Selected Decisions (12th Ed)
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
April 1986
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Index

(* indicates Decision as amended)

Decision No.Page
AAccounting by members for transactions with the Fund170–33
Accounts:
Administrative accounts, balances held not in excess of 0.1 percent of quota, exclusion from Fund’s holdings of member’s currency7060-(82/23)341
Borrowed Resources Suspense Accounts6844-(81/75)269
6845-(81/75)270–71
7188-(82/114)227
General Account; see General Resources Account, below
General Resources Account:
Adjustment of currency holdings of members5590-(77/163)131
Exchange rate for Fund computations5590-(77/163)131
Level of Fund SDR holdings, maintenance6275-(79/158)
G/S107
7626-(84/23) S111
7941-(85/50) S111
8265-(86/70) S112
Purchase of SDRs for payment of charges*5702-(78/39)
G/S127
Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185)
G/TR367–68
Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)344, 350
Sales of SDRs for payment of quota increases by members under 7th General Review of Quotas6663-(80/160) S116
Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185)
G/TR363, 364
6704-(80/185)
TR360, 361
Investment7990-(85/81)132
8029-(85/105)132
Structural adjustment facility; see Structural adjustment facility
Special Drawing Rights Department, payment of net charges and assessments7116-(82/68) S335–36
Subsidy Accounts:
Oil facility*4773-(75/136)371–73
Final review and report on termination7420-(83/82)374
7484-(83/117)374–75
Supplementary financing facility:
Instrument6683-(80/185)
G/TR362–68
Investment of currencies*6854-(81/78)
SBS369
Means of payments8185-(86/9)
SBS/S370
Subsidy payments, July 1, 1983–June 30, 19847754-(84/108)
SBS370
Subsidy payments, July 1, 1984–June 30, 19858037-(85/110)
SBS371
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81)
SBS369
Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185)
TR360–61
Adjustment process, international, review5392-(77/63)12
Administrative accounts; see Accounts
Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S314
Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S314n
Articles of Agreement1
Amendment, SecondB/G Res. 29–8382
B/G Res. 29–10390
Article I, purposes of the Fund287–323
433-(55/42)276
1034-(60/27)281
*4377-(74/114)32
*4773-(75/136)371
5069-(76/72)344
Article III, Section 2, adjustment of quotas408–23
Article III, Section 2(a), general review of quotasB/G Res. 31–2399
B/G Res. 34–2402
B/G Res. 38–1413
Article IV:
Consultations5392-(77/63)9–15
6026-(79/13)15
6056-(79/38)26
6790-(81/43)297
7427-(83/83)17–18
7646-(84/40)16
7939-(85/49)16–17
Exchange arrangements5392-(77/63)9–10
5712-(78/41)8
Article IV, Section 3, surveillance over exchange rate policies5392-(77/63)10–11
6026-(79/13)14–15
Article V, Section 1*1289-(62/1)156
Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund*1289-(62/1)153
Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287–323
Article V, Section 3(b)(iii), waiver*4377-(74/114)34
5508-(77/127)43
6783-(81/40)49
Article V, Section 3(d):
Sale of members’ currencies for repurchases5704-(78/39)118
Selection of currencies in purchases6273-(79/158)
G/S104
6274-(79/158)105, 106
6352-(79/183)108
6774-(81/35)112
Article V, Section 3(f), transfers of SDRs6275-(79/158)
G/S107
Article V, Section 5, limitation on use of Fund’s resources284–3115
286–1115
7842-(84/165)79
Article V, Section 6, sale of SDRs by the Fund6663-(80/160) S116
Article V, Section 6(b), transfers of SDRs by the Fund6274-(79/158)105
6774-(81/35)112
Article V, Section 7, repurchases*1289-(62/1)153
*5703-(78/39)122–23
5704-(78/39)117–18
5809-(78/88)123
Article V, Section 7(b), early repurchases5704-(78/39)117
6172-(79/101)119
6273-(79/158)
G/S104
Article V, Section 7(d), prompt repurchase of overcompensation under compensatory financing facility
Article V, Section 7(i), guidelines for selection of currencies used in repurchases6274-(79/158)105, 106
6774-(81/35)112, 113
Article V, Section 8, media of payment of charges*5702-(78/39)
G/S126
Article V, Section 8(b), charges*5703-(78/39)121
6008-(79/3)196
7060-(82/23)341
Article V, Section 8(b), (c), and (d), charges4239-(74/67)126
Article V, Section 9(a), remuneration7060-(82/23)341
Article V, Section 11, adjustment of Fund’s holdings of members’ currencies5590-(77/163)130–31
Article V, Section 12(f)(ii), balance of payments assistance on special terms to low-income developing members in difficult circumstances6704-(80/185)
TR361
Article VI, Section 1, use of Fund’s resources541-(56/39)147
1238-(61/43)23
Article VI, Section 3, controls on capital transfers541-(56/39)147
Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)38
5509-(77/127)187–89
6783-(81/40)46
6843-(81/75)198
Article VII, Section 1, borrowing by Fund*1289-(62/1)148
7677-(84/64)254
Article VIII:
Bilateralism433-(55/42)276
Consultations5392-(77/63)13
Retention quotas201-(53/29)277–79
Article VIII and Article XIV1034-(60/27)281–82
Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)282
Article VIII, Section 2(a):
Payments restrictions144-(52/51)275
3153-(70/95)283
Article VIII, Section 2(b), unenforceability of exchange contracts446–4273
Article VIII, Section 3, multiple currency practices237–2286, 291
5712-(78/41)9
6790-(81/43)296
Article VIII, Section 7B/G Res. 34–3426
Article IX, Section 7, privilege for communications534–3301
Article XII, Section 3(b) (i) and 3(f)2–1303
Article XII, Section 3(c):
Additional appointed Executive Directors*574–2303
Determination of member’s entitlement to appoint Executive Director7060-(82/23)341
“The preceding two years,” meaning597–4304
Article XIV:
Articles VIII and XIV1034-(60/27)281–82
Bilateralism433-(55/42)276
Consultations5392-(77/63)13
Retention quotas201-(53/29)277–79
Article XIV, Section 11034-(60/27)281
Article XIV, Section 2:
Multiple currency practices237–2291
Payments restrictions144-(52/51)275
3153-(70/95)283
Transitional arrangements446–4274
Article XIV, Section 3117–1306
Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S311
6484-(80/77) S314
6485-(80/77) S315
6486-(80/77) S314
7629-(84/25)167
Article XVIII, allocation of special drawing rightsB/G Res. 24–12422
B/G Res. 34–3424–31
Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S316
6368-(79/191) S316
Article XIX, Section 2(c):
Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S311
Operations and transactions in special drawing rights between participants*6000-(79/1) S317
6001-(79/1) S318
*6053-(79/34) S320
*6054-(79/34) S322
6336-(79/178) S324
6337-(79/178) S326
6437-(80/37) S327
Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S329
Article XIX, Section 5(a)(i), designation plans6273-(79/158)
G/S104
Article XIX, Section 6(b), abrogation of rules for reconstitution6832-(81/65) S333
Article XIX, Section 7(a),, calculation of exchange rates*1289-(62/1)155
7041-(82/8)
G/S334
Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71) S311
Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S336
Article XXIIB/G Res. 34–3426
Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S313
Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)337
Article XXVI, Section 3*1289-(62/1)156
Article XXVII*1289-(62/1)157
Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements*270-(53/95)60
Article XXIX (a), list of interpretations under
Article XXX (c):
Exclusion of purchases and holdings under buffer stock facility5591-(77/163)338
Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)338
Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91
Exclusion of purchases and holdings under extended facility6830-(81/65)340
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)340
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)339
Exclusion of purchases under oil facility5371-(77/51)339
Exclusion relating to purchases in credit tranches6830-(81/65)340
Article XXX (f), freely usable currencies5719-(78/46)343
Schedule B, repurchases*5703-(78/39)122–23
5704-(78/39)118
6008-(79/3)196
Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)343
Schedule F, rules for designation6209-(79/124) S330
Schedule G, rules for reconstitution, abrogation6832-(81/65) S333
Schedule J*1289-(62/1)156
Schedule K*1289-(62/1)157
5288-(76/167)176
5387-(77/61)180
Schedule K, paragraph 15288-(76/167)176
5387-(77/61)180
Asian Development Bank, prescription as holder of special drawing rights7229-(82/136) S315n
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)124
6774-(81/35)114
Review7704-(84/78)125
Audit:
Oil facility Subsidy Account*4773-(75/136)373
Supplementary financing facility Subsidy Account6683-(80/185)
G/TR368
Trust Fund5069-(76/72)350
Augmentation; see Purchase transactions, Augmentation
BBalance of payments position:
Assessment for assistance from Trust Fund5069-(76/72)346
Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)
G/S104
Discrimination for balance of payments reasons955-(59/45)280
Bank for International Settlements:
Borrowing agreement with Fund*6863-(81/81)242
7677-(84/64)254
7955-(85/60)266
Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78)
SBS369
Prescription as holder of special drawing rights6484-(80/77) S313
Trust Fund deposits denominated in SDRs5973-(78/189)
TR354
Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S315n
Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
Bilateralism433-(55/42)276
Borrowing by the Fund:
Agreement with Bank for International Settlements*6863-(81/81)242
7677-(84/64)254
7955-(85/60)266
Agreement with central banks and other official institutions6864-(81/81)245
Agreement with Japan7677-(84/64)254
7955-(85/60)266, 268
Agreement with National Bank of Belgium7677-(84/64)254
7955-(85/60)266, 269
Agreement with Saudi Arabian Monetary Agency6843-(81/75)198
Change in conversion arrangements7188-(82/114)227
Supplementary Agreement7677-(84/64)228
Agreement with Swiss National Bank:
19765288-(76/167)172
19775387-(77/61)176
Interest, media of payment5331-(77/15)180
5488-(77/116)181
Transfer charges, media of payment5306-(77/2)181
5488-(77/116)181
Use of special drawing rights in repayment6485-(80/77) S315
Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75)
Annex223–25
Borrowed Resources Suspense Accounts6844-(81/75)269
6845-(81/75)270
7188-(82/114)227
Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)46–49
General Arrangements to Borrow:
Associated borrowing arrangements
“Outstanding borrowing and unused credit lines,” clause in respect of GAB in guidelines for Fund borrowing*7040-(82/7)271
Saudi Arabia, association agreement7403-(83/73)182
Transferability of claims7629-(84/25)166–68
Swiss National Bank, participation of*1289-(62/1)159–60
Switzerland, association of1712-(64/29)168
Transferability of claims, see Transferability of claims
Use of credit arrangements for nonparticipants*1289-(62/1)158–59
Guidelines7040-(82/7)271–72
Issuance of bearer notes by Fund6843-(81/75)199
6864-(81/81)249, 250
Supplementary financing facility:
Authorization to make calls6006-(79/3)195
Interest payment procedure6163-(79/96)196
Meaning of “net creditor position in the Fund”6008-(79/3)196
Replenishment of holdings of currencies5509-(77/127)187
Subsidy Account6683-(80/185)
G/TR362–69
Buffer stock financing facility*2772-(69/47)94
Access limit and review*2772-(69/47)94
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)338
International Natural Rubber Agreement, 19797246-(82/147)102
International Sugar Agreement, 19775597-(77/171)99
International Tin Agreements:
4th3179-(70/102)95
3351-(71/51)96
5th5127-(76/91)96
6th7247-(82/147)97
Repurchases*5703-(78/39)121–23
6th International Tin Agreement7247-(82/147)98
1977 International Sugar Agreement5597-(77/171)101
International Natural Rubber Agreement, 19797246-(82/147)102
CCapital transfers:
Controls by members541-(56/39)147
B/G Res. 29–10392
Restrictions237–2289
Use of Fund’s resources for1238-(61/43)23
B/G Res. IM-6379
Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101) S314n
“Changing circumstances,” adaptation of multiple currency practices237–2293
Charges:
Accounting for charges from members with overdue obligations7930-(85/41)127
Balances held in Fund’s administrative accounts not in excess of 0.1 percent of quota not to be considered part of Fund’s holdings of member’s currency for calculation7060-(82/23)341
Borrowing agreements with Swiss National Bank5288-(76/167)172
5306-(77/2)181
5387-(77/61)176
5488-(77/116)181
Enlarged access policy6783-(81/40)46–49
Extended Fund facility*4377-(74/114)32–36
4720-(75/114)38
*6838-(81/70)61
Future changes4239-(74/67)126
Interest on Trust Fund loans; see Interest
Media of payment*5702-(78/39)
G/S126
Oil facility Subsidy Account; see Accounts, Subsidy Accounts
Overdue obligations to Fund, Special Charges8165-(85/189)
G/TR127–29, 358
Payment by nonparticipant in Special Drawing Rights Department*5702-(78/39)
G/S126
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) S335
Setoff in connection with retroactive reduction8271-(86/74)129
Special charges on overdue obligations to Fund8165-(85/189)
G/TR127–29
Stand-by arrangements*6838-(81/70)65
Supplementary financing facility5508-(77/127)43
Supplementary financing facility Subsidy Account; see Accounts, Subsidy Accounts
Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.381
Final report and terminationB/G Res. 29–7382
Support of extended Fund facility*4377-(74/114)32
Voluntary Declaration of Trade on Other Current Account Measures4254-(74/75)298
Commodities (see also Buffer stock financing facility; Compensatory financing . . .):
Reclassification where subject to multiple currency practices237–2291, 293
Communications, privilege for534–3301
Compensatory financing of export fluctuations6224-(79/135)82
Access limit6224-(79/135)83
Cooperation, guidelines on7528-(83/140)87
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”2836-(69/87)338
Integration of assistance with that available under decision on compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
Repurchases*5703-(78/39)121–23
Representation of intention to repurchase amount of overcompensation6224-(79/135)84
Legal interpretaionEBM/82/185–86
Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
Access limit and review7490-(83/105)93–94
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”*6860-(81/81)91
Repurchases*5703-(78/39)121–23
*6860-(81/81)92
Conditionality; see Use of Fund’s resources, Conditionally
“Consistent with the provisions of this Agreement,” meaning in Article V, Section 3287–323
Consultations with European Monetary Cooperation Fund on calculation of representative rate for European Currency Unit7041-(82/8)
G/S334
Consultation with members:
Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)282
Bilateral arrangements433-(55/42)276–77
Changes in members’ exchange arrangements, notification to Fund5712-(78/41)8
Commodity field, attention to policies*2772-(69/47)95
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)15
6056-(79/38)28
6790-(81/43)297
Discussions on use of Fund’s resources102-(52/11)24
During period of extended arrangement*6838-(81/70)71
During period of stand-by arrangement*6838-(81/70)66
Exchange measures needing approval under Article VIII1034-(60/27)282
Members’ policies in present circumstances4134-(74/4)285
Multiple currency practices237–2288
Periodic discussions under Article VIII1034-(60/27)282
Resumption of purchases under extended arrangements*6838-(81/70)69
Resumption of purchases under stand-by arrangements*270-(53/95)60
*6838-(81/70)64
Retention quotas201-(53/29)277
Special consultations5392-(77/63)13
Whether measure is exchange restriction1034-(60/27)282
Consultations with prescribed holders of special drawing rights6467-(80/71) S312
Convertibility:
Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)282
Approval of exchange restrictions1034-(60/27)282
Bilateralism433-(55/42)276
Consultation with Fund1034-(60/27)282
Discrimination955-(59/45)280
Multiple currency practices; see Multiple currency practices
Retention quotas201-(53/29)277–79
Credit tranches; see Tranche policies
Creditworthiness, factor in determining use of Fund’s resources102-(52/11)24
Currencies (see also Borrowing by the Fund; Covertibility; Holdings of the Fund; Investment):
Arrangements for use in operations and transactions of FundB/G Res. 31–2401
Composition of special drawing right6631-(80/145)
G/S308–309
Freely usable currencies5719-(78/46)343
Guidelines for use in operational budgets6772-(81/35)
G/S110
Guidelines for use in operations and transactions of General Resources Account6273-(79/158)
G/S104
6274-(79/158)105–107
6774-(81/35)112–13
Payment of subscriptions6266-(79/156)4–7
B/G Res. 31–2400
B/G Res. 34–2406–407
B/G Res. 38–1417
Rates for computations and maintenance of value5590-(77/163)130–31
Replenishment in connection with supplementary financing facility5509-(77/127)187
Sale by agreement with member with outstanding purchases6274-(79/158)105–107
6352-(79/183)108
6774-(81/35)112–13
Selection for payment of charges*5702-(78/39)
G/S126
Specified by the Fund, use in repurchases*5703-(78/39)123
5809-(78/88)124
Subscribed to the Fund, ownership170–33
DDebt 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)280
Drawings; see Purchase transactions; Use of Fund’s resources
EEast African Development Bank, prescription as holder of special drawing rights7582-(83/174) S315n
East Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S315n
Enemy-occupied, former, members, introduction of multiple currency practices237–2291, 292
Enhanced surveillanceChairman’s
Summing up19–22
Procedures for transmittal of staff reports8222-(86/45)19
Chairman’s
Summing up19–22
Enlarged access, policy on6783-(81/40)46
Access limits, guidelines*7600-(84/3)50–51
Chairman’s Summing up of Dec. 2, 198352–55
Apportionment between ordinary and borrowed resources7601-(84/3)51–52
Borrowed Resources Suspense Accounts; see Accounts
Borrowing agreement with Bank for International Settlements*6863-(81/81)242
7677-(84/64)254
Borrowing agreement with Japan7677-(84/64)254, 258
Borrowing agreement with National Bank of Belgium7677-(84/64)254, 262
Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)198
Change in conversion arrangements7188-(82/114)227
Supplementary agreement7677-(84/64)228
Borrowing from central banks and other official institutions6864-(81/81)245
Charges6783-(81/40)49
Exclusion of purchases with borrowed resources and holdings under Article XXX(c)6783-(81/40)49
Forms of stand-by and extended arrangements*6838-(81/70)61–71
Period*7599-(84/3)49–50
Repurchases; see Repurchases Review*7599-(84/3)50
Utilization of supplementary financing facility for enlarged access resources; see Supplementary financing facility
European Currency Unit, representative rate in terms of SDR7041-(82/8) G/S334
European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8)G/S334
“Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117–1306
237–2292
Exchange arrangements, notification5392-(77/63)13
5712-(78/41)8
Exchange contracts, unenforceability446–4273–74
Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446–4274
Exchange controls on capital transfers541-(56/39)147
Exchange rates:
Borrowing arrangements by Fund*1289-(62/1)155
Exchange rate policies of members, surveillance5392-(77/63)10
Flexible exchange arrangements5712-(78/41)8–9
Floating, guidelinesB/G Res. 29–10392
Fluctuating:
Multiple currency practices (fixed and fluctuating rates)237–2289
Scope of transactions to be agreed with Fund237–2290
Free markets237–2290
Multiple currency practices arising from official action6790-(81/43)295–97
Notification to Fund5392-(77/63)13
5712-(78/41)8
Pegs, notification to Fund of changes5712-(78/41)8–9
Representative rate for European Currency Unit in terms of SDR7041-(82/8) G/S334
Unification in multiple rate systems a basic objective of Fund649-(57/33)294
Exchange restrictions (see also Payments restrictions):
Approval1034-(60/27)282
Avoidance of escalation4134-(74/4)285
4254-(74/75)298
Bilateralism433-(55/42)276
Capital transactions; see Capital transfers
Consultations with Fund1034-(60/27)282
Discrimination955-(59/45)280
Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)281
Introduction1034-(60/27)281–82
Maintenance1034-(60/27)281–82
Multiple currency practices237–22286
649–07/33)294
6790-(81/43)295–97
Payments arrears3153-(70/95)283–85
Retention quotas201-(53/29)277–79
Security reasons; see Payments restrictions
Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)282
Withdrawal, representation by Fund117–1306
Exchange systems, avoidance of use for nonbalance of payment reasons1034-(60/27)282
Exchange taxes237–2289, 293
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; seeArticle XXX(c)
Executive Board:
Annual review of decision on oil facility Subsidy Account*4773-(75/136)373
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)16
Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)30
Communication of changes in members’ exchange arrangements5712-(78/41)8
Information on operation of buffer stocks3179-(70/102)96
5127-(76/91)97
5597-(77/171)101
7246-(82/147)103
7247-(82/147)99
Report to Board of Governors on quota increases under General Reviews of Quotas:
7thB/G Res. 34–2402
8thB/G Res. 38–1413
Review and change of rules for designation6209-(79/124) S332
Review of broad developments in exchange rates5392-(77/63)13
Review of decision on extended Fund facility*4377-(74/114)35
5220-(76/144)36
7558-(83/156)36
7857-(84/175)37
Review of functioning of international adjustment process5392-(77/63)12
Review of guidelines for borrowing by Fund7040-(82/7)272
Review of level of Fund’s SDR holdings6275-(79/158)
G/S107
7626-(84/23) S111
7941-(85/50) S111
Review of prescriptions of holders of special drawing rights6467-(80/71) S312
Review of quota calculation methodB/G Res. 38–1413
Executive Directors:
Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597–4304
Appointment by members having five largest quotas2–1303
Determination of members entitled to appoint under Article XII, Section 3(c)*574–2303–304
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)341
Participation in meetings of Development CommitteeB/G Res. 29–9388
Participation in meetings of Interim CommitteeB/G Res. 29–8383
Voting power, effect of quota changes180–5304
Export shortfalls, financing; see Compensatory financing of export fluctuations
Extended arrangements*4377-(74/114)32–36
Amendment to utilize supplementary financing7047-(82/13)72
7048-(82/13)74
Amounts to be made available under enlarged access policy decision, guidelines*7600-(84/3)50–51
Augmentation of rights to make purchases, elimination5706-(78/39)71
Charge*4377-(74/114)35
4720-(75/114)38
*6838-(81/70)70
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)340
Form under enlarged access policy*6838-(81/70)61
7048-(82/13)74
7908-(85/26)75
Ineligibility*6838-(81/70)69
Publicity upon declaration7931-(85/41)305
7999-(85/90)305
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)77–79
Noncomplying purchases; see Misreporting and noncomplying purchases
Overdue obligations to Fund, purchases from Fund7908-(85/26)75
EBM/84/5475–76
Provision for enlarged access to Fund’s resources6783-(81/40)46
Provision for supplementary financing5508-(77/127)38–44
6693-(80/177)45
6725-(81/5)45
Repurchases; see Repurchases
Review of decision on extended Fund facility5220-(76/144)36
7558-(83/156)36–37
7857-(84/175)37
Suspension of right to engage in purchase transactions*6838-(81/70)69
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)29
F“First credit tranche,” Fund attitude to request for transactions25
Floating rates; see Exchange rates
Fluctuating exchange rates; see Exchange rates Freely usable currencies5719-(78/46)343
Free markets; see Exchange rates
Fund resources, use; see Use of Fund’s resources
Fund’s holdings; see Holdings of the Fund
GGeneral Agreement on Tariffs and Trade1034-(60/27)283
4254-(74/75)299–300
B/G Res. 29–10393
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)122–23
5809-(78/88)123–24
Sale, amounts available to Trust Fund5069-(76/72)349
Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)344
5709-(78/41) TR354–55
5832-(78/95) TR355
6540-(80/98) TR360
Sale, transfer of profits to Trust Fund5069-(76/72)345
Subscribed to Fund, ownership170–33
Gross reserve position; see Reverse position, gross
HHoldings of the Fund:
Adjustment by Fund5590-(77/163)130–31
Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)114
*6831-(81/65)124
Attribution of reductions to repurchase obligations*6831-(81/65)124
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)341
Computations and adjustment, rates5590-(77/163)130–31
Exclusion of holdings resulting from credit tranche purchases6830-(81/65)340
Exclusion under buffer stock facility5591-(77/163)338
Exclusion under compensatory financing of export fluctuations2836-(69/87)338
Exclusion under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91–92
Exclusion under enlarged access policy6783-(81/40)340
Exclusion under extended Fund facility6830-(81/65)340
Exclusion under oil facility5371-(77/51)339
Exclusion under supplementary financing facility5508-(77/127)339
Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Repurchases; see Repurchases
IImport restrictions imposed for balance of payments reasons, GATT members1034-(60/27)283
Ineligibility; see Extended arrangements; Stand-by arrangements; Use of Fund’s resources
Interest:
Charge on loans from Trust Fund5069-(76/72)348
Payment on Fund indebtedness to Bank for International Settlements*6863-(81/81)243–44
Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)246
Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)202
Payment on Fund indebtedness to Swiss National Bank5288-(76/167)174
5331-(77/15)180–81
5387-(77/61)178
5488-(77/116)181
Payment on Fund indebtedness under General Arrangements to Borrow*1289-(62/1)152
Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185)
G/TR364
Payment under supplementary financing facility5509-(77/127)
Annex191
6163-(79/96)196
Payments by members under Trust Fund loan agreements6358-(79/188)
Interim Committee of the Board of Governors on the International Monetary System:
EstablishmentB/G Res. 29–8382
Review of functioning of international adjustment process5392-(77/63)12
Rules of procedure395
International Bank for Reconstruction and Development, prescription as holder of special drawing rights6718-(81/1) S 6718-(81/1) S314n 314n
International Development Association, prescription as holder of special drawing rights6718-(81/1) S314n
International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S314n
International monetary system, reformB/G Comp. Res.381
International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
Interpretation of Articles of Agreementxxvii
Investment:
Currencies held in oil facility Subsidy Account*4773-(75/136)372
Currencies held in supplementary financing facility Subsidy Account6683-(80/185)
G/TR364, 367
6854-(81/78)
SBS369
Currency balances held in Trust Fund5069-(76/72)350
5972-(78/189)353
5973-(78/189)
TR354
Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S315n
JJapan, Borrowing agreement with Fund; see Borrowing by the Fund
Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries:
EstablishmentB/G Res. 29–9385
Rules of procedure395
Secretariat function, changes in organization of work and structure397
MManaging Director:
Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)269
6845-(81/75)270
Authority to establish oil facility Subsidy Account*4773-(75/136)371
Authority to make calls under borrowing arrangements in connection with supplementary financing facility6006-(79/3)195
Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)198
Consultation by eligible member to request assistance from Trust Fund5069-(76/72)346
Consultation by member before making request under supplementary financing facility5508-(77/127)39
Consultation by member contemplating request under extended Fund facility*4377-(74/114)33
Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)46
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)109
Consultations with lenders on means of interest payment under borrowing agreements in connection with supplementary financing facility6163-(79/96)196
Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements*6854-(81/78)
SBS369
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)114
Discussions with members on exchange policies5392-(77/63)14
6026-(79/13)15
Participation in meetings of Development CommitteeB/G Res. 29–9388
Participation in meetings of Interim CommitteeB/G Res. 29–8383
Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189)
TR354
Proposal for allocation of SDRs:
1st basic periodB/G Res. 24–12422
3d basic periodB/G Res. 34–3424
4th basic period434
Proposals for calls under General Arrangements to Borrow*1289-(62/1)151, 159
1712-(64/29)168
Proposals for Trust Fund investments5973-(78/189)
TR354
Recommendations to Executive Board regarding approval of use of Fund resources and standby arrangements6056-(79/38)27
Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period434
Misreporting and noncomplying purchases, guidelines on corrective action; see Extended or Stand-by arrangement
Monetary stabilization operations, use of Fund’s resources71–223
B/G Res. IM-6379
Multiple currency practices:
Policy237–2286
649-(57/33)294
6790-(81/43)295
Prior Fund approval5712-(78/41)9
Spreads6790-(81/43)295–96
N“Net creditor position in the Fund”6008-(79/3)196
Noncomplying purchases; see Stand-by or extended arrangement, Misreporting and noncomplying purchases
Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S314n
OOil facility:
1975 facility
Subsidy Account*4773-(75/136)371
Final review and report on termination7420-(83/82)374
7484-(83/117)374–75
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5371-(77/51)339
Operational budgets:
Assessment of strength of member’s balance of payments and gross reserve position6273-(79/158)
G/S104
Sales of SDRs and use of currencies6772-(81/35)
G/S110
Overdue obligations to Fund, purchases from Fund; (see also Extended or Stand-by arrangements)7908-(85/26)64, 69, 75
Accounting for overdue charges7930-(85/41)127
Complaint, period of considerationChairman’s
Summing up76–77
Deferred income7930-(85/41)127
Publicity upon declaration of ineligibility7999-(85/90)305
Reporting by Fund7931-(85/41)305
Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)129
Special charges on8165-(85/189)
G/TR127–29
Overdue payments to Fund; see Overdue obligations to Fund
PPayments arrears3153-(70/95)283
Payments policies of members4134-(74/4)285
Payments restrictions (see also Exchange restrictions; Payments arrears):
For security reasons, Fund jurisdiction144-(52/51)275–76
Withdrawal or general abandonment117–1306
“Position in the Fund,” definition6274-(79/158) 6772-(81/35)106
G/S111
Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)275
Publication of reports, overdue obligations7931-(85/41)305
Publicity on declaration of ineligibility7999-(85/90)305
Purchase transactions (see also Use of Fund’s resources):
Augmentation of rights to purchase under standby and extended arrangements, elimination5706-(78/39)71
Purchase under buffer stock financing facility*2772-(69/47)94
3179-(70/102)95
5127-(76/91)96–97
5597-(77/163)338
5597-(77/171)99
7246-(82/147)102
7247-(82/147)97
Purchases under compensatory financing of export fluctuations2836-(69/87)338
6224-(79/135)82–85
Purchases under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88–93
Purchases under credit tranche; see Tranche policies
Purchases under extended arrangements5508-(77/127)40
6783-(81/40)46–47
6830-(81/65)72
*6838-(81/70)67–71
7048-(82/13)74
Purchases under policy on enlarged access6783-(81/40)46
Purchases under stand-by arrangements5508-(77/127)39–40
6783-(81/40)47
*6838-(81/70)61–66
7048-(82/13)74
Purchases under supplementary financing facility5508-(77/127)39–40
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal*6838-(81/70)69–70
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)60
*6838-(81/70)65
Suspension, effect on General Arrangements to Borrow*1289-(62/1)157
Suspension of transactions under extended arrangements*6838-(81/70)69
Suspension of transactions under stand-by arrangements*270-(53/95)60
*6838-(81/70)64–65
QQuotas:
Adjustment, first interval of five years408–23
Calculation, review of methodB/G Res. 38–1414
Change, effect on voting power of elected Executive Director180–5304
Reviews:
1st408–23
6th GeneralB/G Res. 29–10395
B/G Res. 31–2399
7th GeneralB/G Res. 34–2402
Sale of SDRs by Fund to members for use in quota payments6663-(80/160) S116
8th GeneralB/G Res. 38–1413
Special adjustment for members with very small quotasB/G Res. 38–1415
RRates for official communications of Fund534–3301–302
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)341
Repayment by Fund of borrowed currency*1289-(62/1)153–54
1712-(64/29)170
5288-(76/167)175
5387-(77/61)179
5509-(77/127)192
6843-(81/75)202, 204
6864-(81/81)247
Replenishment; seeArticle VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Reporting by the Fund of overdue obligations7931-(85/41)305
Repurchases:
Attribution of reductions in Fund’s holdings of currencies6774-(81/35)114
*6831-(81/65)124
Currency resulting from purchase under credit tranches*5703-(78/39)121–22
Currency resulting from purchase under extended arrangement*6838-(81/70)70
Currency resulting from purchase under standby arrangement*6838-(81/70)65
Early, guidelines5704-(78/39)117
6172-(79/101)119
6273-(79/158)
G/S104
Guidelines for selection of currencies6274-(79/158)105
6774-(81/35)112
Obligations to pay gold, payment with SDRs or currencies of other members*5703-(78/39)122
5809-(78/88)123
Of Fund’s holdings102-(52/11)24–25
Procedures*5703-(78/39)121
Under buffer stock financing facility*5703-(78/39)121
6th International Tin Agreement7247-(82/147)97
1977 International Sugar Agreement5597-(77/171)99
International Natural Rubber Agreement, 19797246-(82/147)102
Under compensatory financing of export fluctuations*5703-(78/39)121
Representation of intention to repurchase amount of overcompensation6224-(79/135)84
Under compensatory financing of fluctuations in the cost of cereal imports*5703-(78/39)121
*6860-(81/81)92
Under decision on enlarged access6783-(81/40)48
Under extended Fund facility*4377-(74/114)35
Under supplementary financing facility5508-(77/127)42–43
Reserve assets:
Guidelines for determining amount to be paid in connection with subscriptions6266-(79/156)4
Payment for subscriptions under 8th General Review of QuotasB/G Res. 38–1416, 418
Reserve position, gross, assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158)
G/S104
Reserve tranche position:
Attribution of reductions in Fund’s holdings of currencies to enlarge6774-(81/35)114
*6831-(81/65)124
Review7704-(84/78)125
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)341
Reserve tranche purchases (see also Use of Fund’s resources):
Exclusion of purchases and holdings in credit tranches6830-(81/65)340
Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)338
Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)338
Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)91
Exclusion of purchases and holdings under extended facility6830-(81/65)340
Exclusion of purchases and holdings under oil facility5371-(77/51)x339
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)340
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)339
Restrictions; see Exchange restrictions; Payments restrictions
Retention quotas201-(53/29)277
Rule G-1*1289-(62/1)156
Rule O-2:
Determination of exchange rate*1289-(62/1)155
5288-(76/167)173
5387-(77/61)177–78
5590-(77/163)130
6001-(79/1) S318–19
6053-(79/34) S320
6054-(79/34) S322
6336-(79/178) S324
7041-(82/8)
G/S334
Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S310
Rule P-7:
Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S327
Declaration concerning use of special drawing rights in accordance with prescription on forward operations6337-(79/178) S326
Declaration concerning use of special drawing rights in accordance with prescription on loans6001-(79/1) S319
Declaration concerning use of special drawing rights in accordance with prescription on pledges*6053-(79/34) S321
Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations*6000-(79/1) S317
Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S325
Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations*6054-(79/34) S323
Rule P-9, record of operations in special drawing rights*6000-(79/1) S318
6001-(79/1) S320
*6053-(79/34) S322
*6054-(79/34) S324
6336-(79/178) S325
6337-(79/178) S327
6437-(80/37) S327
8186-(86/9)
SBS/S328
Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65) S333
SSaudi Arabia, association agreement under General Arrangements to Borrow; see Borrowing by the Fund
Saudi Arabian Monetary Agency, borrowing agreement with Fund6843-(81/75)198
Change in conversion arrangements7188-(82/114)227
Supplementary agreement7677-(84/64)228
Transferability of claims7629-(84/25)166
Special Disbursement Account; see Accounts
Special drawing rights:
Allocation for first basic periodB/G Res. 24–12422
Allocation for third basic periodB/G Res. 34–3424
New participants5956-(78/180) S316
6368-(79/191) S316
Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board434
Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
Annex193
Designation, review of rules and method of calculating amounts6209-(79/124) S329
Holders prescribed by the Fund:
Andean Reserve Fund6486-(80/77) S314
Arab Monetary Fund6609-(80/126) S314n
Asian Development Bank7229-(82/136) S315n
Bank for International Settlements6484-(80/77) S313
Bank of Central African States7064-(82/26) S314n
Central Bank of West African States6908-(81/101) S314n
East African Development Bank7582-(83/174) S315n
East Caribbean Central Bank7707-(84/79) S315n
International Bank for Reconstruction and Development6718-(81/1) S314n
International Development Association6718-(81/1) S314n
International Fund for Agricultural Development6489-(80/77) S314n
Islamic Development Bank7086-(82/42) S315n
Nordic Investment Bank6488-(80/77) S314n
Swiss National Bank6485-(80/77) S315
Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S311
Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
Loans for Trust Fund expressed in5069-(76/72)348
Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S310
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) S333
Sale by Fund to members for use in quota payments under 7th General Review6663-(80/160) S116
Sale by Fund, guidelines6772-(81/35)
G/S110
SDR-denominated deposits with Bank for International Settlements5973-(78/189)
TR354
Transfers under Article V, Section 3(f)6275-(79/158)
G/S107
Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)105
6774-(81/35)112
Use in donations6437-(80/37) S327
Use in donations and loans to supplementary financing facility Subsidy Account6683-(80/185)
G/TR367
Use in forward operations6337-(79/178) S326
Use in loans6001-(79/1) S318
Use in operations under Structural Adjustment Facility8239-(86/56)
SAF328
Use in payment of charges*5702-(78/39)
G/S126
Use in payment of 25 percent of quota increasesB/G Res. 31–2400
B/G Res. 34–2407
B/G Res. 38–1416
Use in payment of subsidy8186-(86/9)
SBS/S327–28
Use in pledges*6053-(79/34) S320–22
Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S315
Use in repurchases*5703-(78/39)122–23
5809-(78/88)123
Use in settlement of financial obligations*6000-(79/1) S317
Use in swap operations6336-(79/178) S324
Use in transfers as security for performance of financial obligations*6054-(79/34) S322
Valuation basket, guidelines for calculation of currency amount8160-(85/186)
G/S309
Valuation for use in borrowing arrangements*1289-(62/1)155
5288-(76/167)173
5387-(77/61)177
6843-(81/75)203
Valuation, interimB/G Res. 29–10393–94
Valution method6631-(80/145)
G/S307
Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S310
Special Drawing Rights Department, payment of net charges and assessment7116-(82/68) S335
Stabilization of prices of primary products, Fund facility; see Buffer stock financing facility
Stand-by arrangements:
Amendment to utilize supplementary financing7047-(82/13)72
7048-(82/13)74
Amounts to be made available under enlarged access policy decision, guidelines6783-(81/40)47
7600-(84/3)50–51
Augmentation of rights to make purchases, elimination5706-(78/39)71
Charges*6838-(81/70)65
Conditionality, guidelines6056-(79/38)26–28
Review8192-(86/13)37–38
Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)340
Foreign borrowing, performance criteria6230-(79/140)29
Form under enlarged access policy*6838-(81/70)61–66
7048-(82/13)74
Ineligibility*270-(53/95)60
*6838-(81/70)65
Publicity upon declaration of7999-(85/90)305
7931-(85/41)305
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)77
Noncomplying purchases; see Misreporting and noncomplying purchases, above
Overdue obligations to the Fund, purchases from Fund7908-(85/26)64, 69, 75
EBM/84/5475–76,
Payments arrears, performance criteria3153-(70/95)284–85
Period*270-(53/95)59
5508-(77/127)40
6783-(81/40)47
Performance criteria and phasing, operational guidelines7925-(85/38)80
Policies and procedures*270-(53/95)60
Provision for enlarged access to Fund’s resources6783-(81/40)46
Provision for supplementary financing5508-(77/127)38
6693-(80/177)45
6725-(81/5)45
Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)80
Renewal*270-(53/95)59
Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
Suspension of right to engage in purchase transactions*270-(53/95)60
*6838-(81/70)64–65
Utilization of supplementary financing facility for enlarged access resources; see Amendment to utilize . . ., above
Structural adjustment facility:
Income from investment and loans, availability of use8237-(86/56)
SAF132–33
List of eligible members and amounts of assistance8240-(86/56)
SAF137–38
Regulations for administration8238-(86/56)
SAF133–38
Chairman’s
Summing up140–45
Review of operation8241-(86/56)
SAF139
Use of SDRs in operation8239-(86/56)
SAF328
Subscriptions:
Gold and currency, ownership by Fund170–33
Payment of quota increasesB/G Res. 31–2400
B/G Res. 34–2407, 409
B/G Res. 38–1416, 418
Reserve assets:
Guidelines for determining amounts to be paid6266-(79/156)4
Payment under 8th General Review of QuotasB/G Res. 38–1416, 418
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)195
Charges; see Charges
Establishment5508-(77/127)38
Extension of period6725-(81/5)45
No augmentation of rights to purchase5706-(78/39)71
Replenishment of Fund’s holdings of currencies5509-(77/127)187
Interest payments under borrowing agreements6163-(79/96)196
Meaning of “net creditor position in the Fund”6008-(79/3)196
Report on use6445-(80/43)44
Repurchases; see Repurchases
Review of decision on establishment6693-(80/177)45
6725-(81/5)45
Subsidy Account
Effect on subsidy cost of substituting supplementary financing for enlarged access resources7047-(82/13)74
Instrument6683-(80/185)
G/TR362
Investment of currencies6854-(81/78)
SBS369
8184-(86/9) SBS369
Means of Payments8185-(86/9)
SBS/S370
Subsidy payments, July 1, 1984-June 30, 19858037-(85/110)
SBS371
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81)
SBS369
Transferability of claims; see Transferability of claims
Utilization of supplementary financing facility for enlarged access resources7047-(82/13)72
7048-(82/13)74
Surveillance over exchange rate policies5392-(77/63)9–14
8248-(86/60)16
Enhanced surveillance; see Enhanced surveillance
Procedures; implementation of three-month period7427-(83/83)17–18
Review of procedures6026-(79/13)14–15
7646-(84/40)16
7939-(85/49)16
8249-(86/60)17
Swiss National Bank:
Borrowing agreements with Fund5288-(76/167)172
5387-(77/61)176
Transfer charges and interest, media of payment5306-(77/2)181
5331-(77/15)180
5488-(77/116)181
Use of special drawing rights to repay indebtedness6485-(80/77) S315
Participation in General Arrangements to Borrow*1289-(62/1)159–60
Prescription as holder of special drawing rights6485-(80/77) S315
Transferability of claims under General Arrangements to Borrow7628-(84/25)165
Switzerland:
Association with General Arrangements to Borrow1712-(64/29)168
TTechnical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)295
Tin Agreements, International; see Buffer stock financing facility
Trade, Voluntary Declaration4254-(74/75)298
B/G Res. 29–10393
Tranche policies:
Application in connection with compensatory financing facility6224-(79/135)85
Application in connection with decision on enlarged access6783-(81/40)46, 49
Application in connection with supplementary financing facility5508-(77/127)39, 43
Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)340
Fund attitude to request for transactions within “first credit tranche” and beyond
Transferability of claims:
General Arrangements to Borrow*1289-(62/1)155–56
7628-(84/25)165
Saudi Arabia’s borrowing agreement7629-(84/25)166
Transitional provisions of Article XIV117–1306
1034-(60/27)281
Trust Fund:
Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)344
5709-(78/41)
TR355
5832-(78/95)
TR355
6540-(80/98)
TR359
Diversification of investments5972-(78/189)353
5973-(78/189)
TR354
Eligible members, review of list5563-(77/150)
TR352–53
Final payments of profits and loans for period July 1, 1976–June 30, 19785832-(78/95)
TR355
Instrument5069-(76/72)344
Amendment5563-(77/150)
TR352–53
5972-(78/189)353
6793-(81/45)362
Means of payment of interest6358-(79/188)
TR357
Means of repayment by members on their indebtedness under loan agreements7142-(82/85)
TR358
Overdue interest and special charges8165-(85/189)
G/TR358–59
Repayment terms:
Final loan disbursement6793-(81/45)362
Second period:
Extension6466-(80/68)
TR356
6676-(80/168)
TR357
Extension of period for qualification6202-(79/121)
TR356
Timing of loan disbursements6201-(79/121)
TR355
Special charges on overdue interest8165-(85/189)
G/TR358–59
Termination and transfer of resources to Special Disbursement Account6683-(80/185)
G/TR363
6704-(80/185)
TR360
UUnenforceability; see Exchange contracts
United Nations:
Agreement with International Monetary Fund439
Convention on the Privileges and Immunities of the Specialized Agencies446
Application to Fund464
List of members which have accepted with respect to Fund465
General Assembly Resolution entitled “Uniting for Peace,” due regard by Fund in conduct of its activitiesB/G Res. 6–8380
United States dollars:
Determination of value in terms of special drawing right pursuant to Rule O-2(a)6709-(80/189) S310
Inclusion in operational budgets6772-(81/35)
G/S110
Use for payment of interest and other Fund liabilities5288-(76/167)176
5306-(77/2)181
5331-(77/15)180–81
5387-(77/61)179
5488-(77/116)181
6358-(79/188)
TR357
*6863-(81/81)244
Use for repayment by members on their indebtedness under Trust Fund loan agreements7142-(82/85)
TR358
Use in payments under oil facility Subsidy Account7420-(83/82)374
7484-(83/117)374
Use in payments under supplementary financing facility Subsidy Account7754-(84/108)
SBS370
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)60
Authority to use resources of Fund, interpretation of Articles of Agreement71–223
Buffer stock financing*2772-(69/47)94
Buffer stock financing facility as applied to 1977 International Sugar Agreement5597-(77/171)99
Buffer stock financing facility as applied to International Tin Agreements:
4th3179-(70/102)95
3351-(71/51)96
5th5127-(76/91)96
Capital transfers1238-(61/43)23
Compensatory financing of export fluctuations*6224-(79/135)82
Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)88
Conditionality, guidelines6056-(79/38)26
Review8192-(86/13)37–38
“Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287–323
Credit tranche policies; see Tranche policies
Enlarged access, policy on*6783-(81/40)46
Extended Fund facility*4377-(74/114)32
“First credit tranche”25
In accordance with purposes of Fund102-(52/11)24
Ineligibility:
Effect on purchases under extended arrangement*6838-(81/70)69
Effect on purchases under stand-by arrangement*270-(53/95)60
*6838-(81/70)65
Publicity upon declaration7999-(85/90)305
7931-(85/41)305
Under Article V, Section 5284–3115
Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343-(54/47)337
Interpretation of Articles of Agreement23,273
Limit on access to Fund resources, guideline*7600-(84/3)50
Limitation under Article V, Section 5284–3115
286–1115
Monetary stabilization71–223
Postponement, limitation under Article V, Section 5286–1115
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)70
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)60
*6838-(81/70)65
Stand-by and extended arrangements, forms under enlarged access policy*6838-(81/70)61
Suspension of exchange transactions, effect on General Arrangements to Borrow*1289-(62/1)157
Suspension of transactions under extended arrangements*6838-(81/70)69
Suspension of transactions under stand-by arrangements*270-(53/95)60
*6838-(81/70)64
Temporary assistance in financing balance of payments deficits71–223
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*2772-(69/47)94
6224-(79/135)85
*6860-(81/81)93
VVoluntary Declaration on Trade and Other Current Account Measures4254-(74/75)298
B/G Res. 29–10393
Voting power, elected Executive Directors, effect of chage in quota180–5304
WWaiver of condition of Article V, Section 3(b)(iii)*4377-(74/114)34
5508-(77/127)43
6783-(81/40)49
World Economic Outlook, framework for discussions of international adjustment process5392-(77/63)13

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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