Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
July 2012
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Index

A

  • Access policy, use of Fund resources

    • access guidelines and limits in credit tranches and under Extended Fund Facility, 456

    • balance of payments needs, 447

    • capital account crises, 461

    • capital account crises, modifications to Supplemental Reserve Facility, 467

    • capital account crises, prevention, 475

    • exceptional circumstances, 462, 473

    • exceptional circumstances, review, 472–75

    • Flexible Credit Line, 345

    • modifications to Supplemental Reserve Facility, 467–71

    • post-conflict countries, 436

    • Rapid Credit Facility, 204

    • Rapid Financing Instrument, 424

    • review, 467–71

    • revolving character of Fund resources, 434, 459

  • Accounting by members

    • ownership of gold and currency subscriptions, 19

  • Administrative Account

    • balances, 855

    • reserve tranche position, 855

  • Africa Regional Technical Assistance Centers Subaccount, 178

  • African Development Bank

    • communication concerning members’ arrears to the Fund, 834

    • exchange of document, 742

    • prescribed holder of SDRs, 799

  • African Development Fund, 799

  • Andean Reserve Fund

    • prescribed holder of SDRs, 798

  • Annual Report (IMF), 273, 319

  • Anti-money laundering

    • assessing a global standard and preparing ROSCs, proposals, 158–63

    • effectiveness, review of program (2011), 168

    • FSAP framework, 169

    • Fund involvement, 154

    • methodology document, 159

    • offshore financial center assessments, 151, 158

    • twelve-month pilot, program review, 163–73

  • Arab Monetary Fund

    • exchange of documents with, 742

    • prescribed holder of SDRs, 799

  • Archives policy

    • access by outside persons, 692

  • Arrears

    • lending into arrears, 448, 450–54

    • settlement of disputes between members, 117, 455–56

  • Arrears of a member to creditors other than the Fund

    • debt strategy, 448

    • extended arrangements, performance criterion, 401

    • first credit tranche, 446

    • Fund lending into nonsovereign arrears, 449

    • Fund lending into sovereign arrears, 449

    • Fund policies and procedures, 447

    • nontoleration of arrears to official creditors, 448

    • performance criteria, 449

    • stand-by arrangement, performance criterion, 401

  • Arrears to the Fund. See Overdue financial obligations to the Fund

  • Article I, purposes of the Fund, 334, 586, 591

  • Article I (v), temporary availability of Fund’s general resources, 394

  • Article II, Section 2 membership, 20

  • Article III, Section 2, adjustment of quotas, 3

  • Article IV consultations, 109, 110

    • annual, principle of, 65

    • Article VIII restrictions, 594

    • Article XIV restrictions, 594

    • Central African Economic and Monetary Union, 93

    • collaborative efforts, 719

    • conditionality discussions, 342

    • consultation cycles, 71

    • data provision, 74

    • document exchange with WTO, 734

    • early warning system models, 66

    • Eastern Caribbean Currency Union, 95

    • enhanced surveillance, 118–21

    • euro area, 79–92, 92

    • European Central Bank, observer status, 731–32

    • evaluation and review of related programs, 342–43

    • Financial Sector Assessment Program (FSAP), 121–27

    • governance issues, 98, 103, 105

    • integration of stability assessments, 134

    • lapse of time procedures, 79

    • military expenditures, 109

    • multiple currency practices, 598

    • Post-Program Monitoring, 373

    • procedural deadlines for completion, 422

    • prolonged users of Fund resources, 374

    • Public Information Notices, release, 785–87

    • Recent Economic Development reports, 65, 739, 743

    • stability assessments under FSAP, integration of, 134

    • staff reports, release to international and multilateral agencies, 739–42

    • surveillance priorities, 2008-2011, 48

    • three-month period, 78

    • use of Fund resources, 342

    • World Bank, collaboration with, 723

    • World Bank, observer status, 717

    • World Trade Organization, observer status, 738, 934

  • Article IV, Section 1, principles for guidance of members’ policies, 38

  • Article IV, Section 1(i), surveillance, 134

  • Article IV, Section 1(ii), surveillance, 134

  • Article IV, Section 1(iii), 25, 26

  • Article IV, Section 1(iii), manipulation of exchange rates, 42

  • Article IV, Section 2, notification of exchange arrangements, 23

  • Article IV, Section 3(a), surveillance over exchange rate policies, 25

  • Article IV, Section 3(b), surveillance over exchange rate policies consultation cycles, 71

  • Article V, Section 1, designation of fiscal agency, 547

  • Article V, Section 2(b), 761

  • Article V, Section 2(b), financial and technical services, 173, 298, 314, 321

  • Article V, Section 3, conditions governing use of Fund’s general resources

    • application of Fund policies to purchases of currency borrowed by Fund, 491, 544

    • early repurchase guidelines, 491

    • meaning of “consistent with the provisions of this agreement,” under Article V, Section 3, 334

  • Article V, Section 3(b)(ii)

    • balance of payments need, 253

    • meaning of “represents” that a member has a need to make purchases, 335

  • Article V, Section 3(b)(iii), waiver of limitation of 200 percent of quota

    • Extended Fund Facility, 395

  • Article V, Section 3(d), operational budgets

    • assessment of strength of members’ balance of payments and gross reserve position for operational budgets, 480, 485

    • selection of currencies in purchases, 482

  • Article V, Section 3(f), transfers of SDRs, 481

  • Article V, Section 5, limitation on use of Fund’s resources, 352

  • Article V, Section 6(b), transfers of SDRs by the Fund, 485

  • Article V, Section 6(c), sales of SDRs by the Fund, 490

  • Article V, Section 7(b), early repurchases

    • assessment of strength of member’s balance of payments and gross reserve position, 480

    • assessment of strength of members’ balance of payments and gross reserve position, 491

  • Article V, Section 7(c), repurchases, 493

  • Article V, Section 7(i), selection of currencies for repurchases, 485, 494

  • Article V, Section 8, charges, 497

  • Article V, Section 8(a), charges, 501, 503

  • Article V, Section 8(b), charges, 493, 501, 503, 855

  • Article V, Section 8(c), charges, 497, 500, 503

  • Article V, Section 8(d), charges, 497

  • Article V, Section 8(e), charges, 497

  • Article V, Section 9(a), remuneration, 855

  • Article V, Section 11, maintenance of value, 514

  • Article V, Section 12(f)(ii), Special Disbursement Account (SDA) resources for assistance to low-income developing members, 516

  • Article V, Section 12(f), other operations and transactions gold sales, 535, 859

  • Article V, Section 12(h), investment of member’s currency held in SDA, 516

  • Article V, Section 12(j), adoption of regulations for administration of Structural Adjustment Facility, 516

  • Article VI, capital transfers

    • use of Fund resources for, 538

    • WTO, information on Fund decisions requesting a member to exercise controls to prevent a large or sustained outflow of capital, 928

  • Article VI, Section 1, use of Fund’s resources for capital transfers

    • freedom to adopt regulations on capital movements, 539

  • Article VI, Section 2 of the Articles of Agreement of the Bank, 881

  • Article VI, Section 3, controls on capital transfers, 539

  • Article VII, Section 1, replenishment and scarce resources

    • borrowing by the Fund, 540

  • Article VII, Section 3(b), scarce currency, 585

  • Article VIII, general obligations of members

    • acceptance of obligations, 593

    • bilateral payments agreements, 407

    • bilateral payments arrangements, 402

    • bilateralism, 586

    • consultations, World Bank observer, 717

    • payments restrictions, 115, 586, 590–92

    • restrictions, 593

    • retention quotas, 589

    • settlement of disputes between members, 115

  • Article VIII, Section 2, avoidance of restrictions on current payments

    • acceptance of obligations under, 591

  • Article VIII, Section 2(a)

    • restrictions on current payments and transfers, 585

    • undue delays as payment restrictions, 593

  • Article VIII, Section 2(b), unenforceability of exchange contracts

    • interpretation, 583–84

  • Article VIII, Section 3, avoidance of discriminatory currency practices

    • acceptance of obligations under, 588, 591

    • multiple currency practices, 591, 599, 600

  • Article VIII, Section 4, convertibility of foreign-held balances

    • acceptance of obligations under, 593

  • Article VIII, Section 5, furnishing of information to the Fund

    • consideration of report by Managing Director, time periods, 610

    • declaration of censure, 612

    • handling of potential breaches, 617

    • members’ obligations, 608

    • procedures prior to report by the Managing Director to the Executive Directors, 609

    • report by Managing Director, 610

    • review, 2008, 616

    • sanctions, 612

    • strengthening effectiveness of, 75, 608

  • Article IX, Section 5, immunity of archives, 692

  • Article IX, Section 7, privilege for communications, interpretation, 697

  • Article X, relations with other international organizations, 897

  • Article XII, Section 3(b), proposed amendment, 14

  • Article XII, Section 3(b)(i), Executive Directors, appointed, interpretation, 745

  • Article XII, Section 3(b)(i), voting by Executive Directors, 18

  • Article XII, Section 3(c), election of Executive Directors, 18

  • Article XII, Section 3(c), proposed amendment, 14

  • Article XII, Section 3(d), proposed amendment, 15

  • Article XII, Section 3(f), appointed Executive Directors

    • Alternate Executive Directors, additional, 11

    • interpretation, 745

  • Article XII, Section 3(f), proposed amendment, 15

  • Article XII, Section 3(i), 15

  • Article XII, Section 3(i)(ii), voting by Executive Directors, 18

  • Article XII, Section 3(j), 699

  • Article XII, Section 3(j), proposed amendment, 16

  • Article XII, Section 4, Managing Director and staff, 754

  • Article XII, Section 6(d)

    • partial distribution of windfall gold sale profits, 761

  • Article XII, Section 6(f), 759

  • Article XII, Section 6(f)(ii), 759

  • Article XII, Section 6(f)(ix), 761

  • Article XII, Section 6(f)(vi), 761

  • Article XII, Section 6, reserves, distribution of net income, and investment, 755

  • Article XII, Section 7, publication of reports, 765

  • Article XII, Section 7(a), 787, 901

  • Article XII, Section 8, proposed amendment, 16

  • Article XIII, Section 2, 579

  • Article XIV, exchange restrictions under transitional arrangements

    • availment of transitional provisions, 591

    • bilateralism, 586

    • commitment to current account convertibility, 593

    • consultations, World Bank, 717

    • multiple currency practices, 589

    • retention quotas, 588

    • settlement of disputes between members, 115

  • Article XIV, Section 2, exchange restrictions

    • maintenance of orderly exchange arrangements, 600

    • multiple currency practices, 599–603

    • restrictions related to national security, 585

    • transitional arrangements, 584, 587

    • undue delays as payments restrictions, 593

  • Article XIV, Section 3, representation by the Fund

    • application, 600

    • meaning of “exceptional circumstances” in Article XIV, Section 3, 789

  • Article XVII, Section 3, 761

  • Article XVII, Section 3, other holders of SDRs, 320, 795

  • Article XVIII, 803

  • Article XVIII, Section 1(a), principles and considerations governing SDR allocation and cancellation, 804

  • Article XVIII, Section 4(c)

    • allocation and cancellation of SDRs, 805

  • Article XIX, Section 2(c), SDR operations and transactions between participants

    • donations, 816

    • forward operations, 815

    • loans, 808

    • other holders, 795

    • pledges, 810–12

    • settlement of financial obligation, 807

    • swap operations, 814

    • transfers as secruity for the performance of financial obligations, 812

  • Article XIX, Section 4, limit on SDR Department participant’s obligation to provide currency, 544

  • Article XIX, Section 5, designation of participants to provide currency, 818

  • Article XIX, Section 5(a)(i), designation plans, 480, 821

  • Article XIX, Section 5(c), designation rules in SDR Department, 821

  • Article XIX, Section 6(b), reconstitution, 823

  • Article XIX, Section 7(a), calculation of exchange rates, 546, 807, 808, 810, 812, 814

  • Article XX, Section 1, interest paid on holding of SDRs, 795

  • Article XX, Section 2, SDR Department interest and charges, 824

  • Article XX, Section 4, assessments, 826

  • Article XX, Section 5, application against unpaid charges of SDRs acquired by participants after payment date, 825

  • Article XXI(a)(ii), proposed amendment, 16

  • Article XXIII, Section 1, suspension of operations and transactions in SDRs, 797

  • Article XXIV, Sections 1(a) and 1(b), 803

  • Article XXIV, Section 4, 803

  • Article XXVI, Section 2(b), 876, 881

  • Article XXVI, Section 3, withdrawal from membership, 548

  • Article XXIX, interpretation

    • New Arrangements to Borrow, interpretation outside the purview of Article XXIV, 549

    • unenforceability of exchange contracts, 541

  • Article XXIX(a), interpretation

    • Appointment of Executive Director by a member having one of five largest quotas, Article XII, Sections 3(b)(i) and 3(f), 745

    • authority of the Fund to use its resources, 334, 871

    • privilege for communications, Article IX, Section 7, 697

    • unenforceability of exchange contracts under Article VIII, Section 2(b), 583

  • Article XXIX(a), proposed amendment, 17

  • Article XXX(c), definition of reserve tranche purchase

    • exclusion of purchases and holdings from EFF, 855

  • Article XXX(c)(iii), exclusion of purchases and holdings in credit tranches or under extended arrangements, 855

  • Article XXX(f), freely usable currencies, 790, 856

  • Article XXXI, Section 1, entry into force of Articles of Agreement, 3

  • Articles of Agreement

    • amendment, Resolution 66-2, 7

    • voice and participation, amendment to enhance, 6

  • Asian Development Bank

    • communications concerning members’ arrears to the Fund, 834

    • exchange of documents with, 740

    • prescribed holder of SDRs, 799

  • Assessment under Article XX, Section 4, 826

  • Attribution, rule of

    • members indebted to Fund, 486

    • reduction in Fund’s holdings of currency, 495–96

  • Audit

    • external audit firm, 787

    • framework Administered Account, 176

    • Post-SCA-2 Administered Account, 321

    • PRGF-HIPC Trust, 271, 280

    • safeguards for use of Fund resources, 335

    • Supplementary Financing Facility Subsidy Account, 859

  • Authorized signatories, 754

B

  • Balance of payments need

    • access policy, 458

    • conditionality, 335

    • emergency assistance, post-conflict countries, 435

    • extended arrangements, 409

    • Extended Fund Facility, 408

    • Fund-supported programs, 337

    • lenders to ESAF Trust, need because of developments in reserves, 242, 270

    • Precautionary and Liquidity Line, 427

    • protracted balance of payments problems, 518

    • Rapid Financing Instrument, 423

  • Bank for International Settlements (BIS)

    • cross-border capital flows, surveillance of, 55

    • investment by Fund of currencies held by Borrowed Resources Suspense Accounts, 580

    • investment by Fund of currencies received by SFF Subsidy Account, 867

    • prescribed holder of SDRs, 798

  • Bank of Central African States

    • prescribed holder of SDRs, 799

  • Bank-Fund collaboration. See also World Bank (International Bank for Reconstruction and Development)

    • conditionality, 723–28

    • country programs, 724

    • debt sustainability assessments, 730

    • Financial Sector Assessment Program, 123

    • financial systems, 724

    • IMF-World Bank Concordat, 705–17

    • longer-term program engagement, 377

    • observer status, generally, 717

    • World Bank observer status, 718

  • Bilateral payments arrangements

    • extended arrangement, 407

    • stand-by arrangement, 403

    • three-month settlement rule, temporary exemption, 587

  • Bilateralism and convertibility, 586–87

  • BIS. See Bank for International Settlements

  • Blackout periods

    • reduction in GRA arrangements, 397

  • Board of Governors Resolutions

    • Composite Resolution, 873

    • quota and voice reform, 3

    • SDR allocation, First Basic Period, 803–4

    • SDR allocation, Ninth Basic Period, 805

    • SDR allocation, Third Basic Period, 804

  • Borrowed Resources Suspense Accounts

    • establishment, 579

    • investment by the Fund of currencies held in, 579–80

  • Borrowing by the Fund. See also General Arrangements to Borrow (GAB); New Arrangements to Borrow (NAB)

    • guidelines, 580

    • Note Purchase Agreement, 582

  • Burden sharing

    • implementation in FY 2000, 504

    • implementation in FY 2001, 506

    • implementation in FY 2007, 509

    • principles of, 506

    • rate of charge, determination of, 507

  • By-Laws

    • Section 13, vote without meeting, 3

    • Section 20, audits, 176, 268, 273, 305, 312, 318, 322, 787, 866, 912

    • Section 22, compulsory withdrawal, 836, 839, 840

C

  • Capital account crises

    • access policy, 461

    • exceptional access policy, 2004 review, 472

    • exceptional access policy, SRF, 467

  • Capital flows

    • action to limit disequilibrium flows, Composite Resolution, 887

    • Fund’s role in cross-border flows, 54

    • multilateral aspects of policies, 59

    • possible policy framework, 56

    • WTO, information on Fund decisions requesting a member to exercise capital controls, 933

  • Capital transfers

    • controls by members, 539

    • multiple currency practices applicable solely to, 597

    • payments arrears, 437

    • use of Fund’s resources for, 598

  • Caribbean Development Bank (CDB), 742

  • Censure

    • draft declaration, 836

  • Central African Economic and Monetary Union

    • surveillance over monetary and exchange rate policies, 93

  • CFF. See Compensatory Financing Facility

  • Charges

    • accounting for charges from members with overdue obligations, 497

    • administrative account balances, 855

    • extended arrangements, 403

    • Extended Fund Facility, 396

    • future changes in charges, 497

    • media of payment in General Resources Account, 499

    • payment by nonparticipant in the SDR Department, 499

    • payment of net charges and assessment in the SDR Department for FY ended April 30, 1982, 824

    • rate of charge for use of Fund resources, FY 2011, 512

    • rate of charge for use of Fund resources, FY 2012, 511

    • setoff in connection with a retroactive reduction of charges due by members in arrears, 503

    • special charges on overdue financial obligations to the Fund, 500–501, 502

    • stand-by arrangements, 403

    • surcharge on purchases in credit tranches and under EFF, 497

    • value date for payments of special charges, 502

    • waiver of special charges, 501

  • Code of Good Practices on Transparency in Monetary and Financial Policies, 358

  • Collateral, 649

    • collateral guarantees on debt, international reserves template, 649

  • Combating the financing of terrorism, 151, 158–60, 160–63

  • Committee on Reform of the International Monetary System Composite Resolution, 873–84

  • Communications, privilege for interpretation of Article IX, Section 7, 697

  • Compensatory Financing Facility

    • indicative targets, 339, 340, 341

    • repeal, 347

    • repurchase expectation, 491

    • repurchases, 491

  • Compulsory withdrawal, 838, 840, 841, 846

  • Concessional financing

    • eligibility to use Fund’s facilities, 529

    • use of Fund’s facilities, 529

  • Conditionality

    • Bank-Fund collaboration, 724

    • benchmarks, 339, 340, 341

    • consistency with WTO agreements, 735, 736

    • consultation clauses, 339

    • emergency assistance, natural disasters, 433–35

    • emergency assistance, post-conflict countries, 436

    • emergency financing mechanism, 368

    • financing assurance reviews, 340

    • first credit tranche, 379

    • floating tranches, 342

    • guidelines on, 335

    • individual circumstances of members, 336

    • letters of intent, 339

    • modalities, 338

    • outcomes-based, 338

    • ownership, 336, 362, 724–28

    • performance criteria, 340

    • performance criteria and phasing, relationship, 384

    • performance criteria on external debt, guidelines, 386

    • performance criteria with respect to foreign borrowing, 392

    • PRGF-ESF arrangements, 381

    • principles, 335

    • prior actions, 339, 350, 354, 382

    • program design, 336

    • program review, 340–43

    • stand-by arrangement, normal access to credit tranches, 379

    • streamlining, 380, 382

    • structural benchmarks, 339–43

    • structural performance criteria inapplicable, 343

    • upper credit tranche stand-by arrangements, 459

    • waiver, adopting measures prior to granting of, 339

    • waiver, nonobservance of performance criteria, 341

  • Confidentiality

    • exchange of documents with other international agencies, 741

    • FSAP Confidentiality Protocol, 144–47

    • side letters, 343–50

  • Consultation clause

    • extended arrangements, 408

    • stand-by arrangements, 404

  • Consultation cycles, Article IV. See alsoArticle IV consultations

    • annual in principle, 65

    • FCL or PLL arrangement, effect of, 73

    • flexibility in, 65

    • interval between Article IV consultations, 65

  • Consultations other than under Article IV

    • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 591

    • Article VIII restrictions, 585, 586, 717

    • Article XIV restrictions, 586, 589, 717

    • bilateral agreements, 586

    • competitive depreciation, 595

    • conditionality, consultation clauses, 339

    • GATT Contracting Parties, 702

    • multiple currency practices, 589

    • prescribed holders of SDRs, 796

    • PRGF-ESF, consultation with creditors, 246

    • sale of members’ currencies, 481

    • trade and payments restrictions, escalation, 595

    • United Nations, 899, 901

    • World Trade Organization, 734–37

  • Contingent Credit Lines (CCLs)

    • extended arrangements and, 404

  • Convertibility

    • acceptance of obligations of Article VIII, Sections 2, 3, and 4, 590

    • bilateralism, 586

    • currency, 588, 590

    • current account of the balance of payments, 590, 592

    • retention quotas, 587

  • Cross-border capital flows

    • surveillance, 54

  • Cross-conditionality

    • avoidance, 715

  • Currencies

    • attribution of reduction of Fund’s holdings, 495–96

    • charges on Fund’s holdings in excess of quota, 497

    • freely usable, 316, 790, 797, 856, 865

    • General Resources Account, 480–81, 485, 499, 513–15

    • guidelines for operational budget allocation of currencies, review, 483

    • maintenance of value, 513–15

    • presently needed for making payments, 335

    • repurchases, 492

    • reserve asset payments, 19, 21

    • sale of currencies of members with outstanding purchases, 481, 483

    • SDR valuation basket, 790–94

    • subscription to the Fund, ownership, 19

    • use in operational budgets, 480–81

  • Current international transactions (current account transactions)

    • bilateralism, 586

    • multiple currency practices, 597–600

    • payments arrears, 448

    • restrictions involving WTO members, 737, 933

    • restrictions on payments and transfers, 586, 590

    • undue delays in availability or use of foreign exchange, 593

    • use of Fund resources, 335

D

  • Data Dissemination Standard. See Special Data Dissemination Standard (SDDS) and General Data Dissemination System (GDDS)

  • Data Dissemination Standards Bulletin Board

    • General Data Dissemination System (GDDS), 688

    • Special Data Dissemination Standards (SDDS), 630

  • Data provision to the Fund for surveillance, 74

    • review, 2008, 616

  • Data Standards Initiative

    • review (2012), 689

    • SDDS Plus tier, 689

  • Debt limits

    • performance criteria in Fund arrangements, 386

  • Debt operations

    • condition precedent clauses, 455

    • management of the debt situation, 454

    • mandatory prepayment, 455

    • stand-by arrangements and, 407

  • Debt-service ratio, 286

  • Debt strategy

    • payments of arrears to creditors, 446, 448, 593

  • Debt sustainability assessments, 728–31

    • Fund-Bank collaboration, 728

  • Debt sustainability framework

    • low-income countries, 238

  • Declaration of censure, 835

    • draft declaration, 839

  • Declaration of ineligibility, 834–35, 839, 841

    • publicity, 783, 850

    • termination, 850

    • timing, 845

  • Declaration of noncooperation, 835, 842

    • draft declaration, 839

    • publicity upon withdrawal, 851

    • termination, 850

    • timing, 845

  • De-escalation of remedial measures, 851–54

  • Default, sovereign, 369, 448

  • Designation, SDR Department

    • acceptance limit, 820

    • assessment of strength of balance of payments and governance position, 480–81

    • rules for designation, review, 818–21

    • rules for designation, revision, 821–22

  • Development Committee (Joint Ministerial Committee on the Transfer of Real Resources to Developing Countries)

    • changes in the organization of work and structure of the Secretariat function, 892

    • establishment and composition, 880

    • Executive Directors’ participation in meetings, 882

    • HIPC Initiative, 274, 281

    • Managing Director’s participation in meetings, 882

    • procedures, 883–84

    • rules of procedure, 891

    • WTO observer, 738

  • Discrimination

    • balance of payments reasons, 589

    • disputes between members, comparable treatment of creditors, 116, 448

    • multiple currency practices, 603

    • nondiscriminatory treatment of members, use of general resources, 336–37

  • Disputes between members

    • comparable treatment principle, 116

    • role of the Fund, 118, 455

  • Document exchange. See Exchange of documents with other international agencies

E

  • Early repurchases

    • emergency financing mechanism, 383

    • guidelines, 491–93

    • member’s balance of payments and gross reserve position, 491

  • Early warning system models, 66

  • Easing work pressures

    • omnibus paper, 417

  • East African Development Bank

    • prescribed holder of SDRs, 799

  • East Caribbean Currency Authority

    • prescribed holder of SDRs, 799

  • Eastern Caribbean Central Bank

    • prescribed holder of SDRs, 799

  • Eastern Caribbean Currency Union

    • surveillance over monetary and exchange rate policies, 95

  • EC. See European Commission

  • ECB. See European Central Bank

  • EFF. See Extended Fund Facility

  • EFM. See Emergency financing mechanism

  • Emergency assistance

    • natural disasters, 433

    • post-conflict countries, 260, 438–42

    • PRGF-HIPC Trust qualification, 260–62

    • repeal and replacement by Rapid Financing Instrument, 425

    • repurchase, 492

  • Emergency financing mechanism (EFM), 368–72

    • conditions for activation, 371

    • early repurchase, 372

  • Enhanced Structural Adjustment Facility (ESAF) Trust (transformed into Poverty Reduction and Growth Facility (PRGF) Trust). See also PRGF-ESF Trust

    • access limits, 251

    • benchmarks, 250

    • blend of general and SAF/ESAF resources, 849

    • borrowing for Loan Account, consultation with creditors, 246

    • commitment amount not normally reduced, 251

    • commitment period, 247

    • eligible members, 523

    • emergency assistance, relation to, 436

    • establishment, 246–47, 525–32

    • gold pledge, 846, 849

    • gold, use of, 249

    • legal documentation, 252–53

    • loans in conjunction with existing facility, 248

    • loans in conjunction with SAF loans, 521

    • loans to Trust as member’s official reserves, 252

    • maturity of loans, 248

    • objectives of programs, 250

    • operational agreements, 246–52

    • overdue financial obligations to Fund, 830

    • performance criteria, 245, 250

    • phasing of disbursements, 252

    • prior actions, 244, 250

    • rescheduling not available, 249

    • review, 250

    • review of arrangements, mid-year, 248, 250

    • rights accumulation program, 848

    • Special Disbursement Account, 248

    • Structural Adjustment Facility, assistance in conjunction with, 521–22, 534

    • Subsidy account, 248

    • transfer and retransfer of resources from and to Special Disbursement Account, 532–34

    • transformation to PRGF Trust, 242–44

    • use of SDRs, 801

  • Enhanced surveillance

    • annual and mid-year consultation reports, 112–13

    • Article IV consultations, 113, 114

    • Article VIII obligations, 593

    • criteria and procedures, 119–20

    • Executive Board involvement, 121

    • Fund’s role in assisting members with creditors, 118–20

    • midterm review, 112–13

    • quantified economic policy programs, 114

    • revised procedures, 113–14

    • staff reports, transmittal by member to creditors, 113–14, 120

  • Enlarged access

    • criteria for use of Fund resources, validity, 458–61

    • repurchases, 459

  • ESAF Trust. See Enhanced Structural Adjustment Facility Trust

  • ESAF-HIPC Trust. See Trust for Special ESAF Operations for the Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations

  • ESF Trust. See Exogenous Shocks Facility Trust

  • Euro

    • freely usable currency, 856

    • rates for computation and maintenance of value, 513

    • reference rates, European System of Central Banks, 794

    • weight in SDR valuation basket, 792

  • Euro area members

    • surveillance over monetary and exchange rate policies, 92, 731–33

  • European Bank for Reconstruction and Development (EBRD)

    • exchange of documents with, 742, 743

  • European Central Bank (ECB)

    • euro reference rates, 794

    • observer status, 731–32

  • European Commission (EC)

    • Article IV consultations, 92–93

    • exchange of documents with, 742, 743

  • European Investment Bank (EIB)

    • exchange of documents with, 742

  • European System of Central Banks, 794

  • Exceptional access policy, 462

  • Exchange arrangements. See also Exchange rates; Multiple currency practices

    • exchange taxes and subsidies, notification, 24

    • flexible, notification of significant decision, 23

    • intervention, 24

    • multiple currency practices, prior Fund approval, 24

    • notification of, 23

  • Exchange contracts

  • Exchange controls. See also Exchange restrictions

    • nonsovereign arrears stemming from imposition, 449

  • Exchange of documents with other international agencies

    • ad hoc requests, 743

    • agencies meeting criteria for exchange, 742

    • Article IV consultation staff reports, 738, 743

    • changes in procedures, 743

    • criteria for access, 741–42

    • Recent Economic Developments reports, 739, 743

    • technical assistance reports, 740

    • use of Fund resources staff papers, 739–40, 743

  • Exchange rate policies. See also Exchange arrangements

    • euro area, 731–32

    • surveillance over, 24–43, 61

  • Exchange rates. See also Exchange arrangements; Exchange rate policies; Multiple currency practices

    • coherence in global policymaking, 734

    • computations and maintenance of value, 513–15

    • computations and maintenance of value (value date), 513

    • fixed, 598

    • floating guidelines, 886

    • fluctuating, 23, 598–99

    • General Arrangements to Borrow, 546

    • manipulation, 42

    • New Arrangements to Borrow, 547

    • unification in multiple rate systems, 603

  • Exchange restrictions. See also Capital transfers; Multiple currency practices

    • approval by Fund, 594

    • Article VIII, Section 2, 3, and 4 obligations, 591–92

    • avoidance of escalation, 595

    • balance of payments reasons, 592

    • bilateralism, 586–87

    • competitive depreciation, 595

    • consultations with Fund, 591–92, 595

    • discrimination for balance of payments reasons, 590

    • emergency assistance, 434–35

    • Fund representation in exceptional circumstances under Article XIV, Section 3, 601, 789

    • guiding principle on whether a measure is an exchange restriction, 591

    • non-balance of payments reasons, 592

    • performance criteria, extended arrangement, 406

    • performance criteria, stand-by arrangement, 401

    • retention quotas, 587–89

    • security reasons, 585–87

    • transitional arrangements under Article XIV, 588–89, 591

    • undue delays, 539, 593

    • World Trade Organization, information on Fund approval, 933

  • Exchange subsidies, 24

  • Exchange taxes, 24, 598, 602

  • Executive Board

    • Alternate Executive Directors, additional, 11

    • code of conduct, 746–52

    • meetings, procedural guidelines, 752–53

    • minimum circulation period for documents, 111

    • notification of exchange arrangements, 23

    • reform of, Resolution 66-2, 7

    • report on Eleventh General Review of Quotas, 3, 347–50

    • side letters procedures, 347

    • surveillance over exchange rates, 33, 61

  • Executive Directors

    • additional appointed, “the preceding two years,” in Article XII, Section 3(c), meaning of, 746

    • appointment by members having five largest quotas, Article XII, 745

    • appointment of two additional directors, Article XII, Section 3(c), 745–46

    • IMFC meetings participation, 875

    • procedural guidelines, 752–53

    • voting power, effect of adjustment of quota, 746

  • Exogenous Shocks Facility

    • assistance under, 233

  • Exogenous Shocks Facility (ESF) Trust. See Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust

  • Export shortfalls, compensatory financing. See Compensatory Financing Facility

  • Extended arrangements. See also Access policy, use of Fund resources; Extended Fund Facility; Use of Fund resources

    • applicable situations, 393–94

    • blackout periods, reduction of, 397

    • charges, 396, 403

    • Consultation clauses, 404

    • emergency assistance and, 436–37

    • form, standard, 404–7

    • Guidelines on Corrective Action, 362, 407

    • ineligiblity, 827

    • lapse of time completion of reviews, 409

    • misreporting and noncomplying purchases, 351, 355, 356

    • overdue financial obligations to the Fund, 827–28, 827–28

    • performance criteria form, 405–6

    • period not exceeding three years to four years, 395–96

    • period of arrangement, extension, 395

    • phasing, 396, 404–5

    • repurchase expectation, 396, 408

    • repurchases, 396, 408

    • stand-by arrangements policies applicable, 396

    • structural performance criteria not applicable, 343

    • suspension of transactions, 407

  • Extended Credit Facility

    • interest rate, 234

  • Extended Fund Facility (EFF). See also Extended arrangements

    • applicability of policies on stand-by arrangements, 396

    • establishment, 393–99

    • situations to which facility could apply, 394

  • External Audit Committee, 788

  • External audit of Fund financial statements, 787–88

  • External debt

    • management of debt situation, 455–56

  • External debt performance criteria

    • concessionality, definition, 392

    • extended arrangement, 405

    • guidelines, 386

    • stand-by arrangement, 401

F

  • FATF. See Financial Action Task Force

  • Federal Reserve Bank of New York, 794

  • Financial Action Task Force

    • Fund collaboration with, 169

  • Financial Action Task Force (FATF), 158–63

    • 40+8 Recommendations, 159

    • endorsement of methodology, 163

    • Fund collaboration with, 165

    • surveillance, 124

  • Financial crisis 2007-08

    • stock-taking of Fund response, 82

  • Financial Sector Assessment Program (FSAP)

    • anti-money laundering, 128, 151

    • Article IV consultations, 122, 124, 126, 128, 130

    • Bank-Fund collaboration, 123, 127, 144

    • confidentiality, 125, 126

    • Confidentiality Protocol, 144–47

    • coverage, 128

    • coverage and frequency, 123–25

    • Financial System Stability Assessments (FSSAs), 122, 123, 130

    • frequency, 123, 129

    • FSSA reports, presumed publication, 130

    • Independent Evaluation Office review, 130

    • offshore financial centers (OFCs), 125, 151, 153, 154

    • publication of FSAP reports, 125

    • publication of FSAP reports not authorized, 126

    • publication of FSSA reports endorsed, 126

    • Reports on Observance of Standards and Codes (ROSCs), 123

    • review, 127

    • review, 2005, 127

    • stability assessments, integration of, 131

    • standards and codes, 122–23

    • stress tests, 122

    • surveillance, 122, 128, 129

    • updates, 128

    • World Bank, collaboration with, 122, 123

  • Financial Stability Board

    • cross-border capital flows, surveillance of, 55

    • membership of the Fund, 84

  • Financial Stability Forum, 82

    • terms of Fund membership, 87

  • First credit tranche purchase

    • elimination of payments arrears, 446

    • liberal Fund attitude, 380

    • reasonable efforts test, 380, 447

  • First credit tranche stand-by arrangements

    • phasing and performance clauses omitted, 379

  • Fiscal agency

    • safeguards on use of Fund resources when fiscal agent not central bank, 358

  • Flexible Credit Line

    • Article IV consultation cycle, 72

    • Emergency Financing Mechanism procedures not applicable, 412

    • establishment, 409

    • performance criteria not applicable, 410

    • phasing not applicable, 410

    • qualification criteria, 409

    • requirement to review 12-month arrangement after six months eliminated, 413

    • review (2011), 414

    • review no later than November 2014, 432

    • review of decision, 413

  • Foreign borrowing. See External debt

  • Forms

    • draft declaration on censure or noncooperation, 839

    • draft first letter to all Governors regarding a member’s overdue financial obligations to the Fund, 836–37

    • draft second letter to all Governors regarding a member’s overdue financial obligations to the Fund, 837–39

    • extended arrangement, 404–8

    • stand-by arrangement, 399–404

  • Fourteenth General Review of Quotas, 7

  • Fragile situations, countries in

    • unique challenges, 235

  • Framework Administered Account for Selected Fund Activities

    • instrument to establish, 179

  • Framework Administered Account for Technical Assistance Activities

    • adoption of Instrument to establish, 173

    • Africa Regional Technical Assistance Centers Subaccount, 178

    • Instrument to establish, 173–77

    • investment of resources, 175

    • Pacific Financial Technical Assistance Centre Subaccount, 177

  • Freely usable currencies (euro, Japanese yen, pound sterling, U.S. dollar), 316, 790, 797

  • FSAP. See Financial Sector Assessment Program

  • Fund-Bank collaboration. See also World Bank (International Bank for Reconstruction and Development)

    • attendance at Fund Board Meetings, 717, 750

    • Financial Sector Assessment Program, 127

  • Furnishing of information to the Fund, 351, 608–16

G

  • G-20 mutual assessment process, 142

  • GAB. See General Arrangements to Borrow

  • GATT. See General Agreement on Tariffs and Trade

  • GDDS. See General Data Dissemination System

  • General Agreement on Tariffs and Trade (GATT). See also World Trade Organization (WTO)

    • arrangement for consultation and cooperation with the Contracting Parties, 702–6

    • Fund collaboration with, 733–40, 887

    • import restrictions for balance of payments reasons, 592

    • Voluntary Declaration on Trade and Other Current Account Measures, 887

  • General Arrangements to Borrow (GAB), 540–56

    • borrowing by the Fund, guidelines, 580

    • emergency financing mechanism, 368

    • interest, 520

    • letter from France’s Minister of Finance to U.S. Secretary of the Treasury, 552–54

    • participants and amounts of credit, 551

    • quotas, Eleventh General Review, 3

    • repayment by the Fund, 544–46

    • sales of currencies of members indebted to Fund, 486

    • transferability of claims, 547

    • use of credit arrangements for nonparticipants, 550

  • General Data Dissemination Standard

    • review (2012), 690

  • General Data Dissemination System (GDDS)

    • access by the public, 682

    • bulletin board on the internet, 688

    • coverage, periodicity, timeliness of data, 661

    • integrity, 683

    • periodicity, 673–89

    • phased approach, 658

    • purposes, 657, 659

    • quality, 685

  • General Reserve

    • placement of income from GRA in FY 2012, 760

  • General Resources Account

    • transfer of currencies to Investment Account, 759

  • General Resources Account (GRA)

    • adjustment of Fund holdings of members’ currency, 514

    • annual reimbursement of PRGF-ESF Trust expenses, 536

    • designation, assessment of strength of member’s balance of payments and gross reserve position, 480

    • gold held, sale, 535

    • maintenance of value, 514

    • media payment in, 500

    • misreporting and noncomplying purchases, 351–54

    • overdue charges, 501

    • rates for computation and maintenance of value, 513

    • repayment expectation under PRGF Trust, failure to meet, 242

    • repurchase expectation, failure to meet, 362

    • rights approach, 848

    • rules, applicability to PRGF Trust administration, 243

    • sale of currencies at the request of members with outstanding purchase, 483

    • sale of SDRs by the Fund for payment for increase in quota, 490

    • special charge on overdue charges, 501

    • specification of currencies by the Fund, 483–84

    • Subsidy Account, reimbursement of administrative expenses, 866

    • transfers of SDRs instead of currencies under Article V, Section 3(f), 481

  • Global Financial Stability Report (GFSR), 45

  • Gold

    • designation of SDRs, 819–20

    • gold pledge for use of ESAF Trust resources, 846–49, 849–50

    • gold pledge for use of PRGF-ESF Trust resources under rights approach, modalities, 535–36

    • harmonization of excess holdings of SDRs, 819–20

    • interim administered account for windfall gold sales profits, 761

    • ownership of gold and currency for subscriptions, 19

    • payment for repurchases, 494

    • profit from gold sales to Special Reserve and General Reserve, 760

  • Governance issues

    • Article IV consultations, 103, 106

    • coordination with bilateral donors and multilateral agencies, 107–9

    • corruption, 99, 102, 103

    • HIPC Initiative, 283

    • identification of problems, 106

    • macroeconomic impact test for Fund involvement, 99, 105, 107

    • policy advice, 98, 100

    • role of the Fund, 109–11, 109, 111, 657, 658

    • technical assistance, 98, 106

    • technical issues, 99, 100

    • transparency, 99, 103

    • use of Fund resources, 104–5

  • GRA. See General Resources Account

  • Gross reserve position

    • assessment for purposes of designation plans, operational budgets, and early repurchases, 483

  • Guidelines

    • access by members to Fund’s general resources, 456

    • allocation of currencies, operational budget, 483–84

    • conditionality, 335–43, 379

    • corrective action, 257, 351–54, 361

    • designation plans, 480

    • early repurchases, guidelines, 491–93, 496

    • emergency assistance, natural disasters, 432

    • emergency assistance, post-conflict, 438–42, 435–37

    • Fund staff collaboration with the WTO, 733–39

    • governance issues, 98–109

    • minimum circulation periods for Executive Board documents, 111

    • misreporting and noncomplying purchases, 351–54

    • operational budget, 480–81

    • payment of reserve assets for subscription, 19–22

    • performance criteria on external debt in Fund arrangements, 386

    • performance criteria with respect to foreign borrowing, discount rate for assessing concessionality, 392–93

    • SDR valuation basket, calculation of currency amounts, 790–92, 792–93

    • SDR valuation basket, conversion into euro of deutsche mark and French franc, 794

    • selection of currencies by the Fund, 483–84, 485–86

H

  • Heavily Poor Countries (HIPC) Initiative

    • status of implementation (2011), 293

  • HIPC Initiative. See Trust for Special ESAF Operations for the Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations (ESAF-HIPC Trust); Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

I

  • IBRD. See World Bank

  • IMFC. See International Monetary and Financial Committee

  • Immunities and Privileges of Specialized Agencies, United Nations Convention, 904–21

  • Import restrictions for balance of payments reasons

    • extended arrangements, 407

    • GATT, 446

    • stand-by arrangements, 402

  • Income position

    • PRGT Reserve Account Transfer to Subsidy Account, 511

    • rate of charge for use of Fund resources, FY 2011, 512

  • Income Position. See Burden sharing

  • Ineligibility to use Fund resources

    • declaration of ineligibility, 612, 834, 838, 840–46, 850

    • extended arrangements, 407, 827

    • limitation and ineligibility under Article V, Section 5, 488

    • publicity, 850

    • stand-by arrangements, 402, 827

  • Inter-American Development Bank (IDB)

    • communication regarding members’ arrears to the Fund, 834

    • exchange of documents with, 742

  • Interest

    • means of payment under Trust Fund, 857

    • Poverty Reduction and Growth Trust, 207

    • PRGF-HIPC Trust, interest-free loans, 266

  • Interim Committee. See also International Monetary and Financial Committee

    • governance, 356

    • International Monetary and Financial Committee, transformation of Interim Committee into, 875–78

    • rules of procedures, 890

    • safeguards for use of Fund resources, 356

    • terms of reference, 877

  • International agencies, 740

  • International Bank for Reconstruction and Development (IBRD). See World Bank

  • International Court of Justice, 900, 916

  • International Development Association (IDA)

    • HIPC Initiative, 283, 284

    • prescribed holder of SDRs, 799

  • International Financial Statistics (IFS), 77

  • International Fund for Agricultural Development (IFAD)

    • prescribed holders of SDRs, 799

  • International Monetary and Financial Committee (IMFC, formerly Interim Committee)

    • Fourteenth General Review of Quotas, 7

    • participation of Executive Directors in meetings, 876

    • participation of Managing Director in meetings, 876

    • procedures, 877–78

    • terms of reference, 877

  • International organizations

    • transmittal of Fund documents, 740

  • Interpretation

    • Article VI, use of Fund resources for capital transfers, 334

    • Article VIII, Section 2(b), unenforceability of exchange contracts, 583–84

    • Article IX, Section 7, privilege for communications, 697–98

    • Article XII, Section 3(b)(i) and Section 3(f), appointment of directors by members having one of five largest quotas, 745

    • Article XII, Section 3(c), appointment of two additional directors, 745

    • Article XIV, Section 3, Fund representation in exceptional circumstances on withdrawal of Article XIV, Section 3 restrictions, 789

    • Articles of Agreement, 334

  • Investigation of Fund activities, cooperation procedures, 694–96

  • Investment Account

    • adoption of rules and regulations, 755

    • establishment, 755

    • guidelines for investing assets, 756–58

    • objective, 756

    • sources of assets, 756

    • termination, 756

    • transfer of currencies, FY 2010 and FY 2012, 759

    • transfer of currencies, FY 2011 and FY 2012, 759

    • transfer of income to General Resources Account, 760

    • uses of income, 756

  • Investment authority of the Fund

    • broadening the investment mandate, 762

  • Islamic Development Bank (IsDB)

    • exchange of documents with, 742

    • prescribed holder of SDRs, 799

J

  • Japanese yen

    • freely usable currency, 856

    • weight in SDR valuation basket, 791

  • Joint Ministerial Committee on the Transfer of Real Resources to Developing Countries. See Development Committee

  • Joint Staff Advisory Notes

    • streamline modalities, amendments to, 295

  • Joint Staff Assessments, 285

L

  • Lapse of time procedures

    • Article IV consultations, 79

    • program reviews, completion, 417

    • transmittal of supplementary information to WTO, 734

  • Leases, definition of external debt, 392–93

  • Lending into arrears, 450–54

    • review of policy, 454

  • Letters of intent (LOIs)

    • deletion from documents released to aid agencies, 744

    • side letters, 347–50

  • Loan Account

    • borrowing for, 209

  • Longer-term program engagement

    • definition, 378

    • review, 375

  • Low-income countries

    • concessional financing framework, reform of, 191

    • debt sustainability framework, 238

    • fragile situations, 235

    • role of the Fund, 442, 444

M

  • Maintenance of value

    • overdue adjustments, 830

    • rates for computations, 513–15

    • Managing Director

    • authorized signatories, 754

    • consultation by member before requesting an extended arrangement, 394

    • consultation with creditors for additional borrowing for PRGF Trust Loan Account, 246

    • consultation with member on changes in exchange rate policies, 24

    • consultation with member with outstanding purchases on sale of currency, 486

    • Development Committee, participation in meetings of, 882

    • General Arrangements to Borrow, proposals for calls, 550

    • International Monetary and Financial Committee, participation in meetings of, 876

    • nondiscriminatory treatment of members, 337

    • SDR allocation, proposals for first basic period, 803

    • use of Fund resources, recommendation regarding approval, 337

  • MDRI. See Multilateral Debt Relief Initiative; Multilateral Debt Relief Initiative-I Trust; Multilateral Debt Relief Initiative-II Trust

  • MEFPs. See Memoranda of economic and financial policies

  • Military expenditure and the role of the Fund

    • Article IV consultations, 109, 110

    • performance criteria, 111

  • Misreporting and noncomplying disbursements, PRGF-ESF Trust

    • missed repurchase expectation, 783

    • prior action, accuracy of information, 244

    • repayment expectation, 256, 265

    • safeguards for use of Fund resources, 357

    • waiver of applicability or for nonobservance of performance criteria, 245

  • Misreporting and noncomplying purchases, General Resources Account

    • corrective action, 351–54

    • performance criteria or other conditions, accuracy of information, 351, 360–61, 355

    • prior actions, accuracy of information, 355

    • publication of cases, 783

    • safeguards for use of Fund resources, 355–60

    • waivers, 352

  • Misreporting and noncomplying purchases, Policy Support Instrument (PSI)

    • corrective action, 186

  • Misreporting and noncomplying purchases, PRGF and PRG Trust

    • corrective action, 227

  • Misreporting in de minimis cases

    • Article VIII, Section 5, 614

    • de minimis, definition, 354

    • General Resources Account, 353

    • Policy Support Instrument, 188

    • Special PRGF Operations for HIPC, 264

  • Moral hazard, 369, 440, 463, 473

  • Multilateral Debt Relief Initiative

    • status of implementation (2011), 293

  • Multilateral Debt Relief Initiative (MDRI)

    • proposed decisions, 296

    • qualification of non-HIPCs, 296

  • Multilateral Debt Relief Initiative-I (MDRI-I) Trust

    • administration, 304

    • amendment, 307

    • completion point, 300

    • decision point, 300

    • eligibility, 302

    • investment of resources, 306

    • media of payment of contributions, 301

    • purposes, 300

    • Trust reimbursement for FY 2011, 313

    • unit of account, 301

  • Multilateral Debt Relief Initiative-II (MDRI-II) Trust

    • administration, 311

    • amendment, 313

    • completion point, 307

    • decision point, 307

    • eligibility, 309

    • instrument to establish, 307

    • liquidation, 313

    • media of payment of contributions, 309

    • purposes, 308

    • unit of account, 308

  • Multiple currency practices

    • approval, 24, 603

    • approval criteria, when imposed for balance of payments reasons, 591, 605

    • approval criteria, when imposed for non-balance of payments reasons, 591

    • Article IV consultations, 606

    • balance of payments reasons, 598, 605

    • capital transactions, 606

    • consultation with Fund prior to changes, 597, 598

    • discrimination, 606

    • exchange taxes, 602

    • jurisdiction of the Fund, 599

    • nonbalance of payments reasons, 597, 606

    • official action, 605

    • policy in 1947, 595–603

    • policy in 1957, 603

    • policy in 1998, 604–6

    • simplification of complex rate systems, 603

    • spread, 605

    • statement to members transmitting Funds decisions, 596

    • unification of exchange rates as basic Fund objectives, 603

  • Multi-year rescheduling arrangements (MYRAs)

    • enhanced surveillance and, 119

  • Mutual assessment process, G-20, 142

  • MYRAs. See Multi-year rescheduling arrangements

N

  • NAB. See New Arrangements to Borrow

  • Natural disasters, emergency assistance, 432–35

  • New Arrangements to Borrow

    • new participants, 576

  • New Arrangements to Borrow (NAB), 556–76

    • activation period, 560

    • adherence, 559

    • Fourteenth General Review of Quotas, 10

    • General Terms and Conditions for NAB Notes, 563

    • interest, 564

    • meeting of participants, 577

    • rates of exchange, 567

    • special calls, 562

    • transferability, 568

    • transferability of claims, 578–79

    • withdrawal from adherence, 571

    • withdrawal from membership, 571

  • Noncooperation draft declaration, 835

  • Nondiscriminatory treatment of members

    • Paris Club, 116

    • Use of Fund resources, 336

  • Nordic Investment Bank

    • prescribed holder of SDRs, 799

  • Note Purchase Agreement

    • issuance of notes by Fund to official sector, 582

O

  • Observer status in the Fund

    • European Central Bank, 731

    • World Bank, 717–20

    • World Trade Organization, 733, 933

  • Observer status of the Fund

    • World Bank, 717

    • World Trade Organization, 934

  • OECD. See Organization for Economic Cooperation and Development

  • Official clearing and payments arrangements

    • temporary exemption from three-month settlement rule, 587

  • Offshore financial centers (OFCs), 152

    • assessment program, 151–54

    • inclusion in FSAP reports, 125

    • integration of assessment program with FSAP, 154

    • publication of reports, 153

  • Operational budgets

    • assessment of strength of member’s balance of payments and gross reserve position, 480

    • guidelines for operational budget allocation of currencies, review, 483

    • specification of currencies by the Fund, 483, 485

    • transfers of SDRs under Article V, Section 3(f), 481

  • Organization for Economic Cooperation and Development (OECD)

    • exchange of documents, 743

  • Overdue financial obligations to the Fund. See also Rights accumulation programs; Rights approach

    • accounting charges, 500

    • Annual Report (IMF), 833

    • complaint by Managing Director, 832

    • compulsory withdrawal, 835, 836, 840, 842

    • declaration of censure, 835, 839

    • declaration of ineligibility, 834, 839, 841, 842, 850

    • declaration of noncooperation, 835, 839, 842, 850

    • de-escalation of remedial measures, 851

    • draft first letter to all Governors, 836–37

    • draft second letter to all Governors, 838–39

    • Eleventh General Review of Quotas, 3

    • ESAF, no access, 829–30

    • extended arrangements and, 828

    • flexibility in de-escalation policy because of Qualifying Catastrophic Disaster, 854

    • Ninth General Review of Quotas, 833, 843

    • nontoleration of arrears to official creditors, 448

    • overdue maintenance of value adjustments, 830

    • Overseas Economic Cooperation Fund (OECF), 392

    • preferred creditor status of Fund, 830–36, 830, 831, 839, 843

    • prevention/deterrence measures, strengthened timetable of procedures, 844

    • PSI, nonapproval, 184

    • requests for the use of Fund resources under a stand-by or extended arrangements, management will not submit, 828

    • review of strategy (2011), 854

    • review period, 828

    • SAF, no access, 829

    • setoff in connection with retroactive reduction of charges, 503

    • special charges, 501

    • stand-by arrangements and, 827

    • strengthened cooperative strategy, 840–46, 849–50, 850–51

    • suspension of voting rights, 843, 845

    • technical assistance suspension, 853

  • Overdue payments to the Fund. See Overdue financial obligations to the Fund

P

  • Paris Club

    • Agreed Minute, 117

    • debt rescheduling and Fund arrangements or programs, 842

    • debtors’ negotiations with, 116

    • PRGF qualification for assistance, 260

    • rescheduling discussions, 743

    • rescheduling in the absence of Fund arrangement, 843

    • rescheduling operations, Fund opposition to matching, 442

    • settlement of disputes between Fund members and Fund neutrality, 117

  • Payments arrears of a member to other (non-Fund) creditors

    • Fund lending into nonsovereign arrears, 448–54

    • Fund lending into sovereign arrears, 448–54

    • Fund policies and procedures, 448–54

    • performance criteria, 446

  • Payments arrears to the Fund. See Overdue financial obligations to the Fund

  • Payments arrears, capital transfers. See Capital transfers

  • Payments arrears, member’s failure to provide foreign exchange for current international transactions. See Exchange restrictions

  • Payments arrears, settlement of disputes between members, 116

  • Payments restrictions. See Exchange restrictions

  • Performance criteria under Fund arrangements

    • accuracy of information, 354

    • conditionality guidelines, 335

    • debt limits, 386

    • definition, 340

    • first credit tranche, not subject to, 380

    • number and content of, 340

    • omitted in stand-by arrangements within first credit tranche, 379

    • phasing, relationship, 384–85

    • reporting on implementation, confidentiality relating to, 350

    • side letters, 351

    • structural performance criteria not applicable, 343

    • waiver for nonobservance, 341, 352, 354

    • waiver of applicability, 342, 354

  • Phasing and performance criteria under Fund arrangements

    • omitted in stand-by arrangements within first credit tranche, 379

    • operational guidelines, 384

    • relationship, 384

  • PINs. See Public Information Notices

  • Policy framework papers. See also Poverty Reduction Strategy Papers

  • Policy Support Instrument (PSI), 178–90

    • application of Guidelines on Conditionality, 189

    • arrears, 189

    • Article IV consultation cycle, 72

    • assessment criteria, 186

    • definition, 184

    • documents required, 184

    • eligibility, 184, 185

    • implementation, 185

    • misreporting, 187

    • poverty reduction strategy documents, 184

    • review, 190

    • side letters, 189

    • structural assessment criteria not needed for monitoring, 191

    • termination, 189

  • Position in the Fund, 483

  • Post-Catastrophe Debt Relief Trust

    • debt flow relief, 327

    • debt stock relief, 327

    • eligibility, 326

    • establishment, 323

    • flexibility in de-escalation policy with respect to overdue payments to the Fund, 854

    • purposes, 324

    • Qualifying Catastrophic Disaster, 327

    • reimbursement to General Resources Account, 867

    • Special Disbursement Account, 325

    • Umbrella Account, 333

  • Post-conflict emergency assistance, 277, 281, 314, 423–32, 435–37, 438–42

  • Post-Conflict Emergency Assistance Subsidy Account for PRGF-Eligible Members

    • establishment, 314

    • fees, none, 319

    • instrument to establish, 314–20

    • investment of resources, 317

    • purpose, 314

    • rate of charge subsidy, 317

    • resources, 315

    • SDRs, use of, 320

    • settlement of questions, 320

    • termination, 319

    • use of resources, 316

  • Post-Program Monitoring

    • Article IV consultation, 373

    • publication policies, 373

  • Post-SCA-2 Administered Account

    • adoption of Instrument to establish, 321

    • instrument to establish, 321–23

  • Pound sterling

    • freely usable currency, 856

    • weight in SDR valuation basket, 791

  • Poverty and Growth Reduction Trust

    • cost of administering, 537

  • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust. See also Enhanced Structural Adjustment Facility (ESAF) Trust; Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • contributions, value date for operations and transactions, 246

    • decision waiving the applicability of a performance criterion, 245

    • establishment, adoption of Instrument, 194

    • instrument to establish, 195

    • modalities of gold pledge under rights approach, 535

    • other provisions, 241

    • post-SCA-2 Administered Account, 322

    • prior actions, accuracy of information, 244

    • proposed decisions, 296

    • repayment expectation, 242

    • transformation of ESAF to PRGF, 242–44

    • transformation to Poverty Reduction and Growth Trust, 191

    • waiver of performance criteria, accuracy of information, 244–45

  • Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) Trust loans

    • performance criteria, 245, 250

    • performance criteria, accuracy of information, 244–45

    • prior action, accuracy of information, 244

    • repayment expectation, 242

    • waiver of applicability or for nonobservance of performance criterion, 244

  • Poverty Reduction and Growth Trust

    • accuracy of data to assess observance of performance criteria, 245

    • assistance, amount of, 203

    • assistance, eligibility and conditions, 198

    • eligibility criteria, 525

    • Exogenous Shocks Facility, assistance under, 233

    • Extended Credit Facility, 192

    • instrument to establish, 195

    • interest rate structure, review, 234

    • loans, terms of, 207

    • misreporting and noncomplying disbursements, 227

    • Note Purchase Agreement, 240

    • overdue financial obligations, 230

    • Rapid Credit Facility, 196

    • Subsidy Accounts, 213

  • Poverty Reduction Strategy (PRS). See also Poverty Reduction Strategy Papers (PRSPs)

    • conflict-affected states, special requirements, 292

    • goals, 290

    • Millennium Development Goals (MDGs), achievement of, 290

    • review, 289

  • Poverty Reduction Strategy Papers (PRSPs). See also Poverty Reduction Strategy (PRS)

    • core principles, 289

    • definition, 257

    • progress, 283

    • role in HIPC initiative, 260

    • role in PSI operations, 184

  • Precautionary and Liqudity Line

    • conditionality, 426

  • Precautionary and Liquidity Line

    • access limits, 427

    • balance of payments need, 427

    • duration, 426

    • eligibility, 425

    • establishment to replace Precautionary Credit Line, 414

    • relationship between performance criteria and phasing not applicable, 384

    • review no later than November 2012, 432

    • safeguard assessment, 431

    • terms and conditions, 425

  • Precautionary Credit Line

    • Article IV consultation cycle, 72

    • repealed, 431

    • review (2011), 414

    • review of decision, 413

  • Preferred creditor status of Fund, 277, 440, 831, 839, 843

  • Press Notices. See Public Information Notices

  • PRGF. See Poverty Reduction and Growth Facility

  • PRGF-ESF Trust. See Poverty Reduction and Growth Facility and Exogenous Shocks Facility Trust

  • Prior actions

    • accuracy of information regarding implementation, 355

    • definition, 339

    • implementation under PRGF, 244

    • reporting on implementation, confidentiality relating to, 350

    • side letters, 351

    • use in emergency financing mechanism, 370

    • use in enhanced structural adjustment facility, 250

    • use in Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility, 244

    • use in Policy Support Instrument, 187

  • Program reviews, 340

    • ex-post assessments, 420

    • ex-post evaluations, multi-country, 420

    • lapse of time completion, 417

    • procedural deadlines for completion, 422

  • Prolonged use of Fund resources

    • Article IV consultations, 374

    • assessment, 374

    • definition, 375

    • precautionary arrangements, 375

  • Protracted balance of payments problem, 296, 518

  • PSI. See Policy Support Instrument

  • Public Information Notices (PINs)

    • presumed publication, 778

  • Publication

    • Article IV consultation staff reports, pilot project, 784

    • Letters of Intent, 778

    • PINs on use of Fund resources, 779

    • staff-monitored programs, presumption of publication, 69

    • suspension of voting rights and termination of suspension, 783

    • transparency policy, 765

  • Purchase transactions. See Reserve tranche purchases; Use of Fund resources

    • resumption of purchases under extended arrangement after decision of formal ineligibility, 407

    • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 402

    • suspension of transactions under extended arrangement, 407

    • suspension of transactions under stand-by arrangement, 403

    • temporary suspension under Article XXVII, effect on GAB, 548

Q

  • Quotas

    • ad hoc increases, 22

    • adjustment, first interval of five years, 3

    • Eleventh General Review, 3

    • Fourteenth General Review, 7

    • Ninth General Review, 843

    • payments of reserve assets in connection with subscription, 19

    • sales of SDRs by Fund to members for quota payments, 490

    • Seventh General Review, 20, 490, 805, 821

    • Sixth General Review, 20

    • voice and quota, reform of, 3

    • voting power and adjustment of quotas, 746

R

  • Rapid Credit Facility

    • access, 204

    • assistance under RCF, 201

    • interest rate, 234

    • low-income countries in fragile situations, 235

  • Rapid Financing Facility

    • balance of payments need, 423

  • Rapid Financing Instrument

    • access limits, 424

    • establishment to replace emergency assistance policy, 415

    • outright purchases, 424

    • terms and conditions, 423

  • Recent Economic Developments reports (REDs)

    • balance of payments consultations, WTO, 734

    • no longer included in Article IV consultation documentation, 65

    • transmittal to multilateral agencies, 734, 739, 740

  • Reconstitution of SDRs

    • abrogation of rules, 823

  • REDs. See Recent Economic Developments reports (REDs); Article IV consultations

  • Reform of the Executive Board, Resolution 66-2, 7

  • Regional Economic Outlooks (REOs), 45

  • Repayment expectations, PRGF Trust, 242, 256, 265

  • Reports on Observance of Standards and Codes (ROSCs)

    • anti-money laundering initiatives, 153, 159, 168

    • assessment procedures, 159

    • no longer circulated to Executive Directors in hard copy form, 151

    • principle of uniformity, 161

    • reports on observance associated with FATF-led assessments generally not designated as ROSCs, 161

    • surveillance, 78

  • Repurchase expectations

    • attribution of reduction of currency, 495

    • Compensatory Financing Facility, 491

    • failure to meet and extended arrangements, 353, 362

    • failure to meet and stand-by arrangements, 362

    • misreporting and noncomplying purchases, 351–54, 361

    • publication of failure to meet, 782

  • Repurchases. See also Repurchase expectations

    • access policy, 458–59

    • assessment of strength of members’ balance of payments and gross reserve position, 480

    • attribution of reductions in Fund’s holdings of currencies, 495–96

    • credit tranches, 493

    • early repurchases, guidelines, 495

    • emergency assistance, 493

    • extended arrangements, 396, 459

    • gold, acceptance in payment, 494

    • gold, obligation to pay, 494

    • procedures, 493

    • Schedule B, 494

    • SDRs, 494

    • selection of currencies by Fund, 482, 485

    • special charges on overdue repurchases, 493–95

    • stand-by arrangements, 459

    • timing of repurchases within a calendar month, 493

  • Reserve assets

    • payment in connection with subscriptions, 19

  • Reserve position, gross

    • assessment for purposes of designation plans, operational budgets, and early repurchases, 480

    • SDDS reporting, 620

  • Reserve tranche position

    • administrative accounts, 855

    • attribution of reductions in Fund’s holdings of currencies, 495, 496

    • balances held in Administrative Account, 855

    • extended arrangements, 855

    • remunerated position, 21

  • Reserve tranche purchases, exclusion of purchases and holdings

    • credit tranches, 855

    • extended arrangements, 855

    • General Arrangements to Borrow, 545

  • Resolutions. See Board of Governors Resolutions

  • Restrictions. See Exchange restrictions

  • Retention quotas, 587–89

  • Reviews under Fund arrangements

    • extended arrangement, 404

    • stand-by arrangement, 400

  • Revolving character of the Fund’s resources, 434, 458

  • Rights accumulation programs, 363, 846, 850, 851

    • gold pledge, 849

  • Rights approach

    • arrears to the Fund, reduction, 846

    • extension of availability, 854

    • gold pledge, 846

    • modalities of gold pledge for use of PRGF Trust resources, 535, 846

    • operational modalities, 846

    • PRGF-HIPC Trust eligibility, 259

    • PRGF-HIPC Trust qualification, 260

    • three-year period norm, 847

  • ROSCs. See Reports on Observance of Standards and Codes

  • Rules and Regulations

    • Rule G-1, fiscal agency, 547

    • Rule G-4, request for a purchase, 488

    • Rule I-6(4), rate of charge, 501, 503, 507, 510, 864

    • Rule I-6(4)(a), 507, 510

    • Rule I-6(4)(b), 507, 510

    • Rule I-10, rate of remuneration, 507, 510

    • Rule K-1, 701

    • Rule O-1, value of SDR, 794

    • Rule O-2, valuation of currencies in terms of SDRs, 514, 547, 794, 807, 808, 810, 812, 814

    • Rule O-2(a), 794

    • Rule O-10, operational budget, 481

    • Rule P-7, prescribed operation, 807, 809, 810, 812, 815, 816

    • Rule P-9, recording of SDR transactions, 320, 324, 799, 800, 801, 808, 810, 811, 813, 815, 816, 817

    • Rule R-1 through Rule R-6, rules for reconstitution (abrogated), 823

    • Rule T-1, 511

S

  • SAF. See Structural Adjustment Facility

  • Safeguard assessment process

    • Rapid Financing Instrument, 424

  • Safeguards assessment policy

    • review of experience, 2010, 366

  • Safeguards assessment process

    • audits, 357, 358, 359

    • confidentiality, 359, 366

    • distinction between first and second stages no longer applicable, 365

    • first stage, 358, 365

    • information/documents to obtain from central banks, 359

    • Precautionary and Liquidity Line, 431

    • reports to remain confidential, 362

    • review, 360

    • second stage, 359, 365

  • Safeguards, use of Fund resources

    • benchmarks based on Code of Good Practices on Transparency in Monetary and Financial Policies, 358

    • publication of audited central bank financial statements, 358

  • Sales of currencies of members indebted to the Fund

    • sale of currencies at the request of members with outstanding purchases, 487

  • Santiago Principles, 87

  • Schedule B, transitional provisions, 20, 494

  • Schedule D

    • paragraph 1(a), proposed amendment, 17

    • paragraph 5(e), proposed deletion, 17

    • paragraph 5(f), proposed amendment, 17

  • Schedule E

    • proposed amendment, 18

  • Schedule F, designation, 819

  • Schedule G, paragraph 1(a), reconstitution, 823

  • Schedule J, settlement of accounts with withdrawing members, 548

  • Schedule K, administration of liquidation, 548

  • Schedule L

    • suspension of voting rights, 876

    • paragraph 1(b), proposed amendment, 18

    • paragraph 3(c), proposed amendment, 18

  • SDA. See Special Disbursement Account

  • SDDS. See Special Data Dissemination Standard

  • SDRs. See Special drawing rights

  • Second Amendment

    • Article IV (surveillance over exchange rate policies), 20

    • payment of reserve assets in connection with subscription, 20

    • repurchase under Schedule B, 494

    • surveillance over exchange rate policies, 20

  • Security reasons, exchange restrictions for, 585

  • Settlement of disputes between members relating to external debt

    • comparable treatment of creditors, 116

    • Paris Club, 116

    • role of the Fund, 115–18

  • SFF. See Supplementary Financing Facility

  • Short-Term Liqudity Facility

    • repeal, 347

  • Side letters, use of Fund resources, 347–50

  • Sovereign default, 369, 448

  • Sovereign wealth funds

    • generally accepted principles and practices (GAPPs), 87

    • Santiago Principles, 87

  • Special accounts for administrative purposes

    • calculation of holdings of a member’s currency, 745

  • Special Contingent Account. See also Burden sharing

    • additions to, 829

  • Special Data Dissemination Standards (SDDS)

    • access by the public, 620, 627

    • balance-sheet approach, 76

    • coverage, 622

    • Data Dissemination Bulletin Board, 629

    • debt sustainability assessments, 76

    • integrity, 627

    • liquidity management, 76

    • periodicity and timeliness, 623

    • purpose and framework, 621

    • quality, 628

    • review (2012), 689

    • SDDS Plus tier, 689

    • subscription, 629

  • Special Disbursement Account (SDA)

    • ESAF-HIPC Trust, 270

    • investment, 516

    • Post-Catastrophe Debt Relief Trust, 325

    • PRGF-HIPC Trust, 256, 269

    • repayment expectation under PRGF Trust, failure to meet, 242

    • Structural Adjustment Facility administration, 516

    • termination and transfer of resources from Trust Fund, 858

    • termination of assistance from SAF in conjunction with loans from ESAF Trust, 534

    • transfer of resources to the ESAF Trust and retransfer to the SDA, 532

  • Special drawing rights (SDRs)

    • allocation for first basic period, 803

    • allocation for the ninth basic period, 805

    • allocation for third basic period, 804

    • contributions to PRGF-HIPC Trust, 259

    • currency reference rates, 792

    • currency weights, 791

    • designation review rules, 818

    • designation rules, revision, 821

    • euro, weight in valuation basket, 791

    • harmonization of holdings, 819

    • holders prescribed by the Fund

      • African Development Bank, 799

      • African Development Fund, 799

      • Andean Reserve Fund, 798

      • Arab Monetary Fund, 799

      • Asian Development Bank, 799

      • Bank for International Settlements, 798

      • Bank of Central African States, 799

      • Central Bank of West African States, 799

      • East African Development Bank, 799

      • East Caribbean Currency Authority, 799

      • Eastern Caribbean Central Bank, 799

      • European Central Bank, 799

      • International Bank for Reconstruction and Development (World Bank), 799

      • International Development Association, 799

      • International Fund for Agricultural Development, 799

      • Islamic Development Bank, 799

      • Nordic Investment Bank, 799

    • Japanese yen, weight in valuation basket, 791

    • means of repayment by members on indebtedness under loan agreements, 857

    • media of payment for charges in GRA, 499

    • method of valuation, 793

    • other holders, acceptance, holding or use, 795

    • payment of net charges and assessment in the SDR Department for FY ended April 30, 1982, 824

    • payment of subscriptions, 19

    • pound sterling, weight in valuation basket, 791

    • PRGF-HIPC Trust unit of account and media of payment, 258

    • reconstitution, abrogation of rules, 823

    • reserve asset payments, 19

    • sales by the Fund for payment of subscriptions, 19

    • sales by the Fund for the payment of charges, 500

    • terms and conditions for accepting, holding, or using SDRs, 795

    • transfers of SDRs for purchases under Article V, Section 3(f), 481

    • U.S. dollar, weight in valuation basket, 791

    • use in donations, 816

    • use in ESAF Trust operations or under an administered acount, 801

    • use in forward operations, 815

    • use in loans, 810

    • use in payment of Trust Fund obligations, 745, 857

    • use in pledges, 810

    • use in PRGF-HIPC Trust operations or under an administered account, 801

    • use in repurchases, 493

    • use in settlement of financial obligations, 807

    • use in Structural Adjustment Facility operations, 800

    • use in subsidy payment from SFF Subsidy Account, 800

    • use in swap operations, 814

    • use in transfers as security for the performance of financial obligations, 812

    • valuation basket, guidelines for calculation of currency amounts, 790

    • valuation basket, guidelines for calculation of currency amounts, revised guidelines, 790

    • valuation of US dollar for purposes of Rule O-2(a), 794

    • value of SDR, method of collecting exchange rates for calculation for purposes of Rule O-2(a), 794

  • Special Reserve

    • placement of income of GRA in FY 2012, 760

  • Specification of currencies, 485

  • SRF. See Supplemental Reserve Facility

  • Staff reports on Article IV consultations. See also Surveillance; Enhanced surveillance

    • document exchange with WTO, 740

    • military expenditure, 109

    • presumed publication, 778

    • transmittal to international agencies, 740, 742

  • Staff reports on enhanced surveillance

    • transmittal by members to creditors, 65–66, 120, 147

  • Staff reports on use of Fund resources and post-program monitoring

    • publication policy, 778

  • Staff-monitored programs (SMPs), 69

  • Standards and Codes. See also Financial Sector Assessment Program; Reports on Observance of Standards and Codes; and Special Data Dissemination Standard (SDDS)

  • Standards and Codes Initiative

    • crisis resolution and deposit insurance, new policy areas, 171

    • review (2011), 170

  • Stand-by arrangements. See also Access policy, use of Fund resources; Use of Fund resources

    • access to credit tranches, normally through, 379

    • arrangements not international agreements, 338

    • blackout periods, reduction of, 397

    • conditionality guidelines, 335

    • consultation clauses, 339, 402

    • contractual connotation avoidance, 338

    • duration, normal, 379

    • emergency purchases and, 433, 434, 437

    • external debt performance criteria, guidelines, 386

    • first credit tranche, 379

    • form, standard, 400

    • ineligibility, 403, 827

    • misreporting and noncomplying purchases, 351–54, 354, 355

    • noncomplying purchases, 353

    • nondiscriminatory treatment of members, 337

    • overdue financial obligations to the Fund, 827

    • performance criteria, accuracy of information, 355

    • performance criteria with respect to external debt, 392, 401

    • period for, 379

    • phasing, 379

    • policies and procedures, 379

    • PRGF-HIPC Trust eligibility, 259

    • PRGF-HIPC Trust qualification, 260

    • prior actions, accuracy of information, 354

    • program evaluation, 342

    • repurchase, 403

    • repurchase expectation, 352, 353, 403

    • reserve tranche purchases, 855

    • review, 400

    • structural performance criteria not applicable, 343

    • suspension of right to engage in transactions, 403

    • uniform treatment of members, 337

    • waiver for nonobservance of performance criteria, 352, 354, 355

    • waiver of applicability of performance criteria, 354, 355

  • Stand-by Credit Facility

    • interest rate, 234

  • Strengthened cooperative strategy

    • de-escalation of remedial measures, 851

    • procedures, 840

    • reversibility of actions, 850

    • rights approach eligibility, extension, 854

  • Structural Adjustment Facility (SAF)

    • access, potential, 518, 523

    • amounts of assistance, 517

    • commitment period, 518

    • commitment period, new, 522

    • disbursements, 519, 522

    • eligible members list, 523

    • income from investment and loans, 532

    • interest, 520

    • loans under Enhanced Structural Adjustment Facility (ESAF), 521

    • protracted balance of payments problem, 296, 518

    • purposes, 517

    • qualification for assistance, 518

    • resources, 517

    • SDRs, use in operations, 800, 801

    • terms of loans, 519

  • Subscriptions. See also Quotas

    • accounting by members, 19

    • ownership of gold and currency, 19

    • reserve asset payments, 19–22

  • Subsidy Account. See Supplementary Financing Facility Subsidy Account

  • Summings up and concluding remarks for policy items

    • review and finalization process, 62

  • Supplemental Reserve Facility (SRF)

    • exchange rate for payment of subsidies, 886

    • overdue financial obligations, 402, 407

    • repeal, 347

  • Supplementary Financing Facility (SFF) Subsidy Account, 860

    • eligible members, 863

    • instrument to establishment, 860

    • investment, 862

    • means of subsidy payments, 868

    • rescheduling in cases of serious hardship, 859

    • resources, 860

    • SDRs, use of, 800

    • subsidy amount, 862

    • suspension of transfers and re-transfer of surplus, 867

    • transfer from Special Disbursement Account, 861, 867

  • Surveillance. See alsoArticle IV consultations; Enhanced surveillance

    • 1977 Decision, review of and proposal, 24

    • balance-sheet analysis, 76

    • bilateral surveillance over members’ policies, 33

    • bilateral surveillance, 2007 decision, 33

    • bilateral, 2007 decision, transitional issues, 63

    • Central African Economic and Monetary Union, 93

    • cross-border capital flows, 54

    • data provision, 74

    • Eastern Caribbean Currency Union, 95

    • euro area, 90, 92

    • extension of theree-month period, 79

    • principles for the guidance of members’ policies, 38

    • principles for the guidance of the Fund, 35

    • priorities, 2008-2011, 48

    • procedures, 40

    • publicity, 783

    • review of general implementation, two-year intervals, 66, 69

    • ROSCs, 75, 78

    • Special Data Dissemination Standards, 77

    • stability assessments under FSAP mandatory, 131

    • stability assessments under FSAP, integration of, 134

    • staff-monitored programs, 69

    • systematically important financial sectors, 135

    • three-month rule, 78

    • timetable of procedures, 830

    • triennial review, 2008, 43

    • triennial review, 2011, 51

    • West African Economic and Monetary Union, 96

  • Suspension of membership, 836

  • Suspension of voting rights

    • participation in International Monetary and Financial Committee, 876

  • Swiss National Bank

    • GAB participant, 551, 555

    • NAB participant, 576

  • Systematically important financial sectors

    • financial stability assessments in surveillance, 135

  • Systemically Important Financial Sectors

    • conceptual framework, 138

T

  • Technical assistance

    • cooperation with Trusteeship Council, 900

    • exchange rate system simplification, 604

    • Framework Administered Account for, 173

    • members not cooperating with the Fund, 835, 836

    • post-conflict countries, 435

    • transmittal of reports to international agencies, 740

  • Terrorism financing. See Combating the Financing of Terrorism

  • Trade. See also World Trade Organization

    • structural maladjustments in trade, Extended Fund Facility, 393

    • Trade Integration Mechanism, 478

    • trade-related balance of payments adjustments, 478

  • Trade Integration Mechanism, 478

  • Trade restrictions

    • avoidance of escalation, 595, 887

    • emergency assistance, 423, 434

    • ESAF, 250

    • import restrictions for balance of payments reasons, extended arrangements, 407

    • import restrictions for balance of payments reasons, GATT, 592

    • import restrictions for balance of payments reasons, stand-by arrangements, 402

    • WTO involvement, 734

  • Tranche policies

    • first credit tranche, 380

    • floating tranche, 342

  • Transferability of claims

    • General Arrangements to Borrow, 555

  • Transparency. See also Publication

    • archives, access by outside persons, 692

    • foreign reserves management, 358

    • governance, 99

    • policy on disclosure and information, 765

    • safeguards for use of Fund resources, 359

  • Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries and for Interim ECF Subsidy Operations (PRG-HIPC Trust)

    • amendment of PRGF-HIPC Trust to PRG-HIPC Trust, 254

    • instrument to establish, 254

  • Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • administration of, 267

    • amendment of, 269

    • Annual Progress Report (APR), 257

    • assistance amount, 262

    • completion point, 256, 263, 264, 265, 266, 275, 277, 278

    • contributions by other donors, 271

    • contributions to, 309

    • debt sustainability, 256, 262, 265, 266, 276, 277, 285

    • debt sustainability analysis, 255

    • debt-to-exports ratio, 256, 265, 279

    • debt-to-revenue ratio, 256

    • decision point, 255, 260, 262, 263, 274, 277, 282, 285, 286

    • eligibility, 259, 285

    • grace period on loans, 266

    • grants and loans, 259

    • Guidelines on Misreporting, 257

    • implementation, progress, 277–81

    • implementation, review, 281–85

    • instrument to establish, adoption of, 253

    • interest, 256, 266

    • interim assistance, 263

    • Interim Poverty Reduction Strategy Papers (I-PRSPs), 257, 283, 284

    • investment of resources, 258, 268, 271

    • Joint Staff Advisory Note (JSAN), 257

    • liquidation, 269

    • maturity of loans, 266

    • operation and liquidation, 269

    • Paris Club, 256, 260, 262, 278, 283, 287, 288

    • performance-related conditions, 264, 271

    • Poverty and Social Impact Analysis (PSIA), 291

    • Poverty Reduction Strategy Papers (PRSPs), 257, 260, 278, 281, 289

    • purposes, 258

    • qualification for assistance, 260

    • rescheduling of payments not allowed, 266

    • retransfers authorized, 271

    • SDRs, use in operations, 269, 801

    • self-sustained operations, 256, 269, 281

    • special charges on overdue interest and repayments, 501

    • Special Disbursement Account, transfers from, 258

    • streamlining preliminary HIPC documents, 285

    • subsidies for interim PRGF operations, 267

    • terms of assistance, 265

    • track record of performance, 276, 278, 282, 285, 288

    • transformation of ESAF-HIPC Trust to PRGF-HIPC Trust, 242

    • Trust Account and resources, 258

  • Trust for Special PRGF Operations for the Heavily Indebted Poor Countries and the Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • status of implementation (2011), 293

  • Trust for Special PRGF Operations Heavily Indebted Poor Countries and for Interim PRGF Subsidy Operations (PRGF-HIPC Trust)

    • completion point, 286

    • decision point, 286

    • eligibility and eligible members, 288

    • implementation status, 286

    • sunset clause, 270, 288

  • Trust Fund

    • final direct distribution of profits, 858

    • means of repayment by members on their indebtedness under loan agreement, 857

    • overdue interest and repayments, 501

    • SDRs, use in payment of Trust Fund obligations, 799

    • special charges on overdue financial obligations, 500–501, 858

    • termination and transfer of resources to Special Disbursement Account, 858

    • terms of repayment of final loan disbursement and amendment of Trust instrument, 860

U

  • Undue delay in availability or use of foreign exchange, 539, 593

  • Uniformity of treatment principle

    • post-conflict assistance, 440

    • settlement of disputes among members, comparable treatment, 116

    • use of Fund’s general resources, 337

  • United Nations

    • agreement with the IMF, 897–903

    • Convention on the Privileges and Immunities of the Specialized Agencies, 904–21

    • exchange of documents with, 899

    • UNDP, exchange of documents with, 742

    • Uniting for Peace General Assembly Resolution, 872

  • United States (U.S.) dollars

    • financial statements of Framework Account, expressed in, 176

    • maintenance of value, rates for computation, 514

    • means of payment by members on indebtedness under Trust Fund loan agreements, 857

    • medium of payment, loan disbursements, repayments, and interest under GAB, 520

    • medium of payment, MDRI-I Trust, 301

    • medium of payment, MDRI-II Trust, 309

    • medium of payment, PRGF-HIPC Trust, 259

    • payment of special charges on overdue payments, Trust Fund loans, 502

    • payments of interest on members’ indebtedness under Trust Fund loans, 857

    • valuation in terms of special drawing rights as per Rule O-2(a), 794

    • weight in SDR valuation basket, 791

  • Use of Fund resources. See also Access policy, use of Fund resources; Charges; Compensatory Financing Facility; Conditionality; Contingent Credit Lines; Emergency assistance; Emergency financing mechanism; Extended arrangements; Extended Fund Facility; First credit tranche; General Resources Account; Misreporting and noncomplying purchases; Purchase transactions; Repurchases; Reserve tranche purchases; Stand-by arrangements; Supplemental Reserve Facility; Supplementary Financing Facility; Systemic Transformation Facility; Waiver of limitation of 200 percent of quota under Article V, Section 3(b)(iii)

    • accordance with purposes of the Fund, 334

    • arrears, resolving the problem of, 838

    • authority of the Fund to use its resources

      • Resolution, 871

      • resolving problem of arrears, 334

    • capital transfers, 334, 538

    • concessional financing, eligibility, 529

    • conditionality guidelines, 335–43

    • financing current account deficits, 334

    • Flexible Credit Line, 344, 409

    • form, extended arrangement, 404

    • form, stand-by arrangement, 400

    • inelibility, effect on purchases under extended arrangement, 407

    • ineligibility under Article V, Section 5, 488

    • ineligibility, effect on purchases under stand-by arrangement, 403

    • interpretation of Articles of Agreement, 334

    • limitation and ineligibility under Article V, Section 5, 488

    • meaning of “consistent with the provisions of this Agreement” under Article V, Section 3, 334

    • meaning of “represents,” 335

    • meaning of “represents” that a member has a need to make purchases, 335

    • nondiscriminatory treatment of members, 337

    • performance criteria and phasing, 384

    • postponement and limitation under Article V, Section 5, 488

    • repayment expectation under PRGF-ESF Trust, failure to meet, 242

    • repeal of CFF, SRF, and Short-term Liquidity Facility, 346

    • resumption of purchases under extended arrangement after decision of formal ineligibility, 407

    • resumption of purchases under stand-by arrangement after decision of formal ineligibility, 403

    • safeguards, strengthening of, 355–60

    • side letters, 347, 350

    • suspension of exchange transactions, effect on General Arrangements to Borrow, 548

    • suspension of transactions under extended arrangement, 407

    • suspension of transactions under stand-by arrangements, 403

V

  • Voluntary Declaration on Trade and Other Current Account Measures, 887

  • Voting power majority

    • compulsory withdrawal, 842

  • Voting rights, suspension. See Suspension of voting rights

W

  • Waiver of performance criteria

    • applicability, 341, 354, 355

    • nonobservance, 186, 354, 355

  • Waiver of special charges, 501

  • World Bank (International Bank for Reconstruction and Development)

    • agreement with WTO, 927, 928, 930

    • Bank-Fund collaboration, 111, 707, 717, 718, 724

    • collaboration with Fund and WTO, 737, 738

    • collaboration with Fund on corporate sector vulnerability analysis, 66

    • collaboration with Fund on shifting resources from military, 111

    • Development Committee, 879

    • ESAF policy framework process, 250

    • Financial Sector Assessment Program, 123

    • Fund-Bank Concordat, 705

    • governance, 100, 101, 107

    • HIPC Initiative, 275, 281, 284

    • investment by Fund of currencies received by SFF Subsidy, 867

    • military expenditures, 111

    • observer status in the Fund, 717

    • post-conflict assistance, 435

    • prescribed holder of SDRs, 799

    • PRGF-HIPC Trust, 255

    • rights approach, 847

    • suspension of voting rights, 843

  • World Economic Outlook (WEO)

    • military spending, 109

    • multilateral surveillance, 45, 67, 336

    • WTO observer status, 934

  • World Trade Organization (WTO)

    • balance of payments consultations, 734

    • coherence in global policymaking, 734

    • consistency of policy advice and obligations, 735

    • cross-conditionality, avoidance, 736

    • document exchange, 739

    • Fund staff observer at WTO meetings, 934

    • guidelines/framework for Fund staff collaboration, 733

    • IMF-WTO Agreement, text, 40

    • lapse of time procedure in transmittal of supplementary information to WTO, 734

    • observer status, 738

    • resolution of open jurisdictional issues, 737

    • suspension of exchange transactions, effect on General Arrangements to Borrow, 548

    • suspension of transactions under extended arrangements, 407

    • suspension of transactions under stand-by arrangements, 403

    • WTO staff observer at Executive Board meetings, 933

  • WTO. See World Trade Organization

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