Selected Decisions Supplement (13th Ed)
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
April 1988
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Index

(*indicates Decision as amended)

Decision No.Page
A Accounting 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)359
Borrowed Resources Suspense Accounts6844-(81/75)285–86
6845-(81/75)286–87
7188-(82/114)236
General Account; see General Resources Account, below
General Resources Account:
Adjustment of currency holdings of members5590-(77/163)140
Exchange rate for Fund computations5590-(77/163)139
Level of Fund SDR holdings, maintenance6275-(79/158) G/S107
7626-(84/23) S111
7941-(85/50)S111–12
8265-(86/70) S112
8574-(87/64) S112
Purchase of SDRs for payment of charges*5702-(78/39) G/S127–28
Reimbursement for expenses of carrying out business of supplementary financing facility Subsidy Account6683-(80/185) G/TR385
Reimbursement for expenses of conducting business of Trust Fund5069-(76/72)362, 368
Sales of SDRs for payment of quota increases by members under 7th General Review of Quotas6663-(80/160) S117
Special Disbursement Account, transfers to supplementary financing facility Subsidy Account6683-(80/185) G/TR380–81
6704-(80/185) TR378
Investment7990-(85/81)141
8029-(85/105)141
Structural adjustment facility; see Structural adjustment facility
Special Drawing Rights Department, payment of net charges and assessments7116-(82/68)S352–53
Subsidy Accounts:
Oil facility*4773-(75/136)390–92
Final review and report on termination7420-(83/82)392
Supplementary financing facility:
Disbursement of additional subsidy amounts for period ending June 30, 19868523-(87/25) SBS389–90
Instrument6683-(80/185) G/TR379–86
Investment of currencies*6854-(81/78) SBS386–87
Means of payments8185-(86/9) SBS/S387
Subsidy payments, July 1, 1983–June 30, 19847754-(84/108) SBS388
Subsidy payments, July 1, 1984–June 30, 19858037-(85/110) SBS388
Subsidy payments, July 1, 1985–June 30, 19868492-(87/1) SBS389
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS387
Transfer of funds from Special Disbursement Account following termination of Trust Fund6704-(80/185) TR378
Accrued charges and income; see Overdue obligations to Fund, purchase from Fund
Adjustment process, international, review5392-(77/63)12
Administrative accounts; see Accounts
African Development Bank and African Development Fund, prescription as holders of SDRs8318-(86/104) S331
Andean Reserve Fund, prescription as holder of special drawing rights6486-(80/77) S331
Arab Monetary Fund, prescription as holder of special drawing rights6609-(80/126) S331
Articles of Agreement1
Amendment, SecondB/G Res. 29-8400–403
B/G Res. 29-10408–413
Article I, purposes of the Fund287-324
433-(55/42)293
1034-(60/27)298
*4377-(74/114)33
*4773-(75/136)390
5069-(76/72)362
Article III, Section 2, adjustment of quotas408-23
Article III, Section 2(a), general review of quotasB/G Res. 31-2417
B/G Res. 34-2420
B/G Res. 38-1431
Article IV:
Consultations5392-(77/63)9–15
6026-(79/13)15
6056-(79/38)27
6790-(81/43)314
7427-(83/83)18–19
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 policies*5392-(77/63)10–11
6026-(79/13)14
Article V, Section 1*1289-(62/1)165
Article V, Section 3, application of Fund policies to purchases of currency borrowed by Fund*1289-(62/1)161
Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-324
Article V, Section 3(b)(iii), waiver*4377-(74/114)35
5508-(77/127)44
6783-(81/40)50
Article V, Section 3(d):
Sale of members’ currencies for repurchases5704-(78/39)119
Selection of currencies in purchases6273-(79/158) G/S104
6274-(79/158)105, 106
6352-(79/183)108
6774-(81/35)112, 113
Article V, Section 3(f), transfers of SDRs6275-(79/158) G/S107
Article V, Section 5, limitation on use of Fund’s resources284-3116
286-1116
7842-(84/165)80
Article V, Section 6, sale of SDRs by the Fund6663-(80/160)S117
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)161
*5703-(78/39)123–24
5704-(78/39)118–19
*5809-(78/88)125
Article V, Section 7(b), early repurchases5704-(78/39)118
6172-(79/101)120
6273-(79/158) G/S104
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/S127
Article V, Section 8(b), charges*5703-(78/39)122
6008-(79/3)205
7060-(82/23)359
Article V, Section 8(b), (c), and (d), charges4239-(74/67)127
Article V, Section 9(a), remuneration7060-(82/23)359
Article V, Section 11, adjustment of Fund’s holdings of members’ currencies5590-(77/163)140
Article V, Section 12(f)(ii), balance of payments assistance on special terms to low-income developing members in difficult circumstances6704-(80/185) TR379
Article VI, Section 1, use of Fund’s resources541-(56/39)156
1238-(61/43)24
Article VI, Section 3, controls on capital transfers541-(56/39)156
Article VII, replenishment of Fund’s holdings of currencies5508-(77/127)39
5509-(77/127)196
6783-(81/40)47
6843-(81/75)207
Article VII, Section 1, borrowing by Fund*1289-(62/1)157
7677-(84/64)267
Article VIII:
Bilateralism433-(55/42)293
Consultations5392-(77/63)13
Retention quotas201-(53/29)294–96
Article VIII and Article XIV1034-(60/27)298–300
Article VIII, Sections 2, 3, and 4, acceptance of obligations1034-(60/27)299
Article VIII, Section 2(a):
Payments restrictions144-(52/51)292
3153-(70/95)300
Article VIII, Section 2(b), unenforceability of exchange contracts446-4290
Article VIII, Section 3, multiple currency practices237-2303, 308
5712-(78/41)9
6790-(81/43)313, 314
Article VIII, Section 7B/G Res. 34-3444
Article IX, Section 7, privilege for communications534-3318
Article XII, Section 3(b)(i) and 3(f)2-1320
Article XII, Section 3(c)
Additional appointed Executive Directors*574-2320
Determination of member’s entitlement to appoint Executive Director7060-(82/23)359
“The preceding two years,” meaning597-4321
Article XIV:
Articles VIII and XIV1034-(60/27)298–300
Bilateralism433-(55/42)293
Consultations5392-(77/63)13
Retention quotas201-(53/29)294–96
Article XIV, Section 11034-(60/27)298
Article XIV, Section 2:
Multiple currency practices237-2308
Payments restrictions144-(52/51)292
3153-(70/95)300
Transitional arrangements446-4291
Article XIV, Section 3117-1323
Article XVII, Section 3, other holders of special drawing rights6467-(80/71) S328
6484-(80/77) S330–31
6485-(80/77) S332
4686-(80/77) S331
7629-(84/25)176
Article XVIII, allocation of special drawing rightsB/G Res. 24-12440
B/G Res. 34-3442
Article XVIII, Section 2(d), allocations of special drawing rights to new participants5956-(78/180) S333
6368-(79/191)S333
Article XIX, Section 2(c):
Acceptance and use of special drawing rights by prescribed holders6467-(80/71) S328
Operations and transactions in special drawing rights between participants*6000-(79/1) S334
6001-(79/1)S335
*6053-(79/34) S337
*6054-(79/34) S339
6336-(79/178) S341
6337-(79/178) S342
6437-(80/37) S344
Article XIX, Section 5, designation of participants to provide currency6209-(79/124) S346
Article XIX, Section 5(a)(i), designation plans6273-(79/158) G/S104
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)164
7041-(82/8) G/S351
Article XX, Section 1, interest paid on holdings of special drawing rights6467-(80/71)S328
Article XX, Section 5, application against unpaid charges of special drawing rights acquired by participants after payment date7116-(82/68) S353
Article XXIIB/G Res. 34-3444
Article XXIII, Section 1, suspension of operations and transactions in special drawing rights6467-(80/71) S330
Article XXVI, Section 2(a), ineligibility to use Fund resources343-(54/47)354
Article XXVI, Section 3*1289-(62/1)165
Article XXVII*1289-(62/1)165
Article XXVII, Section 1(a)(i), suspension of transactions covered by stand-by arrangements*270-(53/95)61
Article XXIX (a), list of interpretations underxxviii
Article XXX(c):
Exclusion of purchases and holdings under buffer stock facility5591-(77/163)356
Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)355
Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)92
Exclusion of purchases and holdings under extended facility6830-(81/65)358
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)358
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)357
Exclusion of purchases under oil facility5371-(77/51)357
Exclusion relating to purchases in credit tranches6830-(81/65)358
Article XXX(f), freely usable currencies5719-(78/46)360
Schedule B, repurchases*5703-(78/39)123–24
5704-(78/39)119
6008-(79/3)205
Schedule B, paragraph 7(b), use of amounts in excess of capital value available from gold sales for benefit of developing countries5069-(76/72)361
Schedule F, rules for designation6209-(79/124) S347
Schedule G, rules for reconstitution, abrogation6832-(81/65) S350
Schedule J*1289-(62/1)165
Schedule K*1289-(62/1)166
5288-(76/167)185
5387-(77/61)189
Schedule K, paragraph 15288-(76/167)185
5387-(77/61)189
Asian Development Bank, prescription as holder of special drawing rights7229-(82/136)S331n
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)125
6774-(81/35)115
Review7704-(84/78)126
Audit:
Oil facility Subsidy Account*4773-(75/136)391
Supplementary financing facility Subsidy Account6683-(80/185) G/TR385
Trust Fund5069-(76/72)368
Augmentation; see Purchase transactions, Augmentation
B Balance of payments position:
Assessment for assistance from Trust Fund5069-(76/72)364
Assessment for purposes of designation plans, operational budgets, and early repurchases6273-(79/158) G/S104
Discrimination for balance of payments reasons955-09/45)297
Bank for International Settlements:
Borrowing agreement with Fund*6863-(81/81)253
7677-(84/64)265, 26
7955-(85/60)277–79
Deposit by Managing Director of currencies held in supplementary financing facility Subsidy Account6854-(81/78) SBS386
Prescription as holder of special drawing rights6484-(80/77) S330
Trust Fund deposits denominated in SDRs5973-(78/189) TR372
Bank of Central African States, prescription as holder of special drawing rights7064-(82/26) S33 In
Belgium, National Bank of, Borrowing agreement with Fund; see Borrowing by the Fund
Bilateralism433-(55/42)293
Borrowed Resources Suspense Accounts; see Borrowing by the Fund, below
Borrowing by the Fund:
Agreement with Bank for International Settlements*6863-(81/81)253
7677-(84/64)265
7955-(85/60)277
Agreement with central banks and other official institutions6864-(81/81)256
Agreement with Japan7677-(84/64)269
7955-(85/60)277, 279
8486-(86/205)280–85
Agreement with National Bank of Belgium7677-(84/64)265, 273
7955-(85/60)277, 280
Agreement with Saudi Arabian Monetary Agency6843-(81/75)207
Amendment8460-(86/189)251
Change in conversion arrangements7188-(82/114)236
Supplementary Agreement7677-(84/64)237
Extension of Commitment period8460-(86/189)251–52
Agreement with Swiss National Bank:
19765288-(76/167)181
19775387-(77/61)185
Interest, media of payment5331-(77/15)189
5488-(77/116)190
Transfer charges, media of payment5306-(77/2)190
5488-(77/116)190
Use of special drawing rights in repayment6485-(80/77) S332
Agreements between Fund and its members, memorandum of Director of the Legal Department of the Fund6843-(81/75) Annex232–34
Borrowed Resources Suspense Accounts6844-(81/75)285–86
6845-(81/75)286–87
7188-(82/114)236
Borrowed resources, use to finance purchases under arrangements providing enlarged access to Fund’s resources6783-(81/40)47
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)287
Saudi Arabia, association agreement7403-(83/73)191
Transferability of claims7629-(84/25)175–77
Swiss National Bank, participation of*1289-(62/1)168
Switzerland, association of1712-(64/29)177
Transferability of claims; see Transferability of claims
Use of credit arrangements for nonparticipants
*1289-(62/1)167
Guidelines7040-(82/7)287
Issuance of bearer notes by Fund684 3-(81/75)208
6864-(81/81)259
Supplementary financing facility:
Authorization to make calls6006-(79/3)204
Interest payment procedure6163-(79/96)205
Meaning of “net creditor position in the Fund”6008-(79/3)205
Replenishment of holdings of currencies5509-(77/127)196
Subsidy Account6683-(80/185) G/TR379–86
Buffer stock financing facility*2772-(69/47)94
Access limit and review*2772-(69/47)95
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”5591-(77/163)356
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)97
6th7247-(82/147)97
Repurchases*5703-(78/39)122
6th International Tin Agreement7247-(82/147)99
1977 International Sugar Agreement5597-(77/171)101
International Natural Rubber Agreement, 19797246-(82/147)102
Burden sharing*8348-(86/122)132
8515-(87/23)138
M.D.’s remarks136–37
C Capital transfers:
Controls by members541-(56/39)156
B/G Res. 29-10410
Restrictions237-2306
Use of Fund’s resources for1238-(61/43)24
B/G Res. IM-6397
Central Bank of West African States, prescription as holder of special drawing rights6908-(81/101)S331n
“Changing circumstances,” adaptation of multiple currency practices237-2310
Charges:
Accounting for charges from members with overdue obligations8433-(86/175)128
Accrued charges8433-(86/175)128
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)359
Borrowing agreements with Swiss National
Bank5288-(76/167)181
5306-(77/2)190
5387-(77/61)185
5488-(77/116)190
Enlarged access policy6783-(81/40)50
Extended Fund facility*4377-(74/114)36
4720-(75/114)39
*6838-(81/70)66, 71
Future changes4239-(74/67)127
Interest on Trust Fund loans; see Interest
Media of payment*5702-(78/39) G/S127
Oil facility Subsidy Account; see Accounts, Subsidy Accounts
Overdue obligations to Fund, special charges8165-(85/189) G/TR129–30
Overdue obligations to Fund, accrued income8433-(86/175)128
Payment by nonparticipant in Special Drawing Rights Department*5702-(78/39) G/S127
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)128
Rate, determination of, burden sharing*8348-(86/122)132–33
8515-(87/23)138
Setoff in connection with retroactive reduction8271-(86/74)131
Special charges on overdue obligations to Fund8165-(85/189) G/TR129–30
Setoff against charges due for second quarter of FY 19878442-(86/178)131
Stand-by arrangements*6838-(81/70)66
Supplementary financing facility5508-(77/127)44
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)33
Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)315
Commodities (see also Buffer stock financing facility; Compensatory financing …):
Reclassification where subject to multiple currency practices237-2308, 310
Communications, privilege for534-3318
Compensatory financing of export fluctuations6224-(79/135)83
Access limit6224-(79/135)84
Cooperation, guidelines on7528-(83/140)88
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”2836-(69/87)355
Guidelines on cooperation; see Cooperation, guidelines on
Integration of assistance with that available under decision on compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)89
Repurchases*5703-(78/39)122–24
Representation of intention to repurchase amount of overcompensation6224-(79/135)85
Legal interpretationEBM/82/186–87
Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)89
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”*6860-(81/81)92
Repurchases*5703-(78/39)122
*6860-(81/81)93
Conditionality; see Use of Fund’s resources, Conditionality
“Consistent with the provisions of this Agreement,” meaning in Article V, Section 3287-324
Consultation with members:
Before accepting obligations of Article VIII, Sections 2, 3, and 41034-(60/27)299
Bilateral arrangements433-(55/42)293–94
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)29
6790-(81/43)314
Discussions on use of Fund’s resources102-(52/11)25
During period of extended arrangement*6838-(81/70)72
During period of stand-by arrangement*6838-(81/70)67
Exchange measures needing approval under Article VIII1034-(60/27)299
Members’ policies in present circumstances4134-(74/4)302
Multiple currency practices237-2305
Periodic discussions under Article VIII1034-(60/27)299
Resumption of purchases under extended arrangements*6838-(81/70)70
Resumption of purchases under stand-by arrangements*270-(53/95)61
*6838-(81/70)65
Retention quotas201-(53/29)294
Special consultations5392-(77/63)13
Whether measure is exchange restriction1034-(60/27)298
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-(80/71) S329
Convertibility:
Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)299
Approval of exchange restrictions1034-(60/27)299
Bilateralism433-(55/42)293
Consultation with Fund1034-(60/27)299
Discrimination955-(59/45)297
Multiple currency practices; see Multiple currency practices
Retention quotas201-(53/29)294
Credit tranches; see Tranche policies
Credit worthiness, factor in determining use of Fund’s resources102-(52/11)25
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 right6631-(80/145) G/S324–25
Freely usable currencies5719-(78/46)360
Guidelines for use in operational budgets6772-(81/35) G/S110–11
Guidelines for use in operations and transactions of General Resources Account6273-(79/158) G/S104
6274-(79/158)105–107
6774-(81/35)112–114
Payment of subscriptions6266-(79/156)4–7
B/G Res. 31-2418
B/G Res. 34-2425
B/G Res. 38-1434
Rates for computations and maintenance of value5590-(77/163)139–40
Replenishment in connection with supplementary financing facility5509-(77/127)196
Sale by agreement with member with outstanding purchases6274-(79/158)105–106
6352-(79/183)108
6774-(81/35)113
Selection for payment of charges*5702-(78/39) G/S127
Specified by the Fund, use in repurchases*5703-(78/39)124
5809-(78/88)125
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)297
Drawings; see Purchase transactions; Use of Fund’s resources
E East African Development Bank, prescription as holder of special drawing rights7582-(83/174) S331n
Eastern Caribbean Central Bank, prescription as holder of special drawing rights7707-(84/79) S331n
Enemy-occupied, former, members, introduction of multiple currency practices237-2308, 309
Enhanced surveillanceChairman’s Summing up20–23
Procedures for transmittal of staff reports8222-(86/45)19
Chairman’s Summing up22
Enlarged access, policy on6783-(81/40)47
Access limits, guidelines*7600-(84/3)51–52
Chairman’s Summing up of Dec. 2, 198353–56
Apportionment between ordinary and borrowed resources8487-(86/205)52–53
Borrowed Resources Suspense Accounts; see Accounts
Borrowing agreement with Bank for International Settlements*6863-(81/81)253
7677-(84/64)265
7955-(85/60)277
Borrowing agreement with Japan7677-(84/64)265
7955-(85/60)277, 279
8486-(86/205)280–85
Borrowing agreement with National Bank of Belgium7677-(84/64)265, 273
7955-(85/60)277, 280
Borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)207
Amendment8460-(86/189)251
Change in conversion arrangements7188-(82/114)236
Supplementary agreement7677-(84/64)237
Extension of commitment period8460-(86/189)251–52
Borrowing from central banks and other official institutions6864-(81/81)256
Charges6783-(81/40)50
Exclusion of purchases with borrowed resources and holdings under Article XXX (c)6783-(81/40)50
Forms of stand-by and extended arrangements*6838-(81/70)62–72
Mix of ordinary and borrowed resources; see Apportionment between ordinary and borrowed resources, above.
Period*7599-(84/3)50–51
Repurchases; see Repurchases
Review*7599-(84/3)51
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/S351
European Monetary Cooperation Fund, consultation on calculation of representative rate for European Currency Unit7041-(82/8)G/S351
“Exceptional circumstances,” meaning in Article XIV, Section 3 (Section 4 before Second Amendment)117-1323
237-2309
Exchange arrangements, notification5392-(77/63)13
5712-(78/41)8
Exchange contracts, unenforceability446-4290
Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4291
Exchange controls on capital transfers541-(56/39)156
Exchange rates:
Borrowing arrangements by Fund*1289-(62/1)164
Exchange rate policies of members, surveillance5392-(77/63)10
Flexible exchange arrangements5712-(78/41)8–9
Floating, guidelinesB/G Res. 29-10410
Fluctuating:
Multiple currency practices (fixed and fluctuating rates)237-2306
Scope of transactions to be agreed with Fund237-2307
Free markets237-2306
Multiple currency practices arising from official action6790-(81/43)312–13
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/S351
Unification in multiple rate systems a basic objective of Fund649-(57/33)311
Exchange restrictions (see also Payments restrictions):
Approval1034-(60/27)299
Avoidance of escalation4134.(74/4)302
4254-(74/75)315
Bilateralism433-05/42)293
Capital transactions; see Capital transfers
Consultations with Fund1034-(60/27)299
Discrimination955-(59/45)297
Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)298
Introduction1034-(60/27)299
Maintenance1034-(60/27)299
Multiple currency practices237-22303
649-(57/33)311
6790-(81/43)312
Payments arrears3153-(70/95)300
Retention quotas201-(53/29)294
Security reasons; see Payments restrictions
Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)299
Withdrawal, representation by Fund117-1323
Exchange systems, avoidance of use for nonbalance of payments reasons1034-(60/27)299
Exchange taxes237-2306
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)14–15
7646-(84/40)15
7939-(85/49)16
8249-(86/60)17
8563-(87/59)17
Annual review of upper-maturity limit in guidelines on performance criteria with respect to foreign borrowing6230-(79/140)31
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. 34-2420
8thB/GRes. 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)36
5220-(76/144)37
7558-(83/156)37
7857-(84/175)38
8192-(86/13)38
Review of functioning of international adjustment process5392-(77/63)12
Review of guidelines for borrowing by Fund7040-(82/7)288
Review of level of Fund’s SDR holdings6275-(79/158) G/S107
7626-(84/23) S111
7941-(85/50)S111
8265-(86/70) S112
8574-(87/64) S112
Review of prescriptions of holders of special drawing rights6467-(80/71) S329
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)597-4321
Appointment by members having five largest quotas2-1320
Determination of members entitled to appoint under Article XII, Section 3(c)*574-2320–21
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)359
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 changes180-5321
Export shortfalls, financing; see Compensatory financing of export fluctuations
Extended arrangements*4377-(74/114)33–37
Amendment to utilize supplementary financing7047-(82/13)73
7048-(82/13)75
Amounts to be made available under enlarged access policy decision, guidelines*7600-(84/3)51–52
Augmentation of rights to make purchases, elimination5706-(78/39)72
Charge*4377-(74/114)36
4720-(75/114)39
*6838-(81/70)71
Exclusion of purchases and holdings for purpose of definition of “reserve tranche purchase”6830-(81/65)358
Form under enlarged access policy*6838-(81/70)68
7048-(82/13)75
7908-(85/26)76
Ineligibility*6838-(81/70)70
Publicity upon declaration7931(85/41)322
7999-(85/90)322
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)78–80
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)76
EBM/84/5476–77
Performance criteria and phasing, operational guidelines7925-(85/38)81–83
Provision for enlarged access to Fund’s resources6783-(81/40)47
Provision for supplementary financing5508-(77/127)39–45
6693-(80/177)46
6725-(81/5)46
Repurchases; see Repurchases
Review of decision on extended Fund facility5220-(76/144)37
7558-(83/156)37–38
7857-(84/175)38
8192-(86/13)38–39
Suspension of right to engage in purchase transactions*6838-(81/70)70
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)30–32
F “First credit tranche,” Fund attitude to request for transactions26
Floating rates; see Exchange rates
Fluctuating exchange rates; see Exchange rates
Freely usable currencies5719-(78/46)360
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)300
4254-(74/75)316
B/GRes. 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)123–24
5809-(78/88)124–25
Sale, amounts available to Trust Fund5069-(76/72)361,362,348
Sale for benefit of developing members, distribution of profits through Trust Fund5069-(76/72)362
5709-(78/41)TR372–73
5832-(78/95)TR373
6540-(80/98) TR377
Sale, transfer of profits to Trust Fund5069-(76/72)363
Subscribed to Fund, ownership170-33
Gross reserve position; see Reverse position, gross
H Holdings of the Fund:
Adjustment by Fund5590-(77/163)139
Attribution of reductions to enlargement of member’s reserve tranche position6774-(81/35)115
*6831-(81/65)125
Attribution of reductions to repurchase obligations*6831-(81/65)125
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)359
Computations and adjustment, rates5590-(77/163)139
Exclusion of holdings resulting from credit tranche purchases6830-(81/65)358
Exclusion under buffer stock facility5591-(77/163)356
Exclusion under compensatory financing of export fluctuations2836-(69/87)355
Exclusion under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)355–56
Exclusion under enlarged access policy6783-(81/40)358
Exclusion under extended Fund facility6830-(81/65)358
Exclusion under oil facility5371-(77/51)357
Exclusion under supplementary financing facility5508-(77/127)357
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)300
Income, accrued; see Overdue obligations to Fund, purchases from Fund, Accrued charges and income
Income position, burden sharing*8348-(86/122)132
8515-(87/23)138
Income target for FY 1987 and FY 1988*8348-(86/122)132
Ineligibility; see Extended arrangements; Stand-by arrangements; Use of Fund’s resources
Interest:
Charge on loans from Trust Fund5069-(76/72)366
Payment on Fund indebtedness to Bank for International Settlements*6863-(81/81)254
Payment on Fund indebtedness to central banks and other official institutions6864-(81/81)257
Payment on Fund indebtedness to Saudi Arabian Monetary Agency6843-(81/75)211
Payment on Fund indebtedness to Swiss National Bank5288-(76/167)183
5331-(77/15)189
5387-(77/61)187
5488-(77/116)190
Payment on Fund indebtedness under General Arrangements to Borrow*1289-(62/1)161
Payment on Fund indebtedness under supplementary financing facility Subsidy Account6683-(80/185) G/TR381
Payment under supplementary financing facility5509-(77/127)
Annex200
6163-(79/96)205
Payments by members under Trust Fund loan agreements6358-(79/188)375
5069-(76/72)366
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)S331n
International Development Association, prescription as holder of special drawing rights6718-(81/1) S331n
International Fund for Agricultural Development, prescription as holder of special drawing rights6489-(80/77) S331n
International monetary system, reformB/G Comp. Res.339
International Natural Rubber, Sugar, and Tin Agreements; see Buffer stock financing facility
Interpretation of Articles of Agreement24, 290, 318, 320, 354
Investment:
Currencies held in oil facility Subsidy Account*4773-(75/136)391
Currencies held in supplementary financing facility Subsidy Account6683-(80/185) G/TR381, 384
6854-(81/78) SBS386
Currency balances held in Trust Fund5069-(76/72)368
5972-(78/189)371
5973-(78/189) TR371–72
Islamic Development Bank, prescription as holder of special drawing rights7086-(82/42) S331n
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 procedure414–15
Secretariat function, changes in organization of work and structure415
M Managing Director:
Authority to establish Borrowed Resources Suspense Accounts, and to transfer and invest balances of borrowed currencies6844-(81/75)285
6845-(81/75)286
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)204
Authorizations in connection with implementation of borrowing agreement with Saudi Arabian Monetary Agency6843-(81/75)207
Consultation by eligible member to request assistance from Trust Fund5069-(76/72)364
Consultation by member before making request under supplementary financing facility5508-(77/127)40
Consultation by member contemplating request under extended Fund facility*4377-(74/114)34
Consultation by member to request use of Fund resources under policy on enlarged access6783-(81/40)47
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)205
Deposit of currencies received by supplementary financing facility Subsidy Account with Bank for International Settlements*6854-(81/78) SBS386
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. 29-9406
Participation in meetings of Interim CommitteeB/G Res. 29-8401–402
Placement of Trust Fund investments in SDR-denominated deposits5973-(78/189) TR372
Proposals for allocation of SDRs:
First basic periodB/G Res. 24-12440
Third basic periodB/G Res. 34-3442
Fourth basic period452
Proposals for calls under General Arrangements to Borrow*1289-(62/1)159, 168
1712-(64/29)179
Proposals for Trust Fund investments5973-(78/189) TR372
Recommendations to Executive Board regarding approval of use of Fund resources and stand-by arrangements6056-(79/38)28
Report to Board of Governors and to Executive Board on allocation of SDRs for fourth basic period452
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 resources71-224
B/G Res. IM-6397
Multiple currency practices:
Policy237-2303
649-(57/33)311
6790-(81/43)312
Prior Fund approval5712-(78/41)9
Spreads6790-(81/43)313
N “Net creditor position in the Fund”6008-(79/3)205
Noncomplying purchases; see Extended or Stand-by arrangements, Misreporting and noncomplying purchases
Nordic Investment Bank, prescription as holder of special drawing rights6488-(80/77) S331n
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)357
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)76
*6838-(81/70)65, 70
Accrued charges and income8433-(86/175)128
Accounting for overdue charges8433-(86/175)128
Burden sharing*8348-(86/122)132
Complaint, period of considerationChairman’s Summing up77–78
Deferred income8433-(86/175)128
8515-(87/23)138
Publicity upon declaration of ineligibility7999-(85/90)322
Reporting by Fund7931-(85/41)322
Setoff in connection with retroactive reduction of charges due by members in arrears8271-(86/74)131
Special charges on*8165-(85/189) G/TR129
Setoff against charges due for second quarter of FY 19878442-(86/178)131
Overdue payments to Fund; see Overdue obligations to Fund
P Payments arrears3153-(70/95)300
Payments policies of members4134-(74/4)302
Payments restrictions (see also Exchange restrictions; Payments arrears):
For security reasons, Fund jurisdiction144-(52/51)292
Withdrawal or general abandonment117-1323
“Position in the Fund,” definition6274-(79/158)106
6772-(81/35) G/S111
Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)292
Publication of reports, overdue obligations7931-(85/41)322
Publicity on declaration of ineligibility7999-(85/90)322
Purchase transactions (see also Use of Fund’s resources):
Augmentation of rights to purchase under stand-by and extended arrangements, elimination5706-(78/39)72
Purchase under buffer stock financing facility*2772-(69/47)95
3179-(70/102)96
5127-(76/91)97
5591-(77/163)356
5597-(77/171)99–102
7246-(82/147)102
7247-(82/147)98–99
Purchases under compensatory financing of export fluctuations2836-(69/87)355
6224-(79/135)84–86
Purchases under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)89–94
Purchases under credit tranche; see Tranche policies
Purchases under extended arrangements5508-(77/127)41
6783-(81/40)47–48
6830-(81/65)73
*6838-(81/70)68–72
7048-(82/13)75
Purchases under policy on enlarged access6783-(81/40)47–48
Purchases under stand-by arrangements5508-(77/127)40–41
6783-(81/40)48
*6838-(81/70)62–67
7048-(82/13)75
Purchases under supplementary financing facility5508-(77/127)40–42
Resumption of purchases under extended arrangement after decision of formal ineligibility or to consider such a proposal*6838-(81/70)70–71
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)61
*6838-(81/70)66
Suspension, effect on General Arrangements to Borrow*1289-(62/1)165
Suspension of transactions under extended arrangements*6838-(81/70)70–71
Suspension of transactions under stand-by arrangements*270-(53/95)61
*6838-(81/70)66
Q Quotas:
Adjustment, first interval of five years408-23
Calculation, review of methodB/GRes. 38-1432
Change, effect on voting power of elected Executive Director180-5321
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) S117
8th GeneralB/G Res. 38-1431
Special adjustment for members with very small quotasB/G Res. 38-1433
R Rates for official communications of Fund534-3318
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)359
Remuneration, rate, burden sharing*8348-(86/122)133
8515-(87/23)138
Repayment by Fund of borrowed currency*1289-(62/1)162–64
1712-(64/29)179
5288-(76/167)184
5387-(77/61)188
5509-(77/127)201
6843-(81/75)211, 213
6864-(81/81)258
Replenishment; see Article VII, replenishment of Fund’s holdings of currencies; Borrowing by the Fund
Reporting by the Fund of overdue obligations7931-(85/41)322
Repurchases:
Attribution of reductions in Fund’s holdings of currencies6774-(81/35)115
*6831-(81/65)125
Currency resulting from purchase under credit tranches*5703-(78/39)122–24
Currency resulting from purchase under extended arrangement*6838-(81/70)71
Currency resulting from purchase under stand-by arrangement*6838-(81/70)66
Early, guidelines5704-(78/39)118
6172-(79/101)120
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)123
5809-(78/88)124–25
Of Fund’s holdings102-(52/11)26
Procedures*5703-(78/39)123
Under buffer stock financing facility*5703-(78/39)122
6th International Tin Agreement7247-(82/147)98
1977 International Sugar Agreement5597-(77/171)101
International Natural Rubber Agreement, 19797246-(82/147)102
Under compensatory financing of export fluctuations*5703-(78/39)122
Representation of intention to repurchase amount of overcompensation6224-(79/135)85
Under compensatory financing of fluctuations in the cost of cereal imports*5703-(78/39)122–23
*6860-(81/81)93
Under decision on enlarged access6783-(81/40)49
Under extended Fund facility*4377-(74/114)36
Under supplementary financing facility5508-(77/127)43–44
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. 38-1434, 436
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)115
*6831-(81/65)125
Review7704-(84/78)126
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)359
Reserve tranche purchases (see also Use of Fund’s resources):
Exclusion of purchases and holdings in credit tranches6830-(81/65)358
Exclusion of purchases and holdings under buffer stock financing facility5591-(77/163)356
Exclusion of purchases and holdings under compensatory financing of export fluctuations2836-(69/87)355
Exclusion of purchases and holdings under compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)355–56
Exclusion of purchases and holdings under extended facility6830-(81/65)358
Exclusion of purchases and holdings under oil facility5371-(77/51)357
Exclusion of purchases and holdings under policy on enlarged access6783-(81/40)358
Exclusion of purchases and holdings under supplementary financing facility5508-(77/127)357
Restrictions; see Exchange restrictions; Payments restrictions
Retention quotas201-(53/29)294
Rule G-1*1289-(62/1)165
Rule I-10:
Rate of remuneration*8348-(86/122)133
Rule O-2:
Determination of exchange rate*1289-(62/1)164
5288-(76/167)182
5387-(77/61)186
5590-(77/163)139
6001-(79/1) S335–36
6053-(79/34) S337
6054-(79/34) S339
6336-(79/178) S341
7041-(82/8) G/S351
Valuation of U.S. dollar in terms of special drawing rights6709-(80/189) S326–27
Rule P-7:
Declaration concerning use of special drawing rights in accordance with prescription on donations6437-(80/37) S344
Declaration concerning use of special drawing rights in accordance with prescription on donations6337-(79/178) S343
Declaration concerning use of special drawing rights in accordance with prescription on pledges6001-(79/1) S337
Declaration concerning use of special drawing rights in accordance with prescription on pledges*6053-(79/34) S338
Declaration concerning use of special drawing rights in accordance with prescription on settlement of financial obligations*6000-(79/1) S334
Declaration concerning use of special drawing rights in accordance with prescription on swap operations6336-(79/178) S342
Declaration concerning use of special drawing rights in accordance with prescription on transfers as security for performance of financial operations*6054-(79/34) S340
Rule P-9, record of operations in special drawing rights*6000-(79/1) S335
6001-(79/1) S337
*6053-(79/34) S339
*6054-(79/34) S341
6336-(79/178) S342
6337-(79/178) S343
6437-(80/37) S344
8186-(86/9) SBS/S344
8239-(86/56)SAF345
Rule R-1 through R-6, rules for reconstitution, abrogation6832-(81/65) S350
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)207
Amendment8460-(86/189)251
Change in conversion arrangements7188-(82/114)236
Supplementary agreement7677-(84/64)237
Extension of commitment period8460-(86/189)251–52
Transferability of claims7629-(84/25)175
Special Disbursement Account; see Accounts
Special drawing rights:
Allocation for first basic periodB/G Res. 24-12440
Allocation for third basic periodB/G Res. 34-3442
New participants5956-(78/180) S333
6368-(79/191) S333
Allocation for fourth basic period, Managing Director’s report to Board of Governors and to Executive Board452
Change in method of valuation, effect on claims under supplementary financing facility5509-(77/127)
Annex202
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)S331n
Andean Reserve Fund6486-(80/77) S331
Arab Monetary Fund6609-(80/126) S33In
Asian Development Bank7229-(82/136) S33In
Bank for International Settlements6484-(80/77) S330–31
Bank of Central African States7064-(82/26) S33In
Central Bank of West African States6908-(81/101)S33In
East African Development Bank7582-(83/174) S33In
Eastern Caribbean Central Bank7707-(84/79) S33In
International Bank for Reconstruction and Development6718-(81/1) S33In
International Development Association6718-(81/1) S331n
International Fund for Agricultural Development6489-(80/77) S331n
Islamic Development Bank7086-(82/42) S33In
Nordic Investment Bank6488-(80/77) S33In
Swiss National Bank6485-(80/77) S332
Terms and conditions for accepting, holding, or using SDRs6467-(80/71) S328
Level of SDR holdings in General Resources Account, maintenance; see Accounts, General Resources Account
Loans for Trust Fund expressed in5069-(76/72)366
Method of collecting exchange rates for calculation of value of SDR for purpose of Rule O-2(a)6709-(80/189) S327
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) S117
Sale by Fund, guidelines6772-(81/35) G/S110
7626-(84/23) S111
7941-(85/50) S112
8265-(86/70) S112
8574-(87/64) S112
SDR-denominated deposits with Bank for International Settlements5973-(78/189) TR372
Transfers under Article V, Section 3(f)6275-(79/158) G/S107–108
Transfers under Article V, Section 6(b), guidelines for selection of currencies6274-(79/158)105
6774-(81/35)112
Use in donations6437-(80/37) S344
Use in donations and loans to supplementary financing facility Subsidy Account6683-(80/185) G/TR384
Use in forward operations6337-(79/178) S342–43
Use in loans6001-(79/1) S335
Use in operations under structural adjustment facility8239-(86/56)SAF345
Use in payment of charges*5702-(78/39) G/S127
Use in payment of 25 percent of quota increasesB/G Res. 31-2418
B/G Res. 34-2425
B/G Res. 38-1434
Use in payment of subsidy8186-(86/9) SBS/S344
Use in pledges*6053-(79/34) S337
Use in repayment of Fund’s debt to Swiss National Bank6485-(80/77) S332
Use in repurchases*5703-(78/39)123
5809-(78/88)124–25
Use in settlement of financial obligations*6000-(79/1) S334
Use in swap operations6336-(79/178) S341
Use in transfers as security for performance of financial obligations*6054-(79/34) S339
Valuation basket, guidelines for calculation of currency amount8160-(85/186) G/S326
Valuation for use in borrowing arrangements*1289-(62/1)164
5288-(76/167)182
5387-(77/61)186
6843-(81/75)212
Valuation, interimB/G Res. 29-10411–12
Valuation method6631-(80/145) G/S324
Valuation of U.S. dollar pursuant to Rule O-2(a), method6709-(80/189) S326–27
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)73
7048-(82/13)75
Amounts to be made available under enlarged access policy decision, guidelines6783-(81/40)48
*7600-(84/3)51
Augmentation of rights to make purchases, elimination5706-(78/39)72
Charges*6838-(81/70)66
Conditionality, guidelines6056-(79/38)27
Review8192-(86/13)38–39
Exclusion of purchases for purposes of definition of “reserve tranche purchase”6830-(81/65)73, 358
Foreign borrowing, performance criteria6230-(79/140)30
Form under enlarged access policy*6838-(81/70)62–67
7048-(82/13)75
Guidelines, operational; see Performance criteria and phasing, below
Ineligibility*270-(53/95)61
*6838-(81/70)66
Publicity upon declaration of7999-(85/90)322
7931-(85/41)322
Misreporting and noncomplying purchases, guidelines on corrective action7842-(84/165)78
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)76, 65
EBM/84/5476–77
Payments arrears, performance criteria3153-(70/95)301
Performance criteria and phasing, operational guidelines7925-(85/38)81
Period*270-(53/95)60–61
5508-(77/127)41
6783-(81/40)48
Policies and procedures*270-(53/95)61
Provision for enlarged access to Fund’s resources6783-(81/40)47–48
Provision for supplementary financing5508-(77/127)39
6693-(80/177)46
6725-(81/5)46
Relationship between performance criteria and phasing of purchases, operational guidelines7925-(85/38)81
Renewal*270-(53/95)60
Repurchases; see Repurchases, Currency resulting from purchase under stand-by arrangement
Suspension of right to engage in purchase transactions*270-(53/95)61
*6838-(81/70)65–66
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) SAF142
List of eligible members and amounts of assistance*8240-(86/56) SAF147–49
Regulations for administration*8238-(86/56) SAF142–47
Chairman’s Summing up149–54
Review of operation8241-(86/56) SAF149
Use of SDRs in operations8239-(86/56)SAF345
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. 38-1434, 436
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)204
Charges; see Charges
Establishment5508-(77/127)39
Extension of period6725-(81/5)46
No augmentation of rights to purchase5706-(78/39)72
Replenishment of Fund’s holdings of currencies5509-(77/127)196
Interest payments under borrowing agreements6163-(79/96)205
Meaning of “net creditor position in the Fund”6008-(79/3)205
Report on use6445-(80/43)45
Repurchases; see Repurchases
Review of decision on establishment6693-(80/177)46
6725-(81/5)46
Subsidy Account
Disbursement of additional subsidy amount for period ending June 30, 19868523-(87/25) SBS389–90
Effect on subsidy cost of substituting supplementary financing for enlarged access resources7047-(82/13)75
Instrument*6683-(80/185) G/TR379–86
Investment of currencies*6854-(81/78) SBS386–87
Means of payments8185-(86/9) SBS/S387
Subsidy payments, July 1, 1984—June 30, 19858037-(85/110) SBS388
Subsidy payments, July 1, 1985-June 30, 19868492-(87/1) SBS389
Suspension of transfers and retransfer of surplus to Special Disbursement Account7989-(85/81) SBS387
Transferability of claims; see Transferability of claims
Utilization of supplementary financing facility for enlarged access resources7047-(82/13)73
7048-(82/13)75–76
Surveillance over exchange rate policies*5392-(77/63)9–14
8248-(86/60)16
Enhanced surveillance; see Enhanced surveillance
Procedures, implementation of three-month period7427-(83/83)18–19
Review of procedures6026-(79/13)14–15
7646-(84/40)16
7939-(85/49)16–17
8249-(86/60)17
8563-(87/59)17
Swiss National Bank:
Borrowing agreements with Fund5288-(76/167)181
5387-(77/61)185
Transfer charges and interest, media of payment5306-(77/2)190
5331-(77/15)189–90
5488-(77/116)190
Use of special drawing rights to repay indebtedness6485-(80/77) S332
Participation in General Arrangements to Borrow*1289-(62/1)168
Prescription as holder of special drawing rights6485-(80/77) S332
Transferability of claims under General Arrangements to Borrow7628-(84/25)174
Switzerland:
Association with General Arrangements to Borrow1712-(64/29)177
T Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)312
Tin Agreements, International; see Buffer stock financing facility
Trade, Voluntary Declaration4254-(74/75)315
B/G Res. 29-10411
Tranche policies:
Application in connection with compensatory financing facility6224-(79/135)86
Application in connection with decision on enlarged access6783-(81/40)50
Application in connection with supplementary financing facility5508-(77/127)44
Exclusion of credit tranche purchases for purpose of definition of “reserve tranche purchase”6830-(81/65)358
Fund attitude to request for transactions within “first credit tranche” and beyond26
Transferability of claims:
General Arrangements to Borrow*1289-(62/1)164
7628-(84/25)174–75
Saudi Arabia’s borrowing agreement7629-(84/25)175–77
Transitional provisions of Article XIV117-1323
1034-(60/27)298–300
Trust Fund:
Distribution of profits from sale of gold for benefit of developing countries5069-(76/72)362
5709-(78/41) TR372–73
5832-(78/95) TR373
6540-(80/98) TR377
Diversification of investments5972-(78/189)371
5973-(78/189) TR371–72
Eligible members, review of list5563-(77/150) TR370–71
Final payments of profits and loans for period July 1, 1976–June 30, 19785832-(78/95) TR373
Instrument5069-(76/72)362
Amendment5563-(77/150) TR370–71
5972-(78/189)371
6793-(81/45)379
Means of payment of interest6358-(79/188) TR375
Means of repayment by members on their indebtedness under loan agreements7142-(82/85) TR375
Overdue interest and special charges8165-(85/189) G/TR376
Repayment terms:
Final loan disbursement6793-(81/45)379
Second period:
Extension6466-(80/68) TR374
6676-(80/168) TR374–75
Extension of period for qualification6202-(79/121) TR374
Timing of loan disbursements6201-(79/121) TR373
Special charges on overdue interest8165-(85/189) G/TR376–77
Termination and transfer of resources to Special Disbursement Account6683-(80/185) G/TR381
6704-(80/185) TR378
U Unenforceability; see Exchange contracts
United Nations:
Agreement with International Monetary Fund457
Convention on the Privileges and Immunities of the Specialized Agencies464
Application to Fund481
List of members which have accepted with respect to Fund482–83
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 Role O-2(a)6709-(80/189) S326–27
Inclusion in operational budgets6772-(81/35) G/S111
Use for payment of interest and other Fund liabilities5288-(76/167)185
5306-(77/2)190
5331-(77/15)190
5387-(77/61)188
5488-(77/116)190
6358-(79/188) TR375
*6863-(81/81)255
Use for repayment by members on their indebtedness under Trust Fund loan agreements7142-(82/85) TR375
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) SBS388
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 request for immediate drawings*270-(53/95)61
Authority to use resources of Fund, interpretation of Articles of Agreement71-224
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)97
6th7247-(82/147)97
Capital transfers1238-(61/43)24
Compensatory financing of export fluctuations*6224-(79/135)83
Compensatory financing of fluctuations in the cost of cereal imports*6860-(81/81)89
Conditionality, guidelines6056-(79/38)27
Review8192-(86/13)38–39
“Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-324
Credit tranche policies; see Tranche policies
Enlarged access, policy on*6783-(81/40)47
Extended Fund facility*4377-(74/114)33
“First credit tranche”26
In accordance with purposes of Fund102-(52/11)25
Ineligibility:
Effect on purchases under extended arrangement*6838-(81/70)71
Effect on purchases under stand-by arrangement*270-(53/95)61
*6838-(81/70)66
Publicity upon declaration7999-(85/90)322
7931-(85/41)322
Under Article V, Section 5284-3116
Under Article XXVI, Section 2(a) (Article XV, Section 2(a) before Second Amendment)343.(54/47)354
Interpretation of Articles of Agreement24
Limit on access to Fund resources, guidelines*7600-(84/3)51–52
Limitation under Article V, Section 5284-3116
286-1116
Mix of ordinary and borrowed resources; see Enlarged access, policy on, Apportionment between ordinary and borrowed resources
Monetary stabilization71-224
Postponement, limitation under Article V, Section 5286-1116
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)71
Resumption of purchases under stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)61
*6838-(81/70)66
Stand-by and extended arrangements, forms under enlarged access policy*6838-(81/70)62–72
Suspension of exchange transactions, effect on General Arrangements to Borrow*1289-(62/1)165
Suspension of transactions under extended arrangements*6838-(81/70)70–71
Suspension of transactions under stand-by arrangements*270-(53/95)61
*6838-(81/70)66
Temporary assistance in financing balance of payments deficits71-224
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)95
6224-(79/135)86
*6860-(81/81)94
V Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)315
B/G Res. 29-10411
Voting power, elected Executive Directors, effect of change in quota180-5321
W Waiver of condition of Article V, Section 3(b)(iii)*4377-(74/114)35
5508-(77/127)44
6783-(81/40)50
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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