Selected Decisions and Selected Documents of the International Monetary Fund
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Back Matter

Author(s):
International Monetary Fund
Published Date:
August 1999
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INDEX

(*indicates Decision and Resolution as amended)

Decision No.Page
A Accounting by members for transactions with the Fund170-33
Accounts:
Administrative accounts, balances held not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency7060-(82/23)610
Borrowed Resources Suspense Accounts6844-(81/75)487
6845-(81/75)488
Framework Administered Account for technical assistance activities10942-(95/33)83
General Account; see General Resources Account, below
General Resources Account:
Adjustment of currency holdings of members5590-(77/163)*383
Exchange rate for Fund computations5590-(77/163)383
Level of Fund SDR holdings, maintenance6275-(79/158) G/S303
7626-(84/23) S309
7941-(85/50) S309
8265-(86/70) S309
8574-(87/64) S310
10278-(93/19)S310
Purchase of SDRs for payment of charge5702-(78/39)* G/S326
Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185) G/TR*637
Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)614
Sales of SDRs for payment of quota increases by members under Seventh General Review of Quotas6663-(80/160) S316
Special Contingent Account, see Special Contingent Account
Special Disbursement Account, transfer of resources to ESAF Trust and retransfer of Special Disbursement Account8760-(87/176)*415
Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR*632
6704-(80/185) TR385
Investment7990-(85/81)385
8029-(85/105)386
Structural adjustment facility; see Structural adjustment facility
Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S605
Subsidy Accounts:
Supplementary financing facility: Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS641
Instrument6683-(80/185) G/TR*631
Investment of currencies6854-(81/78)* SBS638
Means of payments8185-(86/9) SBS/S639
Subsidy payments, July 1, 1983–June 30, 19847754-(84/108) SBS640
Subsidy payments, July 1, 1984–June 30, 19858037-(85/110) SBS640
Subsidy payments, July 1, 1985–June 30, 19868492-(87/1) SBS641
Subsidy payments, July 1, 1986–June 30, 19878674-(87/117) SBS642
Subsidy payments, July 1, 1987–June 30, 19888941-(88/122) SBS643
Subsidy payments, July 1, 1988–June 30, 19899222-(89/97) SBS644
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS639
Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR385
Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
Adjustment process, international, review5392-(77/63)*12
Administered accounts; seeArticle V, Section 2(b), administration of deposits provided by members
Administrative accounts; see Accounts
African Development Bank and African Development Fund, prescription as holders of SDRs8318-(86/104) S581
Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S580
Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S581
Archives of the Fund, opening11192-(96/2)*542
Arrears to the Fund, see Overdue Obligations to Fund
Articles of Agreement*
Amendment, SecondB/G Res. 29-8650
B/G Res. 29-10660
Article 1, purposes of the Fund287-3100
433-(55/42)494
1034-(60/27)499
4377-(74/114)*151
5069-(76/72)614
Article II, Section 2, membership6266-(79/156)4
Article III, Section 2, adjustment of quotas408-23
Article III, Section 2(a), general review of quotasB/G Res. 31-2669
B/G Res. 34-2672
B/G Res. 38-1683
B/G Res. 43-1692
B/G Res. 44-1694
B/G Res. 44-5697
B/G Res. 45-1700
B/G Res. 45-2702
B/G Res. 48-3716
B/G Res. 53-2721
Article IV:
Consultations5392-(77/63)*10
6026-(79/13)*15
6056-(79/38)137
6790-(81/43)515
7427-(83/83)20
10168-(92/127)18
Consultations, bicyclic procedure Termination, see Termination of Bicyclic procedures below
Exchange arrangements5392-(77/63)10
5712-(78/41)8
Press information notices, Release11493-(97/45)27
Publication of Staff Reports11973-(99/58)569
Termination of Bicyclic Consultation procedure10362-(93/67)19
Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)*10
6026-(79/13)*15
Article V, Section 11289-(62/1)*431
Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund1289-(62/1)*428
Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-399
Article V, Section 3(b)(ii), “represents” that a member has a need to make purchases284-4100
Chairman’s

Summing-up

EBM/87/176
61
Article V, Section 3(b)(iii), waiver4377-(74/114)*153
5508-(77/127)298
6783-(81/40)*210
8955-(88/126)*223
Article V, Section 3(d):
Sale of members’ currencies for repurchases5704-(78/39)318
Selection of currencies in purchases6273-(79/158) G/S300
6274-(79/158)301
6352-(79/183)304
6774-(81/35)310
Article V, Section 3(f), transfers of SDRs6275-(79/158) G/S303
Article V, Section 5, limitation on use of Fund’s resources284-3314
286-1314
7842-(84/165)148
Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S316
Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)301
6774-(81/35)310
Article V, Section 7, repurchases1289-(62/1)*428
5703-(78/39)*321
5704-(78/39)317
5809-(78/88)*324
6172-(79/101)319
Article VI, capital transfers1238-(61/43)99
Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)293
5509-(77/127)477
6783-(81/40)*207
Article VII, Section 1, borrowing by Fund1289-(62/1)*423
8897-(88/93)451
6783-(81/40)*207
Article VIII:
Bilateralism433-(55/42)494
Consultations5712-(78/41)9
Retention quotas201-(53/29)496
Article VIII and Article XIV1034-(60/27)499
Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)500
Article VIII, Section 2(a): Payments restrictions144-(52/51)493
3153-(70/95)501
Article VIII, Section 2(b), unenforceability of exchange contracts446-4491
Article VIII, Section 3, multiple currency practices237-2504
649-(57/33)511
6790-(81/43)513
Article VIII, Section 7B/G Res. 34-3738
Article IX, Section 7, privilege for communications534-3543
Article XII, Section 3(b)(i) and 3(f)2-1564
Article XII, Section 3(c):
Additional appointed Executive Directors574-2*564
Determination of member’s entitlement to appoint Executive Director7060-(82/23)611
“The preceding two years,” meaning597-4565
Article XIV:
Articles VIII and XIV1034-(60/27)499
Bilateralism433-(55/42)494
Consultations5392-(77/63)*13
Retention quotas201-(53/29)496
Article XIV, Section 11034-(60/27)500
Article XIV, Section 2:
Multiple currency practices237-2509
Payments restrictions144-(52/51)493
3153-(70/95)102, 501
Transitional arrangements446-4492
Article XIV, Section 3117-1570
Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S577
6484-(80/77) S580
6486-(80/77) S580
7629-(84/125)442
8642-(87/101)S/TR582
8759-(87/176)ESAF*45
8937-(88/118)ESAF583
Article XVIII, allocation of special drawing rightsB/G Res. 24-12734
B/G Res. 34-3736, 744
Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S585
6368-(79/191)S585
Article XIX, Section 2(c):
Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S577
Operations and transactions in special drawing rights between participants6000-(79/1) S*586
6001-(79/1)S*587
6053-(79/34) S*589
6054-(79/34) S*591
6336-(79/178)S593
6337-(79/ 178) S595
6437-(80/37) S595
Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S598
Article XIX, Section 5(a)(i), designation plans6273-(79/158) GS300
Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S602
Article XIX, Section 1(a), calculation of exchange rates1289-(62/1)*430
6001-(79/1)S588
6053-(79/34) S*590
6054-(79/34) S*592
6336-(79/178)S594
7041-(82/8) G/S603
Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S577
Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S606
Article XXIIB/G Res. 34-3738
Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S579
Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)607
Article XXVI, Section 31289-(62/1)*431
Article XXVII1289-(62/1)*431
270-(53/95)*135
Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements270-(53/95)*135
Article XXIX(a), list of interpretations under Article XXX(c):
Exclusion of purchases and holdings under buffer stock facility5591-(77/163)608
Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*608
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)*610
Exclusion of purchases and holdings under extended facility6830-(81/65)609
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)609
Exclusion of purchases under oil facility5371-(77/51)609
Exclusion relating to purchases in credit tranches6830-(81/65)609
Exclusion of purchases and holdings under Systemic Transformation Facility10348-(93/61) STF611
Article XXX(f), freely usable currencies…5719-(78/46)612
Article XXXI, Section 1408-23
Schedule B, repurchases5703-(78/39)*321
5704-(78/39)317
6008-(79/3)485
Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)613
Schedule F, rules for designation6209-(79/124) S599
Schedule G, rules for reconstitution, abrogation6832-(81/65) S602
Schedule J1289-(62/1)*431
Schedule K1289-(62/1)*432
Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S581
Assessments, payment in SDR Department; see Accounts, Special Drawing Rights Department, payment of net charges and assessments
Attribution of reductions in Fund’s holdings of currency6831-(81/65)*324
6774-(81-35)312
Review7704-(84/78)325
Audit:
Enhanced structural adjustment facility trust (ESAF Trust)
8759-(87/176) ESAF*48
Supplementary financing facility Subsidy Account6683-(80/185) G/TR637
Trust Fund5069-(76/72)620
Augmentation; see Purchase transactions, Augmentation
B Balance of payments position:
Assessment for assistance from Trust Fund5069-(76/72)616
Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S300
Discrimination for balance of payments reasons955-(59/45)498
Bank/Fund collaboration: Invitation to send a staff member as an observerEBM/70/30550
Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S581
Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
Bicyclic consultation procedures; see Consultation with members
Bilateral payments arrangements, see Official clearing and payments arrangement
Bilateralism433-(55/42)494
Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below
Borrowing by the Fund
Borrowed Resources Suspense Accounts6844-(81/75)487
6845-(81/75)488
Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)207
General Arrangements to Borrow:1289-(62/1)*423
Associated borrowing arrangements7403-(83/73)443
“Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing9862-(91/156)*490
Renewal11609-(97/112)435
Saudi Arabia, association agreement7403-(83/73)443
Renewal8897-(88/93)451
10235-(92/149)452
11626-(97/122)454
Transferability of claims7629-(84/25)441
Transferability of claims; see Transferability of claims
Use of credit arrangements for non participants1289-(62/1)*433
Guidelines9862-(91/156)489
New Arrangements to Borrow11428-(97/6)455
Effective date of the decision11428-(97/6)459, 473
Nonparticipants11428-(97/6)460
Transferability of claims11429-(97/6)467
Supplementary financing facility:
Authorization to make calls6006-(79/3)485
Interest payment procedure6163-(79/96)486
Meaning of “net creditor position in the Fund”6008-(79/3)485
Replenishment of holdings of currencies5509-(77/127)477
Subsidy Account6683-(80/185) G/TR631
Buffer stock financing facility2772-(69/47)*264
Access limit and review2772-(69/47)*264
Elimination of floating10186-(92/132)265
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)608
International Natural Rubber Agreement, 19797246-(82/147)272
International Natural Rubber Agreement, 19879403-(90/53)274
International Sugar Agreement, 19775597-(77/171)270
International Tin Agreements:
Fourth3179-(70/102)266
Fifth5127-(76/91)267
Sixth7247-(82/147)268
Repurchases5703-(78/39)*321
Sixth International Tin Agreement7247-(82/147)268
1977 International Sugar Agreement5597-(77/171)271
International Natural Rubber Agreement, 19797246-(82/147)272
Burden sharing8348-(86/122)*332
Managing Director’s Remarks337
Extended burden sharing; see Extended burden sharing
Implementation for FY 19898861-(88/67)*341
for FY 19909135-(89/46)345
for FY 199410340-(93/54)*348
for FY 199510706-(94/52)356
10660-(94/38)352
for FY 199610958-(95/40)359
for FY 199711249-(96/39)363
for FY 199811480-(97/42)367
for FY 199911712-(98/49)372
for FY 200011945-(99/49)376
Net income target:
for FY 19898861-(88/67)*342
for FY 199410391-(93/86)351
for FY 199510705-(94/42)355
for FY 199610962-(65/41)362
for FY 199711251-(96/39)366
for FY 199811482-(97/42)370
Principles of “burden sharing”8861-(88/67)*341
Rate of charge:
for FY 19898861-(88/67)*341
for FY 199811482-(97/42)370
Retroactive reduction of rate of charge…10705-(94/52)355
Special Contingent Account, amounts placed
for FY 19878619-(87/90)339
for FY 19888780-(88/12)339
for FY 19898861-(88/67)*342
for FY 19909135-(89/46)345
9471-(90/98)378
for FY 199410340-(93/54)349
for FY 199510660-(94/38)352
10706-(94/52)357
for FY 199610958-(95/40)360
for FY 199711249-(96/39)364
for FY 199911712-(98/49)372
By-Laws, Section 20 audits; see Audits
By-Laws, Section 22, Compulsory Withdrawal: see Section 22
C Capital transfers:
Controls by members541-(56/39)422
Use of Fund’s resources for1238-(61/143)99
B/G Res. IM-6647
Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S581
“Changing circumstances,” adaptation of multiple currency practices237-2510
Charges:
Accounting for charges from members with overdue obligations8433-(86/175)327
Accrued charges8433-(86/175)327
Balances held in Fund’s administrative ac- counts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for calculation7060-(82/23)610
Extended Fund facility4377-(74/114)*153
10464-(93/130)168
Future changes4239-(74/67)326
Interest on Trust Fund loans; see Interest
Media of payment5702-(78/39)* G/S326
Oil facility Subsidy Account; see Accounts,
Subsidy Accounts
Overdue obligations to Fund, special charges8165-(85/189) G/TR328
Overdue obligations to Fund, accrued income8433-(86/175)327
Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S326
Payment of net charges and assessments in Special Drawing Rights Department, procedure when participants fail to hold adequate SDRs or to acquire them from other participants or Fund7116-(82/68) S605
Rate, as of Feb. 1, 19888780-(88/12)339
as of May 1, 199410705-(94/52)355
as of November 1, 199410850-(94/107)356
as of May 1, 199510962-(95/41)362
as of May 1, 199711482-(97/42)*370
as of May 1, 199811711-(98/49)371
Rate, determination of, burden sharing8348-(86/122)*333
Rate on use of Fund resources
for FY 199410391-(93/86)*351
for FY 199610962-(95/41)362
for FY 199811482-(97/42)370
for FY 199911711-(98/49)371
for FY 200011944-(99/49)375
Setoff in connection with retroactive reduction8271-(86/74)331
Special charges on overdue obligations to Fund8165-(85/189) G/TR*328
Elimination after six months or more8165-(85/189) G/TR*329
Trust Fund loans10352-(93/49) G/TR329
Review of system11715-(98/49) G/SAF/TR330
11948-(99/49) G/SAF/TR331
Setoff against charges due for second quarter of FY 19878442-(86/178)332
Stand-by arrangements10464-(93/130)*163
Supplementary financing facility5508-(77/127)298
Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.649
Final report and terminationB/G Res. 29-7650
Support of extended Fund facility4377-(74/114)*151
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)515
Commodities (see also Buffer stock financing facility; Compensatory financing …):
Reclassification where subject to multiple currency practices237-2511
Communications, privilege for534-3543
Compensatory and contingency financing facility, establishment8955-(88/126)*222
Compensatory financing of export fluctuations8955-(88/126)*226
External contingency financing8955-(88/126)*231
Chairman’s Summing up EBM/88/105252
Compensatory financing of fluctuation in the cost of cereal imports8955-(88/126)*235
Compensatory financing of fluctuations in the cost of oil imports8955-(88/126)*241
Transitional and other provisions8955-(88/126)249
Review, Extension of deadline11851-(98/127)251
Compulsory withdrawal, see, Overdue obligations to Fund, Purchases from Fund
Conditionality; see Use of Fund’s resources, Conditionality
“Consistent with the provision of this Agreement,” meaning in Article V, Section 3287-399
Consultation with members:
Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)500
Bicyclic procedures and simplified interim procedures Termination10362-(93/67)19
Bilateral arrangements433-(55/42)494
Changes in members’ exchange arrangements, notification to Fund5712-(78/41)8
Commodity field, attention to policies2772-(69/47)*265
Conduct by Managing Director in interval between Article IV consultations5392-(77/63)14
6026-(79/13)15
Consultations under Article IV5392-(77/63)10
6026-(79/13)15
6056-(79/38)137
6790-(81/43)515
Cycles - Review10168-(92/127)18
Press information notices, Release.11493-(97/45)27
Publication of staff reports11973-(99/58)569
Discussions on use of Fund’s resources.102-(52/11)100
During period of extended arrangement.10464-(93/130)*167,168
During period of stand-by arrangement.10464-(93/130)*162,163
Exchange measures needing approval under Article VIII1034-(60/27)500
Members’ policies in present circumstances4134-(74/4)503
Multiple currency practices237-2504-05
Periodic discussions under Article VIII.1034-(60/27)500
Resumption of purchases under extended arrangements10464-(93/130)*167
Resumption of purchases under stand-by arrangements270-(53/95)*135
10464-(93/130)*162
Retention quotas201-(53/29)496
Special consultations5392-(77/63)14
Whether measure is exchange restriction1034-(60/27)500
Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8) G/S603
Consultations with prescribed holders of special drawing rights6467-(80/71) S578
Contingency mechanism; see Compensatory and contingency financing facility
Contingent credit lines, see, Supplemental Reserve Facility and Contingent Credit Lines
Convertibility:
Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)500
Approval of exchange restrictions1034-(60/27)500
Bilateralism433-(55/42)494
Consultation with Fund1034-(60/27)500-01
Discrimination955-(59/45)498
Multiple currency practices; see Multiple currency practices
Retention quotas201-(53/29)496
Credit tranches; see Tranche policies
Creditworthiness, factor in determining use of Fund’s resources102-(52/11)101
Currencies (see also Borrowing by the Fund; Convertibility; Holdings of the Fund; Investment):
Arrangements for use in operations and transactions of FundB/G Res. 31-2670-71
Composition of special drawing right6631-(80/145) G/S571
Freely usable currencies5719-(78/46)612
11857-(98/130)612
Guidelines for use in operational budgets6772-(81/35) G/S306
10279-(93/19)307
Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S300
6274-(79/158)301
6774-(81/35)310
10279-(93/19)307
10904-(95/13)308
Operational budgets6273-(79/158) G/S300
6772-(81/35) G/S306
Payment of subscriptions6266-(79/156)4
B/G Res. 31-2670
B/G Res. 34-2677
B/G Res. 38-1688
Rates for computations and maintenance of value5590-(77/163)383
Replenishment in connection with supplementary financing facility5509-(77/127)477
Sale by agreement with member with outstanding purchases6274-(79/158)302
6352-(79/183)304
Selection for payment of charges5702-(78/39)* G/S326
Specified by the Fund, use in repurchases5703-(78/39)*323
5809-(78/88)323-24
Subscribed to the Fund, ownership170-33
Currency stabilization fundsEBM/95/86183
D Debt management policies; see External debt management policies
Debt and debt service reduction operations, early repurchase expectations9331-(89/167)*198
Debt and debt service reduction:
Limit for additional resources under stand-by or extended arrangements11877-(98/2)206
Modalities of Fund supportActing Chairman’s Summing-up EBM/94/1204
Avoidance of linking prepayments to commercial banks with early repurchasesChairman’s Summing-up EBM/91/48204
Debt strategy, Fund involvement inChairman’s Summing up EBM/89/61193
Declaration of noncooperation or censureEBM/89/100115
EBM/89/101120
Deferred income; see Overdue obligations to Fund, Deferred income
Designation; see Special drawing rights
Development Committee; see Joint
Ministerial Committee
Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions)955-(59/45)498
Disputes between members, Role of the Fund in settlementEMB/84/9994
Drawings; see Purchase transactions; Use of Fund’s resources
E East African Development Bank, prescription as holder of special drawing rights7582-(83/174) S581
Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S581
Emergency assistance:
Natural disastersChairman’s Remarks EBM/82/16172
Post-conflict countriesEBM/95/82175
Emergency financing mechanismEBM/95/85179
Enemy-occupied, former, members, introduction of multiple currency practices237-2510
Enhanced structural adjustment facility:
Access limits8845-(88/61) ESAF*61
8759-(87/176)ESAF*35
Arrears to the Fund, consequencesActing Chairman’s Remarks EBM/88/12109
Borrowing for loan accounts, consultation with creditors9056-(89/2) ESAF63
Establishment8757-(87/176) SAF/ESAF*411
Extension of commitment and disbursement periods for agreement9116-(89/40) ESAF414
Gold pledge for use of ESAF Trust resources under Right Approach10286-(93/23) ESAF*417
Legal documentationChairman’s Remarks EBM/87/17660
Operational arrangementsChairman’s Summing up EBM/87/17154
Review8757-(87/176) SAF/ESAF412
9114-(89/40) SAF/ESAF412
9487-(90/106) SAF/ESAF*412
9808-(91/114) SAF/ESAF413
10089-(92/94) SAF/ESAF413
Lapse of time procedure11515-(97/59)170
Enhanced Structural Adjustment Facility Trust: Instrument to establish8759-(87/176) ESAF*31
Chairman’s Summing up EBM/87/17154
Access limits8845-(88/61) ESAF*61
Commitment period11395-(96/110)34
Eligible members8240-(86/56)*394
Interest rate on trust loans8846-(88/61) ESAF62
Lending, considered as a member’s official reserves by FundChairman’s Summing up EBM/87/17660
Misreporting and noncomplying disbursements, Corrective action11832-(98/119) ESAF49-51
Reserve Account, Review11409-(97/1) ESAF419
11648-(98/1)ESAF420
11864-(99/1)ESAF420
Transfer to ESAF/HIPC Trust11713-(98/49) ESAF53
11946-(99/49)ESAF54
Special ESAF operations for HIPC and interim ESAF subsidy operations, see, Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations
Transfer and retransfer of resources to and from Special Disbursement Account8760-(87/176)*415
Transfer to ESAF/HIPC Trust11683-(98/27)53
11713-(98/49)ESAF53
11946-(99/49)ESAF54
Trust grants or trust loans under special ESAF operations for HIPC and interim ESAF subsidy operations11434-(97/10)45
Enhanced surveillance:
Midterm review, procedure10365-(93/67)91
Chairman’s Summing Up EBM/93/1592
Procedures for transmittal of staff reports8222-(86/45)87
Chairman’s Summing up EBM/85/13288
Enlarged access, policy on6783-(81/40)*207
Euro Area members, Surveillance over monetary and exchange rate policies, see, Surveillance over exchange rate policies
Euro currency, Freely usable currencies, see, Freely usable currencies
Euro, Representative exchange rate11858-(98/130)G/S603
Euro, Rates for computations and maintenance of value11859-(98/130)383
European Central Bank: Observer Status11875-(99/1)551
European Currency Unit, representative rate in terms of SDR7041-(82/8) G/S603
European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8) G/S603
“Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1570
237-2510
Exchange arrangements, notification5392-(77/63)*11
5712-(78/41)8
Exchange contracts, unenforceability446-4491
Exchange control regulations, Fund prepared oft advise whether maintained or imposed consistently with Fund Agreement446-4492
Exchange controls on capital transfers541-(56/39)422
Exchange of documents with other international agencies, see, Fund documents
Exchange rates:
Borrowing arrangements by Fund1289-(62/1)*430
Exchange rate policies of members, surveillance5392-(77/63)*10
Flexible exchange arrangements5712-(78/41)9
Floating, guidelinesB/G Res. 29-10662
Fluctuating:
Multiple currency practices (fixed and fluctuating rates)237-2506-07
Scope of transactions to be agreed with Fund237-2507
Free markets237-2507
Multiple currency practices arising from official action6790-(81/43)513
Notification to Fund5392-(77/63)*11
5712-(78/41)8
Pegs, notification to Fund of changes.5712-(78/41)8
Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S603
Unification in multiple rate systems, a basic objective of Fund649-(57/33)512
Exchange restrictions (see also Payments restrictions):
Approval1034-(60/27)500
Avoidance of escalation4134-(74/4)503
4254-(74/75)515
Bilateralism433-(55/42)494
Capital transactions; see Capital transfers
Consultations with Fund1034-(60/27)500-01
Discrimination955-(59/45)498
Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)500
Introduction1034-(60/27)499
Maintenance1034-(60/27)500
Multiple currency practices237-2504
649-(57/33)511
6790-(81/43)*513
Payments arrears3153-(70/95)102
Retention quotas201-(53/29)496
Security reasons; see Payments restrictions
Transitional arrangements under
Article XIV, obligations under
Article VIII, Sections 2, 3, and 41034-(60/27)500
Withdrawal, representation by Fund117-1570
Exchange systems, avoidance of use for non- balance of payments reasons1034-(60/27)500
Exchange taxes237-2511
Notification to Fund5712-(78/41)9
Exchange transactions; see Purchase transactions
Exclusion of balances held in administrative accounts; see Accounts, Administrative accounts
Exclusion of purchases and holdings under Fund policies; seeArticle XXX(c)
Executive Board:
Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)*10
6026-(79/13)*15
9499-(90/11)*16
10273-(93/15)*17
Communication of changes in members’ ex- change arrangements5712-(78/41)9
Information on operation of buffer stocks3179-(70/102)266
5127-(76/91)267
5597-(77/171)272
7246-(82/147)274
7247-(82/147)269
Report to Board of Governors on quota increases under General Reviews of Quotas:
SeventhB/G Res. 34-2672
EighthB/G Res. 38-1683
NinthB/G Res. 43-1692
B/G Res. 44-5697
B/G Res. 45-1700
B/G Res. 45-2702
TenthB/G Res. 48-3716
B/G Res. 50-1718
Review and change of rules for designation6209-(79/124) S598
Review of broad developments in exchange rates5392-(77/63)*14
Review of decision on extended Fund facility4377-(74/114)*154
5220-(76/144)154
7558-(83/156)155
7857-(84/175)155
8192-(86/13)156
8583-(87/72)156
9189-(89/77)157
9790-(91/106)157
10723-(94/58)158
Lapse of time procedure11515-(97/59)170
Review of functioning of international adjustment process5392-(77/63)*12
Review of guidelines for borrowing by Fund9862-(91/91)489
Review of level of Fund’s SDR holdings6275-(79/158) G/S303
7626-(84/23) S309
7941-(85/50) S309
8265-(86/70) S309
8574-(87/64) S310
10278-(93/19) S310
Review of prescriptions of holders of special drawing rights6467-(80/71) S578
Review of quota calculation methodB/G Res. 38-1683
Executive Directors:
Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4565
Appointment by members having five largest quotas2-1564
Determination of members entitled to appoint under Article XII, Section 3(c)574-2*564
Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)610
Participation in meetings of Development CommitteeB/G Res. 29-9657
Participation in meetings of Interim CommitteeB/G Res. 29-8651
Voting power, effect of quota changes180-5565
Export shortfalls, financing; see Compensatory and contingency financing facility
Extended arrangements4377-(74/114)*150
Access limits, see Guidelines on access limits below
Amounts to be made available10181-(92/132)211
Augmentation of rights to make purchases, elimination5706-(78/39)150
Charge4377-(74/114)*153
10464-(93/130)*168
Debt and debt-service reduction, see, use of Fund’s resources, Debt and debt-service reduction
Elimination of use under Enlarged Access Policy10181-(92/132)211
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)149, 609
Foreign borrowing, performance criteria6230-(79/140)*142
Form, standard10464-(93/130)*164
Guidelines on access limits10181-(92/132)211
See also, Use of Fund’s Resources,
Guidelines on Access Limits
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility10464-(93/130)*167
Publicity upon declaration7931-(85/41)567
7999-(85/90)567
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)147
EBM/85/26149
Noncomplying purchases; see Misreporting and noncomplying purchases
Operational guidelines; see Performance criteria and phasing, below
Overdue obligations to Fund, purchases from Fund7908-(85/26)107
EBM/84/54108
Performance criteria and phasing, operational guidelines7925-(85/38)*140
Provision for enlarged access to Fund’s resources6783-(81/40)*207
Provision for supplementary financing5508-(77/127)293
Repurchases; see Repurchases
Review of decision on extended Fund facility5220-(76/144)154
7558-(83/156)155
7857-(84/175)155
8192-(86/13)156
8583-(87/72)156
9189-(89/77)157
9790-(91/106)157
10723-(94/58)158
Lapse of time procedure11515-(97/59)170
Suspension of right to engage in purchase transactions10464-(93/130)*167
Extended burden sharing, implementation and modalities of new special Contingent
Account9471-(90/98)*378
Review11714-(98/49)381
11947-(99/49)382
Extended Fund facility; see Extended arrangements
External debt management policies6230-(79/140)143
External contingency financing, see Compensatory and contingency financing facility
F “First credit tranche,” Fund attitude to request for transactions136
Floating rates; see Exchange rates
Fluctuating exchange rates; see Exchange rates
Freely usable currencies5719-(78/46)612
11857-(98/130)612
Free markets; see Exchange rates
Fund documents:
Exchange with other international agenciesA-9786-(93/20)*559
Fund resources, use; see Use of Fund’s resources
Fund’s holdings; see Holdings of the Fund
G General Agreement on Tariffs and Trade1034-(60/27)501
4254-(74/75)517-18
B/G Res. 29-10662
Consultation and cooperation363-1546
General Arrangements to Borrow; see Borrowing by the Fund
General Resources Accounts; see Accounts
Gold:
Modalities of gold pledge for use of ESAF Trust resources under Rights Approach10286-(93/23)*417
Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund5703-(78/39)*322-23
5809-(78/88)323
Sale, amounts available to Trust Fund5069-(76/72)613
Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)614
5709-(78/41) TR625
5832-(78/95) TR625
6540-(80/98) TR629
Sale, transfer of profits to Trust Fund5069-(76/72)613-14
Subscribed to Fund, ownership170-33
Gross reserve position; see Reverse position, gross
H HIPC initiative, see, Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations
Holdings of the Fund:
Adjustment by Fund5590-(77/163)383
Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)312
6831-(81/65)*324
Attribution of reductions to repurchase obligations6831-(81/65)*324
Balances held in administrative accounts not in excess of 0.1 percent of member’s quota, exclusion from Fund’s holdings of member’s currency for certain purposes7060-(82/23)610
Computations and adjustment, rates5590-(77/163)383
Exclusion of holdings resulting from credit tranche purchases6830-(81/65)149, 609
Exclusion under buffer stock facility5591-(77/163)608
Exclusion under compensatory and contingency financing facility8955-(88/126)*608
Exclusion under enlarged access policy6783-(81/40)610
Exclusion under extended Fund facility6830-(81/65)609
Exclusion under oil facility5371-(77/51)609
Exclusion under supplementary financing facility5508-(77/127)609
Exclusion under systemic transformation facility10348-(93/61) STF611
Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
I Immunities and privileges of the Fund, see, United Nations: Convention on Privileges and Immunities
Immunity of archives, see, Archives of the Fund
Import restrictions imposed for balance of payments reasons, GATT members1034-(60/27)501
Income, accrued, see Overdue obligations to Fund, purchases from Fund, Accrued charges and income
Income, Net, see Net Income
Income position, see Burden sharing
Income target, see Burden sharing, net income target
Ineligibility: see Extended arrangements; Stand- by arrangements; Use of Fund’s resources
Interest:
Charge on loans from Trust Fund5069-(76/72)618
Payment on Fund indebtedness under General Arrangements to Borrow1289-(62/1)*427
Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)* G/TR633
Payment under supplementary financing facility5509-(77/127) Annex480
6163-(79/96)486
Payments by members under Trust Fund loan agreements6358-(79/188)628
5069-(76/72)618
Interim Committee of the Board of Governors on the International Monetary System:
EstablishmentB/G Res. 29-8*650
Review of functioning of international adjustment process5392-(77/63) *12
Rules of procedure665
International Bank for Reconstruction and Development; Observer to Fund Board meetingsEBM/70/30550
International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S581
International Development Association, prescription as holder of special drawing rights6718-(81/1) S581
International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S581
International monetary system, reformB/G Comp. Res.649
International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
Interpretation under Articles of Agreementxliv
Investment:
Currencies held in supplementary financing facility Subsidy Account6683-(80/185) G/TR633
6854-(81/78) SBS*638
Currency balances held in Trust Fund5069-(76/72)620
5972-(78/189)623
5973-(78/189)TR624
Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S581
J Japan, Borrowing agreement with Fund; see Borrowing by the Fund
Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries:
EstablishmentB/G Res. 29-9*654
Rules of procedure666
Secretariat function, changes in organization of work and structure667
Joint Vienna Institute10575-(94/4)789
Authorization to extend the Agreement until August 19,200411675-(98/21)799
L Lapse of time procedure, Review under Fund arrangements11515-(97/59)170
M Maintenance of value, adjustment: general policies and procedures relating to arrears to FundActing Chairman’s

Summing up

EBM/88/19
110
Managing Director:
Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)487
6845-(81/75)488
Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)485
Authorized signatories9605-(90/170)566
Consultation by eligible member to request assistance from Trust Fund5069-(76/72)616
Consultation by member before making request under supplementary financing facility5508-(77/127)294
Consultation by member contemplating request under extended Fund facility4377-(74/114)*152
Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)207
Consultation with members when notice of exchange policy change not received5712-(78/41)9
Consultations and proposals to Executive Board concerning sales of currencies at re- quest of members with outstanding purchases6352-(79/183)304
Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)486
Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements.6854-(81/78)* SBS638
Discussions with members judged sufficiently strong whose outstanding purchases are not subject to guidelines on early repurchase with view to reducing their indebtedness to the Fund6774-(81/35)312
Discussions with members on exchange policies5392-(77/63)*14
6026-(79/13)*15
Participation in meetings of Development CommitteeB/G Res. 29-9657
Participation in meetings of Interim CommitteeB/G Res. 29-8652
Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189) TR624
Proposals for allocation of SDRs:
First basic periodB/G Res. 24-12734
Third basic periodB/G Res. 34-3736
Fourth basic period746
Proposals for calls under General Arrangements to Borrow1289-(62/1)*426
Proposals for Trust Fund investments5973-(78/189) TR624
Recommendations to Executive Board regarding approval of use of Fund resources and stand-by arrangements6056-(79/38)138
Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period746
Signatories, authorized, see, Authorized signatories
Military expenditure and role of the FundConcluding

Remarks by

Acting Chairman

EBM/91/138
519
Misreporting and noncomplying purchases, guidelines on corrective action; see Ex- tended or Stand-by arrangements
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Monetary stabilization operations, use of Fund’s resources71-299
B/G Res. IM-6647
Multiple currency practices:
Policy237-2504
649-(57/33)511
6790-(81/43)513
Prior Fund approval5712-(78/41)9
Spreads6790-(81/43)513
N “Net creditor position in the Fund”6008-(79/3)485
Net income, Disposition
for FY 199410704-(94/52)355
for FY 199510957-(95/40)359
for FY 199911943-(99/49)375
New Arrangements to Borrow, see, Borrowing by the Fund
Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S581
O Observer status:
European Central Bank11875-(99/1)551
IBRDEBM/70/30550
WTO11381-(96/105)804, 808
Official clearing and payments arrangements, Temporary exemption from three-month rule10749-(94/67)495
Oil facility:
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)609
Operational budgets:
Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158)
G/S300
Sales of SDRs and use of currencies6772-(81/35) G/S306
Overdue obligations to Fund, purchases from Fund (see also Extended or Stand-by arrangements)7908-(85/26)107
10464-(93/130)*162, 167
Access to enhanced structural adjustment facility (ESAF)Chairman’s Closing Remarks EBM/88/12109
Accrued charges and income8433-(86/175)327
Accounting for overdue charges8433-(86/175)327
Arrears to private creditors, Fund policy on lending, see, Use of Fund’s resources:
Exchange controls and emergence of arrears, Fund policy
Burden sharing; see Burden Sharing
Complaint, period of considerationChairman’s Summing up EBM/85/170108
EBM/90/38121
Compulsory withdrawal343-(54/47)607
EBM/89/100116-17
EBM/89/101121
EBM/90/38122, 127
Declaration of ineligibilityEBM/89/100114
EBM/89/101114
Declaration of noncooperation or censureEBM/89/100115
EBM/89/101120
Deferred income8433-(86/175)327
Letter to GovernorsEBM/89/100117-20
EBM/89/101120-21
Fund policy of lending following emergence of arrears-Chairman’s remarks
EBM/99/64105
Maintenance of value adjustments, policies and proceduresChairman’s

Summing up

EBM/88/19
110
Procedures for dealing with membersEBM/89/101112
Publicity upon declaration of ineligibility7999-(85/90)567
Reporting by Fund7931-(85/41)567
Rights accumulation programs, operational modalities of rights approachChairman’s

Summing up

EBM/90/97
128
EBM/91/42131
EBM/92/58132
EBM/95/29134
Extension of the periodEBM/99/29134
Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)331
Special charges on8165-(85/189)* G/TR328
Setoff against charges due for second quarter of FY 19878442-(86/178)332
Strengthened cooperative strategy, time- table Chairman’s of proceduresStatement

EBM/90/38
121
EBM/92/58132
Overdue payments to Fund; see Overdue obligations to Fund
P Payments arrears3153-(70/95)102
EBM/80/154103-04
Payments policies of members4134-(74/4)503
Payments restrictions; (see also Exchange restrictions; Payments arrears):
For security reasons, Fund jurisdiction144-(52/51)493
Withdrawal or general abandonment117-1570
”Position in the Fund,” definition6274-(79/158)302
6772-(81/35)G/S306
Press information notices, Release following completion of Article IV consultation, see, Article IV consultation
Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)493
Private sector involvement in forestalling and resolving financial crisesActing Chairman’s

Summing Up

EBM/99/64
105
Pri of this Instrument, and, as required, payments see United Nations: Convention on the
Privileges and Immunities
Publication of Article IV Consultation Staff Reports11973-(99/58)569
Publication of Chairman’s Statement on discussion of Use of Fund resources11971-(99/58)568
Publication of information notices for policy matters11972-(99/58)568
Publication of reports, overdue obligations7931-(85/41)567
Publicity on declaration of ineligibility7999-(85/90)567
Publicity upon Suspension of Voting Rights and termination of suspension10305-(93/32)568
Purchase transactions (see also Use of Fund’s resources):
Augmentation of rights to purchase under stand-by and extended arrangements, elimination5706-(78/39)150
Purchase under buffer stock financing facility2772-(69/47)*264
3179-(70/102)266
5127-(76/91)267
5591-(77/163)608
5597-(77/171)270
7246-(82/147)272
7247-(82/147)268
Purchases under compensatory and contingency financing facility8955-(88/126)*222
Purchases under credit tranche; see Tranche policies
Purchases under extended arrangements4377-(74/114)*152
6830-(81/65)149
10464-(93/130)*165
Purchases under stand-by arrangements270-(53/95)*130
10464-(93/130)*160
Purchases under supplementary financing facility5508-(77/127)294-95
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal10464-(93/130)*167
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*135
10464(93/130)162
Suspension, effect on General Arrangements to Borrow1289-(62/1)*431
Suspension of transactions under extended arrangements10464-(93/130)*167
Suspension of transactions under stand-by arrangements270-(53/95)*135
10464-(93/130)*162
Q Quotas:
Adjustment, first interval of five years408-23
Calculation, review of methodB/G Res. 38-1683
Change, effect on voting power of elected Executive Director180-5565
Reviews:
First408-23
Sixth General ReviewB/G Res. 31-2669
Seventh General ReviewB/G Res. 34-2672
Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S316
Eighth General ReviewB/G Res. 38-1683
Ninth General Review
Report of Executive Board to Board of GovernorsB/G Res. 43-1692
B/G Res. 44-5697
B/G Res. 45-1700
B/G Res. 45-2702
Payment of increases in quotas11649-(98/1)711
Period of consent, extension11649-(98/1)711
Tenth General Review
Report of Executive Board to Board of GovernorsB/G Res. 48-3716
Eleventh General Review
Report of Executive Board to Board of GovernorsB/G Res. 53-2721
Special adjustment for members with very small quotasB/G Res. 44-1694
B/G Res. 38-1685
R Rates for official communications of Fund534-3543
Rates of exchange; see Exchange rates; Multiple currency practices
Reconstitution; see Special drawing rights, Reconstitution
Remuneration on net creditor positions, balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency for calculation7060-(82/23)610
Remuneration, rate, burden sharing8348-(86/122)*333
Repayment by Fund of borrowed currency1289-(62/ 1)*428
Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Reporting by the Fund of overdue obligations7931-(85/41)567
Repurchases:
Attribution of reductions in Fund’s holdings of currencies6774-(81/35)312
6831-(81/65)*324
Currency resulting from purchase under credit tranches5703-(78/39)*321
Currency resulting from purchase under extended arrangement10464-(93/130)*168
Currency resulting from purchase under stand-by arrangement.10464-(93/130)163
Early, guidelines5704-(78/39)317
6172-(79/101)319
6273-(79/158) G/S300
Early, expectation, debt and debt service reduction operations; see Debt and debt service reduction operations, early repurchase expectations
Guidelines for selection of currencies6274-(79/158)301
6774-(81/35)310
Obligations to pay gold, payment with SDRs or currencies of other members5703-(78/39)*322
5809-(78/88)323
Of Fund’s holdings102-(52/11)102
Procedures5703-(78/39)*322-23
Under buffer stock financing facility5703-(78/39)*321
Sixth International Tin Agreement7247-(82/147)268
1977 International Sugar Agreement5597-(77/171)271
International Natural Rubber Agreement, 19797246-(82/147)273
Under compensatory and contingency financing facility5703-(78/39)*321
8955-(88/126)*240, 248
Under decision on enlarged access6783-(81/40)209-10
Under extended Fund facility4377-(74/114)*153
Under supplementary financing facility5508-(77/127)297
Reserve assets:
Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
Payment for subscriptions:
Under Eighth General Review of QuotasB/G Res. 38-1688
Under Ninth General Review of QuotasB/G Res. 45-2711
Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)G/S300
Reserve tranche position:
Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)312
6831-(81/65)*324
Review7704-(84/78)325
Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)610
Reserve tranche purchases (see also Use of Fund’s resources):
Exclusion of purchases and holdings in credit tranches6830-(81/65)149, 609
Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)608
Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*222, 608
Exclusion of purchases and holdings under extended facility6830-(81/65)609
Exclusion of purchases and holdings under oil facility5371-(77/51)609
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)610
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)609
Exclusion of purchases and holdings under systemic transformation facility10348-(93/61) STF611
Restrictions; see Exchange restrictions; Payments restrictions
Retention quotas201-(53/29)496
Rights approach or Rights accumulation programs; see Overdue obligations to Fund, purchases from Fund
Rule G-11289-(62/1)431
Rule I-6(4):
Rate of charges8165-(85/189)* G/TR328
8780-(88/12)339
8861-(88/67)341
9135-(89/46)345
9471-(90/98)378
10340-(93/54)348
10348-(93/61)STF292
11249-(96/39)363
11251-(96/39)366
Rule I-10:
Rate of remuneration8348-(86/122)*333
8861-(88/67)*342
9471-(90/98)378
10340-(93/54)349
Rule O-2:
Determination of exchange rate1289-(62/ 1)*430
5590-(77/163)383
6001-(79/1)S588
6053-(79/34) S590
6054-(79/34) S592
6336-(79/178)S594
7041-(82/8) G/S603
Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S576
Rule P-7:
Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S596
Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178)S596
Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S589
Declaration concerning use of special drawing rights in accordance with prescription on pledges6053-(79/34) S*590
Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations6000-(79/1) S*587
Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S594
Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations6054-(79/34) S*592
Rule P-9, record of operations in special drawing rights6000-(79/1)S*587
6001-(79/1)S589
6053-(79/34) S*591
6054-(79/34) S*593
6336-(79/178)S595
6337-(79/178)S596
6437-(80/37) S597
8186-(86/9) SBS/S582
8239-(86/56)SAF583
8937-(88/118) ESAF/S584
Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65)602
Rule T-1, interest and charges in respect of SDRs8759-(87/176)* ESAF47
11251-(96/39)366
S Saudi Arabia, association agreement under General Arrangements to Borrow;
Borrowing by the Fund Transferability of claims7629-(84/25)441
SDDS, see, Special Data Dissemination Standard (SDDS)
Section 22 of By-Laws, compulsory withdrawal.EBM/89/100 and EBM/89/101116, 119
Sovereign arrears, Fund policy of lending into arrearsActing Chairman’ s

Summing Up,

EBM/99/64
105
Special contingent account, establishment8619-(87/90)339
Additions in FY 1988 and disposition of amounts placed in FY 1987 and FY 19888780-(88/12)339
Special Contingent Account (SCA-2)9471-(90/98)* 947378
Special Data Dissemination Standard (SDDS), see Standards for dissemination of economic and financial statistics to the public by member countries and implementation of the SDDS
Special Disbursement Account; see Accounts
Special drawing rights:
Allocation for first basic periodB/G Res. 24-12734
Allocation for third basic periodB/G Res. 34-3736
New participants5956-(78/180) S585
6368-(79/191) S585
Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board746
Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
Annex482
Designation, review of rules and method of calculating amounts6209-(79/124) S598
Holders prescribed by the Fund:
African Development Bank and African Development Fund8318-(86/104) S581
Andean Reserve Fund6486-(80/77) S580
Arab Monetary Fund6609-(80/126) S581
Asian Development Bank7229-(82/136) S581
Bank for International Settlements6484-(80/77) S580
Bank of Central African States7064-(82/26) S581
Central Bank of West African States6908-(81/101) S581
East African Development Bank7582-(83/174) S581
Eastern Caribbean Central Bank7707-(84/79) S581
International Bank for Reconstruction and Development6718-(81/1) S581
International Development Association6718-(81/1) S581
International Fund for Agricultural Development6489-(80/77) S581
Islamic Development Bank7086-(82/42) S581
Nordic Investment Bank6488-(80/77) S581
Swiss National Bank, Termination of status10225-(92/147) S581
Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S577
Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
Loans for Trust Fund expressed in5069-(76/72)618
Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S576
Payment of net charges and assessment in Special Drawing Rights Department; see Special Drawing Rights Department, payment
Payment of subscriptions6266-(79/156)5
Reconstitution, abrogation of rules6832-(81/65) S602
Sale by Fund to members for use in quota payments under Seventh General Review6663-(80/160) S316
Sale by Fund, guidelines6772-(81/35) G/S306
7626-(84/23) S309
7941-(85/50) S309
8265-(86/70) S309
8574-(87/64) S309-10
10278-(93/19) S310
SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR624
Transfers under Article V, Section 3(f)6275-(79/158) G/S303
Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)301
6774-(81/35)310
Use in donations6437-(80/37) S596
Use in financial operations under ESAF Trust or administered account8937-(88/118) ESAF/S583
Use in forward operations6337-(79/178) S595
Use in loans6001-(79/1) S587
Use in operations under structural adjustment facility8239-(86/56) SAF583
Use in payment of charges5702-(78/39)* G/S326
Use in payment of 25 percent of quota increasesB/G Res. 31-2670
B/G Res. 34-2673, 677
B/G Res. 38-1688
B/G Res. 45-2712
Use in payment of subsidy8186-(86/9) SBS/S582
Use in payment of Trust Fund obligations8642-(87/101) S/TR582
Use in pledges6053-(79/34) S*589
Use in repurchases5703-(78/39)322-23
5809-(78/88)323-24
Use in settlement of financial obligations6000-(79/1) S*586
Use in swap operations6336-(79/178) S593
Use in transfers as security for performance of financial obligations6054-(79/34) S591
Valuation basket, guidelines for calculation of currency amount8160-(85/186)G/S574
11803-(98/100)G/S575
Valuation basket, see also valuation method
Valuation for use in borrowing arrangements1289-(62/1)*430
Valuation, interimB/G Res. 29-10663
Valuation method6631-(80/145)G/S571
9549-(90/146)G/S573
11073-(95/92)G/S573-74
Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S576
Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S605
Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
Standards for the dissemination of economic and financial statistics to the public by member countries and implementation of the SDDSEBM/96/36521
Stand-by Arrangements:270-(53/95)*134
Access limits, see Guidelines on access limits below
Augmentation of rights to make purchases, elimination5706-(78/39)150
Charges10464-(93/130)*163
Conditionality, guidelines6056-(79/38)137
Review8192-(86/13)156
8583-(87/72)156
9790-(91/106)157
10723-(94/58)158
Debt and debt service reduction, Limit on set aside amount11877-(98/2)206
Elimination of use under Enlarged Access Policy10181-(92/132)211
Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)609-10
Foreign borrowing, performance criteria6230-(79/140)*142
Form, standard10464-(93/130)*158
Guidelines on access limits10181-(92/132)211
10819-(94/95)212
11098-(95/101)212-13
11374-(96/102)213
11608-(97/112)213-14
11876-(99/2)214
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility270-(53/95)*135
10464-(93/130)*162
Publicity upon declaration of7999-(85/90)567
7931-(85/41)567
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)147
Noncomplying purchases; see Misreporting and noncomplying purchases, above
Operational guidelines; see Performance criteria and phasing, below
Overdue obligations to the Fund, purchases from Fund7908-(85/26)107
EBM/84/54108
Payments arrears, performance criteria3153-(70/95)102-03
Performance criteria and phasing, operational guidelines7925-(85/38)140
Period270-(53/95)*134-35
5508-(77/127)294-95
6783-(81/40)208
Policies and procedures270-(53/95)*134
Provision for enlarged access to Fund’s resources6783-(81/40)207
10181-(92/132)211
Provision for supplementary financing5508-(77/127)294
Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)140
Renewal270-(53/95)*135
Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
Review, Lapse of time procedure11515-(97/59)170
Suspension of right to engage in purchase transactions270-(53/95)*135
10464-(93/130)*162
Strengthened cooperation strategy on overdue obligations to Fund; see Overdue obligations to Fund, purchases from Fund
Structural adjustment facility:
Amounts of assistance8240-(86/56) SAF*394
9809-(91/114) SAF413
10090-(92/24) SAF/ESAF414
Income from investment and loans, availability of use8760-(87/176)415
Interest8238-(86/56) SAF*390
List of eligible members and amounts of assistance8240-(86/56)*394
Loans under ESAF8238-(86/56)* SAF392
Regulations for administration8238-(86/56)* SAF386
Chairman’s

Summing up

EBM/86/56
399
Review of experience, conditionality, benchmarks, and prior actionsChairman’s

Summing Up

EBM/87/93
404
Review of operation8241-(86/56) SAF398
8757-(87/176) SAF/ESAF411
9114-(89/40) SAF/ESAF412
9487-(90/106)* SAF/ESAF412
9808-(91/114) SAF/ESAF413
10089-(92/94) SAF/ESAF413
Lapse of time procedure, see, Stand-by Arrangements
Use of SDRs in Operations8239-(86/56) SAF583
Subscriptions:
Gold and currency, ownership by Fund170-33
Payment of quota increasesB/G Res. 31-2670-71
B/G Res. 34-2678-79
B/G Res. 38-1688
B/G Res. 45-2711
Reserve Assets:
Guidelines for determining amounts to be paid6266-(79/156)4
Payment:
Under Eighth General Review of QuotasB/G Res. 38-1688
Under Ninth General Review of QuotasB/G Res. 45-2711
Subsidy Account; see Accounts, Subsidy Accounts
Sugar Agreement, International; see Buffer stock financing facility
Supplemental Reserve Facility and Contingent Credit Lines:
Contingent Credit Lines11942-(99/48) SRF/CCL279
Summing up by

the Chairman,

EBM/99/48
281
Disposition of net operational income11683-(98/27)288
11716-(98/49)288
11949-(99/49) SRF/CCL288
Establishment11627-(97/123)SRF*276
Review11895-(99/11)SRF281
11942-(99/48) SRF/CCL281
Supplementary financing facility:
Authorization to make calls under borrowing arrangements6006-(79/3)485
Charges; see Charges
Establishment5508-(77/127)293
No augmentation of rights to purchase5706-(78/39)150
Replenishment of Fund’s holdings of currencies5509-(77/127)477
Interest payments under borrowing agreements6163-(79/96)486
Meaning of “Net creditor position in the Fund rdquo;6008-(79/3)485
Repurchases; see Repurchases
Subsidy Account
Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS641
Disbursement of additional subsidy amount for July 1, 1985 through June 30, 19878674-(87/117) SBS642
Additional subsidy payments for May 1, 1987 through June 30, 1987 and for July 1, 1987 through June 30, 19888941-(88/122)SBS643
Instrument6683-(80/185)* TR631
Investment of currencies6854-(81/78)* SBS638
Means of payments8185-(86/9)S/S639
Subsidy payments, July 1, 1984- June 30, 19858037-(85/110) SBS640
Subsidy payments, July 1, 1985- June 30, 19868492-(87/1) SBS641
Subsidy payments, July 1, 1986- June 30, 19878674-(87/117)SBS642
Supplementary financing facility:
Subsidy payments, July 1, 1987- June 30, 19888941-(88/122)SBS643
Subsidy payments, July 1, 1988- June 30, 19899222-(89/97)SBS644
Subsidy payments, May 1-June 30, 1989 and July 1, 1989-June 30, 19909510-(90/122) SBS644
Subsidy payments, May 1-June 30, 1990 and July 1, 1990-June 30, 19919788-(91/105) SBS645
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS639
Transferability of claims; see Transferability of claims
Surveillance over exchange rate policies5392-(77/63)*10
9499-(90/111)*16
Enhanced surveillance; see Enhanced surveillance
Euro Area members11846-(98/125)25
Operational guidance; see Procedures, implementation of three-month period
Procedures, implementation of three-month period7427-(83/83)20
Chairman’s

Remarks

EBM/91/15
21
Review of procedures9499-(90/111)*16
10273-(93/15)17
10949-(95/37)17
11477-(97/38)18
Supplemental surveillance procedures6026-(79/13)*15
Suspension of voting rights, publicity, see Voting rights, suspension, publicity
Systemic transformation facility10348-(93/61)* STF289
Expiration of Period10961-(95/41)293
T Technical assistance activities, Framework administered account10942-(95/33)*83
Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)513
Tin Agreements, International; see Buffer stock financing facility
Trade, Voluntary Declaration4254-(74/75)515
B/G Res. 29-10662
Tranche policies:
Application in connection with decision on enlarged access6783-(81/40)207
Application in connection with supplementary financing facility5508-(77/127)294
Application in connection with buffer stock financing facility10186-(92/132)265
Application in connection with compensatory and contingency financing facility8955-(88/126)*222
Application in connection with systemic transformation facility10348-(93/61) STF289-91
Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)149
Floating, elimination for purpose of determining level of conditionality applied to purchase10186-(92/132)265
Fund attitude to request for transactions within “first credit tranche” and beyond.136
Transferability of claims:
General Arrangements to Borrow1289-(62/1)*430
7628-(84/25)440
Saudi Arabia’s borrowing agreement7629-(84/25)441
Transitional provisions of Article XIV117-1570
1034-(60/27)500
Trust for special ESAF operations for the HIPC and interim ESAF subsidy operations (ESAF/HIPC Trust)11436-(97/10)*64
Chairman’s Summing up EBM/97/1077
Administration of the Trust11436-(97/10)*74
Contributions to the Trust11436-(97/10)*68
Instrument to establish11436-(97/10)*64
Period of operation and liquidation11436-(97/10)*76
Terms and conditions for administration of Account11698-(98/38) ESAF80
Transfer from ESAF Trust11683-(98/29)53
Trust grants and loans11436-(97/10)*68
Trust Fund:
Deposits denominated in SDRs5973-(78/189) TR624
Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)614
5709-(78/41) TR625
5832-(78/95) TR625
6540-(80/98) TR629
Diversification of investments5972-(78/189)623
5973-(78/189) TR624
Eligible members, review of list5563-(77/150) TR622
Final payments of profits and loans for period July 1, 1976-June 30, 19785832-(78/95) TR625
Instrument5069-(76/72)614
Amendment5563-(77/150)TR622
5972-(78/189)623
6793-(81/45)630
Means of payment of interest6358-(79/188)TR*628
Means of repayment by members on their indebtedness under loan agreements7142-(82/85) TR*628
Overdue interest and special charges8165-(85/189)* G/TR328
Elimination after six months or more10352-(93/49) G/TR*329
Repayment terms:
Final loan disbursement6793-(81/45)630
Second period:
Extension6466-(80/68) TR626
6676-(80/168) TR627
Extension of period for qualification6202-(79/121) TR626
Timing of loan disbursements6201-(79/121) TR626
Special charges on overdue interest8165-(85/189) G/TR*329
Termination and transfer of resources to Special Disbursement Account6704-(80/185) TR629
U Unenforceability; see Exchange contracts
United Nations:
Agreement with International Monetary Fund750
Convention on the Privileges and Immunities of the Specialized Agencies757
Application to Fund, Annex V776
List of members which have accepted with respect to Fund777
General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6-8648
United States dollars:
Determination of value in terms of special drawing right pursuant to Rule O-2(b)6709-(80/189) S576
Inclusion in operational budgets6772-(81/35) G/S307
Use for payment of interest and other Fund liabilities6358-(79/188)* TR628
Use for repayments by members on their indebtedness under Trust Fund loan agreements7142-(82/85)* TR628
Use in payments under supplementary financing facility Subsidy Account7754-(84/108) SBS640
Use of Fund’s resources (see also, Borrowing by the Fund; Charges; Extended arrangements; Purchase transactions; Stand-by arrangements):
Access limits, see, Guidelines on access limits below
Access policy, see, Guidelines on access limits below
Application of same policy for stand-by arrangements as for requests for immediate drawings270-(53/95)*135
Arrears to private creditors, Fund policy on lending, see, Exchange controls and emergence of arrears, Fund policy, below
Authority to use resources of Fund, interpretation of Articles of Agreement71-299
Buffer stock financing2772-(69/47)*264
Buffer stock financing facility as applied of 1977 International Sugar Agreement5597-(77/171)270
Buffer stock financing facility as applied to International Tin Agreements:
Fourth3179-(70/102)266
3351-(71/51)266
Fifth5127-(76/91)267
Sixth7247-(82/147)268
Capital transfers1238-(61/43)99
Chairman’s Statement, release, see, Release of Chairman’s Statement, below
Compensatory and contingency financing facility8955-(88/126)*222
Conditionality, guidelines6056-(79/38)137
Review8192-(86/13)155
8583-(87/72)156
9189-(89/77)157
9790-(91/106)157
10723-(94/58)158
“Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-399
Credit tranche policies; see Tranche policies
Debt and debt service reduction:
Limit for additional resources under stand-by and extended arrangements11877-(98/2)206
Limit on set aside amount under stand-by and extended arrangement11877(98/2)206
Enlarged access, policy on6783-(81/40)*207
Exchange controls and emergence of arrears, Fund policyActing Chairman’s

Summing Up,

EBM/99/64
105
Extended Fund facility4377-(74/114)*150
“First credit tranche”136
Floating of facilities, Elimination with respect to first credit tranche conditionality10186-(92/132)265
Guidelines on access limits10181-(92/132)211
Reviews10819-(94/95)212
11098-(95/101)212
11374-(96/102)213
11608-(97/112)213
11876-(99/2)214
In accordance with purposes of Fund102-(52/11)101
Ineligibility:
Effect on purchases under extended arrangement10464-(93/130)*167
Effect on purchases under stand-by arrangement270-(53/95)*135
10464-(93/130)*162
Publicity upon declaration7999-(85/90)567
7931-(85/41)567
Under Article V, Section 5284-3314
Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)607
Interpretation of Articles of Agreement71-299
Limit on access to Fund resources, guidelines.10181-(92/132)211
10819-(94/95)212
11098-(95/101)212
11608-(97/112)213
11876-(99/2)214
Limitation under Article V, Section 5284-3314
286-1314-15
Monetary stabilization operations71-299
Postponement, limitation under Article V, Section 5286-1314-15
Release of Chairman’s Statement on discussion to the public11971-(99/58)568
“Represents” in Article V, Section 3(b)(ii), meaning of the word284-4100
Reserve tranche purchases; see Reserve tranche purchases
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a reques10464-(93/130)*162
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*135-36
Stand-by and extended arrangements, forms, standard10464-(93/130)*158-68
Suspension of exchange transactions, effect on General Arrangements to Borrow1289-(62/1)*431
Suspension of transactions under extended arrangements10464-(93/130)*167
Suspension of transactions under stand-by arrangements270-(53/95)*135
10464-(93/130)*162
Temporary assistance in financing balance of payments deficits71-299
Tranche policies; see Tranche policies
Waiver of condition of Article V, Section 3(b)(iii); see Waiver of condition
Waiver of 200 percent of quota limit see also Article V, Section 3(b)(iii)2772-(69/47)*264
V Vienna Institute:
Agreement for the establishment10575-(94/4)789
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)515
B/G Res. 29-10662
Voting power, elected Executive Directors, effect of change in quota180-5565
Voting rights, suspension, publicity10305-(93/32)568
W Waiver of condition of Article V, Section 3(b)(iii)4377-(74/114)*153
5508-(77/127)279
6783-(81/40)210
8955-(88/126)*223
World Bank, see, Bank
World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)*14
World Trade Organization (WTO):
Agreement between WTO and the IMF806
Fund-WTO Cooperation Agreement11381-(96/105)802
Guidelines/Framework for Fund staff collaboration10968-(95/43)552
Observers to Fund Board meeting11381-(96/105)808

References are to the Articles of Agreement after the Second Amendment, which entered into force April 1, 1978. References to Articles in effect before the Second Amendment are indexed under their corresponding Articles after the Second Amendment.

References are to the Articles of Agreement after the Second Amendment, which entered into force April 1, 1978. References to Articles in effect before the Second Amendment are indexed under their corresponding Articles after the Second Amendment.

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