Selected Decisions and Selected Documents of the International Monetary Fund
Chapter

INDEX

Author(s):
International Monetary Fund
Published Date:
September 1996
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(* indicates Decision and Resolution as amended)

Decision

No.
Page
AAccounting 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)474
Borrowed Resources Suspense Accounts6844-(81/75)374
6845-(81/75)374
Framework Administered Account for technical assistance activities10942-(95/33)60
General Account; see General Resources Account, below
General Resources Account:
Adjustment of currency holdings of members5590-(77/163)301
Exchange rate for Fund computations5590-(77/163)301
Level of Fund SDR holdings, maintenance6275-(79/158) G/S237
7626-(84/23) S242
7941-(85/50) S242
8265-(86/70) S242
8574-(87/64) S243
10278-(93/19) S243
Purchase of SDRs for payment of charge5702-(78/39)* G/S258
Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185) G/TR*494
Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)477
Sales of SDRs for payment of quota increases by members under Seventh General Review of Quotas6663-(80/160) S249
Special Contingent Account, see Special Contingent Account
Special Disbursement Account, transfer to Special Disbursement Account8760-(87/176)*329
Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR*494
6704-(80/185) TR492
Investment7990-(85/81)303
8029-(85/105)304
Structural adjustment facility; see Structural adjustment facility
Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S469
Subsidy Accounts:
Supplementary financing facility:
Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS503
Instrument6683-(80/185) G/TR*494
Investment of currencies6854-(81/78)* SBS500
Means of payments8185-(86/9) SBS/S501
Subsidy payments, July 1, 1983-June 30, 19847754-(84/108) SBS501
Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS502
Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS502
Subsidy payments, July 1, 1986-June 30, 19878674-(87/117) SBS504
Subsidy payments, July 1, 1987-June 30, 19888941-(88/122) SBS504
Subsidy payments, July 1, 1988-June 30, 19899222-(89/97) SBS505
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS501
Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR492
Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
Adjustment process, international, review5392-(77/63)*10-11
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) S447
Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S447
Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S447
Archives of the Fund, opening11192-(96/2)418
Arrears to the Fund, see Overdue Obligations to Fund
Articles of Agreement*
Amendment, SecondB/G Res. 29-8512,513
B/G Res. 29-10512,522
Article 1, purposes of the Fund287-364
433-(55/42)380
1034-(60/27)385
4377-(74/114)*111
5069-(76/72)478
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. 31-2531
B/G Res. 34-2534
B/G Res. 38-1545
B/G Res. 43-1554
B/G Res. 44-1556
B/G Res. 44-5559
B/G Res. 45-1563
B/G Res. 45-2565
B/G Res. 48-3578
Article IV:
Consultations5392-(77/63)*8-9
6026-(79/13)*13
6056-(79/38)97
6790-(81/43)400
7427-(83/83)18
10168-(92/127)16
Consultations, bicyclic procedure Termination, see Termination of Bicyclic procedures below
Exchange arrangements5392-(77/63)9
5712-(78/41)7
Termination of Bicyclic Consultation procedure10362-(93/67)17
Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)*9-13
6026-(79/13)*13
Article V, Section 11289-(62/1)*343
Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund1289-(62/1)*340
Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-364
Article V, Section 3(b)(ii), “represents” that a member has a need to make purchases284-465
Chairman’s Summing-up EBM/87/17647
Article V, Section 3(b)(iii), waiver4377-(74/114)*113
5508-(77/127)232
6783-(81/40)*218
8955-(88/126)*161
Article V, Section 3(d):
Sale of members’ currencies for repurchases5704-(78/39)251
Selection of currencies in purchases6273-(79/158) G/S234
6274-(79/158)235
6352-(79/183)238
6774-(81/35)243
Article V, Section 3(f), transfers of SDRs6275-(79/158) G/S237
Article V, Section 5, limitation on use of Fund’s resources284-3247
286-1247
7842-(84/165)109
Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S249
Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)235
6774-(81/35)243
Article V, Section 7, repurchases1289-(62/1)*340
5703-(78/39)*254
5704-(78/39)250
5809-(78/88)*256
6172-(79/101)251
Article VI, capital transfers1238-(61/43)64
Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)228
5509-(77/127)364
6783-(81/40)*215
Article VII, Section 1, borrowing by Fund1289-(62/1)*336
8897-(88/93)361
6783-(81/40)*215
Article VIII:
Bilateralism433-(55/42)380
Consultations5712-(78/41)8
Retention quotas201-(53/29)382
Article VIII and Article XIV1034-(60/27)385
Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)386
Article VIII, Section 2(a): Payments restrictions144-(52/51)379
3153-(70/95)387
Article VIII, Section 2(b), unenforceability of exchange contracts446-4377
Article VIII, Section 3, multiple currency practices237-2394
649-(57/33)397
6790-(81/43)400
Article VIII, Section 7B/G Res. 34-3587
Article IX, Section 7, privilege for communications534-3419
Article XII, Section 3(b)(i) and 3(f)2-1434
Article XII, Section 3(c):
Additional appointed Executive Directors574-2*434
Determination of member’s entitlement to appoint Executive Director7060-(82/23)475
“The preceding two years,” meaning597-4435
Article XIV:
Articles VIII and XIV1034-(60/27)385
Bilateralism433-(55/42)380
Consultations5392-(77/63)12
Retention quotas201-(53/29)382
Article XIV, Section 11034-(60/27)386
Article XIV, Section 2:
Multiple currency practices237-2395
Payments restrictions144-(52/51)379
3153-(70/95)387
Transitional arrangements446-4378
Article XIV, Section 3117-1438
Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S444
6484-(80/77) S446
6486-(80/77) S447
7629-(84125)353
8642-(87/101)S/TR448
8759-(87/176)ESAF*35
8937-(88/118)ESAF449
Article XVIII, allocation of special drawing rightsB/G Res. 24-12583
B/G Res. 34-3592
Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S451
6368-(79/191) S451
Article XIX, Section 2(c):
Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S444
Operations and transactions in special drawing rights between participants6000-(79/1) S*452
6001-(79/1) S*453
6053-(79/34) S*455
6054-(79/34) S*457
6336-(79/178) S459
6337-(79/178) S460
6437-(80/37) S461
Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S463
Article XIX, Section 5(a)(i), designation plans6273-(79/158) GS234
Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S467
Article XIX, Section 7(a), calculation of exchange rates1289-(62/1)*343
6001-(79/1) S453
6053-(79/34) S*455
6054-(79/34) S*457
6336-(79/178) S459
7041-(82/8) G/S468
Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S444
Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S470
Article XXIIB/G Res. 34-3587
Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S446
Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)471
Article XXVI, Section 31289-(62/1)*344
Article XXVII1289-(62/1)*344
270-(53/95)*96
Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements270-(53/95)*96
Article XXIX(a), list of interpretations under Article XXX(c):xxxix
Exclusion of purchases and holdings under buffer stock facility5591-(77/163)472
Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*472
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)*474
Exclusion of purchases and holdings under extended facility6830-(81/65)474
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)473
Exclusion of purchases under oil facility5371-(77/51)473
Exclusion relating to purchases in credit tranches6830-(81/65)474
Exclusion of purchases and holdings under Systemic Transformation Facility10348-(93/61) STF475
Article XXX(f), freely usable currencies5719-(78/46)476
Article XXXI, Section 1408-23
Schedule B, repurchases5703-(78/39)*255
5704-(78/39)251
6008-(79/3)372
Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)477
Schedule F, rules for designation6209-(79/124) S464
Schedule G, rules for reconstitution, abrogation6832-(81/65) S467
Schedule J1289-(62/1)*344
Schedule K1289-(62/1)*344
Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S447
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)*256
6774-(81-35)245
Review7704-(84/78)257
Audit:
Enhanced structural adjustment facility trust (ESAF Trust)8759-(87/176) ESAF38
Supplementary financing facility Subsidy Account6683-(80/185) G/TR499
Trust Fund5069-(76/72)483
Augmentation; see Purchase transactions, Augmentation
BBalance of payments position:
Assessment for assistance from Trust Fund5069-(76/72)480
Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S234
Discrimination for balance of payments reasons955-(59/45)384
Bank/Fund collaboration:
Invitation to send a staff member as an observerEBM/70/30425
Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S447
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)380
Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below
Borrowing by the Fund
Borrowed Resources Suspense Accounts6844-(81/75)374
6845-(81/75)375
Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)215
General Arrangements to Borrow:1289-(62/1)*336
Associated borrowing arrangements7403-(83/73)354
“Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing9862-(91/156)*376
Renewal,10176-(92/129)347
Saudi Arabia, association agreement7403-(83/73)354
Renewal8897-(88/93)361
10235-(92/149)363
Transferability of claims7629-(84/25)352
Transferability of claims; see Transferability of claims
Use of credit arrangements for nonparticipants1289-(62/1)*345
Guidelines9862-(91/156)375
Supplementary financing facility:
Authorization to make calls6006-(79/3)371
Interest payment procedure6163-(79/96)372
Meaning of “net creditor position in the Fund”6008-(79/3)372
Replenishment of holdings of currencies5509-(77/127)364
Subsidy Account6683-(80/185) G/TR494
Buffer stock financing facility2772-(69/47)*199
Access limit and review2772-(69/47)*200
Elimination of floating10186-(92/132)200
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)472
International Natural Rubber Agreement, 19797246-(82/147)207
International Natural Rubber Agreement, 19879403-(90/53)209
International Sugar Agreement, 19775597-(77/171)205
International Tin Agreements:
Fourth3179-(70/102)201
Fifth5127-(76/91)202
Sixth7247-(82/147)203
Repurchases5703-(78/39)*254
Sixth International Tin Agreement7247-(82/147)204
1977 International Sugar Agreement5597-(77/171)206
International Natural Rubber Agreement, 19797246-(82/147)208
Burden sharing8348-(86/122)*263
Managing Director’s Remarks268
Extended burden sharing; see Extended burden sharing
Implementation for FY 19898861-(88/67)272
for FY 19909135-(89/46)276
for FY 199410340-(93/54)*279
for FY 199510706-(94/52)287
10660-(94/38)283
for FY 199610958-(95/40)290
for FY 199711249-(96/39)294
Net income target:
for FY 19898861-(88/67)273
for FY 199410704-(94/42)285
for FY 199510705-(94/42)286
for FY 199610962-(65/41)293
for FY 199711251-(96/39)296
Principles of “burden sharing”8861-(88/67)272
Rate of charge:
for FY 19898861-(88/67)272
Retroactive reduction of rate of charge10705-(94/52)286
Special Contingent Account, amounts placed
for FY 19878619-(87/90)270
for FY 19888780-(88/12)270
for FY 19898861-(88/67)273
for FY 19909135-(89/46)276
9471-(90/98)297
for FY 199410340-(93/54)280
for FY 199510660-(94/38)283
10706-(94/52)288
for FY 199610958-(95/40)291
By-Laws, Section 20 audits; see Audits
By-Laws, Section 22, Compulsory Withdrawal: see Section 22
CCapital transfers:
Controls by members541-(56/39)335
B/G Res. 29-10524
Restrictions237-2392
Use of Fund’s resources for1238-(61/143)64
B/G Res. IM-6510
Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S447
“Changing circumstances,” adaptation of multiple currency practices237-2396
Charges:
Accounting for charges from members with overdue obligations8433-(86/175)259
Accrued charges8433-(86/175)259
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 calculation7060-(82/23)474
Extended Fund facility4377-(74/114)*110
10464-(93/130)123
Future changes4239-(74/67)258
Interest on Trust Fund loans; see Interest
Media of payment5702-(78/39)*G/S258
Oil facility Subsidy Account; see Accounts, Subsidy Accounts
Overdue obligations to Fund, special charges8165-(85/189) G/TR259
Overdue obligations to Fund, accrued income8433-(86/175)259
Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S258
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)S469
Rate, as of Feb. 1, 19888780-(88/12)271
as of May 1, 199410705-(94/52)286
as of November 1, 199410850-(94/107)286
as of May 1, 199510962-(95/41)293
Rate, determination of, burden sharing8348-(86/122)*264
Rate on use of ordinary resources for FY 199410391-(93/86)*282
Setoff in connection with retroactive reduction8271-(86/74)262
Special charges on overdue obligations to Fund8165-(85/189) G/TR*259
Elimination after six months or more8165-(85/189) G/TR*261
Trust Fund loans10352-(93/49) G/TR261
Setoff against charges due for second quarter of FY 19878442-(86/178)263
Stand-by arrangements10464-(93/130)*122
Supplementary financing facility5508-(77/127)232
Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.512
Final report and terminationB/G Res. 29-7513
Support of extended Fund facility4377-(74/114)*111
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)401
Commodities (see also Buffer stock financing facility; Compensatory financing…):
Reclassification where subject to multiple currency practices237-2394
Communications, privilege for534-3419
Compensatory and contingency financing facility, establishment8955-(88/126)*160
Compensatory financing of export fluctuations8955-(88/126)*164
External contingency financing8955-(88/126)*168
Chairman’s Summing up EBM/88/105188
Compensatory financing of fluctuation in the cost of cereal imports8955-(88/126)*172
Compensatory financing of fluctuations in the cost of oil imports8955-(88/126)*178
Transitional and other provisions8955-(88/126)186
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 3287-364
Consultation with members:
Before accepting obligations of Article VIII, Sections 2, 3, and 41034-60/27)385
Bicyclic procedures and simplified interim procedures
Termination10362-(93/67)17
Bilateral arrangements433-(55/42)380
Changes in members’ exchange arrangements, notification to Fund5712-(78/41)7
Commodity field, attention to policies2772-(69/47)*200
Conduct by Managing Director in interval between Article IV consultations5392-(77/63)13
6026-(79/13)14
Consultations under Article IV5392-(77/63)12
6026-(79/13)14
6056-(79/38)98
6790-(81/43)400
Cycles - Review10168-(92/127)16
Discussions on use of Fund’s resources102-(52/11)65
During period of extended arrangement10464-(93/130)*126
During period of stand-by arrangement10464-(93/130)*122
Exchange measures needing approval under Article VIII1034-(60/27)386
Members’ policies in present circumstances4134-(74/4)389
Multiple currency practices237-2390
Periodic discussions under Article VIII1034-(60/27)386
Resumption of purchases under extended arrangements10464-(93/130)*126
Resumption of purchases under stand-by arrangements270-(53/95)*96
10464-(93/130)*122
Retention quotas201-(53/29)382
Special consultations5392-(77/63)12
Whether measure is exchange restriction1034-(60/27)386
Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8) G/S468
Consultations with prescribed holders of special drawing rights6467-(80/71)S445
Contingency mechanism; see Compensatory and contingency financing facility
Convertibility:
Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)386
Approval of exchange restrictions1034-(60/27)386
Bilateralism433-(55/42)380
Consultation with Fund1034-(60/27)386
Discrimination955-(59/45)384
Multiple currency practices; see Multiple currency practices
Retention quotas201-(53/29)382
Credit tranches; see Tranche policies
Creditworthiness, factor in determining use of Fund’s resources102-(52/11)66
Currencies (see also Borrowing by the Fund; Convertibility; Holdings of the Fund; Investment):
Arrangements for use in operations and transactions of FundB/G Res. 31-2532
Composition of special drawing right6631-(80/145)G/S439
Freely usable currencies5719-(78/46)476
Guidelines for use in operational budgets6772-(81/35) G/S239
10279-(93/19)240
Guidelines for use in operations and transactions of General Resources Account6273-(79/158)G/S234
6274-(79/158)235
6774-(81/35)243
10279-(93/19)240
10904-(95/13)242
Operational budgets6273-(79/158)G/S235
6772-(81/35) G/S240
Payment of subscriptions6266-(79/156)4
B/G Res. 31-2532
B/G Res. 34-2539
B/G Res. 38-1547
Rates for computations and maintenance of value5590-(77/163)301
Replenishment in connection with supplementary financing facility5509-(77/127)364
Sale by agreement with member with outstanding purchases6274-(79/158)235
6352-(79/183)237
Selection for payment of charges5702-(78/39) G/S258
Specified by the Fund, use in repurchases5703-(78/39)*255
5809-(78/88)256
Subscribed to the Fund, ownership170-33
Currency stabilization fundsEBM/95/86140
DDebt management policies; see External debt management policies
Debt and debt service reduction operations, early repurchase expectations9331-(89/167)*152
Debt and debt service reduction, Modalities of Fund supportActing Chairman’s Summing-up EBM/94/1158
Avoidance of linking prepayments to commercial banks with early repurchasesChairman’s Summing-up EBM/91/48158
Debt strategy, Fund involvement inChairman’s Summing up EBM/89/61147
Declaration of noncooperation or censureEBM/89/10078
EBM/89/10178
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)384
Disputes between members, Role of the Fund in settlementEMB/84/9956
Drawings; see Purchase transactions; Use of Fund’s resources
EEast African Development Bank, prescription as holder of special drawing rights7582-(83/174) S447
Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S447
Emergency assistance:
Natural disastersChairman’s Remarks EBM/82/16129
Post-conflict countriesEBM/95/82132
Emergency financing mechanismEBM/95/85135
Enemy-occupied, former, members, introduction of multiple currency practices237-2396
Enhanced structural adjustment facility:
Access limits8845-(88/61) ESAF*47
8759-(87/176)
ESAF*26
Arrears to the Fund, consequencesActing Chairman’s Remarks EBM/88/1272
Borrowing for loan accounts, consultation with creditors9056-(89/2) ESAF49
Establishment8757-(87/176) SAF/ESAF325
Extension of commitment and disbursement periods for agreement9116-(89/40) ESAF328
Gold pledge for use of ESAF Trust resources under Right Approach10286-(93/23) ESAF*331
Legal documentationChairman’s Remarks EBM/87/17647
Operational arrangementsChairman’s Summing up EBM/87/17140
Review8757-(87/176) SAF/ESAF326
9114-(89/40) SAF/ESAF326
9487-(90/106) SAF/ESAF326
9808-(91/114) SAF/ESAF327
10089-(92/94) SAF/ESAF327
Enhanced Structural Adjustment Facility Trust:
Instrument to establish8759-(87/176) ESAF*23
Chairman’s Summing up EBM/87/17140
Access limits8845-(88/61)ESAF*47
Interest rate on trust loans8846-(88/61)ESAF48
Lending, considered as a member’s official reserves by FundChairman’s Summing up EBM/87/17647
Transfer and retransfer of resources to and from Special Disbursement Account8760-(87/176)*329
Enhanced surveillance
Midterm review, procedure10365-(93/67)53
Chairman’s Summing Up EBM/93/1554
Procedures for transmittal of staff reports8222-(86/45)49
Chairman’s Summing up EBM/85/132*50
Enlarged access, policy on6783-(81/40)215
European Currency Unit, representative rate in terms of SDR7041-(82/8) G/S468
European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8) G/S468
“Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1438
237-2395
Exchange arrangements, notification5392-(77/63)*12
5712-(78/41)7
Exchange contracts, unenforceability446-4377
Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4378
Exchange controls on capital transfers541-(56/39)335
Exchange rates:
Borrowing arrangements by Fund1289-(62/1)*342
Exchange rate policies of members, surveillance5392-(77/63)*8
Flexible exchange arrangements5712-(78/41)8
Floating, guidelinesB/G Res. 29-10524
Fluctuating:
Multiple currency practices (fixed and fluctuating rates)237-2393
Scope of transactions to be agreed with Fund237-2362
Free markets237-2362
Multiple currency practices arising from official action6790-(81/43)399
Notification to Fund5392-(77/63)*12
5712-(78/41)7
Pegs, notification to Fund of changes5712-(78/41)7
Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S468
Unification in multiple rate systems, a basic objective of Fund649-(57/33)397
Exchange restrictions (see also Payments restrictions):
Approval1034-(60/27)386
Avoidance of escalation4134-(74/4)389
4254-(74175)401
Bilateralism433-(55/42)380
Capital transactions; see Capital transfers
Consultations with Fund1034-(60/27)386
Discrimination955-(59/45)384
Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)385
Introduction1034-(60/27)385
Maintenance1034-(60/27)386
Multiple currency practices237-2390
649-(57/33)397
6790-(81/43)398
Payments arrears3153-(70/95)67
Retention quotas201-(53/29)382
Security reasons; see Payments restrictions
Transitional arrangements under
Article XIV, obligations under
Article VIII, Sections 2, 3, and 41034-(60/27)386
Withdrawal, representation by Fund117-1438
Exchange systems, avoidance of use for non-balance of payments reasons1034-(60/27)386
Exchange taxes237-2397
Notification to Fund5712-(78/41)8
Exchange transactions; see Purchase transactions
Exclusion of balances held in administrative accounts; see Accounts, Administrative accounts
Exclusion of purchases and holdings under Fund policies; see Article XXX (c)
Executive Board:
Annual review of implementation of surveillance over members’ exchange rate policies5392-(77/63)*12
6026-(79/13)*14
9499-(90/11)*15
10273-(93/15)15
Communication of changes in members’ exchange arrangements5712-(78/41)7
Information on operation of buffer stocks3179-(70/102)201
5127-(76/91)203
5597-(77/171)207
7246-(82/147)209
7247-(82/147)205
Report to Board of Governors on quota increases under General Reviews of Quotas:
SeventhB/G Res. 34-2534
EighthB/G Res. 38-1545
NinthB/G Res. 43-1554
B/G Res. 44-5559
B/G Res. 45-1563
B/G Res. 45-2565
TenthB/G Res. 48-3578
B/G Res. 50-1580
Review and change of rules for designation6209-(79/124) S463
Review of broad developments in exchange rates5392-(77/63)*12
Review of decision on extended Fund facility4377-(74/114)*114
5220-(76/144)114
7558-(83/156)115
7857-(84/175)115
8192-(86/13)115
8583-(87/72)116
9189-(89/77)117
9790-(91/106)117
10723-(94/58)118
Review of functioning of international adjustment process5392-(77/63)*11
Review of guidelines for borrowing by Fund9862-(91/91)376
Review of level of Fund’s SDR holdings6275-(79/158)G/S237
7626-(84/23) S242
7941-(85/50) S242
8265-(86/70) S243
8574-(87/64) S243
10278-(93/19)S243
Review of prescriptions of holders of special drawing rights6467-(80/71) S445
Review of quota calculation methodB/G Res. 38-1545
Executive Directors:
Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4435
Appointment by members having five largest quotas2-1434
Determination of members entitled to appoint under Article XII, Section 3(c)574-2*434
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)475
Participation in meetings of Development CommitteeB/G Res. 29-9520
Participation in meetings of Interim CommitteeB/G Res. 29-8514
Voting power, effect of quota changes180-5435
Export shortfalls, financing; see Compensatory and contingency financing facility
Extended arrangements4377-(74/114)*110
Access limits, see Guidelines on access limits below
Amounts to be made available10181-(92/132)219
Augmentation of rights to make purchases, elimination5706-(78/39)110
Charge4377-(74/114)*114
10464-(93/130)*127
Elimination of use under Enlarged Access Policy10181-(92/132)219
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)109
Foreign borrowing, performance criteria6230-(79/140)*103
Form, standard10464-(93/130)*123
Guidelines on access limits10181-(92/132)219
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility10464-(93/130)*126
Publicity upon declaration7931-(85/41)436
7999-(85/90)436
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)107
EBM/85/26109
Noncomplying purchases; see Misreporting and noncomplying purchases
Operational guidelines; see Performance criteria and phasing, below
Overdue obligations to Fund, purchases from Fund7908-(85/26)70
EBM/84/5470
Performance criteria and phasing, operational guidelines7925-(85/38)*100
Provision for enlarged access to Fund’s resources6783-(81/40)*215
Provision for supplementary financing5508-(77/127)227
Repurchases; see Repurchases
Review of decision on extended Fund facility
5220-(76/144)114
7558-(83/156)115
7857-(84/175)115
8192-(86/13)116
8583-(87/72)116
9189-(89/77)117
9790-(91/106)117
10723-(94/58)118
Suspension of right to engage in purchase transactions10464-(93/130)*126
Extended burden sharing, implementation and modalities of new special Contingent Account9471-(90/98)*297
Extended Fund facility; see Extended arrangements
External debt management policies6230-(79/140)103
External contingency financing, see Compensatory and contingency financing facility
F“First credit tranche,” Fund attitude to request for transactions97
Floating rates; see Exchange rates
Fluctuating exchange rates; see Exchange rates Freely usable currencies5719-(78/46)476
Free markets; see Exchange rates
Fund resources, use; see Use of Fund’s resources Fund’s holdings; see Holdings of the Fund
GGeneral Agreement on Tariffs and Trade1034-(60/27)387
4254-(74/75)402
B/G Res. 29-10525
Consultation and cooperation363-1421
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)*331
Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund5703-(78/39)*255
5809-(78/88)256
Sale, amounts available to Trust Fund5069-(76/72)478
Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)478
5709-(78/41) TR488
5832-(78/95) TR488
6540-(80/98) TR491
Sale, transfer of profits to Trust Fund5069-(76/72)477
Subscribed to Fund, ownership170-33
Gross reserve position; see Reverse position, gross
HHoldings of the Fund:
Adjustment by Fund5590-(77/163)301
Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)245
6831-(81/65)*256
Attribution of reductions to repurchase obligations6831-(81/65)*256
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)474
Computations and adjustment, rates5590-(77/163)301
Exclusion of holdings resulting from credit tranche purchases6830-(81/65)473
Exclusion under buffer stock facility5591-(77/163)472
Exclusion under compensatory and contingency financing facility8955-(88/126)*472
Exclusion under enlarged access policy6783-(81/40)474
Exclusion under extended Fund facility6830-(81/65)473
Exclusion under oil facility5371-(77/51)473
Exclusion under supplementary financing facility5508-(77/127)473
Exclusion under systemic transformation facility10348-(93/61) STF475
Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Repurchases; see Repurchases
IImport restrictions imposed for balance of payments reasons, GATT members1034-(60/27)387
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)482
Payment on Fund indebtedness under General Arrangements to Borrow1289-(62/1)*340
Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)* G/TR495
Payment under supplementary financing facility5509-(77/127)
Annex367
6163-(79/96)372
Payments by members under Trust Fund loan agreements6358-(79/188)490
5069-(76/72)482
Interim Committee of the Board of Governors on the International Monetary System:
EstablishmentB/G Res. 29-8*513
Review of functioning of international adjustment process5392-(77/63)*11
Rules of procedure527
International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S447
International Development Association, prescription as holder of special drawing rights6718-(81/1) S447
International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S447
International monetary system, reformB/G Comp. Res.512
International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
Interpretation of Articles of Agreementxxxix
Investment:
Currencies held in supplementary financing facility Subsidy Account6683-(80/185) G/TR496
6854-(81/78) SBS*500
Currency balances held in Trust Fund5069-(76/72)484
5972-(78/189)486
5973-(78/189) TR487
Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S447
JJapan, 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*517
Rules of procedure528
Secretariat function, changes in organization of work and structure529
Joint Vienna Institute10575-(94/4)629
MMaintenance of value, adjustment: general policies and procedures relating to arrears to FundActing Chairman’s Summing up EBM/88/1973
Managing Director:
Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)374
6845-(81/75)374
Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)371
Consultation by eligible member to request assistance from Trust Fund5069-(76/72)479
Consultation by member before making request under supplementary financing facility5508-(77/127)228
Consultation by member contemplating request under extended Fund facility4377-(74/114)*112
Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)215
Consultation with members when notice of exchange policy change not received5712-(78/41)8
Consultations and proposals to Executive Board concerning sales of currencies at request of members with outstanding purchases6352-(79/183)238
Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)372
Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements6854-(81/78)*SBS500
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)245
Discussions with members on exchange policies5392-(77/63)*13
6026-(79/13)*14
Participation in meetings of Development CommitteeB/G Res. 29-9520
Participation in meetings of Interim CommitteeB/G Res. 29-8515
Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189) TR487
Proposals for allocation of SDRs:
First basic periodB/G Res. 24-12583
Third basic periodB/G Res. 34-3585
Fourth basic period594
Proposals for calls under General Arrangements to Borrow1289-(62/1)*338
Proposals for Trust Fund investments5973-(78/189) TR487
Recommendations to Executive Board regarding approval of use of Fund resources and stand-by arrangements6056-(79/38)99
Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period594
Military expenditure and role of the FundConcluding Remarks by Acting Chairman EBM/91/138404
Misreporting and noncomplying purchases, guidelines on corrective action; see Extended 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 resources71-264
B/G Res. IM-6510
Multiple currency practices:
Policy237-2390
649-(57/33)397
6790-(81/43)398
Prior Fund approval5712-(78/41)8
Spreads6790-(81/43)399
N“Net creditor position in the Fund”6008-(79/3)372
Net income, Disposition
for FY 199410704-(94/52)285
for FY 199510957-(95/40)290
Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S447
OOfficial clearing and payments arrangements, Temporary exemption from three-month rule10749-(94/67)381
Oil facility:
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase“5371-(77/51)473
Operational budgets:
Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158) G/S234
Sales of SDRs and use of currencies6772-(81/35) G/S239
Overdue obligations to Fund, purchases from Fund (see also Extended or Stand-by arrangements)7908-(85/26)70
10464-(93/130)*122,126
Access to enhanced structural adjustment facility (ESAF)Chairman’s Closing Remarks
EBM/88/1272
Accrued charges and income8433-(86/175)259
Accounting for overdue charges8433-(86/175)259
Burden sharing; see Burden Sharing
Complaint, period of considerationChairman’s Summing up
EBM/85/17071
EBM/90/3883
Compulsory withdrawal343-(54/47)471
EBM/89/10079
EBM/89/10179
EBM/90/3885,89
Declaration of ineligibilityEBM/89/10077
EBM/89/10177
Declaration of noncooperation or censureEBM/89/10078
EBM/89/10178
Deferred income8433-(86/175)259
Letter to GovernorsEBM/89/10079,81
EBM/89/10179,81
Maintenance of value adjustments, policies and proceduresChairman’s Summing up
EBM/88/1973
Procedures for dealing with membersEBM/89/10173
Publicity upon declaration of ineligibility7999-(85/90)436
Reporting by Fund7931-(85/41)436
Rights accumulation programs, operational modalitiesChairman’s Summing up
EBM/90/9789
EBM/91/4293
EBM/92/5894
EBM/95/2995
Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)262
Special charges on8165-(85/189)* G/TR259
Setoff against charges due for second quarter of FY 19878442-(86/178)263
Strengthened cooperative strategy, timetable Chairman’s of proceduresStatement
EBM/90/3885,87
EBM/92/5894
Overdue payments to Fund; see Overdue obligations to Fund
PPayments arrears3153-(70/95)67,387
EBM/80/15468
EBM/89/6169
EBM/80/19068
Payments policies of members4134-(74/4)389
Payments restrictions; (see also Exchange restrictions; Payments arrears):
For security reasons, Fund jurisdiction144-(52/51)379
Withdrawal or general abandonment117-1438
“Position in the Fund,” definition6274-(79/158)236
6772-(81/35) G/S240
Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)379
Publication of reports, overdue obligations7931-(85/41)436
Publicity on declaration of ineligibility7999-(85/90)436
Publicity upon Suspension of Voting Rights and termination of suspension10305-(93/32)436
Purchase transactions (see also Use of Fund’s resources):
Augmentation of rights to purchase under stand-by and extended arrangements, elimination5706-(78/39)110
Purchase under buffer stock financing facility2772-(69/47)*199
3179-(70/102)201
5127-(76/91)202
5591-(77/163)472
5597-(77/171)205
7246-(82/147)207
7247-(82/147)203
Purchases under compensatory and contingency financing facility8955-(88/126)*160
Purchases under credit tranche; see Tranche policies
Purchases under extended arrangements4377-(74/114)*112
6830-(81/65)110
10464-(93/130)*124
Purchases under stand-by arrangements270-(53/95)*95
10464-(93/130)*120
Purchases under supplementary financing facility5508-(77/127)228
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal10464-(93/130)*126
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*96
10464-(93/130)*122
Suspension, effect on General Arrangements to Borrow1289-(62/1)*344
Suspension of transactions under extended arrangements10464-(93/130)*126
Suspension of transactions under stand-by arrangements270-(53/95)*96
10464-(93/130)*122
QQuotas:
Adjustment, first interval of five years408-23
Calculation, review of methodB/G Res. 38-1545
Change, effect on voting power of elected Executive Director180-5435
Reviews:
First408-23
Sixth General ReviewB/G Res. 31-2531
Seventh General ReviewB/G Res. 34-2534
Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S249
Eighth General ReviewB/G Res. 38-1545
Ninth General Review
Report of Executive Board to Board of GovernorsB/G Res. 43-1554
B/G Res. 44-5559
B/G Res. 45-1563
B/G Res. 45-2565
Payment of increases in quotas11286-(96/59)573
Period of consent, extension11286-(96/59)573
Tenth General Review
Report of Executive Board to Board of GovernorsB/G Res. 48-3578
Special adjustment for members with very small quotasB/G Res. 44-1556
B/G Res. 38-1546
RRates for official communications of Fund534-3419
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)475
Remuneration, rate, burden sharing8348-(86/122)*264
Repayment by Fund of borrowed currency1289-(62/1)*340
Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund5509-(77/127)365
Reporting by the Fund of overdue obligations7931-(85/41)436
Repurchases:
Attribution of reductions in Fund’s holdings of currencies6774-(81/35)245
6831-(81/65)*256
Currency resulting from purchase under credit tranches5703-(78/39)*254
Currency resulting from purchase under extended arrangement10464-(93/130)*127
Currency resulting from purchase under stand-by arrangement10464-(93/130)122
Early, guidelines5704-(78/39)250
6172-(79/101)251
6273-(79/158) G/S234
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)235
6774-(81/35)243
Obligations to pay gold, payment with SDRs or currencies of other members5703-(78/39)*255
5809-(78/88)256
Of Fund’s holdings102-(52/11)65
Procedures5703-(78/39)*254
Under buffer stock financing facility5703-(78/39)*254
Sixth International Tin Agreement7247-(82/147)204
1977 International Sugar Agreement5597-(77/171)206
International Natural Rubber Agreement, 19797246-(82/147)208
Under compensatory and contingency financing facility5703-(78/39)*254
8955-(88/126)*160
Under decision on enlarged access6783-(81/40)217
Under extended Fund facility4377-(74/114)*113
Under supplementary financing facility5508-(77/127)231
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. 38-1550
Under Ninth General Review of QuotasB/G Res. 45-2574
Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S234
Reserve tranche position:
Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)245
6831-(81/65)*256
Review7704-(84/78)257
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)474
Reserve tranche purchases (see also Use of Fund’s resources):
Exclusion of purchases and holdings in credit tranches6830-(81/65)109
Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)472
Exclusion of purchases and holdings under compensatory and contingency financing facility8955-(88/126)*160,472
Exclusion of purchases and holdings under extended facility6830-(81/65)110,473
Exclusion of purchases and holdings under oil facility5371-(77/51)473
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)474
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)473
Exclusion of purchases and holdings under systemic transformation facility10348-(93/61)
STF475
Restrictions; see Exchange restrictions; Payments restrictions
Retention quotas201-(53/29)382
Rights approach or Rights accumulation programs; see Overdue obligations to Fund, purchases from Fund
Rule G-11289-(62/1)*343
Rule I-6(4):
Rate of charges8165-(85/189)* G/TR260
8780-(88/12)271
8861-(88/67)273
9135-(89/46)276
9471-(90/98)297
10340-(93/54)280
10348-(93/61) STF214
11249-(96/39)294
11251-(96/39)296
Rule I-10:
Rate of remuneration8348-(86/122)*265
8861-(88/67)273
9471-(90/98)297
10340-(93/54)280
Rule O-2:
Determination of exchange rate1289-(62/1)*343
5590-(77/163)301
6001-(79/1) S454
6053-(79/34) S455
6054-(79/34) S457
6336-(79/178) S459
7041-(82/8) G/S468
Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S443
Rule P-7:
Declaration concerning use of special drawing rights in accordance with pre- scription on donations6437-(80/37) S462
Declaration concerning use of special drawing rights in accordance with pre- scription on forward operations6337-(79/178)S461
Declaration concerning use of special drawing rights in accordance with pre- scription on loans6001-(79/1) S454
Declaration concerning use of special drawing rights in accordance with pre- scription on pledges6053-(79/34) S*456
Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations6000-(79/1) S*453
Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S460
Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations6054-(79/34) S*458
Rule P-9, record of operations in special drawing rights6000-(79/1) S*453
6001-(79/1) S455
6053-(79/34) S*456
6054-(79/34) S*459
6336-(79/178) S460
6337-(79/178) S461
6437-(80/37) S462
8186-(86/9)
SBS/S449
8239-(86/56) SAF449
8937-(88/118) ESAF/S450
Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65)467
Rule T-1, interest and charges in respect of SDRs8759-(87/176)*ESAF37
11251-(96/39)296
SSaudi Arabia, association agreement under General Arrangements to Borrow;
Borrowing by the Fund
Transferability of claims7629-(84/25)352
SDDS, see, Special Data Dissemination Standard (SDDS)
Section 22 of By-Laws, compulsory withdrawalEBM/89/100 and
EBM/89/10179
Special contingent account, establishment8619-(87/90)270
Additions in FY 1988 and disposition of amounts placed in FY 1987 and FY 19888780-(88/12)270
Special Contingent Account (SCA-2)9471-(90/98)*297
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. 24-12583
Allocation for third basic periodB/G Res. 34-3585
New participants5956-(78/180) S451
6368-(79/191) S451
Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board594
Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
Annex369
Designation, review of rules and method of calculating amounts6209-(79/124) S463
Holders prescribed by the Fund:
African Development Bank and African Development Fund8318-(86/104) S447
Andean Reserve Fund6486-(80/77) S447
Arab Monetary Fund6609-(80/126) S447
Asian Development Bank7229-(82/136) S447
Bank for International Settlements6484-(80/77) S446
Bank of Central African States7064-(82/26) S447
Central Bank of West African States6908-(81/101) S447
East African Development Bank7582-(83/174) S447
Eastern Caribbean Central Bank7707-(84/79) S447
International Bank for Reconstruction and Development6718-(81/1) S447
International Development Association.6718-(81/1) S447
International Fund for Agricultural Development6489-(80/77) S447
Islamic Development Bank7086-(82/42) S447
Nordic Investment Bank6488-(80/77) S447
Swiss National Bank, Termination of status10225-(92/147) S448
Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S444
Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
Loans for Trust Fund expressed in5069-(76/72)482
Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S443
Payment of net charges and assessment in Special Drawing Rights Department; see Special Drawing Rights Department, payment
Payment of subscriptions6266-(79/156)6
Reconstitution, abrogation of rules6832-(81/65) S467
Sale by Fund to members for use in quota payments under Seventh General Review6663-(80/160) S249
Sale by Fund, guidelines6772-(81/35) G/S239
7626-(84/23) S242
7941-(85/50) S242
8265-(86/70) S243
8574-(87/64) S243
10278-(93/19) S243
SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR487
Transfers under Article V, Section 3(f)6275-(79/158) G/S237
Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)235
6774-(81/35)243
Use in donations6437-(80/37) S461
Use in financial operations under ESAF
Trust or administered account8937-(88/118) ESAF/S449
Use in forward operations6337-(79/178) S460
Use in loans6001-(79/1) S453
Use in operations under structural adjustment facility8239-(86/56) SAF449
Use in payment of charges5702-(78/39)* G/S258
Use in payment of 25 percent of quota increasesB/G Res. 31-2532
B/G Res. 34-2535
B/G Res. 38-1550
B/G Res. 45-2574
Use in payment of subsidy8186-(86/9) SBS/S448
Use in payment of Trust Fund obligations8642-(87/101) S/TR448
Use in pledges6053-(79/34) S*455
Use in repurchases5703-(78/39)255
5809-(78/88)256
Use in settlement of financial obligations6000-(79/1) S*452
Use in swap operations6336-(79/178) S459
Use in transfers as security for performance of financial obligations6054-(79/34) S457
Valuation basket, guidelines for calculation of currency amount8160-(85/186) G/S442
Valuation basket, see also, valuation method
Valuation for use in borrowing arrangements1289-(62/1)*343
Valuation, interimB/G Res. 29-10525
Valuation method6631-(80/145)G/S439
9549-(90/146)G/S441
11073-(95/92)G/S441
Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S443
Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S469
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/96/36406
Stand-by Arrangements:270-(53/95)*95
Access limits, see Guidelines on access limits below
Augmentation of rights to make purchases, elimination5706-(78/39)110
Charges10464-(93/130)*122
Conditionality, guidelines6056-(79/38)97
Review8192-(86/13)115
8583-(87/72)116
9790-(91/106)117
10723-(94/58)118
Elimination of use under Enlarged Access Policy10181-(92/132)219
Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)109
Foreign borrowing, performance criteria6230-(79/140)*103
Form, standard10464-(93/130)*118
Guidelines on access limits10181-(92/132)219
10500-(93/148)219
10819-(94/95)220
11098-(95/101)220
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility270-(53/95)*96
10464-(93/130)*122
Publicity upon declaration of7999-(85/90)436
7931-(85/41)436
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)107
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)70
EBM/84/5470
Payments arrears, performance criteria3153-(70/95)67
Performance criteria and phasing, operational guidelines7925-(85/38)100
Period270-(53/95)*95
5508-(77/127)229
6783-(81/40)216
Policies and procedures270-(53/95)*95
Provision for enlarged access to Fund’s resources
6783-(81/40)216
10181-(92/132)219
Provision for supplementary financing5508-(77/127)228
Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)100
Renewal270-(53/95)*96
Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
Suspension of right to engage in purchase transactions270-(53/95)*96
10464-(93/130)*122
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*311
Review10089-(92/94)
SAF/ESAF327
10090-(92/24)
SAF/ESAF328
Income from investment and loans, availability of use8760-(87/176)329
Interest8238-(86/56) SAF*308
List of eligible members and amounts of assistance8240-(86/56)*311
Loans under ESAF8238-(86/56)* SAF309
Regulations for administration8238-(86/56)* SAF304
Chairman’s Summing up
EBM/86/56314
Review of experience, conditionality, benchmarks, and prior actionsChairman’s Summing Up
EBM/87/93319
Review of operation8241-(86/56) SAF314
8757-(87/176)
SAF/ESAF325
9114-(89/40)
SAF/ESAF326
9487-(90/106)*
SAF/ESAF326
9808-(91/114)
SAF/ESAF327
10089-(92/94)
SAF/ESAF327
Use of SDRs in Operations8239-(86/56)
SAF449
Subscriptions:
Gold and currency, ownership by Fund.170-33
Payment of quota increasesB/G Res. 31-2532
B/G Res. 34-2535
B/G Res. 38-1550
B/G Res. 45-2574
Reserve Assets:
Guidelines for determining amounts to be paid6266-(79/156)4
Payment:
Under Eighth General Review of QuotasB/G Res. 38-1550
Under Ninth General Review of QuotasB/G Res. 45-2574
Subsidy Account; see Accounts, Subsidy Accounts
Sugar Agreement, International; see Buffer stock financing facility
Supplementary financing facility:
Authorization to make calls under borrowing arrangements6006-(79/)371
Charges; see Charges Establishment5508-(77/127)227
No augmentation of rights to purchase5706-(78/39)110
Replenishment of Fund’s holdings of currencies5509-(77/127)364
Interest payments under borrowing agreements6163-(79/96)372
Meaning of “Net creditor position in the Fund”6008-(79/3)372
Repurchases; see Repurchases
Subsidy Account
Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS503
Disbursement of additional subsidy amount for July 1, 1985 through June 30, 19878674-(87/117) SBS504
Additional subsidy payments for May 1, 1987 through June 30, 1987 and for July 1, 1987 through June 30, 19888941-(88/122) SBS504
Instrument6683-(80/185)* TR494
Investment of currencies6854-(81/78)* SBS500
Means of payments8185-(86/9) SBS/S501
Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS502
Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS502
Subsidy payments, July 1, 1986-June 30, 19878674-(87/117) SBS504
Subsidy payments, July 1, 1987-June 30, 19888941-(88/122) SBS504
Subsidy payments, July 1, 1988-June 30, 19899222-(89/97) SBS505
Subsidy payments, May 1-June 30, 1989 and July 1, 1989-June 30, 19909510-(90/122) SBS506
Subsidy payments, May 1-June 30, 1990 and July 1, 1990-June 30, 19919788-(91/105) SBS506
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS501
Transferability of claims; see Transferability of claims
Surveillance over exchange rate policies5392-(77/63)*8
9499-(90/111)*15
Enhanced surveillance; see Enhanced surveillance
Operational guidance; see Procedures, implementation of three-month period
Procedures, implementation of three-month period7427-(83/83)17
Chairman’s Remarks
EBM/91/1519
Review of procedures9499-(90/111)*15
10273-(93/15)15
10949-(95/37)16
Supplemental surveillance procedures6026-(79/13)*14
Suspension of voting rights, publicity, see Voting rights, suspension, publicity
Systemic transformation facility10348-(93/61)* STF210
Expiration of Period10961-(95/41)214
TTechnical assistance activities, Framework administered account10942-(95/33)*60
Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)398
Tin Agreements, International; see Buffer stock financing facility
Trade, Voluntary Declaration4254-(74/75)401
B/G Res. 29-10525
Tranche policies:
Application in connection with decision on enlarged access6783-(81/40)215
Application in connection with supplementary financing facility5508-(77/127)231
Application in connection with buffer stock financing facility10186-(92/132)201
Application in connection with compensatory and contingency financing facility8955-(88/126)*160
Application in connection with systemic transformation facility10348-(93/61) STF213
Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)109,473
Floating, elimination for purpose of determining level of conditionality applied to purchase10186-(92/132)200
Fund attitude to request for transactions within “first credit tranche” and beyond97
Transferability of claims:
General Arrangements to Borrow1289-(62/1)*343
7628-(84/25)351
Saudi Arabia’s borrowing agreement7629-(84/25)352
Transitional provisions of Article XIV117-1438
1034-(60/27)386
Trust Fund:
Deposits denominated in SDRs5973-(78/189) TR487
Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)477
5709-(78/41) TR488
5832-(78/95) TR488
6540-(80/98) TR491
Diversification of investments5972-(78/189)486
5973-(78/189) TR487
Eligible members, review of list5563-(77/150) TR486
Final payments of profits and loans for period July 1, 1976-June 30, 19785832-(78/95) TR488
Instrument5069-(76/72)477
Amendment5563-(77/150)TR486
5972-(78/189)486
6793-(81/45)493
Means of payment of interest6358-(79/188) TR*490
Means of repayment by members on their indebtedness under loan agreements7142-(82/85) TR*491
Overdue interest and special charges8165-(85/189)* G/TR259
Elimination after six months or more10352-(93/49) G/TR*261
Repayment terms:
Final loan disbursement6793-(81/45)493
Second period:
Extension6466-(80/68) TR489
6676-(80/168) TR490
Extension of period for qualification6202-(79/121) TR489
Timing of loan disbursements6201-(79/121) TR489
Special charges on overdue interest8165-(85/189) G/TR*259
Termination and transfer of resources to Special Disbursement Account6683-(80/185) G/TR*500
6704-(80/185) TR303,492
UUnenforceability; see Exchange contracts United Nations:
Agreement with International Monetary Fund599
Convention on the Privileges and Immunities of the Specialized Agencies606
Application to Fund, Annex V624
List of members which have accepted with respect to Fund625
General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6-8551
United States dollars:
Determination of value in terms of special drawing right pursuant to Rule O-2(b)6709-(80/189) S443
Inclusion in operational budgets6772-(81/35) G/S240
Use for payment of interest and other Fund liabilities6358-(79/188)* TR490
Use for repayments by members on their indebtedness under Trust Fund loan agreements7142-(82/85)* TR491
Use in payments under supplementary financing facility Subsidy Account7754-(84/108) SBS502
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
Application of same policy for stand-by arrangements as for requests for immediate drawings270-(53/95)*96
Authority to use resources of Fund, interpretation of Articles of Agreement71-264
Buffer stock financing2772-(69/47)*199
Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)205
Buffer stock financing facility as applied to International Tin Agreements:
Fourth3179-(70/102)201
3351-(71/51)202
Fifth5127-(76/91)202
Sixth7247-(82/147)203
Capital transfers1238-(61/43)64
Compensatory and contingency financing facility8955-(88/126)*160
Conditionality, guidelines6056-(79/38)97
Review8192-(86/13)116
8583-(87/72)116
9189-(89/77)117
9790-(91/106)117
10723-(94/58)118
“Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-364
Credit tranche policies; see Tranche policies
Enlarged access, policy on6783-(81/40)*215
Extended Fund facility4377-(74/114)*110
“First credit tranche”97
Floating of facilities, Elimination with respect to first credit tranche conditionality10186-(92/132)200
Guidelines on access limits10181-(92/132)219
Reviews10500-(93/148)219
10819-(94/95)220
11098-(95/101)220
In accordance with purposes of Fund102-(52/11)65
Ineligibility:
Effect on purchases under extended arrangement10464-(93/130)*126
Effect on purchases under stand-by arrangement270-(53/95)*96
10464-(93/130)*122
Publicity upon declaration7999-(85/90)436
7931-(85/41)436
Under Article V, Section 5284-3247
Under Article XXVI, Section 2(a) (ARTICLE XV, SECTION 2(a) before Second Amendment)
343.(54/47)471
Interpretation of Articles of Agreement71-264
Limit on access to Fund resources, guidelines10181-(92/132)219
10819-(94/95)220
11098-(95/101)220
Limitation under Article V, Section 5284-3247
286-1247
Monetary stabilization operations71-264
Postponement, limitation under Article V, Section 5286-1247
“Represents” in Article V, Section 3(b)(ii), meaning of the word
284-465
Reserve tranche purchases; see Reserve tranche purchases
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request10464-(93/130)*127
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal270-(53/95)*96
Stand-by and extended arrangements, forms, standard10464-(93/130)*122
Suspension of exchange transactions, effect on General Arrangements to Borrow1289-(62/1)*344
Suspension of transactions under extended arrangements10464-(93/130)*126
Suspension of transactions under stand-by arrangements270-(53/95)*96
10464-(93/130)*122
Temporary assistance in financing balance of payments deficits71-264
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 alsoArticle V, Section 3(b)(iii)2772-(69/47)*200
VVienna Institute, see Joint Vienna Institute
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)401
B/G Res. 29-10525
Voting power, elected Executive Directors, effect of change in quota180-5435
Voting rights, suspension, publicity10305-(93/32)436
WWaiver of condition of Article V, Section 3(b)(iii)4377-(74/114)*113
5508-(77/127)232
6783-(81/40)218
8955-(88/126)*161
World Bank, see, Bank
World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)*12
World Trade Organization (WTO): Guidelines/Framework for Fund staff collaboration10968-(95/43)426

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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