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

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International Monetary Fund
Published Date:
September 1996
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SELECTED DECISIONS AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

TWENTY-FIRST ISSUE

WASHINGTON, DC

June 30, 1996

PREFACE

This volume is the Twenty-First Issue of Selected Decisions of the International Monetary Fund and Selected Documents. It contains the decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, the volume contains certain documents relating to the Fund and the United Nations. With few exceptions, the decisions are of a general nature and relate to certain obligations, policies, and procedures under the Articles of Agreement.

The Fourteenth Issue had an accompanying Annex containing bilateral borrowing agreements entered into by the Fund for the financing of the Enlarged Access Policy and for the financing of the ESAF Trust and associated lending, as well as related decisions adopted by April 30, 1989; an updated Annex containing bilateral borrowing agreements and related decisions in force on November 30, 1995 was published as an Annex to the Twentieth Issue. Bilateral borrowing agreements entered into by the Fund in connection with the General Arrangements to Borrow are included in this volume.

This issue contains the decisions published in the Twentieth Issue that remain in effect, as well as new general decisions adopted after the publication of the Twentieth Issue.

Wherever reference is made in this volume to provisions of the Fund’s Articles or Rules and Regulations that have subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

The General Counsel

François P. Gianviti

CONTENTS

Selected Decisions of the Executive Board and Selected Documents

Selected Resolutions of the Board of Governors and Related Documents

LIST OF DECISIONS BY NUMBER

NumberPage
2-1434
71-264
117-1438
170-33
180-5435
237-2390
284-3247
284-465
286-1247
287-364
363-1421
408-23
446-4377
534-3419
574-2, as amended by 2620-(68/141)434
597-4435
102-(52/11)65
144-(52/51)379
201-(53/29)382
270-(53/95), as amended by 876-(59/15) and 1151-(61/6)95
343-(54/47)471
433-(55/42)380
541-(56/39)335
649-(57/33)397
876-(59/15), see 270-(53/95) 955-(59/45)384
1034-(60/27)385
1151-(61/6), see 270-(53/95) 1238-(61/43)64
1289-(62/1), as amended by 1362-(62/32), 1415-(62/47), 4421-(74/132), 5792-(78/79), 6241-(79/144), 7337-(83/37), and 10175-(92/129)336
1362-(62/32), see 1289-(62/1)
1415-(62/47) see 1289-(62/1)
2620-(68/141), see 574-2
2772-(69/47), as amended by 4913-(75/207) 7602-(84/3), and 10183-(92/132)199
3153-(70/95)67,387
3179-(70/102)201
3351-(71/51)202
4134-(74/4)389
4239-(74/67)258
4254-(74/75)401
4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), 8885-(88/89), 10182-(92/132), and 10186-(92/132)110
4421-(74/132), see 1289-(62/1)
4913-(75/207), see 2772-(69/47)
5069-(76/72)477
5127-(76/91)202
5220-(76/144)114
5371-(77/51)473
5392-(77/63), as amended by 8564-(87/59) 8856-(88/64) and 10950-(95/37)8
5508-(77/127)227,473
5509-(77/127)364
5563-(77/150) TR486
5590-(77/163)301
5591-(77/163)472
5597-(77/171)205
5694-(78/35), see 4773-(75/136) 5702-(78/39) G/S as amended by 7096-(82/57)G/S258
5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)254
5704-(78/39)250
5706-(78/39)110
5709-(78/41)TR488
5712-(78/41)7
5719-(78/46)476
5792-(78/79), see 1289-(62/1)
5809-(78/88)256
5832-(78/95)TR488
5956-(78/180)S451
5972-(78/189)TR486
5973-(78/189)TR487
6000-(79/1)S, as amended by 6438-(80/37)S452
6001-(79/1)S453
6006-(79/3)371
6008-(79/3)372
6026-(79/13), as amended by 10273-(93/15) and 10364-(93/67)13
6053-(79/34)S, as amended by 6438-(80/37)S455
6054-(79/34)S, as amended by 6438-(80/37)S457
6056-(79/38)97
6163-(79/96)372
6172-(79/101)251
6201-(79/121)TR489
6202-(79/121)TR489
6209-(79/124)S463
6230-(79/140)103
6241-(79/144), see 1289-(62/1)
6266-(79/156)4
6273-(79/158)G/S234
6274-(79/158)235
6275-(79/158)G/S237
6336-(79/178) S459
6337-(79/178) S460
6339-(79/179), see 4377-(74/114)
6352-(79/183)237
6358-(79/188)TR, as amended by 8640-(87/101) S/TR490
6368-(79/191)S451
6437-(80/37)S461
6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S
6466-(80/68)TR489
6467-(80/71)S444
6484-(80/77)S446
6486-(80/77)S447
6487-(80/77)S447
6488-(80/77)S447
6489-(80/77)S447
6540-(80/98)TR491
6609-(80/126)S447
6631-(80/145)G/S439
6663-(80/160)S249
6676-(80/168)TR490
6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS494
6704-(80/185)TR303,492
6709-(80/189) S443
6718-(81/1)S447
6772-(81/35)G/S239
6774-(81/35)243
6783-(81/40), as amended by 8885-(88/89)215,474
6790-(81/43)398
6793-(81/45)493
6830-(81/65), see also 4377-(74/114)110,473
6831-(81/65), as amended by 7059-(82/23)256
6832-(81/65)S467
6844-(81/75)374
6845-(81/75)374
6854-(81/78)SBS, as amended by 8184-(86/9)SBS500
6862-(81/81), see 5703-(78/39)
6870-(81/83), see 6863-(81/81) 6908-(81/101)S447
6925-(81/112), see 6863-(81/81) 7041-(82/8)G/S468
7059-(82/23), see 6831-(81/65) 7060-(82/23)474
7064-(82/26)S447
7086-(82/42)S447
7096-(82/57)G/S, see 5702-(78/39)G/S
7116-(82/68)S469
7142-(82/85)TR as amended by 8640-(87/101)S/TR491
7229-(82/136)S447
7246-(82/147)207
7247-(82/147)203
7337-(83/37), see 1289-(62/1)
7403-(83/73)354
7427-(83/83)17
7558-(83/156)115
7582-(83/174)S447
7589-(83/181)376
7602-(84/3), see 2772-(69/47)
7626-(84/23)S242
7628-(84/25)351
7629-(84/25)352
7704-(84/78)257
7707-(84/79)S447
7754-(84/108)SBS501
7842-(84/165)107
7857-(84/175)115
7908-(85/26)70
7925-(85/38), as amended by 8887-(88/89)100
7931-(85/41)436
7941-(85/50)S242
7989-(85/81)501
7990-(85/81)303
7999-(85/90)436
8029-(85/105)304
8037-(85/110)SBS502
8160-(85/186)G/S442
8165-(85/189)G/TR as amended by 8496-(87/3)G/TR, 8641-(87/101)G/TR, 8923-(88/110)G/TR, 10000-(92/58)G/TR,
10337-(93/49)G/TR, 10352-(93/49)G/TR, and 10551-(94/1)G/TR259
8184-(86/9)SBS, see 6854-(81/78)SBS
8185-(86/9)SBS/S501
8186-(86/9)SBS/S448
8192-(86/13)115
8222-(86/45)49
8238-(86/56)SAF, as amended by 8497-(87/3)SAF, 8652-(87/105)SAF, 8758-(87/176)SAF, 9118-(89/40)SAF, 9490-(90/106)SAF, 9863-(91/156)SAF/ESAF, 10093-(92/94) SAF and 10353-(93/49)SAF304
8239-(86/56) SAF449
8240-(86/56)SAF, as amended by 8542-(87/36)SAF, 8651-(87/105)SAF, 8935-(88/118)SAF, 9117-(89/40)SAF 9986-(92/48)SAF, and 10184-(92/132)SAF311
8241-(86/56)SAF314
8265-(86/70)S242
8271-(86/74)262
8318-(86/104)S447
8348-(86/122), as amended by 8481-(86-202) and 8482-(86/202)263
8433-(86/175)259
8442-(86/178)263
8481-(86/202), see 8348-(86/122)
8482-(86/202), see 8348-(86/122)
8492-(87/1)SBS502
8496-(87/3)G/TR, see 8165-(85/189)G/T
8497-(87/3)SAF, see 8238-(86/56)SAF
8523-(87/25)SBS503
see also 6683-(80/185)G/TR
8542-(87/36)SAF, see 8240-(86/56)SAF
8564-(87/59), see 5392-(77/63)
8574-(87/64)S243
8583-(87/72)116
8619-(87/90)270
8640-(87/101)S/TR see 6358-(79/188)TR and 7142-(82/85)TR
8641-(87/101) G/S/TR, see 8165-(85/189)G/TR
8642-(87/101)S/TR448
8651-(87/105)SAF, see 8240-(86/56)SAF
8652-(87/105)SAF, see 8238-(86/56)SAF
8674-(87/117)SBS504
8733-(87/159)347
8757-(87/176)
SAF/ESAF, as amended by 9987-(92/48) SAF/ESAF325
8758-(87/176)SAF see 8238-(86/56)SAF
8759-(87/176)ESAF, as amended by 9115-(89/40)ESAF, 9488-(90/106)ESAF, 9555-(90/146)ESAF, 9585-(90/161)ESAF, 10092-(92/94)ESAF, 10287-(93/23)ESAF, 10515-(93/162)ESAF, 10530-(93/170)ESAF, 10532-(93/170)ESAF, and 11114-(95/110)ESAF22
8760-(87/176) as amended by 9989-(92/48) and 10531-(93/170)SAF329
8780-(88/12)270
8845-(88/61)ESAF as amended by 9988-(92/49)ESAF, and 10185-(93/132)ESAF 10533-(93/170)ESAF47
8846-(88/61)ESAF48
8856-(88/64) see 5392-(77/63)
8861-(88/67), as amended by 8880-(88/84)272
8880-(88/84), see 8861-(88/67)
8885-(88/89), see 4377-(74/114) and 6783-(81/40)
8887-(88/89), see 7925-(85/38)
8897-(88/93)361
8923-(88/110) G/TR see 8165-(85/189) G/TR
8935-(88/118)SAF, see 8240-(86/56)SAF
8937-(88/118)ESAF/S449
8941-(88/122)SBS, see also 6683-(80/185)G/TR504
8955-(88/126) as amended by 9101-(89/30), 9153-(89/59), 9391-(90/43), 9503-(90/114), 9586-(90/161), 9587-(90/161), 9588-(90/161), 9604-(90/170), 10071-(92/85), 10183-(92/132), 10186-(92/132), 10398-(93/89), 10725-(94/58), 11169-(95/122), and 11170-(95/122) see also 5703-(78/39) and 9101-(89/30)160,472
9028-(88/71), see 7599-(84/3) 7600-(84/3)
9056-(89/2)ESAF49
9101-(89/30), see 8955-(88/126)
9114-(89/40)SAF/ESAF326
9115-(89/40)ESAF, see 8759-(87/176)ESAF
9116-(89/40)ESAF328
9117-(89/40)SAF, see 8240-(86/56)SAF
9118-(89/40)SAF, see 8238-(86/56)SAF
9135-(89/46)276
9153-(89/59) see 8955-(88/126)
9189-(89/77)117
9222-(89/97)SBS505
9326-(89/167) see 7599-(84/3) and 7600-(84/3)
9331-(89/167) as amended by 9693-(91/48), 10056-(92/78) and 10547-(94/1)152
9391-(90/43) see 8955-(88/126)
9403-(90/53)209
9471-(90/98) as amended by 10341-(93/54)297
9476-(90/101), see 7599-(84/3) and 7600-(84/3)
9487-(90/106)SAF/ESAF as amended by 9776-(91/96) SAF/ESAF326
9488-(90/106)ESAF see 8759-(87/176) ESAF
9490-(90/106)SAF, see 8238-(86/56)SAF
9499-(90/111), as amended by 10072-(92/85) and 10159-(92/122)15
9503-(90/114), see 8955-(88/126)
9510-(90/122)SBS506
9549-(90/146)G/S441
9555-(90/146)ESAF, see 8759-(87/176) ESAF
9585-(90/161)ESAF, see 8759-(87/176)ESAF
9586-(90/161), see 8955-(88/126)
9587-(90/161), see 8955-(88/126)
9588-(90/161), see 8955-(88/126)
9604-(90/170), see 8955-(88/126)
9693-(91/48), see 9331-(89/167)
9776-(91/96) SAF/ESAF, see 9487-(90/106) SAF/ESAF
9788-(91/105)506
9790-(91/106)117
9808-(91/114)SAF/ESAF327
9809-(91/114) SAF327
9862-(91/156)375
9863-(91/156)SAF/ESAF see 8238-(86/56) SAF
9986-(92/48)SAF, see
8240-(86/56) SAF
9987-(92/48) SAF/ESAF, see 8757-(87/176) SAF/ESAF,
9988-(92/49)ESAF, see 8845-(88/61)
9989-(92/48) see 8760-(87/176)
10000-(92/58) G/TR see 8165-(85/189)G/TR
10056-(92/78), see 9331-(89/167)
10071-(92/85), see 8955-(88/126)
10072-(92/85), see 9499-(90/111)
10089-(92/94) SAF/ESAF327
10090-(92/24) SAF328
10092-(92/94) ESAF, see 8759-(87/176)ESAF
10093-(92/94), see 8328-(86/56) SAF
10159-(92/122), see 9499-(90/111)
10168-(92/127)16
10175-(92/129), see 1289-(62/1)
10176-(92/129)347
10181-(92/132)219
10182-(92/132), see 4377-(74/114)
10183-(92/132), see 2722-(69/47) and 8955-(88/126)
10184-(92/132) SAF, see 8240-(86/56) SAF
10185-(92/132)ESAF, see 8845-(88/61) ESAF
10186-(92/132), see200
also 4377-(74/114) and 8955-(88/126)
10225-(92/147) S448
10235-(92/149)363
10273-(93/15), see also 6026-(79/13)15
10278-(93/19) S243
10279-(93/19)240
10286-(93/23) ESAF331
10287-(93/23) ESAF see 8759-(87/176)
10305-(93/32)436
10337-(93/49) G/TR see 8165-(85/189) G/TR
10340-(93/54), as amended by 10549-(94/1)279
10341-(93/54), see 9471-(90/98)
10348-(93/61) STF as amended by 10760-(94/71) STF and 10855-(94/109) STF210,475
10352-(93/49) G/TR see 8165-(93/49) G/TR
10353-(93/49) SAF see 8238-(86/56)SAF
10362-(93/67)17
10364-(93/67), see 6026-(79/13)
10365-(93/67)53
10391-(93/86), as amended by 10552-(94/1) and 10554-(94/1)282
10398-(93/89), see 8955-(88/126)
10464-(93/130)118
10500-(93/148)219
10515-(93/162)ESAF see 8759-(87/176) ESAF
10530-(93/179)ESAF see also 8759-(89/176) ESAF39
10531-(93/170)SAF see also 8760-(87/176)330
10532-(93/170)ESAF, see 8759-(87/176) ESAF
10533-(93/170) ESAF, see 8845-(88/61)ESAF
10534-(93/170)ESAF49
10535-(93/170)SAF39,313
10547-(94/1), see 9331-(89/167)
10549-(94/1), see 10340-(93/54)
10551-(94/1)G/TR, see 8165-(85/189)G/TR
10552-(94/1), see 10391-(93/86)
10554-(94/1), see 10391-(93/86)
10575-(94/4)629
10597-(94/14)ESAF40
10598-(94/14)SAF313
10660-(94/38)283
10662-94/38)299
10704-(94/52285
10705-(94/52)286
10706-(94/52)287
10723-(94-58)118
10725-(94/58), see 8955-(88/126)
10749-(94/67)381
10760-(94/71) STF see 10348-(93/61) STF
10819-(94/95)220
10850-(94/107)286
10855-(94/109) STF see 10348-(93/61) STF
10873-(95/1)313
10886-(95/2)16
10904-(95/13)242
10942-(95/33)60
10949-(95/37)16
10950-(95/37)9
10957-(95/40)290
10958-(95/40)290
10961-(95/41)214
10962-(95/41)293
10968-(95/43)426
10989-(95/53) SAF313
11027-(95/65) ESAF48
11073-(95/92) G/S441
11096-(95/100)103
11098-(95/101)220
11162-(95/121)60
11178-(96/1) ESAF333
11192-(96/2)418
11248-(96/38)105
11249-(96/39)294
11251-(96/39)296
11286-(96/59)573

LIST OF BOARD OF GOVERNORS’ RESOLUTIONS

NumberPage
IM-6510
6-8511
24-12584
29-1447
29-7512,513
29-8512,513
29-9512,517
29-10512,522
31-2532
34-2539
34-3592
38-1549
43-1555
44-1558
44-5561
45-1564
45-2572
48-2513
48-3579
48-4517
50-1582

Corresponds to ARTICLE XV, SECTION 2 before the Second Amendment.

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