HIPC initiative 237
Poverty Reduction Strategy (PRS)
conflict-affected states, special requirements 267
goals 265
Millennium Development Goals (MDGs), achievement of 265
review 264
Poverty Strategy Reduction Paper (PSRP)
followed by Joint Staff Advisory Paper 268
Precautionary and Liqudity Line
conditionality 383
Precautionary and Liquidity Line
access limits 383
ARA metric 396, 400
balance of payments need 384
duration 382
eligibility 381
establishment to replace Precautionary Credit Line 389
indicators of institutional strength 396, 400
relationship between performance criteria and phasing not applicable 311
review, 2014 392, 397
review no later than November 2012 388
safeguards assessment 387
Precautionary and Liquidity Line Arrangements
terms and conditions 381
Precautionary Credit Line
repealed 388
review (2011) 389
Preferred creditor status of Fund 254, 411, 846, 849
overdue financial obligations to the Fund 836
Press releases
Article IV consultations 767
Executive Board consideration of FSAP reports 767
regional surveillance discussions 767
use of Fund resources or Policy Support Instrument 766
Prior actions
accuracy of information regarding implementation 344
definition 307
implementation under PRGF 345
reporting on implementation, confidentiality relating to 339
side letters 339
use in emergency financing mechanism 461
use in Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility 345
use in Policy Support Instrument 151
Program reviews 308
ex-post evaluations, multi-country 404
lapse of time completion 401
procedural deadlines for completion 405
Protracted balance of payments problem 501
Publication
authorization and consent 760
country documents 761
Fund policy documents 770
multi-country documents 771
transparency policy 760, 775
web posting of Poverty Reduction Strategy documentation 779
Public debt limits
conditionality 316
Public health disasters
Fund support for low-income countries 217
Publicity
suspension of voting rights 784
termination of suspension of voting rights 784
Purchase transactions
resumption of purchases under stand-by arrangement after decision of formal ineligibility 371
suspension of transactions under stand-by arrangement 371
temporary suspension under Article XXVII, effect on GAB 532
Q
Quotas
ad hoc increases 20
Eleventh General Review 1
Fourteenth General Review 5
Ninth General Review 849
payments of reserve assets in connection with subscription 17
sales of SDRs by Fund to members for quota payments 474
Seventh General Review 18, 474, 810, 826
Sixth General Review 18
voice and quota, reform of 1
voting power and adjustment of quotas 733
R
Rapid Credit Facility
assistance under RCF 166
lending into arrears to official bilateral creditors 425
low-income countries in fragile situations 212
Rapid Financing Facility
balance of payments need 408
Rapid Financing Instrument
access limits 409, 410
establishment to replace emergency assistance policy 390
lending into arrears to official bilateral creditors 425
outright purchases 409
review, 2014 392
terms and conditions 408
Recent Economic Developments reports (REDs)
balance of payments consultations, WTO 720
transmittal to multilateral agencies 720
Reconstitution of SDRs
abrogation of rules 828
Reform of the Executive Board, Resolution 66–25
Renminbi
freely usable currency 796
Repayment expectations, PRGF Trust 223, 232, 242
Reports on Observance of Standards and Codes (ROSCs)
anti-money laundering initiatives 133
assessment principles 130
no longer circulationed to Executive Directors in hard copy form discontinued 121
surveillance 607
Repurchase expectations
attribution of reduction of currency 479
Compensatory Financing Facility 475
failure to meet and extended arrangements 342, 345
failure to meet and stand-by arrangements 345
misreporting and noncomplying purchases 340, 345
Repurchases
assessment of strength of members balance of payments and gross reserve position 465
attribution of reductions in Funds holdings of currencies 479
credit tranches 477
early repurchases, guidelines 479
emergency assistance 477
gold, acceptance in payment 478
gold, obligation to pay 478
procedures 477
Schedule B 478, 479
SDRs 478
selection of currencies by Fund 467, 470
special charges on overdue repurchases 477
timing of repurchases within a calendar month 477
Reserve position, gross
assessment for purposes of designation plans, operational budgets, and early repurchases 465
Reserve tranche position
administrative accounts 862
attribution of reductions in Funds holdings of currencies 479
balances held in Administrative Account 862
extended arrangements 862
remunerated position 19
Reserve tranche purchases, exclusion of purchases and holdings
credit tranches 862
extended arrangements 862
General Arrangements to Borrow 529
Retention quotas 575
Reviews under Fund arrangements
stand-by arrangement 368
Revolving character of the Funds resources 437
Rights accumulation programs 352, 853, 856, 859
gold pledge 855
Rights approach
arrears to the Fund, reduction 853
extension of eligibility 861
gold pledge 853
modalities of gold pledge for use of PRGF Trust resources 519, 853
operational modalities 852
PRGF-HIPC Trust eligibility 236
PRGF-HIPC Trust qualification 237
three-year period norm 853
Rules and Regulations Rule G-1, fiscal agency 531
Rule G-4, request for a purchase 473
Rule I-6(4)(a) 490, 493
Rule I-6(4)(b) 490, 493
Rule I-6(4), rate of charge 485, 487, 490, 871
Rule I-6, rate of charge(4) 493
Rule I-10, rate of remuneration 490, 493
Rule K-1 695
Rule O-2, valuation of currencies in terms of SDRs 497, 531, 812, 813, 815, 817, 819
Rule O-10, operational budget 466
Rule P-7, prescribed operation 812, 814, 815, 817, 820, 821
Rule P-9, recording of SDR transactions 805, 806, 813, 814, 816, 818, 820, 821, 822
Rule R-1 through Rule R-6, rules for reconstitution (abrogated) 828
S
Safeguards assessment policy
review of experience, 2010 355
review of experience, 2015 357
Safeguards assessment process
audits 347, 348, 349
confidentiality 349, 355
distinction between first and second stages no longer applicable 354
first stage 348, 354
Precautionary and Liquidity Line 387
Rapid Financing Instrument 409
reports to remain confidential 351
review 350
second stage 349, 354
Safeguards, use of Fund resources
benchmarks based on Code of Good Practices on Transparency in Monetary and Financial Policies 348
publication of audited central bank financial statements 348
Sales of currencies of members indebted to the Fund
sale of currencies at the request of members with outstanding purchases 472
Santiago Principles 61
Schedule B, transitional provisions 18, 478
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 824
Schedule G, paragraph 1(a), reconstitution 828
Schedule J, settlement of accounts with withdrawing members 532
Schedule K, administration of liquidation 532
Schedule L
paragraph 1(b), proposed amendment 16
paragraph 3(c), proposed amendment 16
suspension of voting rights 884
Second Amendment
Article IV (surveillance over exchange rate policies) 18
payment of reserve assets in connection with subscription 18
repurchase under Schedule B 478
surveillance over exchange rate policies 18
Security reasons, exchange restrictions for 573
Short-Term Liqudity Facility
repeal 336
Side letters, use of Fund resources 336
Small states
Fund’s engagement with 45
Sovereign default 426, 460
Sovereign wealth funds
generally accepted principles and practices (GAPPs) 61
Santiago Principles 61
Special Contingent Account
additions to 835
Special Data Dissemination Standard Plus (SDDS Plus)
dimensions 652
Dissemination Standards Bulletin Board 657
establishment 652
implementation 657
purpose and framework 652
Special Data Dissemination Standard (SDDS)
coverage 615
flexibility 619
purpose and framework 614
subscription 622
Special Data Dissemination Standards (SDDS)
access by the public 614
balance-sheet approach 605
liquidity management 605
Special Data Disseminaton Standard (SDDS)
Dissemination Standards Bulletin Board 622
Special Disbursement Account (SDA)
investment 499
PRGF-HIPC Trust 233, 246
repayment expectation under PRGF Trust, failure to meet 223
Structural Adjustment Facility administration 499
termination and transfer of resources from Trust Fund 865
termination of assistance from SAF in conjunction with loans from ESAF Trust 518
transfer of resources to the ESAF Trust and retransfer to the SDA 517
Special drawing rights (SDRs) allocation for first basic period 808
allocation for the ninth basic period 810
allocation for third basic period 809
contributions to PRGF-HIPC Trust 235
currency weights 797
currency weights from October 16, 2016 798
designation rules, revision 826
euro, weight in valuation basket 798
harmonization of excess holdings 824
holders prescribed by the Fund 803, 804
African Development Bank 804
African Development Fund 804
Andean Reserve Fund 804
Arab Monetary Fund 804
Asian Development Bank 804
Bank for International Settlements 803
Bank of Central African States 804
Central Bank of West African States 804
East African Development Bank 804
East Caribbean Currency Authority 804
Eastern Caribbean Central Bank 804
European Central Bank 804
International Bank for Reconstruction and Development (World Bank) 804
International Development Association 804
International Fund for Agricultural Development 804
Islamic Development Bank 804
Nordic Investment Bank 804
means of repayment by members on indebtedness under loan agreements 865
payment of net charges and assessment in the SDR Department for FY ended April 30, 1982 829
PRGF-HIPC Trust unit of account and media of payment 235
reconstitution, abrogation of rules 828
reserve asset payments 17
rules for designation, review 823
sales by the Fund for payment of subscriptions 17
sales by the Fund for the payment of charges 484
terms and conditions for accepting, holding, or using SDRs 801
transfers of SDRs for purchases under Article V, Section 3(f) 466
U.S. dollar, weight in valuation basket 798
use in donations 821
use in ESAF Trust operations or under an administered acount 806
use in forward operations 820
use in loans 813
use in payment of Trust Fund obligations 805, 864
use in pledges 815
use in PRGF-HIPC Trust operations or under an administered account 807
use in repurchases 477
use in settlement of financial obligations 812
use in Structural Adjustment Facility operations 805
use in subsidy payment from SFF Subsidy Account 805
use in swap operations 819
use in transfers as security for the performance of financial obligations 817
valuation method from October 16, 2016 796
Specification of currencies 470
Staff reports on Article IV consultations
document exchange with WTO 727
transmittal to international agencies 726, 728
Staff reports on enhanced surveillance
transmittal by members to creditors 116
Staff reports on use of Fund resources and post-program monitoring
publication policy 780
Standards and Codes Initiative
crisis resolution and deposit insurance, new policy areas 122
review (2011) 121
Stand-by arrangements
access to credit tranches, normally through 359
arrangements not international agreements 307
conditionality guidelines 303
consultation clauses 307, 371
contractual connotation avoidance 307
duration, normal 360
emergency purchases and 410
first credit tranche 360
form, standard 368
ineligibility 371
ineligiblity 833
misreporting and noncomplying purchases 340, 343, 344
noncomplying purchases 342
nondiscriminatory treatment of members 305
overdue financial obligations to the Fund 833
performance criteria, accuracy of information 344
performance criteria with respect to external debt 326, 370
period for 360
phasing 360
policies and procedures 360
PRGF-HIPC Trust eligibility 236
PRGF-HIPC Trust qualification 237
prior actions, accuracy of information 343
program evaluation 310
repurchase 372
repurchase expectation 341, 342, 372
reserve tranche purchases 862
review 369
structural performance criteria not applicable 332
suspension of right to engage in transactions 371
uniform treatment of members 305
waiver for nonobservance of performance criteria 341, 343, 344
waiver of applicability of performance criteria 343, 344
Stand-By Arrangements
completion of reviews 377
Strengthened cooperative strategy
de-escalation of remedial measures 858
procedures 847
reversibility of actions 857
Structural Adjustment Facility (SAF)
access, potential 501, 507
amounts of assistance 500
commitment period 501
commitment period, new 505
disbursements 502, 505
eligible members list 507
income from investment and loans 516
loans under Enhanced Structural Adjustment Facility (ESAF) 504
protracted balance of payments problem 501
purposes 500
qualification for assistance 501
resources 500
SDRs, use in operations 805, 806, 807
terms of loans 502
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 740
Supplemental Reserve Facility (SRF)
exchange rate for payment of subsidies 895
overdue financial obligations 371
repeal 336
Supplementary Financing Facility (SFF) Subsidy Account 867
eligible members 870
exchange rate for payment of subsidies 875
instrument to establish 867
investment 869
means of subsidy payments 875
rescheduling in cases of serious hardship 866
resources 867
SDRs, use of 805
subsidy amount 869
suspension of transfers and re-transfer of surplus 875
transfer from Special Disbursement Account 868
Surveillance
2012 Decision on Bilateral and Multilateral Surveillance 25
Article IV consultations 36
bilateral surveillance, 2012 Decision 28
Central African Economic and Monetary Union 50
currency unions 29
data provision 603
Eastern Caribbean Currency Union 52
euro area 47, 49
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 604, 607
scope 28
Special Data Dissemination Standards 606
stability assessments under FSAP mandatory 109
systemically important financial sectors 109
systemic stability 28
triennial review, 2014 41
West African Economic and Monetary Union 53
Suspension of membership 842
Suspension of voting rights
participation in International Monetary and Financial Committee 884
Swiss National Bank
GAB participant 535
Systemically Important Financial Sectors
conceptual framework 103
T
Technical assistance
cooperation with Trusteeship Council 908
exchange rate system simplification 592
members not cooperating with the Fund 841
transmittal of reports to international agencies 726
Trade
role of trade in Fund work 59
Trade Integration Mechanism 418
trade-related balance of payments adjustments 418
Trade Integration Mechanism 418
Trade restrictions
avoidance of escalation 583, 896
import restrictions for balance of payments reasons, GATT 580
import restrictions for balance of payments reasons, stand-by arrangements 371
WTO involvement 720
Tranche policies
first credit tranche 360
floating tranche 310
Transparency
archives, access by outside persons 686
foreign reserves management 348
governance 64
presumed publication of country staff reports 780
review of policy, 2013 760
safeguards for use of Fund resources 349
use of Fund resources 785
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 231
instrument to establish 231
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 229
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust) administration of 244
amendment of 246
Annual Progress Report (APR) 233
assistance amount 239
completion point 232, 240, 241, 242, 243, 253, 254, 255, 256
contributions by other donors 248
debt sustainability 232, 239, 241, 242, 253, 254, 263
debt sustainability analysis 232
debt-to-exports ratio 232, 242, 256
debt-to-revenue ratio 232
decision point 232, 237, 239, 240, 251, 254, 259, 263, 271
eligibility 236, 263
grace period on loans 243
grants and loans 236
Guidelines on Misreporting 234
implementation, progress 254
implementation, review 259
interest 233, 243
interim assistance 240
Interim Poverty Reduction Strategy Papers (I-PRSPs) 261
investment of resources 235, 245, 248
Joint Staff Advisory Note (JSAN) 234
liquidation 246
maturity of loans 242
operation and liquidation 246
Paris Club 233, 237, 239, 255, 260, 272
performance-related conditions 240, 248
Poverty and Social Impact Analysis (PSIA) 266
Poverty Reduction Strategy Papers (PRSPs) 233, 237, 256, 259, 264
qualification for assistance 237
rescheduling of payments not allowed 243
retransfers authorized 248
SDRs, use in operations 246, 807
self-sustained operations 233, 246, 258
special charges on overdue interest and repayments 485
Special Disbursement Account, transfers from 235
streamlining preliminary HIPC documents 263
subsidies for interim PRGF operations 244
terms of assistance 242
track record of performance 253, 255, 259, 263, 273
Trust Account and resources 234
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) 233
Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and the Interim PRGF Subsidy Operations (PRGF-HIPC Trust)
status of implementation (2011) 269
Trust for Special PRGF Operations Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)
completion point 271
decision point 271
eligibility and eligible members 272
implementation status 271
sunset clause 247, 272
Trust Fund
final direct distribution of profits 865
means of repayment by members on their indebtedness under loan agreement 865
SDRs, use in payment of Trust Fund obligations 805
special charges on overdue financial obligations 484, 865
termination and transfer of resources to Special Disbursement Account 865
terms of repayment of final loan disbursement and amendment of Trust instrument 867
U
Undue delay in availability or use of foreign exchange 523, 581
Uniformity of treatment principle
post-conflict assistance 411
use of Funds general resources 305
United Nations
exchange of documents with 907
UNDP, exchange of documents with 728
Uniting for Peace General Assembly Resolution 880
United States (U.S.) dollars
currency weights from October 16, 2016 798
financial statements of Framework Account, expressed in 140
maintenance of value, rates for computation 497
means of payment by members on indebtedness under Trust Fund loan agreements 865
medium of payment, loan disbursements, repayments, and interest under GAB 503
medium of payment, PRGF-HIPC Trust 235
payment of special charges on overdue payments, Trust Fund loans 486
payments of interest on members indebtedness under Trust Fund loans 864
weight in SDR valuation basket 798
Use of Fund resources
accordance with purposes of the Fund 302
arrears, resolving the problem of 844
authority of the Fund to use its resources 302
Resolution 302
resolving problem of arrears 302
capital transfers 302, 522
concessional financing, eligibility 514
conditionality guidelines 303
financing current account deficits 302
Flexible Credit Line 333, 377
form, extended arrangement 373
form, stand-by arrangement 368
ineligibility, effect on purchases under stand-by arrangement 371
ineligibility under Article V, Section 5 473
interpretation of Articles of Agreement 302
limitation and ineligibility under Article V, Section 5 473
meaning of 303
meaning of with the provisions of this Agreement Article V, Section 3 302
nondiscriminatory treatment of members 305
performance criteria and phasing 311
postponement and limitation under Article V, Section 5 473
repayment expectation under PRGF-ESF Trust, failure to meet 223
repeal of CFF, SRF, and Short-term Liquidity Facility 335
resumption of purchases under stand-by arrangement after decision of formal ineligibility 371
safeguards, strengthening of 346
side letters 336, 339
suspension of exchange transactions, effect on General Arrangements to Borrow 532
suspension of transactions under stand-by arrangements 371
Use of Fund Resources
failure to meet repayment obligation or expectation to PRGT 223
summings up no longer prepared 786
transparency 785
V
Voluntary Declaration on Trade and Other Current Account Measures 896
Voting power majority
compulsory withdrawal 848
W
Waiver of performance criteria
applicability 310, 343, 344
nonobservance 343, 344
nonobservance under PSI 150
Waiver of special charges 485
World Bank (International Bank for Reconstruction and Development)
agreement with WTO 934, 935, 937
Bank-Fund collaboration 697, 707, 708
Bank-Fund Concordat 709
collaboration with Fund and WTO 723, 724
Development Committee 887
Fund-Bank Concordat 696
governance 65, 67
HIPC Initiative 252, 259, 261
investment by Fund of currencies received by SFF Subsidy 874
observer status in the Fund 707, 708
prescribed holder of SDRs 804
PRGF-HIPC Trust 231
rights approach 854
suspension of voting rights 850
World Economic Outlook (WEO)
multilateral surveillance 304
WTO observer status 940
World Trade Organization (WTO)
balance of payments consultations 720
coherence in global policymaking 721
consistency of policy advice and obligations 721
cross-conditionality, avoidance 722
document exchange 725
Fund staff observer at WTO meetings 940
guidelines/framework for Fund staff collaboration 719
IMF-WTO Agreement, text 938
lapse of time procedure in transmittal of supplementary information to WTO 720
observer status 724
resolution of open jurisdictional issues 723
suspension of transactions under stand-by arrangements 371
WTO staff observer at Executive Board meetings 939