Buy
- Selected Decisions of the Executive Board and Selected Documents
- Article III: Quotas and Subscriptions
- ARTICLE IV: Exchange Arrangements
- Article V, Section 2(b): Financial and Technical Services
- ARTICLE V, SEC. 3(A), (B), AND (C): Use of Fund's Resources
- Article V, Section 3(d) and (f): Media of Payment
- Article V, Section 5: Ineligibility to Use the Fund’s General Resources
- Article V, Section 6: Sales of SDRs by the Fund
- Article V, Section 7: Repurchases
- Article V, Sections 8 and 9: Charges and Remuneration
- Article V, Sections 10 and 11: Rates for Computations and Maintenance of Value
- Article V, Section 12(f): Special Disbursement Account*
- Article VI, Section 1: Use of Fund’s Resources for Capital Transfers
- Article VI, Section 3: Controls on Capital Transfers
- Article VII: Borrowing
- Article VIII, Section 2(b): Unenforceability of Exchange Contracts
- Article VIII and Article XIV: Payments Restrictions
- Payments Arrears
- Payments Policies
- Multiple Currency Practices
- Voluntary Declaration on Trade and Other Current Account Measures
- Article VIII, Section 5: Furnishing of Information
- Article IX, Section 5: Immunity of Archives
- Article IX, Section 7: Privilege for Communications
- Article X: Relations with Other International Organizations
- Article XII, Section 3: Executive Directors
- Article XII, Section 7: Publication of Reports
- Article XIV: Restrictions on Payments and Transfers: Withdrawal
- Article XV, Section 2: Valuation of the Special Drawing Right
- Article XVII, Section 3: Special Drawing Rights: Other Holders
- Article XVIII, Section 2: Allocation of Special Drawing Rights
- Article XIX, Section 2: Special Drawing Rights: Additional Uses
- Article XIX, Section 5: Designation of Participants to Provide Currency
- Article XIX, Section 6: Reconstitution
- Article XIX, Section 7(a): Exchange Rates
- Article XX, Section 2: Charges
- Article XXVI: Compulsory Withdrawal
- Article XXX(C): Calculation of Reserve Tranche: Exclusion of Purchases and Holdings
- Article XXX(f): Freely Usable Currencies
- General: Trust Fund
- Subsidy Account
- Selected Resolutions of the Board of Governors and Related Documents
- A. Request for Interpretation of the Articles of Agreement as to the Authority of the Fund to Use Its Resources
- B. Resolution of the United Nations General Assembly 377(V) Entitled “Uniting for Peace”
- C. Composite Resolution on the Work of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues and on a Program of Immediate Action
- Interim Committee: Rules of Procedure
- Development Committee: Rules of Procedure
- Development Committee: Changes in the Organization of Work and Structure of the Secretariat Function
- D. Increases in Quotas of Members-Sixth General Review
- E. Increases in Quotas of Fund Members—Seventh General Review
- F. Increases in Quotas of Members—Eighth General Review
- G. Increases in Quotas of Members—Ninth General Review
- H. Increases in Quotas of Members—Ninth General Review
- I. Increases in Quotas of Member—Ninth General Review
- J. Increases in Quotas of Members—Ninth General Review
- K. Increases in Quotas of Fund Members—Ninth General Review
- L. Increases in Quotas of Members—Tenth General Review
- M. Increases in Quotas of Members-Tenth General Review
- N. Allocation of Special Drawing Rights for the First Basic Period
- O. Allocation of Special Drawing Rights for the Third Basic Period
- P. Report of the Managing Director to the Board of Governors and to the Executive Board Pursuant to Article XVIII, Section 4(c)
- Selected Documents Relating to the Fund and Other International Organizations
- A. Agreement Between the United Nations and the International Monetary Fund*
- B. United Nations Convention on the Privileges and Immunities of the Specialized Agencies and Annex V*
- Agreement for the Establishment of the Joint Vienna Institute
Payments Policies
- International Monetary Fund
- Published Date:
- August 1997
Consultations on Members’ Policies in Present Circumstances
1. The Committee on Reform of the International Monetary System and Related Issues on January 18, 1974 reviewed important recent developments and agreed that, in the present difficult circumstances, all members, in managing their international payments, must avoid the adoption of policies which would merely aggravate the problems of other members. Accordingly, the Committee stressed the importance of avoiding competitive depreciation and the escalation of restrictions on trade and payments; and emphasized the importance of pursuing policies that would sustain appropriate levels of economic activity and employment, while minimizing inflation. It was also recognized that recent developments would create serious payments difficulties for many developing countries. The Committee agreed that there should be the closest international cooperation and consultation in pursuit of these objectives.
2. The Executive Directors call on all members to collaborate with the Fund in accordance with Article IV, Section 4(a), * with a view to attaining these objectives. The consultations of the Fund on the policies that members are following in present circumstances will be conducted with a view to the attainment of these objectives.
Decision No. 4134-(74/4)
January 23, 1974
Refers to the Articles of Agreement in effect before the Second Amendment.
