Selected Decisions (14th Ed)
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
April 1989
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Index

(* indicates Decision as amended; page numbers preceded by “A” can be found in the Annex.)

Decision No.Page
A Accounting by members for transactions with the Fund170-3
Accounts:
Administrative accounts, balances held not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency7060-(82/23)357
Borrowed Resources Suspense Accounts6844-(81/75)284
6845-(81/75)285
7188-(82/114)A109
General Account; see General Resources Account, below
General Resources Account:
Adjustment of currency holdings of members5590-(77/163)200
Exchange rate for Fund computations5590-(77/163)200
Level of Fund SDR holdings, maintenance6275-(79/158) G/S158
7626-(84/23) S162
7941(85/50) S162
8265-(86/70) S162
8574-(87/64) S163
Purchase of SDRs for payment of charges*5702-(78/39) G/S177
Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185) G/TR378
Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)359
Sales of SDRs for payment of quota increases by members under 7th General Review of Quotas6663-(80/160) S167
Special Contingent Account, see Special Contingent Account
Special Disbursement Account, transfer of resources to ESAF Trust and retransfer to Special Disbursement Account8760-(87/176)225
Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR378
6704-(80/185) TR376
Investment7990-(85/81)202
8029-(85/105)202
Structural adjustment facility; see Structural adjustment facility
Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S352
Subsidy Accounts:
Oil facility*4773-(75/136)390
Final review and report on termination7420-(83/82)392
7484-(83/117)393
Supplementary financing facility:
Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS388
Instrument6683-(80/185) G/TR378
Investment of currencies*6854-(81/78) SBS385
Means of payments8185-(86/9) SBS/S386
Subsidy payments, July 1, 1983-June 30, 19847754-(84/108) SBS386
Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS387
Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS387
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS385
Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR376
Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
Adjustment process, international, review5392-(77/63)12
Administered accounts, see Article V, Section 2(b), administration of deposits provided by members
Administrative accounts; see Accounts
African Development Bank and African Development Fund, prescription as holders of SDRs8318-(86/104) S329
Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S329
Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S329
Arrears to the Fund, see Overdue Obligations to Fund Articles of Agreement1
Amendment, SecondB/G Res. 29-8400
B/G Res. 29-10403
Article I, purposes of the Fund287-351
433-(55/42)292
1034-(60/27)297
*4377_(74/114)60
*4773-(75/136)390
5069-(76/72)360
Article III, Section 2, adjustment of quotas408-23
Article III, Section 2(a), general review of quotasB/G Res. 31-2417
B/G Res. 34-2426
B/G Res. 38-1435
B/G Res. 43-1441
B/G Res. 44-1444
Article IV:
Consultations5392-(77/63)9-15
6026-(79/13)15
6056-(79/38)54
6790-(81/43)313
7427-(83/83)19-20
7646-(84/40)16
7939-(85/49)17
Consultations, bicyclic procedureChairman’s Summing-up EBM/87/10020
Exchange arrangements5392-(77/63)11
5712-(78/41)8
Article IV, Section 3, surveillance over exchange rate policies*5392-(77/63)10
6026-(79/13)15
Article V, Section 1*1289-(62/1)238
Article V, Section 2(b), administration of deposits provided by members8895-(88/90) ESAFA41
8933-(88/117)ESAFA48
9030-(88/173) ESAFA57
Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund*1289-(62/1)234
Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-351
Article V, Section 3(b)(ii), “represent” that a member has a need to make purchases284-452
Chairman’s Summing-up EBM/87/17644
Article V, Section 3(b)(iii), waiver*4377.(74/114)62
5508-(77/127)71
6783-(81/40)77
8955-(88/126)112
Article V, Section 3(d):
Sale of members’ currencies for repurchases5704-(78/39)169
Selection of currencies in purchases6273-(79/158) G/S155
6274-(79/158)156
6352-(79/183)159
6774-(81/35)163
Article V, Section 3(f), transfers of SDRs6275-(79/158) G/S158
Article V, Section 5, limitation on use of Fund’s resources284-3166
286-1166
7842-(84/165108
Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S167
Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)156
6774-(81/35)163
Article V, Section 7, repurchases*1289-(62/1)234
*5703-(78/39)173
5704-(78/39)168
5809-(78/88)175
Article V, Section 1(b), early repurchases5704-(78/39)168
6172(79/101)170
6273-(79/158) G/S155
Article V, Section 7(i), guidelines for selection of currencies used in repurchases6274-(79/158)156
6774-(81/35)164
Article V, Section 8, media of payment of charges*5702-(78/39) G/S177
Article V, Section 8(b), charges*5703-(78/39)172
6008-(79/3)283
7060-(82/23)357
Article V, Section 8(b), (c), and (d), charges4239-(74/67)177
Article V, Section 9(a), remuneration7060-(82/23)357
Article V, Section 11, adjustment of Fund’s holdings of members currencies5590-(77/163)201
Article V, Section 12(f)(ii), balance of payments assistance on special terms to low-income developing members in difficult circumstances6704-(80/185) TR377
Article VI, Section 1, use of Fund’s resources541-(56/39)229
1238-(6l/43)51
Article VI, Section 3, controls on capital transfers541-(56/39)229
Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)67
5509-(77/127)274
6783-(81/40)74
6843-(81/75)A76
Article VII, Section 1, borrowing by Fund*1289-(62/1)230
7677-(84/64)A110
8897-(88/93)272
Article VIII:
Bilateralism433-(55/42)292
Consultations5392-(77/63)13
8858-(88/64)18
Retention quotas201-(53/29)293
Article VIII and Article XIV1034-(60/27)297
Article VIII, Sections 2,3, and 4, acceptance of obligations1034-(60/27)297
Article VIII, Section 2(a):
Payments restrictions144-(52/51)291
3153-(70/95)299
Article VIII, Section 2(b), unenforceability of exchange contracts446-4289
Article VIII, Section 3, multiple currency practices237-2302, 306
5712-(78/41)9
6790-(81/43)312, 313
Article VIII, Section 7B/G Res. 34-3449
Article IX, Section 7, privilege for communications534-3316
Article XII, Section 3(b)(i) and 3(f)2-1318
Article XII, Section 3(c):
Additional appointed Executive Directors*574-2318
Determination of member’s entitlement to appoint Executive Director7060-(82/23)357
“The preceding two years,” meaning597-4319
Article XIV:
Articles VIII and XIV1034-(60/27)297
Bilateralism433-(55/42)292
Consultations5392-(77/63)13
8858-(88/64)18
Retention quotas201-03/29)293
Article XIV, Section 11034-(60/27)297
Article XIV, Section 2:
Multiple currency practices237-2307
Payments restrictions144-(52/51)291
3153-(70/95)299
Transitional arrangements446-4240
Article XIV, Section 3117-1321
Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S326
6484-(80/77) S329
6485-(80/77) S330
6486-(80/77) S329
7629-(84/25)248
8642-(87/101)S/TR330
8831-(88/56) ESAFA7
8832-(88/56) ESAFA14
8833-(88/56) ESAFA20
8937-(88/118) ESAF344
Article XVIII, allocation of special drawing rightsB/G Res. 24-12445
B/G Res. 34-3455
Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S332
6368-(79/191)S332
Article XIX, Section 2(c):
Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S326
Operations and transactions in special drawing rights between participants*6000-(79/1) S333
6001-(79/1)S334
6053-(79/34) S336
*6054-(79/34) S338
6336-(79/178)S340
6337-(79/178)S341
6437-(80/37) S342
8186-(86/9)SBS/S343
Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S346
Article XIX, Section 5(a)(i), designation plans6273-(79/158) G/S155
Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S350
Article XIX, Section 7(a), calculation of exchange rates*1289-(62/1)237
7041-(82/8)G/S351
Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S326
Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S352
Article XXIIB/G Res. 34-3449
Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S328
Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)354
Article XXVI, Section 3*1289-(62/1)238
Article XXVII*1289-(62/1)238
Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements*270-(53/95)88
Article XXIX (a), list of interpretations underxxxiii
Article XXX(c):
Exclusion of purchases and holdings under buffer stock facility5591-(77/163)355
Exclusion of purchases and holdings under compensatory and contingency financing facility*8955-(88/126)355
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)357
Exclusion of purchases and holdings under extended facility6830-(81/65)356
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)356
Exclusion of purchases under oil facility5371-(77/51)356
Exclusion relating to purchases in credit tranches6830-(81/65)356
Article XXX(f), freely usable currencies5719-(78/46)358
Schedule B, repurchases*5703-(78/39)173-74
5704-(78/39)169
6008-(79/3)283
Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)359
Schedule F, rules for designation6209-(79/124) S347
Schedule G, rules for reconstitution, abrogation6832-(81/65) S350
Schedule J*1289-(62/1)238
Schedule K*1289-(62/1)239
5288-(76/167)259
5387-(77/61)263
Schedule K, paragraph 15288-(76/167)259
5387-(77/61)263
Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S329
Assessments, payment in SDR Department; see Accounts, Special Drawing Rights Department, payment of net charges and assessments
Attribution of reductions in Fund’s holdings of currency*6831-(81/65)175
6774-(81/35)165
Review7704-(84/78)176
Audit:
Enhanced structural adjustment facility trust (ESAF Trust)8759-(87/176) ESAF36
Oil facility Subsidy Account*4773-(75/136)391
Supplementary financing facility Subsidy Account6683-(80/185) G/TR384
Trust Fund5069-(76/72)366
Augmentation; see Purchase transactions, Augmentation
B Balance of payments position:
Assessment for assistance from Trust Fund5069-(76/72)361-62
Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S155
Discrimination for balance of payments reasons955-(59/45)296
Bank for International Settlements: Borrowing agreement with Fund*6863-(81/81)A130
7677-(84/64)A144
7955-(85/60)A156
Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78) SBS385
Prescription as holder of special drawing rights6484-(80/77) S328
Trust Fund deposits denominated in SDRs5973-(78/189) TR370
Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S329
Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
Bicyclic consultation procedures; see Consultation with members
Bilateralism433-(55/42)292
Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below
Borrowing by the Fund:
Agreement with Bank for International Settlements*6863-(81/81)A130
7677-(84/64)A144
7955-(85/60)A156
Agreement with Bank of Korea9120-(89/40) ESAFA63
Agreement with Bank of Norway8833-(88/56) ESAFA17
Agreement with Bank of Spain8893-(88/90) ESAFA32
Agreement with Caisse Centrale de Coopération Economique of France8831-(88/56) ESAFA3
Agreement with central banks and other official institutions6864-(81/81)A133
Agreement with Export-Import Bank of Japan8832-(88/56) ESAFA8
Agreement with Government of Canada8894-(88/90) ESAFA37
Agreement with Japan7677-(86/64)A144
7955-(85/60)A156
8486-(86/205)A159
Agreement with Monetary Authority of Singapore9016-(88/164) ESAFA54
Agreement with National Bank of Belgium7677-(84/64)A144
7955-(85/60)A156
Agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
Amendment8460-(86/189)A128
Change in conversion arrangements7188-(82/114)A109
Supplementary Agreement7677-(84/64)A110
Extension of Commitment period8460-(86/189)A128
Agreement with Swiss Confederation8834-(88/56) ESAFA21
8835-(88/56)A21
Agreement with Swiss National Bank:
19765288-(76/167)254
19775387-(77/61)259
Interest, media of payment5331-(77/15)264
5488-(77/116)265
Transfer charges, media of payment5306-(77/2)265
5488-(77/116)265
Use of special drawing rights in repayment6485-(80/77) S330
Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75)A105
Borrowed Resources Suspense Accounts6844-(81/75)284
6845-(81/75)285
7188-(82/114)A110
Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)74
General Arrangements to Borrow:
Associated borrowing arrangements7403-(83/73)265
“Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing*7040-(82/7)286
Renewal, sixth8733-(87/159)244
Saudi Arabia, association agreement7403-(83/73)265
Renewal8897-(88/93)272
Transferability of claims7629-(84/25)248
Swiss National Bank, participation of*1289-(62/1)241
Switzerland, association of1712-(64/29)250
Transferability of claims; see Transferability of claims
Use of credit arrangements for nonparticipants*1289-(62/1)240
Guidelines7040-(82/7)286
Issuance of bearer notes by Fund6843-(81/75)A76
6864-(81/81)A133
Supplementary financing facility:
Authorization to make calls6006-(79/3)282
Interest payment procedure6163-(79/96)283
Meaning of “net creditor position in the Fund”6008-(79/3)282
Replenishment of holdings of currencies5509-(77/127)274
Subsidy Account6683-(80/185) G/TR378
Buffer stock financing facility*2772-(69/47)142
Access limit and review*2772-(69/47)143
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)355
International Natural Rubber Agreement, 19797246-(82/147)150
International Sugar Agreement, 19775597-(77/171)147
International Tin Agreements:
4th3179-(70/102)143
335 W71/51)144
5th5127-(76/91)145
6th7247-(82/147)145
Repurchases*5703-(78/39)172
6th International Tin Agreement7247-(82/147)146
1977 International Sugar Agreement5597-(77/171)149
International Natural Rubber Agreement, 19797246-(82/147)150
Burden sharing*8348-(86/122)182
8515-(87/23)189
Managing Director’s Remarks186, 188
Adjustment for quarter ended April 30, 19888878-(88/84)189
Implementation for FY 19898861-(88/67)193
for FY 19909135-(89/46)197
Net income target:
for FY 19888781-(88/12)190
for FY 19898861-(88/67)193
Principles of “burden sharing”8861-(88/67)193
Rate of charge:
for FY 19898861-(88/67)193
retroactive reduction for FY 19878618-(87/90)190
for FY 19888781-(88/12)190
8879-(88/84)190-191
Retroactive reduction of rate of charge8618-(87/90)190
8781-(88/12)190
Special Contingent Account, amounts placed
for FY 19878619-(87/90)191
for FY 19888780-(88/12)191
for FY 19898861-(88/67)193
for FY 19909135-(89/46)197
By-Laws, Section 20 audits, see Audits
C Capital transfers:
Controls by members541-(56/39)229
B/G Res. 29-10410
Restrictions237-2304
Use of Fund’s resources for1238-(61/143)51
B/G Res. IM-6397
Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S329
“Changing circumstances,” adaptation of multiple currency practices237-2308
Charges:
Accounting for charges from members with overdue obligations8433-(86/175)179
Accrued charges8433-(86/175)179
Balances he1d in Fund’s administrative accounts not in excess of 0. 1 percent of quota not to be considered part of Fund’s ho1dings of member’s currency for ca1cu1ation7060-(82/23)357
Borrowing agreements with Swiss National Bank5288-(76/167)256
5306-(77/2)265
5387-(77/61)261
5488-(77/116)265
Enlarged access policy6783-(81/40)77
Extended Fund facility*4377-(74/114)63
4720-(75/114)66
*6838-(81/70)98
Future changes4239-(74/67)177
Interest on Trust Fund loans; see Interest
Media of payment*5702-(78/39) G/S177
Oil facility Subsidy Account; see Accounts, Subsidy Accounts
Overdue obligations to Fund, special charges8165-(85/189) G/TR179
Overdue obligations to Fund, accrued income8433-(86/175)179
Payment by nonparticipant in Special Drawing Rights Department5702-(78/39) G/S177
Payment of net charges and assessments in Special Drawing Rights Department, procedure when participants fail to hold adequate SDRs or to acquire them from other participants or Fund7116-(82/68) S352
Rate, as of May 1, 19868349-(86/122)178
as of May 1, 19878621-(87/90)178
as of Feb. 1, 19888780-(88/12)191
as of May 1, 19888898-(88/90)178
Rate, determination of, burden sharing*8348-(86/122)183
8515-(87/23)189
Retroactive reduction of rate:
for FY 19878618-(87/90)190
for FY 19888781-(88/12)190
Setoff in connection with retroactive reduction8271-(86/74)181
Specia1 charges on overdue ob1igations to Fund8165-(85/189) G/TR179
Amendment8641-(87/101) G/S/TR181
Setoff against charges due for second quarter of FY 19878442-(86/178)182
Stand-by arrangements*6838-(81/70)93
Supplementary financing facility5508-(77/127)71-72
Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.399
Final report and terminationB/G Res. 29-7400
Support of extended Fund facility*4377-(74/114)60
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)313
Commodities (see also Buffer stock financing facility; Compensatory financing …):
Reclassification where subject to multiple currency practices237-2307
Communications, privilege for534-3316
Compensatory and contingency financing facility, Establishment*8955-88/126)112
Compensatory financing of export fluctuations*8955-(88/126)115
External contingency financing*8955-(88/126)118
Chairman’s Summing up EBM/88/105130
Compensatory financing of fluctuation in the cost of cereal imports*8955-(88/126)124
Transitional and other provisions*8955-(88/126)129
Conditionality; see Use of Fund’s resources, Conditionality
“Consistent with the provision of this Agreement,” meaning in Article V, Section 3287-351
Consultation with members:
Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)297
Bicyclic procedures and simplified interim proceduresChairman’s Summing up EBM/87/10020
Bilateral arrangements433-(55/42)292
Changes in members’ exchange arrangements, notification to Fund5712-(78/41)8
Commodity field, attention to policies*2772-(69/47)143
Conduct by Managing Director in interval between Article IV consultations5392-(77/63)14
6026-(79/13)15
Consultations under Article IV5392-(77/63)13
6026-(79/13)14
6056-C79/38)54
6790-(81/43)313
Discussions on use of Fund’s resources102-(52/11)53
During period of extended arrangement*6838-(81/70)98-99
During period of stand-by arrangement*6838-(81/70)94
Exchange measures needing approval under Article VIII−1034-(60/27)297
Members policies in present circumstances4134-(74/4)301
Multiple currency practices237-2303
Periodic discussions under Article VIII1034-(60/27)298
Resumption of purchases under extended arrangements*6838-(81/70)97
Resumption of purchases under stand-by arrangements*270-(53/95)88
*6838-(81/70)92
Retention quotas201-(53/29)295
Special consultations5392-(77/63)13
Whether measure is exchange restriction1034-(60/27)297
Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8) G/S351
Consultations with prescribed holders of special drawing rights6467-C80/71) S327
Contingency mechanism; see Compensatory and contingency financing Facility
Convertibility:
Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)297
Approval of exchange restrictions1034-(60/27)298
Bilateralism433-(55/42)292
Consultation with Fund1034-(60/27)298
Discrimination955-(59/45)296
Multiple currency practices; see Multiple currency practices
Retention quotas201-(53/29)294
Credit tranches; see Tranche policies
Creditworthiness, factor in determining use of Fund’s resources102-(52/11)52
Currencies (see also Borrowing by the Fund; Convertibility; Holdings of the Fund; Investment):
Arrangements for use in operations and transactions of FundB/G Res. 31-2419
Composition of special drawing right663M80/145) G/S322
Freely usable currencies5719-(78/46)358
Guidelines for use in operational budgets6772-(81/35) G/S161
Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S155
6274-(79/158)156
6774-(81/35)163
Payment of subscriptions6266-(79/156)4
B/G Res. 31-2418
B/G Res. 34-2425
B/G Res. 38-1434
Rates for computations and maintenance of value5590-(77/163)200
Replenishment in connection with supplementary financing facility5509-(77/127)274
Sale by agreement with member with outstanding purchases6274-(79/158)156
6352-(79/183)160
6774-(81/35)164
Selection for payment of charges*5702-(78/39) G/S177
Specified by the Fund, use in repurchases*5703-(78/39)172
5809-(78/88)175
Subscribed to the Fund, ownership170-33
D Debt management policies; see External debt management policies
Deferred income; see Overdue obligations to Fund, Deferred income
Designation; see Special drawing rights
Development Committee; see Joint Ministerial Committee
Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions)955-(59/45)296
Drawings; see Purchase transactions; Use of Fund’s resources
E East African Development Bank, prescription as holder of special drawing rights7582-(83/174) S329
Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S329
Emergency assistance, natural disastersChairman’s Remarks EBM/82/16151
Enemy-occupied, former, members, introduction of multiple currency practices237-2306
Enhanced structural adjustment facility:
Access limits8845-(88/61) ESAF45
Review9119-(89/40) ESAF46
Arrears to the Fund, ConsequencesActing Chairman’s Remarks EBM/88/12106
Associated lending agreement with Saudi Fund for Development9060-(89/5) ESAFA67
Borrowing agreements with:
Bank of Korea9120-(89/40) ESAFA63
Bank of Norway8833-(88/56) ESAFA17
Bank of Spain8893-(88/90) ESAFA32
Caisse Centrale de Coopération Economique of France883H88/56) ESAFA3
Export-Import Bank of Japan8832-(88/56) ESAFA8
Government of Canada8894-(88/90) ESAFA37
Monetary Authority of Singapore9016-(88/164) ESAFA54
Swiss Confederation8834-(88/56) ESAFA21
8835-(88/56)A21
Borrowing for loan accounts, consultation with creditors9056-(89/2) ESAF46
Establishment8757-(87/176) SAF/ESAF223
Extension of commitment and disbursement periods for agreement9116-(89/40) ESAF225
Instruments for administered accounts:
Austria8895-(88/90) ESAFA41
Belgium8933-(88/117) ESAFA48
Greece9030-(88/173) ESAFA57
Investment with subsidy account, Bank Negara Malaysia8892-(88/90) ESAFA27
legal documentationChairman’s Remarks EBM/87/17644
Operational arrangementsChairman’s Summing up EBM/87/17138
Enhanced Structural Adjustment Facility Trust:
Instrument to establish8759-(87/176) ESAF23
Interest rate on trust loans8846-(88/61) ESAF46
lending, considered as a member’s official reserves by FundChairman’s Summing up EBM/87/17644
Transfer and retransfer of resources to and from Special Disbursement Account8760-(87/176)225
Enhanced surveillanceChairman’s Summing up38
Procedures for transmittal of staff reports8222-(86/45)47
Chairman’s Summing up47
Enlarged access, policy on6783-(81/40)74
Access limits, guidelines*7600-(84/3)78
Chairman’s Summing up of Dec. 2, 198380
Apportionment between ordinary and borrowed resources8886-(88/89)79
Borrowed Resources Suspense Accounts; see Accounts
Borrowing agreement with Bank for International Settlements*6863-(81/81)A130
7677-(84/64)A144
7955-(85/60)A156
Borrowing agreement with Japan7677-(84/64)A144
7955-(85/60)A156
8486-(86/205)A159
Borrowing agreement with National Bank of Belgium7677-(84/64)A144
Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
Amendment8460-(86/189)A128
Change in conversion arrangements7188-(82/114)A109
Supplementary agreement7677-(84/64)A110
Borrowing from central banks and other official institutions6864-(81/81)A133
Charges*6783-(81/40)77
Exclusion of purchases with borrowed resources and holdings under Article XXX(c)*6783-(81/40)77
Forms of stand-by and extended arrangements*6838-(81/70)89
Mix of ordinary and borrowed resources; see Apportionment between ordinary and borrowed resources, above
Period*7599-(84/3)78
Repurchases; see Repurchases
Review*7599-(84/3)78
Utilization of supplementary financing facility for enlarged access resources; see Supplementary financing facility
European Currency Unit, representative rate in terms of SDR704M82/8) G/S351
European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit704H82/8) G/S351
“Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1321
237-2308
Exchange arrangements, notification*5392-(77/63)13
5712-(78/41)8
Exchange contracts, unenforceability446-4289
Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4290
Exchange controls on capital transfers541-(56/39)229
Exchange rates:
Borrowing arrangements by Fund*(1289-(62/1)230
Exchange rate policies of members, surveillance5392-(77/63)9
Flexible exchange arrangements5712-(78/41)9
Floating, guidelinesB/G Res. 29-10410
Fluctuating:
Multiple currency practices (fixed and fluctuating rates)237-2305
Scope of transactions to be agreed with Fund237-2305
Free markets237-2305
Multiple currency practices arising from official action6790-(81/43)311
Notification to Fund5392-(77/63)13
5712-(78/41)8
Pegs, notification to Fund of changes5712-(78/41)8
Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S351
Unification in multiple rate systems a basic objective of Fund649-(57/33)310
Exchange restrictions (see also Payments restrictions):
Approval1034-(60/27)297-98
Avoidance of escalation4134-(74/4)301
4254-(74/75)313
Bilateralism433-(55/42)292
Capital transactions; see Capital transfers Consultations with Fund1034-(60/27)298
Discrimination955-(59/45)296
Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)297
Introduction1034-(60/27)297
Maintenance1034-(60/27)298
Multiple currency practices237-22302
649-(57/33)309
6790-(81/43)311
Payments arrears3153-(70/95)299
Retention quotas201-(53/29)293
Security reasons; see Payments restrictions
Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)297-98
Withdrawal, representation by Fund117-1321
Exchange systems, avoidance of use for nonbalance of payments reasons1034-(60/27)298
Exchange taxes237-2309
Notification to Fund5712-(78/41)9
Exchange transactions; see Purchase transactions
Exclusion of balances held in administrative accounts;
see Accounts, Administrative accounts
Exclusion of purchases and holdings under Fund policies; see Article XXX (c)
Executive Board:
Annual review of decision on oil facility Subsidy Account*4773-(75/136)392
Annual review of implementation of surveillance over members exchange rate policies5392-(77/63)14
6026-(79/13)15
7646-(84/40)16
7939-(85/49)17
8249-(86/60)17
8563-(87/59)18
Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)57
Communication of changes in members exchange arrangements5712-(78/41)8
Information on operation of buffer stocks3179-(70/102)144
5127-(76/91)145
5597-(77/171)149
7246-(82/147)151
7247-(82/147)147
Report to Board of Governors on quota increases under General Reviews of Quotas:
7thB/G Res. 34-2420
8thB/G Res. 38-1431
Review and change of rules for designation6209-(79/124)S346
Review of broad developments in exchange rates5392-(77/63)13
Review of decision on extended Fund facility*4377-(74/114)63
5220-(76/144)64
7558-(83/156)64
7857-(84/175)65
8192-(86/13)65
8583-987/72)66
Review of functioning of international adjustment process5392-(77/63)12
Review of guidelines for borrowing by Fund7040-(82/7)287
Review of level of Fund’s SDR holdings6275-(79/158) G/S158
7626-(84/23)S162
7941-(85/50)S162
8265-(86/70)S163
8574-(87/64) S163
Review of prescriptions of holders of special drawing rights6467-(80/71) S327
Review of quota calculation methodB/G Res. 38-1431
Executive Directors:
Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4319
Appointment by members having 5 largest quotas2-1318
Determination of members entitled to appoint under Article XII, Section 3(c)*574-2318
Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)357
Participation in meetings of Development CommitteeB/G Res. 29-9406
Participation in meetings of Interim CommitteeB/G Res. 29-8401
Voting power, effect of quota changes180-5319
Export shortfalls, financing; see Compensatory and contingency financing facility
Extended arrangements*4377-(74/114)60
Amendment to utilize supplementary financing7047-(82/13)100
7048-(82/13)103
Amounts to be made available under enlarged access policy decision, guidelines*7600-(84/3)78
Augmentation of rights to make purchases, elimination5706-(78/39)99
Charge*4377-(74/114)63
4720-(75/114)66
*6838-(81/70)98
Exclusion of purchases and holdings for purpose of definition of "reserve tranche purchase"6830-(81/65)356
Form under enlarged access policy*6838-(81/70)94
7048-(82/13)102
7908-(85/26)103
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility*6838-(81/70)97
Publicity upon declaration793M85/41)320
7999-(85/90)320
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)107
EBM/85/26109
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Noncomplying purchases; see Misreporting and noncomplying purchases
Operational guidelines; see Performance criteria and phasing, below
Overdue obligations to Fund, purchases from Fund7908-(85/26)103
EBM/84/54104
Performance criteria and phasing, operational guidelines*7925-(85/38)109
Provision for enlarged access to Fund’s resources6783-(81/40)74
Provision for supplementary financing5508-(77/127)67
6693-(80/177)73
6725-(81/5)73
Repurchases; see Repurchases
Review of decision on extended Fund facility5220-(76/144)64
7558-(83/156)64
7857-(84/175)65
8192-(86/13)65
8583-(87/72)66
Suspension of right to engage in purchase transactions*6838-(81/70)97
Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize …, above
Extended Fund facility; see Extended arrangements
External debt management policies6230-(79/140)57
External contingency financing, see, Compensatory and contingency financing facility
F “First credit tranche,” Fund attitude to request for transactions53
Floating rates; see Exchange rates
Fluctuating exchange rates; see Exchange rates
Freely usable currencies5719-(78/46)358
Free markets; see Exchange rates
Fund resources, use; see Use of Fund’s resources
Fund’s holdings; see Holdings of the Fund
G General Agreement on Tariffs and Trade1034-(60/27)299
4254-(74/75)315
B/G Res. 29-10411
General Arrangements to Borrow; see Borrowing by the Fund
General Resources Accounts; see Accounts
Gold:
Repurchase obligations, discharge by payment in SDRs or currencies of other members specified by Fund*5703-(78/39)173
5809-(78/88)175
Sale, amounts available to Trust Fund5069-(76/72)359, 360, 365
Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)359
5709-(78/41)TR370
5832-(78/95) TR371
6540-(80/98) TR375
Sale, transfer of profits to Trust Fund5069-(76/72)361
Subscribed to Fund, ownership170-33
Gross reserve position; see Reverse position, gross
H Holdings of the Fund:
Adjustment by Fund5590-(77/163)200
Attribution of reductions to enlargement of member’s reserve tranche position.6774-(81/35)165
*6831-(81/65)175
Attribution of reductions to repurchase obligations*6831-(81/65)175
Balances held in administrative accounts not in excess of 0.1 percent of member’s quota, exclusion from Fund’s holdings of member’s currency for certain purposes7060-(82/23)357
Computations and adjustment, rates5590-(77/163)200
Exclusion of holdings resulting from credit tranche purchases6830-(81/65)356
Exclusion under buffer stock facility5591-(77/163)355
Exclusion under compensatory and contingency financing facility*8955-(88/126)355
Exclusion under enlarged access policy6783-(81/40)357
Exclusion under extended Fund facility6830-(81/65)356
Exclusion under oil facility5371-(77/51)355
Exclusion under supplementary financing facility5508-(77/127)356
Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Repurchases; see Repurchases
I Import restrictions imposed for balance of payments reasons, GATT members1034-(60/27)298-99
Income, accrued; see Overdue obligations to Fund, purchases from Fund, Accrued charges and income
Income position, burden sharing*8348-(86/122)182
8515-(87/23)189
Income target for FY 1987 and FY 1988*8348-(86/122)183
Ineligibility; see Extended arrangements; Stand-by arrangements; Use of Fund’s resources
Interest:
Charge on loans from Trust Fund5069-(76/72)364
Payment on Fund indebtedness to Bank for International Settlements*6863-(81/81)A132
Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)A135
Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)A80
Payment on Fund indebtedness to Swiss National Bank5288-(76/167)257
5331-(77/15)264
5387-(77/61)262
5488-(77/116)265
Payment on Fund indebtedness under General Arrangements to Borrow*1289-(62/1)234
Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)

G/TR
378
Payment under supplementary financing facility5509-(77/127)

Annex
278
6163-(79/96)283
Payments by members under Trust Fund loan agreements6358-(79/188)373
5069-(76/72)364
Interim Committee of the Board of Governors on the International Monetary System:
EstablishmentB/G Res. 29-8400
Review of functioning of international adjustment process5392-(77/63)12
Rules of procedure413-14
International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S329
International Development Association, prescription as holder of special drawing rights6718-(81/1) S329
International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S329
International monetary system, reformB/G Comp. Res.400
International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
Interpretation of Articles of Agreement51,289,316,318,354
Investment:
Currencies held in oil facility Subsidy Account*4773-(75/136)391
Currencies held in supplementary financing facility Subsidy Account6683-(80/185)

G/TR
380
6854-(81/78)

SBS
385
Currency balances held in Trust Fund5069-(76/72)366
5972-(78/189)369
5973-(78/189)

TR
369
Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S329
J Japan, Borrowing agreement with Fund; see Borrowing by the Fund
Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries:
EstablishmentB/G Res. 29-9403
Rules of procedure414
Secretariat function, changes in organization of work and structure415
M Maintenance of value, adjustment: general policies and procedures relating to arrears to FundActing Chairman’s Summing up EBM/88/19106
Managing Director:
Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)284
6845-(81/75)285
Authority to establish oil facility Subsidy Account*4773-(75/136)390
Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)282
Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)A76
Consultation by eligible member to request assistance from Trust Fund5069-(76/72)361
Consultation by member before making request under supplementary financing facility5508-(77/127)67
Consultation by member contemplating request under extended Fund facility*4377-(74/114)61
Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)74
Consultation with members when notice of exchange policy change not received5712-(78/41)9
Consultations and proposals to Executive Board concerning sales of currencies at request of members with outstanding purchases6352-(79/183)159
Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)283
Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements*6854-(81/78)SBS385
Discussions with members judged sufficiently strong whose outstanding purchases are not subject to guidelines on early repurchase with view to reducing their indebtedness to the Fund6774-(81/35)165
Discussions with members on exchange policies5392-(77/63)14
6026-(79/13)15
Participation in meetings of Development CommitteeB/G Res. 29-9406
Participation in meetings of Interim CommitteeB/G Res. 29-8401
Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189)

TR
370
Proposals for allocation of SDRs:
First basic periodB/G Res. 24-12445
Third basic periodB/G Res. 34-3447
Fourth basic period457
Proposals for calls under General Arrangements to Borrow*1289-(62/1)233
1712-(64/29)251
Proposals for Trust Fund investments5973-(78/189)

TR
370
Recommendations to Executive Board regarding approval of use of Fund resources and stand-by arrangements6056-(79/38)55
Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period457
Misreporting and noncomplying purchases, guidelines on corrective action; see Extended or Stand-by arrangements
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Monetary stabilization operations, use of Fund’s resources71-251
B/G Res. IM-6397
Multiple currency practices:
Applying solely to capital transactions8648-(87/104)92, 97
Policy237-2302
649-(57/33)309
6790-(81/43)311
Prior Fund approval5712-(78/41)9
Spreads6790-(81/43)311
N “Net creditor position in the Fund”6008-(79/3)282
Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S329
O Oil facility:
1975 facility Subsidy Account*4773-(75/136)390
Final review and report on termination7420-(83/82)392
7484-(83/117)393
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)355
Operational budgets:
Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158)

G/S
155
Sales of SDRs and use of currencies6772-(81/35)

G/S
161
Overdue obligations to Fund, purchases from Fund; (see also Extended or Stand-by arrangements)7908-(85/26)103
*6838-(81/70)92, 97
Access to Enhanced structural adjustment facility (ESAF)Chairman’s Summing up EBM/88/12106
Accrued charges and income8433-(86/175)179
Accounting for overdue charges8433-(86/175)179
Burden sharing*8348-(86/122)182
Managing Director’s concluding remarks July 17, 1986186
July 30, 1986188
Complaint, period of considerationChairman’s Summing up104
Deferred income8433-(86/175)179
8515-(87/23)189
Maintenance of value adjustments, policies and proceduresChairman’s Summing up EBM/88/19106
Publicity upon declaration of ineligibility7999-(85/90)320
Reporting by Fund7931-(85/41)320
Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)181
Special charges on*8165-(85/189)

G/TR
179
Setoff against charges due for second quarter of FY 19878442-(86/178)182
Overdue payments to Fund; see Overdue obligations to Fund
P Payments arrears3153-(70/95)299
Payments policies of members4134-(74/4)301
Payments restrictions (see also Exchange restrictions; Payments arrears):
For security reasons, Fund jurisdiction144-(52/51)291
Withdrawal or general abandonment117-1321
“Position in the Fund,” definition6274-(79/158)157
6772-(81/35)

G/S
161
Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)291
Publication of reports, overdue obligations793M85/41)320
Publicity on declaration of ineligibility7999-(85/90)320
Purchase transactions (see also Use of Fund’s resources): Augmentation of rights to purchase under standby and extended arrangements, elimination5706-(78/39)99
Purchase under buffer stock financing facility*2772-(69/47)142
3179-(70/102)143
5127-(76/91)145
5591-(77/163)355
5597-(77/171)147
7246-(82/147)150
7247-(82/147)145
Purchases under compensatory and contingency financing facility*8955-(88/126)112
Purchases under credit tranche; see Tranche policies
Purchases under extended arrangements5508–(77/127)67
6783-(81/40)74
6830-(81/65)99
*6838-(81/70)95
7048-(82/13)102
Purchases under policy on enlarged access6783-(81/40)74
Purchases under stand-by arrangements .5508–(77/127)67
6783–(81/40)74
*6838–(81/70)90
7048–(82/13)102
Purchases under supplementary financing facility5508-(77/127)66
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal*6838-(81/70)97
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal* 270-(53/95)88
*6838-(81/70)93
Suspension, effect on General Arrangements to Borrow*1289-(62/1)238
Suspension of transactions under extended arrangements6838-(81/70)97
Suspension of transactions under stand-by arrangements*270-(53/95)88
*6838-(81/70)92
Q Quotas:
Adjustment, first interval of five years408-23
Calculation, review of methodB/G Res. 38-1432
Change, effect on voting power of elected Executive Director180-5319
Reviews:
1st408-23
6th GeneralB/G Res. 29-10413
B/G Res. 31-2417
7th GeneralB/G Res. 34-2420
Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S167
8th GeneralB/G Res. 38-1431
9th General
Report of Executive Board to Board of GovernorsB/G Res. 43-1440
Special adjustment for members with very small quotasB/G Res. 44-1442
B/G Res. 38-1433
R Rates for official communications of Fund534-3316
Rates of exchange; see Exchange rates; Multiple currency practices
Reconstitution; see Special drawing rights, Reconstitution
Remuneration on net creditor positions, balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency for calculation7060-(82/23)357
Remuneration, rate, burden sharing*8348-(86/122)183
8515-(87/23)189
Repayment by Fund of borrowed currency*1289-(62/1)235
1712-(64/29)252
5288-(76/167)256-58
5387-(77/61)262-63
5509-(77/127)278-79
6843-(81/75)82-83
6864-(81/81)135-36
Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Reporting by the Fund of overdue obligations7931-(85/41)320
Repurchases:
Attribution of reductions in Fund’s holdings of currencies6774-(81/35)165
*6831-(81/65)175
Currency resulting from purchase under credit tranches*5703-(78/39)172
Currency resulting from purchase under extended arrangement*6838-(81/70)98
Currency resulting from purchase under stand-by arrangement*6838-(81/70)93
Early, guidelines5704-(78/39)168
6172-(79/101)170
6273-(79/158)

G/S
155
Guidelines for selection of currencies6274-(79/158)156
6774-(81/35)163
Obligations to pay gold, payment with SDRs or currencies of other members*5703-(78/39)173
5809-(78/88)175
Of Fund’s holdings102-(52/11)52
Procedures*5703-(78/39)173
Under buffer stock financing facility*5703-(78/39)172
6th International Tin Agreement7247-(82/147)146
1977 International Sugar Agreement5597-(77/171)149
International Natural Rubber Agreement, 19797246-(82/147)150
Under compensatory and contingency financing facility*5703-(78/39)172-73
*8955-(88/126)118, 123, 124, 128
Under decision on enlarged access6783-(81/40)76
Under extended Fund facility*4377-(74/114)63
Under supplementary financing facility5508-(77/127)70-71
Reserve assets:
Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4-6
Payment for subscriptions under 8th General Review of QuotasB/G Res. 38-1434, 436
Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)

G/S
155
Reserve tranche position:
Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)165
*6831-(81/65)175
Review7704-(84/78)176
Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for determination7060-(82/23)357
Reserve tranche purchases (see also Use of Fund’s resources):
Exclusion of purchases and holdings in credit tranches6830-(81/65)356
Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)355
Exclusion of purchases and holdings under compensatory and contingency financing facility*8955-(88/126)355
Exclusion of purchases and holdings under extended facility6830-(81/65)356
Exclusion of purchases and holdings under oil facility537M77/51)355
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)357
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)356
Restrictions; see Exchange restrictions; Payments restrictions
Retention quotas201-(53/29)293
Rule G-1*1289-(62/1)238
Rule 1-6(4):
Rate of charges*8165-(85/189)

G/TR
180
8349-(86/122)178
8621-(87/90)178
8780-(88/12)191
8898-(88/90)178
Rule 1-10:
Rate of remuneration*8348-(86/122)183
Rule O-2:
Determination of exchange rate*1289-(62/1)237
5288-(76/167)255
5387-(77/61)260
5590-(77/163)200
6001-(79/1)S334
6053-(79/34)S336
6054-(79/34)S338
6336-(79/178)S340
7041-(82/8)

G/S
351
Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S324
Rule P-7:
Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S343
Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178) S342
Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/l) S335
Declaration concerning use of special drawing rights in accordance with prescription on pledges*6053-(79/34) S337
Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations*6000-(79/1) S333
Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S341
Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations*6054-(79/34) S339
Rule P-9, record of operations in special drawing rights*6000-(79/1) S334
6001-(79/1)S336
*6053-(79/34) S337
*6054-(79/34) S340
6336-(79/178)S341
6337-(79/178)S342
6437-(80/37) S343
8186-(86/9)

SBS/S
343
8239-(86/56) SAF344
Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65)350
S Saudi Arabia, association agreement under General Arrangements to Borrow; see Borrowing by the Fund
Saudi Arabian Monetary Agency, borrowing agreement with Fund6843-(81/75)A76
Amendment8460-(86/189)A128
Change in conversion arrangements7188-(82/114)A109
Supplementary agreement7677-(84/64)A110
Extension of commitment period8460-(86/189)A128
Transferability of claims7629-(84/25)248
Special contingent account, establishment8619-(87/90)191
Additions in FY 1988 and disposition of amounts placed in FY 1987 and FY 19888780-(88/12)191
Special Disbursement Account; see Accounts
Special drawing rights:
Allocation for first basic periodB/G Res. 24-12445
Allocation for third basic periodB/G Res. 34-3447
New participants5956-(78/180) S332
6368-(79/191)S332
Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board457
Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)

Annex
279
Designation, review of rules and method of calculating amounts6209-(79/124) S346
Holders prescribed by the Fund:
African Development Bank and African Development Fund8318-(86/104) S329
Andean Reserve Fund6486-(80/77) S329
Arab Monetary Fund6609-(80/126) S329
Asian Development Bank7229-(82/136) S329
Bank for International Settlements6484-(80/77) S328
Bank of Central African States7064-(82/26) S329
Central Bank of West African States6908-(81/101) S329
East African Development Bank7582-(83/174) S329
Eastern Caribbean Central Bank7707-(84/79) S329
International Bank for Reconstruction and Development6718-(81/1) S329
International Development Association6718-(81/1)S329
International Fund for Agricultural Development6489-(80/77) S329
Islamic Development Bank7086-(82/42) S329
Nordic Investment Bank6488-(80/77) S329
Swiss National Bank6485-(80/77) S330
Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S326
Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
Loans for Trust Fund expressed in5069-(76/72)364
Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S324
Payment of net charges and assessment in Special Drawing Rights Department; see Special Drawing Rights Department, payment
Payment of subscriptions6266-(79/156)5
Reconstitution, abrogation of rules6832-(81/65) S350
Sale by Fund to members for use in quota payments under 7th General Review6663-(80/160) S167
Sale by Fund, guidelines6772-(81/35) G/S161
7626-(84/23) S162
7941-(85/50) S162
8265-(86/70) S162
8574-(87/64) S163
SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR370
Transfers under Article V, Section 3(f)6275-(79/158) G/S158
Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)156
6774-(81/35)163
Use in donations6437-(80/37) S343
Use in donations and loans to supplementary financing facility Subsidy Account*6683-(80/185) G/TR378
Use in financial operations under ESAF Trust or administered account8937-(88/118) ESAF/S344
Use in forward operations6337-(79/178) S341
Use in loans6001-(79/1) S334
Use in operations under structural adjustment facility8239-(86/56) SAF343
Use in payment of charges*5702-(78/39) G/S177
Use in payment of 25 percent of quota increasesB/G Res. 31-2418
B/G Res. 34-2425
B/G Res. 38-1436
Use in payment of subsidy8186-(86/9) SBS/S343
Use in payment of Trust Fund obligations8642-(87/101) S/TR330
Use in pledges*6053-(79/34) S336
Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S330
Use in repurchases5703-(78/39)173-74
5809-(78/88)175
Use in settlement of financial obligations*6000-(79/1) S333
Use in swap operations6336-(79/178) S340
Use in transfers as security for performance of financial obligations6054-(79/34) S338
Valuation basket, guidelines for calculation of currency amount8160-(85/186) G/S324
Valuation for use in borrowing arrangements*1289-(62/1)237
5288-(76/167)255-56
5387-(77/61)260-61
6843-(81/75)A81
Valuation, interimB/G Res. 29-10411-12
Valuation method6631-(80/145) G/S322
Valuation of U.S. dollar pursuant to Rule 0-2(a), method6709-(80/189) S324
Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S352
Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
Stand-by arrangements:
Amendment to utilize supplementary financing7047-(82/13)100
7048-(82/13)102
Amounts to be made available under enlarged access policy decision, guidelines6783-(81/40)75
*7600-(84/3)78
Augmentation of rights to make purchases, elimination5706-(78/39)99
Charges*6838-(81/70)93
Conditionality, guidelines6056-(79/38)54
Review8192-(86/13)65
8583-(87/72)65
Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)356
Foreign borrowing, performance criteria6230-(79/140)57
Form under enlarged access policy*6838-(81/70)89
7048-(82/13)102
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility*270-(53/95)88
*6838-(81/70)92-93
Publicity upon declaration of7999-(85/90)320
7931-(85/41)320
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)107
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Noncomplying purchases; see Misreporting and noncomplying purchases, above
Operational guidelines; see Performance criteria and phasing, below
Overdue obligations to the Fund, purchases from Fund7908-(85/26)103
EBM/84/54104
Payments arrears, performance criteria3153-(70/95)300
Performance criteria and phasing, operational guidelines7925-(85/38)109
Period*270-(53/95)87-88
5508-(77/127)68
6783-(81/40)75
Policies and procedures*270-(53/95)88
Provision for enlarged access to Fund’s resources6783-(81/40)74
Provision for supplementary financing5508-(77/127)66-67
6693-(80/177)73
6725-(81/5)73
Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)109
Renewal*270-(53/95)87
Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
Suspension of right to engage in purchase transactions* 270-(53/95)88
*6838-(81/70)92-93
Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize …, above
Structural adjustment facility:
Amounts of assistance*8240-(86/56) SAF209
Income from investment and loans, availability of use8760-(87/176)226
List of eligible members and amounts of assistance*8240-(86/56)209
Loans under ESAF*8238-(86/56) SAF208
Regulations for administration*8238-(86/56) SAF203
Chairman’s Summing up211
Review of experience, conditionality, benchmarks, and prior actionsChairman’s Summing Up EBM/87/93217
Review of operation8241-(86/56) SAF211
Use of SDRs in operations8239-(86/56) SAF343
Subscriptions:
Gold and currency, ownership by Fund170-33
Payment of quota increasesB/G Res. 31-2418
B/G Res. 34-2425
B/G Res. 38-1436
Reserve assets:
Guidelines for determining amounts to be paid6266-(79/156)4
Payment under 8th General Review of QuotasB/G Res. 38-1436
Subsidy accounts; see Accounts, Subsidy Accounts
Sugar Agreement, International; see Buffer stock financing facility
Supplementary financing facility:
Authorization to make calls under borrowing arrangements6006-(79/3)282
Charges; see Charges
Establishment5508-(77/127)66
Extension of period6725-(81/5)73
No augmentation of rights to purchase5706-(78/39)99
Replenishment of Fund’s holdings of currencies5509-(77/127)274
Interest payments under borrowing agreements6163-(79/96)283
Meaning of “net creditor position in the Fund”6008-(79/3)282
Report on use6445-(80/43)72
Repurchases; see Repurchases
Review of decision on establishment6693-(80/177)73
6725-(81/5)73
Subsidy Account
Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS388
Disbursement of additional subsidy amount for July 1, 1985 through June 30, 19878674-(87/117) SBS388
Additional subsidy payments for May 1, 1987 through June 30, 1987 and for July 1, 1987 through June 30, 19888941-(88/122) SBS389
Effect on subsidy cost of substituting supplementary financing for enlarged access resources7047-(82/13)102
Instrument*6683-(80/185) G/TR378
Investment of currencies*6854-(81/78) SBS385
Means of payments8185-(86/9) SBS/S386
Subsidy payments, July 1, 1984-June 30, 19858037-(85/110) SBS387
Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS387
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS385
Transferability of claims; see Transferability of claims
Utilization of supplementary financing facility for enlarged access resources7047-(82/13)100
7048-(82/13)102
Surveillance over exchange rate policies*5392-(77/63)9
8248-(86/60)16
8857-(88/64)16
Enhanced surveillance; see Enhanced surveillance
Procedures, implementation of three-month period7427-(83/83)18
Review of procedures6026-(79/13)14
7645-(84/40)15
7939-(85/49)17
8249-(86/60)17
8563-(87/59)18
8857-(88/64)16
8858-(88/64)18
Swiss National Bank:
Borrowing agreements with Fund5288-(76/167)254
5387-(77/61)259
Transfer charges and interest, media of payment5306-(77/2)265
5331-(77/15)264
5488-(77/116)265
Use of special drawing rights to repay indebtedness6485-(80/77) S330
Participation in General Arrangements to Borrow*1289-(62/1)241
Prescription as holder of special drawing rights6485-(80/77) S330
Transferability of claims under General Arrangements to Borrow7628-(84/25)246
Switzerland:
Association with General Arrangements to Borrow1712-(64/29)250
T Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)311
Tin Agreements, International; see Buffer stock financing facility
Trade, Voluntary Declaration4254-(74/75)313
B/G Res. 29-10411
Tranche policies:
Application in connection with decision on enlarged access6783-(81/40)77
Application in connection with supplementary financing facility5508-(77/127)71
Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)99, 356
Fund attitude to request for transactions within “first credit tranche” and beyond53
Transferability of claims:
General Arrangements to Borrow*1289-(62/1)237
7628-(84/25)246
Saudi Arabia’s borrowing agreement7629-(84/25)248
Transitional provisions of Article XIV117-1321
1034-(60/27)297-98
Trust Fund:
Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)360
5709-(78/41) TR370
5832-(78/95) TR371
6540-(80/98) TR375
Diversification of investments5972-(78/189)369
5973-(78/189) TR369
Eligible members, review of list5563-(77/150) TR368
Final payments of profits and loans for period July 1, 1976-June 30, 19785832-(78/95) TR371
Instrument5069-(76/72)360
Amendment5563-(77/150) TR368
5972-(78/189)369
6793-(81/45)377
Means of payment of interest*6358-(79/188) TR373
Means of repayment by members on their indebtedness under loan agreements*7142-(82/85) TR373
Overdue interest and special charges*8165-(85/189) G/TR181
Repayment terms:
Final loan disbursement6793-(81/45)377
Second period:
Extension6466-(80/68) TR372
6676-(80/168) TR372
Extension of period for qualification6202-(79/121) TR372
Timing of loan disbursements6201-(79/121) TR371
Special charges on overdue interest*8165-(85/189) G/TR181
Termination and transfer of resources to Special Disbursement Account6683-(80/185) G/TR379
6704-(80/185) TR376
U Unenforceability; see Exchange contracts
United Nations:
Agreement with International Monetary Fund463
Convention on the Privileges and Immunities of the Specialized Agencies470
Application to Fund487
List of members which have accepted with respect to Fund488-89
General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6-8398
United States dollars:
Determination of value in terms of special drawing right pursuant to Rule 0-2(a)6709-(80/189) S324
Inclusion in operational budgets6772-(81/35) G/S161
Use for payment of interest and other Fund liabilities5288-(76/167)259
5306-(77/2)265
5331-(77/15)264
5387-(77/61)263
5488-(77/116)265
*6358-(79/188) TR373
*6863-(81/81)A130
Use for repayments by members on their indebtedness under Trust Fund loan agreements*7142-(82/85) TR373
Use in payments under oil facility Subsidy Account7420-(83/82)392
7484-(83/117)393
Use in payments under supplementary financing facility Subsidy Account7754-(84/108) SBS386
Use of Fund’s resources (see also Borrowing by the Fund; Charges; Extended arrangements; Purchase transactions; Stand-by arrangements):
Application of same policy for stand-by arrangements as for requests for immediate drawings*270-(53/95)88
Authority to use resources of Fund, interpretation of Articles of Agreement71-251
Buffer stock financing*2772-(69/47)142
Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)147
Buffer stock financing facility as applied to International Tin Agreements:
4th3179-(70/102)143
3351-(71/51)144
5th5127-(76/9D145
6th7247-(82/147)145
Capital transfers1238-(61/43)51
Compensatory and contingency financing facility*8955-(88/126)112
Conditionally, guidelines6056-(79/38)54
Review8192-(86/13)65
8583-(87/72)65
“Consistent with the provisions of this Agreement” in Article V, Section 3, meaning …287-351
Credit tranche policies; see Tranche policies
Enlarged access, policy on*6783-(81/40)74
Extended Fund facility*4377-(74/114)60
“First credit tranche”53
In accordance with purposes of Fund102-(52/11)52
Ineligibility:
Effect on purchases under extended arrangement*6838-(81/70)97
Effect on purchases under stand-by arrangement*270-(53/95)88
*6838-(81/70)93
Publicity upon declaration7999-(85/90)320
7931-(85/41)320
Under Article V, Section 5284-3166
Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)354
Interpretation of Articles of Agreement71–251
Limit on access to Fund resources, guidelines*7600-(84/3)78
Limitation under Article V, Section 5284-3166
286-1166
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Monetary stabilization71-251
Postponement, limitation under Article V, Section 5286-1166
“Represents” in Article V, Section 3(b)(iii), meaning of the word284-452
Reserve tranche purchases; see Reserve tranche purchases
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a request*6838-(81/70)97
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)88
*6838-(81/70)93
Stand-by and extended arrangements, forms under enlarged access policy*6838-(81/70)89
Suspension of exchange transactions, effect on General Arrangements to Borrow*1289-(62/1)238
Suspension of transactions under extended arrangements*6838-(81/70)97
Suspension of transactions under stand-by arrangements* 270-(53/95)88
6838-(81/70)92
Temporary assistance in financing balance of payments deficits71-251
Tranche policies; see Tranche policies
Waiver of condition of Article V, Section 3(b)(iii); see Waiver of condition
Waiver of 200 percent of quota limit see also Article V, Section 3(b)(iii)*2772-(69/47)143
V Voluntary Declaration on Tirade and Other Current Account Measures4254-(74/75)313
B/G Res. 29-10411
Voting power, elected Executive Directors, effect of change in quota180-5319
W Waiver of condition of Article V, Section 3(b)(iii)*4377-(74/114)62
5508-(77/127)71
6783-(81/40)77
*8955-(88/126)112
World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)113

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

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

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