Selected Decisions, 17th Edition
Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
June 1992
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SELECTED DECISIONS

AND SELECTED DOCUMENTS OF THE INTERNATIONAL MONETARY FUND

SEVENTEENTH ISSUE

WASHINGTON, DC

MAY 31, 1992

Preface

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

The Fourteenth Issue had an accompanying Annex containing bilateral borrowing agreements entered into by the Fund for the financing of the Enlarged Access Policy and for the financing of the ESAF Trust and associated lending, as well as related decisions adopted by April 30, 1989. This Annex volume, published in 1989, may still be used as an Annex to the Seventeenth Issue. Bilateral borrowing agreements entered into by the Fund in connection with the General Arrangements to Borrow are included in this volume.

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

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

The General Counsel

François P. Gianviti

Contents

List of Decisions by Number

NumberPage
2-1381
71-255
117-1384
170-33
180-5382
237-2362
284-3212
284-456
286-1212
287-355
408-23
446-4350
534-3379
574-2, as amended by 2620-(68/141)381
597-4382
102-(52/11)56
144-(52/51)352
201-(53/29)354
270-(53/95), as amended by 876-(59/15) and 1151-(61/6)58
343-(54/47)417
433-(55/42)353
541-(56/39)293
649-(57/33)370
876-(59/15), see 270-(53/95)
955-(59/45)356
1034-(60/27)357
1151-(61/6), see 270-(53/95)
1238-(61/43)55
1289-(62/1), as amended by 1362-(62/32), 1415-(62/47), 4421-(74/132), 5792-(78/79), 6241-(79/144), and 7337-(83/37)294
1362-(62/32), see 1289-(62/1)
1415-(62/47) see 1289-(62/1)
1712-(64/29)313
2620-(68/141), see 574-2
2772-(69/47), as amended by 4913-(75/207) and 7602-(84/3)144
3153-(70/95)359
3179-(70/102)145
3351-(71/51)145
4134-(74/4)361
4239-(74/67)223
4254-(74/75)373
4377-(74/114), as amended by 6339-(79/179), 6830-(81/65), and 8885-(88/89)71
4421-(74/132), see 1289-(62/1)
4720-(75/114)223
4773-(75/136), as amended by 5694-(78/35)455
4913-(75/207), see 2772-(69/47)
5069-(76/72)423
5127-(76/91)146
5220-(76/144), as amended by 7558-(83/156), 7857-(84/175), 8192-(86/13), 8583-(87/72), 9189-(89/77) 9790-(91/106)75
5288-(76/167)318
5306-(77/2)328
5331-(77/15)327
5371-(77/51)419
5387-(77/61)323
5392-(77/63), as amended by 8564-(87/59) and 8856-(88/64)8
5488-(77/116)328
5508-(77/127)154,419
5509-(77/127)337
5563-(77/150) TR432
5590-(77/163)263
5591-(77/163)418
5597-(77/171)148
5694-(78/35), see 4773-(75/136)
5702-(78/39) G/S as amended by 7096-(82/57)G/S223
5703-(78/39), as amended by 6862-(81/81) and 8955-(88/126)219
5704-(78/39)215
5706-(78/39)71
5709-(78/41)TR434
5712-(78/41)7
5719-(78/46)422
5792-(78/79), see 1289-(62/1)
5809-(78/88)221
5832-(78/95)TR434
5956-(78/180)S397
5972-(78/189)TR433
5973-(78/189)TR433
6000-(79/1)S, as amended by 6438-(80/37)S398
6001-(79/1)S399
6006-(79/3)344
6008-(79/3)345
6026-(79/13)13
6053-(79/34)S, as amended by 6438-(80/37)S401
6054-(79/34)S, as amended by 6438-(80/37)S403
6056-(79/38)60
6163-(79/96)345
6172-(79/101)216
6201-(79/121)TR435
6202-(79/121)TR435
6209-(79/124)S409
6230-(79/140)65
6241-(79/144), see 1289-(62/1)
6266-(79/156)4
6273-(79/158)G/S199
6274-(79/158)200
6275-(79/158)G/S202
6336-(79/178) S405
6337-(79/178) S406
6339-(79/179), see 4377-(74/114)
6352-(79/183)202
6358-(79/188)TR, as amended by 8640-(87/101) S/TR437
6368-(79/191)S397
6437-(80/37)S407
6438-(80/37)S, see 6000-(79/1)S, 6053-(79/34)S, and 6054-(79/34)S
6445-(80/43)159
6466-(80/68)TR435
6467-(80/71)S390
6484-(80/77)S392
6485-(80/77)S394
6486-(80/77)S393
6487-(80/77)S393
6488-(80/77)S393
6489-(80/77)S393
6540-(80/98)TR439
6609-(80/126)S393
6631-(80/145)G/S385
6663-(80/160)S214
6676-(80/168)TR436
6683-(80/185)G/TR, as amended by 8523-(87/25)SBS and 8941-(88/122)SBS441
6693-(80/177)160
6704-(80/185)TR265,439
6709-(80/189) S388
6718-(81/1)S393
6725-(81/5)160
6772-(81/35)G/S204
6774-(81/35)208
6783-(81/40), as amended by 8885-(88/89)81,420
6790-(81/43)371
6793-(81/45)441
6830-(81/65), see also 4377-(74/114)70,419
6831-(81/65), as amended by 7059-(82/23)221
6832-(81/65)S413
6838-(81/70), as amended by 7048-(82/13), 7688-(84/70), and 7908-(85/26) 9931-(89/167) and 9693-(91/48)96
6844-(81/75)347
6845-(81/75)347
6854-(81/78)SBS, as amended by 8184-(86/9)SBS448
6862-(81/81), see 5703-(78/39)
6870-(81/83), see 6863-(81/81)
6908-(81/101)S393
6925-(81/112), see 6863-(81/81)
7041-(82/8)G/S414
7047-(82/13)161
7048-(82/13)163
7059-(82/23), see 6831-(81/65)
7060-(82/23)420
7064-(82/26)S393
7086-(82/42)S393
7096-(82/57)G/S, see 5702-(78/39)G/S
7116-(82/68)S,415
7142-(82/85)TR as amended by 8640-(87/101)S/TR437
7229-(82/136)S393
7246-(82/147)150
7247-(82/147)147
7337-(83/37), see 1289-(62/1)
7403-(83/73)329
7420-(83/82)457
7427-(83/83)18
7484-(83/117)458
7558-(83/156)76
7582-(83/174)S393
7589-(83/181), see 7040-(82/7)
7599-(84/3), as amended by 7841-(84/165),
8147-(85/177), 8459-(86/189), 8744-(87/166), 9028-(88/171), 9326-(89/167), and 9476-(90/101)85
7600-(84/3), as amended by 7841-(84/154), 8147-(55/177), 8459-(86/189), 8744-(87/166), 9028-(88/171), 9326-(89/167), and 9476-(90/101), 9584-(90/161)86
7602-(84/3), see 2772-(69/47)
7626-(84/23)S207
7628-(84/25)310
7629-(84/25)312
7645-(84/40)14
7646-(84/40)15
7688-(84/70), see 6838-(81/70)
7704-(84/78)222
7707-(84/79)S393
7754-(84/108)SBS449
7841-(84/165), see 7599-(84/3) and 7600-(84/3)
7842-(84/165)68
7857-(84/175)76
7908-(85/26)164
7925-(85/38), as amended by 8887-(88/89)63
7931-(85/41)383
7939-(85/49)16
7941-(85/50)S208
7989-(85/81)448
7990-(85/81)265
7999-(85/90)383
8029-(85/105)266
8037-(85/110)SBS450
8147-(85/175), see 7599-(84/3) and 7600-(84/3)
8160-(85/186)G/S387
8165-(85/189)G/TR as amended by 8496-(87/3)G/TR, 8641-(87/101)G/TR, 8923-(88/110) G/TR and 10000-(92/58)228,437
8184-(86/9)SBS, see 6854-(81/78)SBS
8185-(86/9)SBS/S449
8186-(86/9)SBS/S395
8192-(86/13)77
8222-(86/45)51
8238-(86/56)SAF, as amended by 8497-(87/3)SAF, 8652-(87/105)SAF, 8758-(87/176)SAF, 9118-(89/40)SAF, 9490-(90/106)SAF and 9863-(91/156)SAF/ESAF266
8239-(86/56) SAF395
8240-(86/56)SAF, as amended by 8651-(87/105)SAF, 8935-(88/118)SAF, 9117-(89/40)SAF, and 9986-(92/48) SAF273
8241-(86/56)SAF275
8248-(86/60)14
8249-(86/60)16
8265-(86/70)S208
8271-(86/74)232
8318-(86/104)S393
8348-(86/122), as amended by 8481-(86-202) and 8482-(86/202)233
8433-(86/175)227
8442-(86/178)232
8459-(86/189), see 7599-(84/3) and 7600-(84/3)
8481-(86/202), see 8348-(86/122)
8482-(86/202), see 8348-(86/122)
8492-(87/1)SBS450
8496-(87/3)G/TR, see 8165-(85/189)G/TR
8497-(87/3)SAF, see 8238-(86/56)
8515-(87/23)239
8523-(87/25)SBS see also 6683-(80/185)G/TR451
8542-(87/36)SAF273
8563-(87/59)17
8564-(87/59), see 5392-(77/63)
8574-(87/64)S208
8583-(87/72)77
8618-(87/90)240
8619-(87/90)242
8640-(87/101)S/TR see 6358-(79/188)TR and 7142-(82/85)TR
8641-(87/101)G/S/TR see 8165-(85/189)G/TR
8642-(87/101)S/TR394
8648-(87/104)99,103
8651-(87/105)SAF, see 8240-(86/56)SAF
8652-(87/105)SAF, see 8238-(86/56)SAF
8674-(87/117)SBS451
8733-(87/159)307
8744-(87/166), see 7599-(84/3)
8757-(87/176) SAF/ESAF286
8758-(87/176)SAF see 8238-(86/56)SAF
8759-(87/176)ESAF, as amended by 9115-(89/40)ESAF, 9488-(90/106)ESAF 9555-(90/146)ESAF 9585-(90/161)ESAF26
8760-(87/176) as amended by 9989-(92/48)289
8780-(88/12)242
8781-(88/12)240
8845-(88/61)ESAF as amended by 9988-(92/49)ESAF49
8846-(88/61)ESAF50
8856-(88/64) see 5392-(77/63)
8857-(88/64)15
8858-(88/64)17
8861-(88/67), as amended by 8880-(88/84)244
8878-(88/84)240
8879-(88/84)241
8880-(88/84), see 8861-(88/67)
8885-(88/89), see 4377-(74/114) and 6783-(81/40)
8886-(88/89)87
8887-(88/89), see 7925-(85/38)
8897-(88/93)335
8898-(88/90)224
8923-(88/110) G/TR see 8165-(85/189) G/TR
8935-(88/118)SAF, see 8240-(86/56)SAF
8936-(88/118)247
8937-(88/118)ESAF/S396
8941-(88/122)SBS, see also 6683-(80/185)G/TR452
8955-(88/126), as amended by 9101-(89/30),
9153-(89/59), 9391-(90/43), 9503-(90/114), 9586-(90/161), 9587-(90/161), 9588-(90/161), and 9064-(90/170)106,418
9028-(88/71), see 7599-(84/3) 7600-(84/3)
9056-(89/2)ESAF51
9101-(89/30), see 8955-(88/126)
9114-(89/40)SAF/ESAF287
9115-(89/40)ESAF, see 8759-(87/176)ESAF
9116-(89/40)ESAF289
9117-(89/40)SAF, see 8240-(86/56)SAF
9118-(89/40)SAF, see 8238-(86/56)SAF
9119-(89/40)ESAF49
9135-(89/46)248
9186-(89/74)224
9189-(89/77)78
9222-(89/97)SBS453
9326-(89/167) see 7599-(84/3) and 9600-(84/3)
9331-(89/167) as amended by 9693-(91/48)194
9403-(90/53)152
9410-(90/62)251
9454-(90/89)241
9457-(90/89)225
9471-(90/98)254
9476-(90/101), see 7599-(84/3) and 7600-(84/3)
9480-(90/103)206
9487-(90/106)SAF/ESAF as amended by 9776-(91/96)SAF/ESAF288
9488-(90/106)ESAF26
9489-(90/106)ESAF, as amended by 9777-(91/96)ESAF49
9490-(90/106)SAF, see 8238-(86/56)SAF
9499-(90/lll)15,17
9503-(90/114), see 8955-(88/126)
9510-(90/122)SBS453
9546-(90/145)88
9549-(90/146)G/S387
9584-(90/161), see 7600-(84/3)
9585-(90/161)ESAF26
9586-(90/161), see 8955-(88/126)
9587-(90/161), see 8955-(88/126)
9588-(90/161), see 8955-(88/126)
9603-(90/170)226
9604-(90/170), see 8955-(88/126)
9637-(91/15)22
9693-(91/48), see 9331-(89/167)
9696-(91/49)256
9723-(91/63) G/TR230
9749-(91/77)241
9751-(91/77)226
9776-(91/96) SAF/ESAF, see 9487-(90/106) SAF/ESAF
89777-(91/96) see 9489-(90/106) ESAF
9788-(91/105)454
9790-(91/106)78
9808-(91/114)SAF/ESAF288
9809-(91/114) SAF288
9810-(91/114) ESAF50
9862-(91/156)349
9863-(91/156)SAF/ESAF, see 8238-(86/56) SAF
9874-(91/16789
9917-(92/11)207
9986-(92/48), see 8240-(86/56) SAF
9987-(92/48), see 8757-(87/176) SAF/ESAF
9989-(92/48) see 8760-(87/176)
9997-(92/57)259
9998-(92/57)259
10000-(92/58) G/TR see 8165-(85/189)

Available in Annex to Fourteenth Issue

NumberPage
6843-(81/75)A76
6863-(81/81), as amended by 6870-(81/83) and 6925-(81/112)A130
6864-(81/81)A133
7118-(82/114)A109
7677-(84/64)A110,144
7955-(85/60)A156
8460-(86/189)A128
8486-(86/205)A159
8643-(87/102)A90
8831-(88/56)ESAFA3
8832-(88/56)ESAFA8
8833-(88/56)ESAFA17
8834-(88/56)ESAFA21
8835-(88/56)A21
8892-(88/90)ESAFA27
8893-(88/90)ESAFA32
8894-(88/90)ESAFA37
8895-(88/90)ESAFA41
8933-(88/117)ESAFA48
9016-(88/164)ESAFA54
9030-(88/173)ESAFA57
9060-(89/5)ESAFA67
9120-(89/40)ESAFA63

List of Board of Governors’ Resolutions

NumberPage
IM-6461
6-8462
24-12527
29-7464
29-8464
29-9467
29-10472
31-2481
34-2489
34-3536
38-1499
43-1505
44-1508
44-5511
45-1514
45-2522

Interpretations Under Article XXIX (a)

Interpretations of Articles of Agreement (71-2)

Unenforceability of Exchange Contracts: Fund’s Interpretation of Article VIII, Section 2(b) (446-4)

Interpretation of Article IX, Section 7 (534-3)

Interpretation of Article XII, Section 3(b)(i) and 3(f) (2-1)

Interpretation of Article XXVI, Section 2* (343-(54-47))

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