Back Matter

Back Matter

International Monetary Fund
Published Date:
January 1975
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    (* indicates Decision as amended)

    Decision No.Page
    AAccounting by members for transactions with the Fund170-34
    General Account:
    Accounts receivable or payable, establishment for adjustment of currency holdings3637-(72/41) G/S33
    General Reserve, establishment from net income753-(58/17)143
    Special account, gold collateral transactions1543-(63/39)78
    Transactions to obtain special drawing rights to pay charges or assessments3010-(70/25) G/S159
    Transfer of SDRs to participants making purchases from Fund3414-(71/98) G/S158
    Use of special drawing rights to settle all charges2901-(69/122)G/S157
    3188-(70/106) G/S157
    Special Drawing Account (see also Exchange rates, Representative rates; Special drawing rights):
    Participant designated under Article XXV, Section 5, sale of gold to Fund2916-(69/127)82
    Payment of interest, charges, and assessments3010-(70/25) G/S159
    Review of rules for reconstitutionB/G Res. 28-2169
    Articles of Agreement:
    B/G Res. 29-8181
    B/G Res. 29-10192
    Article I, purposes of the Fund287-336
    Article III, Section 2, adjustment of quotas408-23
    Article III, Section 3, subscription payments298-34, 6, 7, 147
    Article III, Sections 3 and 4, changes in quotas595-38
    Article IV, Section 1, gold value298-36
    Article IV, Section 2, price of gold75-(705)11
    Article IV, Section 3, margins269-213
    3637-(72/41) G/S32
    Article IV, Section 4(a), exchange stability233-29
    margins3463-(71/126)14, 17
    4083-(73/104)18, 21
    members’ policies4134-(74/4)125
    multiple currency practices237-2132
    Article IV, Section 4(b), purchase and sale of gold411-131
    Article IV, Section 5, changes in par values71-231
    Article IV, Section 8, maintenance of gold value of Fund assets3637-(72/41) G/S33
    Article V, Section 1, borrowing arrangements1289-(62/1)99
    Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning287-336
    gold tranche purchases3386-(71/83)70
    meaning of Section 3(a) (i)284-435
    meaning of Section 3(a) (iii)451-(55/52)36
    stand-by arrangements155-(52/57)42
    use of Fund’s resources102-(52/11)37
    waivers under4241-(74/67)72
    Article V, Section 3(d), gold tranche purchases2836-(69/87)69
    Article V, Section 4, gold collateral transactions1543-(63/39)77
    stand-by arrangements155-(52/57)42
    waivers under1543-(63/39)77
    Article V, Section 5, limitation on use284-354
    “is using,” meaning292-355
    Article V, Section 6, repurchase obligation119-(52/30)87
    sales of gold to Fund2916-(69/127)82
    voluntary repurchase7-(648)86
    Article V, Section 7, repurchase obligations124-283
    Article V, Section 7 (b), borrowing arrangements1289-(62/1)97
    computations3637-(72/41) G/S32
    gold payments of less than one bar4087-(73/105)87
    repurchase obligations447-583
    3032-(70/38) G/S156
    3320-(71/34) G/S156
    Article V, Section 7 (c), repurchase obligations419-184
    Article V, Section 8(a), (c), and (e), borrowing arrangements1289-(62/1)95
    Article V, Section 8(c), (d), and (e), charges4239-(74/67)88
    Article V, Section 8(d), consultation to reduce Fund’s holdings102-(52/11)39
    Article V, Section 8(f), rates for computations3637-(72/41) G/S32
    stand-by arrangements155-(52/57)42
    Article VI, Section 1, use of Fund’s resources71-235
    Article VI, Section 3, controls on capital transfers541-(56/39)90
    Article VII, Section 2, borrowing1289-(62/1)91
    Article VII, Section 3(b), security restrictions144-(52/51)114
    Article VIII, retention quotas201-(53/29)118
    Article VIII and Article XIV1034-(60/27)120
    Article VIII, Section 2(a), security restrictions144-(52/51)114
    payments restrictions3153-(70/95)123
    Article VIII, Section 2(b), unenforceability of exchange contracts446-4112
    Article VIII, Section 3, discrimination955-(59/45)119
    multiple currency practices237-2130
    Article IX, Section 7, privilege for communications534-3139
    Article XII, Sections 3(b)(i) and 3(f)2-1141
    Article XII, Section 3(c), “the preceding two years,” meaning597-4142
    additional appointed Executive Directors*574-2141
    Article XII, Section 5, voting power of Executive Directors180-5142
    Article XII, Section 6, establishment of a General Reserve from net income753-(58/17)143
    Article XII, Section 82603-(68/132)48
    Article XIV, retention quotas201-(53/29)117
    Articles VIII and XIV1034-(60/27)120
    Article XIV, Section 2, multiple currency practices237-2131
    security restrictions144-(52/51)114
    payments restrictions3153-(70/95)123
    transitional arrangements446-4113
    Article XIV, Section 31034-(60/27)121
    Article XIV, Section 4237-2132
    Article XV, Section 2343-(54/47)145
    Article XV, Section 3, borrowing arrangements1289-(62/1)100
    Article XVI, Section 1, stand-by arrangements155-(52/57)42
    borrowing arrangements1289-(62/1)100
    Article XVIII (a), list of interpretations underxvi
    Article XIX(b), (c), and (h), net official holdings.298-3147
    Article XIX(d)298-3 5,150
    Article XIX(g), currencies deemed convertible4279-(74/83)151
    Article XIX(j)2836-(69/87)70
    Article XX, Section 2(g)298-3150
    Article XX, Section 4298-35, 7
    Article XX. Section 4(i)284-2152
    Article XXV, Section 2, special drawing rights obtained by participant3414-(71/98) G/S158
    *3457-(71/121) G/S153
    Article XXV, Section 5, sale of gold to Fund by participant designated2916-(69/127)82
    Article XXV, Sections 6(a) and 7(f)*3457-(71/121) G/S153
    Article XXV, Section 6(b), review of rules for reconstitutionB/G Res. 28-2169
    Article XXVI, Section 5, payment of interest, charges, and assessments3010-(70/25) G/S159
    Schedule B486-2160
    3032-(70/38) G/S156
    3320-(71/34) G/S156
    3637-(72/41) G/S33
    Schedule D1289-(62/1)100
    Schedule E1289-(62/1)100
    Schedule G*3457-(71/121) G/S153
    B/G Res. 28-2169
    Auction system (see also Multiple currency practices)237-2129
    BBalance of payments position:
    Currency composition of drawings and repurchases1371-(62/36)58
    Discrimination for balance of payments reasons955-(59/45)119
    Bank for International Settlements:
    Fund assistance in gold transactions316-(54/27)163
    Prescription as holder of special drawing rights.B/G Res. 29-1173
    Borrowing by the Fund:
    General Arrangements to Borrow1289-(62/1)91
    In connection with oil facility4242-(74/67)107
    Buffer stocks, international, financing2772-(69/47)66
    Fourth International Tin Agreement3179-(70/102)67
    Gold tranche purchases3386-(71/83)70
    CCapital transfers:
    Controls by members541-(56/39)90
    B/G Res. 29-10190
    Use of Fund’s resources for1238-(61/43)35
    Central banks, conversion of currency1371-(62/36)60
    “Central holdings,” meaning298-3147
    Central rates3463-(71/126)14
    “Changing circumstances,” adaptation of multiple currency practices237-2132
    Extended Fund facility4377-(74/114)53
    Future changes4239-(74/67)88
    General Arrangements to Borrow1289-(62/1)95
    Gold sales to Fund for payment of repurchase obligations119-(52/30)87
    Gold tranche purchases, no service charge after July 27, 19692836-(69/87)70
    Gold transactions of members103-(52/12)163
    Level for reduction of Fund’s holdings pursuant to Article V, Section 8(d)102-(52/11)39
    Oil facility4241-(74/67)74
    Payment in special drawing rights2901-(69/122) G/S157
    3010-(70/25) G/S159
    3188-(70/106) G/S157
    Stand-by arrangements155-(52/57)42
    Coins, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3 (see also Margins)269-213
    Committee on Reform of the International Monetary System and Related IssuesB/G Comp. Res.178
    Final report and terminationB/G Res. 29-7179
    Guidelines for floating rates, application4232-(74/67)24
    Support of extended Fund facility4377-(74/114)50
    Voluntary Declaration on Trade and Other Current Account Measures4254-(74/75)136
    Commodities (see also Compensatory financing…):Buffer stock financing2772-(69/47)66
    Prices, effect on export earnings*1477-(63/8)62
    Reclassification where subject to multiple currency practices237-2131, 132
    Communications, privilege for534-3139
    Compensatory financing of export fluctuations*1477-(63/8)61
    Gold tranche purchases2836-(69/87)70
    “Consistent with the provisions of this Agreement,” meaning in Article V, Section 3287-336
    Consultations with members:
    Bilateral arrangements433-(55/42)116
    Commodity field, attention to policies2772-(69/47)67
    Currencies to be drawn and to be used in repurchases1371-(62/36)56, 57
    Exchange measures needing approval under Article VIII1034-(60/27)121
    External transactions in gold75-(705)11
    Floating exchange rates4232-(74/67)22
    Gold production subsidies233-29
    Members’ policies in present circumstances4134-(74/4)125
    Multiple currency practices237-2132
    Periodic discussions under Article VIII1034-(60/27)122
    Purchases under oil facility4241-(74/67)73
    Reduction in Fund’s holdings102-(52/11)39
    Retention quotas201-(53/29)117
    Stand-by arrangements:
    Clauses included2603-(68/132)47
    Resumption of purchases*270-(53/95)44
    Whether measure is exchange restriction1034-(60/27)121
    Acceptance of obligations of Article VIII, Sections 2, 3, and 41034-(60/27)121
    Approval of exchange restrictions1034-(60/27)121
    Balances of Article XIV currencies deemed convertible under Article XIX (g):
    Indonesian rupiah4291-(74/88)151
    Spanish peseta4279-(74/83)151
    Venezuelan bolívar4392-(74/120)151
    Bilateralism Consultation with Fund433-(55/42) 1034-(60/27)115 121
    Convertible currency margins904-(59/32)13
    Credit arrangements; see Borrowing by the Fund
    Currencies to be drawn and to be used in repurchases1371-(62/36)55
    3414-(71/98) G/S158
    Multiple currency practices; see Multiple currency practices
    Restrictions for security reasons144-(52/51)114
    Retention quotas201-(53/29)117
    Creditworthiness, factor in determining use of Fund’s resources102-(52/11)38
    Currencies (see also Convertibility):
    Adjustment of Fund’s holdings, rates for computations3637-(72/41) G/S32
    Convertible, use to obtain special drawing rights to pay charges or assessments3010-(70/25) G/S159
    Intervention3463-(71/126)15, 17
    4083-(73/104)18, 19, 21
    Subscribed to the Fund, ownership170-34
    To be drawn and to be used in repurchases1371-(62/36)55
    3414-(71/98) G/S158
    DDevelopment Committee; see Joint Ministerial Committee
    Discriminatory currency arrangements3463-(71/126)16
    Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions)955-(59/45)119
    Drawings; see Use of Fund’s resources
    EEnemy-occupied, former, members, introduction of multiple currency practices237-2130, 132
    Enemy-occupied territories, former, determination of net official holdings298-36
    “Exceptional circumstances,” meaning in Article XIV, Section 4117-1144
    237-2131, 132
    Exchange contracts, unenforceability446-4112
    Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement446-4113
    Exchange controls on capital transfers541-(56/39)90
    Exchange dealings based on parity269-213
    Exchange dealings under conditions of increasing convertibility904-(59/32)13
    Exchange markets: Conversion in; see Currencies, Conversion Intervention3463-(71/126)17
    4083-(73/104)20, 21
    4232-(74/67)24, 27
    Exchange rates (see also Margins; Par values):
    Borrowing arrangements by Fund1289-(62/1)98
    Central rates, temporary regime3463-(71/126)14
    Computations and adjustment of Fund’s holdings of currencies3637-(72/41) G/S32
    Effective rates4232-(74/67)27
    Floating, guidelines4232-(74/67)21
    B/G Res. 29-10190
    Multiple currency practices (fixed and fluctuating rates)237-2129
    Scope of transactions to be agreed with Fund237-2129
    Free markets237-2129
    Fund approval3504-(71/134)135
    Provisional, for payment of subscription in case of exchange transaction prior to establishment of initial par value1687-(64/22)81
    Representative rates under Rule 0-3, computations of members’ currency for which margins are not maintained3637-(72/41) G/S32
    Unification in multiple rate systems a basic objective of Fund649-(57/33)133
    Exchange restrictions:
    Avoidance of escalation4134-(74/4)125
    Capital transactions; see Capital transfers
    Consultations with Fund1034-(60/27)121
    Guiding principle of whether measure is a restriction on payments and transfers for current international transactions1034-(60/27)120
    Multiple currency practices237-2127
    Retention quotas201-(53/29)117
    Security reasons; see Payments restrictions
    Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 41034-(60/27)121
    Exchange stability:
    External transactions in gold at premium prices75-(705)10
    Fund statement of June 18, 194712
    Floating exchange rates4232-(74/67)22
    Gold subsidies233-29
    Multiple currency practices237-2128
    Exchange systems, avoidance of use for nonbalance of payments reasons1034-(60/27)121
    Exchange taxes237-2129, 133
    Exchange transactions (for purchases of exchange from the Fund, see Use of Fund’s resources):
    Fluctuating rates of exchange237-2129
    “Other,” dealings in paper money and coins269-213
    Prior to establishment of initial par value1687-(64/22)81
    Executive Directors:
    Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c)597-4142
    Appointment by members having 5 largest quotas2-1141
    Consultations on currency composition of drawings and repurchases1371-(62/36)57
    Determination of members entitled to appointunder Article XII, Section 3(c)*574-2141
    Participation in meetings of Development CommitteeB/G Res. 29-9185
    Participation in meetings of Interim Committee.B/G Res. 29-8180
    Prompt notification of request for purchase under stand-by arrangement3006-(70/24)49
    Review of oil facility4241-(74/67)74
    To receive reports on operation of buffer stock and developments under Fourth International Tin Agreement3179-(70/102)68
    Voting power, effect of quota changes180-5142
    Export shortfalls, financing; see Compensatory financing of export fluctuations
    Exports, adjustment for variability, oil facility4241-(74/67)72, 75
    Extended Fund facility4377-(74/114)50
    FFinancial year, application to repurchase obligations419-184
    Floating rates; see Exchange rates
    Fluctuating rates of exchange; see Exchange rates
    Free markets; see Exchange rates
    Full employment, maintenance; see Fundamental disequilibrium
    Fund resources, use; see Use of Fund’s resources
    Fundamental disequilibrium:
    Change in par value71-230
    Correction by change in par value278-332
    Full employment71-230
    Measures necessary to correct, interpretation of Articles of Agreement71-230
    GGeneral Account; see Accounts
    General Agreement on Tariffs and Trade1034-(60/27)122
    B/G Res. 29-10190
    General Arrangements to Borrow; see Borrowing by the Fund
    General Reserve; see Accounts, General Account
    Gold (see also Subscriptions):
    Consultations re external transactions in75-(705)11
    Handling charge, sale to Fund by participant designated under Article XXV, Section 52916-(69/127)82
    Looted, claim by members not a “holding”298-36
    Net official holdings of members298-34, 147
    Payment of stand-by charges155-(52/57)42
    Payments of less than one bar4087-(73/105)87
    Pledge agreement for gold collateral transactions1543-(63/39)76
    Premium prices, transactions at75-(705)10
    Fund statement of June 18, 194711
    Purchase or sale for settlement of international transactions411-131
    Sale to Fund by participant designated under Article XXV, Section 52916-(69/127)82
    Sale to Fund in discharge of repurchase obligation—Rule G-7119-(52/30)87
    Study of arrangements in light of agreed objectives of international monetary reformB/G Res. 29-10191
    Subscribed to Fund, ownership170-34
    Subsidies for production, members’ obligation to consult Fund233-29
    Transactions at premium prices; see Premium prices, above
    Transactions of members, Fund assistance103-(52/12)163
    Gold tranche transactions (see also Use of Fund’s resources):
    Buffer stock financing facility3386-(71/83)70
    Charges under stand-by arrangements155-(52/57)42
    Compensatory financing of export fluctuations2836-(69/87)70
    Members given overwhelming benefit of doubt102-(52/11)40
    Prior to establishment of initial par value1687-(64/22)81
    Procedure for drawings2836-(69/87)69
    Service charge, elimination2836-(69/87)70
    H“Holding” of gold or United States dollars, meaning298-35
    Holdings of the Fund; see Currencies; Repurchases
    IImport restrictions imposed for balance of payments reasons, GATT members1034-(60/27)122
    Income, net, of the Fund, establishment of General Reserve from753-(58/17)143
    Ineligibility; see Stand-by arrangements; Use of Fund’s resources; Withdrawal from membership
    Payment on Fund indebtedness under General Arrangements to Borrow1289-(62/1)95
    Payment on Fund indebtedness under oil facility4242-(74/76)109
    Special drawing rights3010-(70/25) G/S159
    Interim Committee of the Board of Governors on the International Monetary System, establishmentB/G Res. 29-8179
    International Monetary Fund:
    Agreement with United Nations197
    UN Convention on Privileges and Immunities, application to Fund222
    members which have accepted with respect to Fund223
    International monetary systemB/G Comp. Res.178
    International Tin Agreement, Fourth, Fund’s buffer stock financing facility3179-(70/102)67
    Intervention; see Currencies; Exchange markets “Is using,” meaning in Article V, Section 5292-355
    JJoint Ministerial Committee of the Boards of Governors of the Bank and Fund on the Transfer of Real Resources to Developing Countries, establishmentB/G Res. 29-9183
    MManaging Director:
    Consultation on currencies and amounts to be used in acquiring special drawing rights3010-(70/25) G/S159
    Consultation with member contemplating request under extended Fund facility4377-(74/114)51
    Consultations with on currencies to be drawn and used in repurchases1371-(62/36)56,57
    Initiation of procedure for calls under General Arrangements to Borrow1289-(62/1)94
    Participation in meetings of Development CommitteeB/G Res. 29-9185
    Participation in meetings of Interim Committee.B/G Res. 29-8181
    Margins (see also Exchange rates):
    Exchange rates for spot exchange transactions in a convertible currency904-(59/32)13
    Maintenance against intervention currency3463-(71/126)17
    “Other exchange transactions” (paper money and coins)269-213
    Price of gold75-(705)10
    Rates differing from parity by more than 1 per cent constitute multiple currency practices237-2133
    Rates not maintained within margins of Article IV, Section 33637-(72/41) G/S32
    Spot exchange transactions904-(59/32)13
    Wider, temporary regime3463-(71/126)14
    Monetary reserves of members:
    Exclusion of special drawing rights2901-(69/122) G/S155
    3032-(70/38) G/S156
    3320-(71/34) G/S156
    Data, means to speed collection and reporting102-(52/11)40
    Effect of payment of gold subscriptions124-283
    Importance of gold holdings75-(705)11
    Use in repurchases under Article V, Section 7(b)447-583
    Monetary stabilization operations, use of Fund’s resources71-235
    Money; see Paper money
    Multiple currency practices (see also Exchange rates; Exchange restrictions):
    Auction system
    Fixed rates237-2126
    Fluctuating rates649-(57/33)133
    Fund approval3504-(71/134)135
    Margin for spot exchange transactions904-(59/32)13
    Rates differing from parity by more than 1 per cent237-2133
    Temporary regime of central rates and wider margins3463-(71/126)16
    NNet official holdings of members, principles of interpretation298-34, 147
    O“Official holdings of a member,” meaning298-3147
    Oil facility4241-(74/67)71
    “Other official institutions” and “other banks,” meaning298-3148
    PPaper money, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3269-213
    Par values (see also Central rates; Margins): Change to correct a fundamental disequilibrium71-230
    Exchange transactions prior to establishment of initial par value1687-(64/22)81
    Extent of change278-332
    Fund’s authority278-331
    Payments arrears3153-(70/95)123
    Payments policies of members4134-(74/4)125
    Payments restrictions (see also Exchange restrictions; Payments arrears):
    For security reasons, Fund jurisdiction144-(52/51)114
    Withdrawal or general abandonment117-1144
    Petroleum; see Oil facility
    “Presently needed,” meaning in Article V, Section 3(a)(i)284-436
    Prior agreement of Fund; see Repurchases
    Prior notice to Fund, imposition of payments restrictions for security reasons144-(52/51)114
    Purchase transactions; see Use of Fund’s resources
    Adjustment, first interval of five years408-23
    Effect on voting power of elected Executive Director180-5142
    Increases granted in accordance with compensatory financing decision*1477-(63/8)62
    Relation to drawing rights451-(55/52)37
    Review, first408-23
    Review, sixth generalB/G Res. 29-10192
    RRates for official communications of Fund534-3139
    Rates of exchange; see Exchange rates; Multiple currency practices
    Reconstitution of special drawing rights, procedures*3457-(71/121) G/S153
    B/G Res. 28-2169
    Refund; see Stand-by arrangements, charges
    Repayment by Fund of borrowed currency1289-(62/1)96
    Representative rates; see Exchange rates
    “Represents,” meaning in Article V, Section 3(a)(i)284-435
    Repurchase obligations:
    Application at end of financial year in which calculated419-184
    Calculation, exclusion of proceeds of loans set aside for repayment of loan in a subsequent year510-2161
    Effect of payment of subscriptions124-283
    Exceeding limit specified in Article V, Section 7(c)3049-(70/44)84
    Gold payments less than one bar4087-(73/105)87
    Relation to Rule G-7119-(52/30)87
    Repayment within period of 3 to 5 years102-(52/11)39
    Use of monetary reserves for repurchases under Article V, Section 7(b)447-583
    Augmentation of stand-by arrangement by equivalent amount876-(59/15)46
    Buffer stock financing2772-(69/47)67
    Currency borrowed by Fund1289-(62/1)96
    Currency composition1371-(62/36)55
    Drawings under compensatory financing decision*1477-(63/8)64
    Exclusion of special drawing rights2901-(69/122) G/S155
    3032-(70/38) G/S156
    3320-(71/34) G/S156
    Extended Fund facility4377-(74/114)53
    Gold collateral transactions1543-(63/39)76
    Of Fund’s holdings102-(52/11)37
    Oil facility4241-(74/67)73
    Prior agreement of Fund needed1371-(62/36)56
    Sale of gold to Fund—Rule G-7119-(52/30)87
    Use of special drawing rights2901-(69/122) G/S157
    3188-(70/106) G/S157
    Reserve, General, of the Fund; see Accounts, General Account
    Reserve position of members, consideration in currency composition of drawings and repurchases1371-(62/36)58
    Restrictions; see Exchange restrictions; Payments restrictions
    Retention quotas201-(53/29)117
    Rule G-7, sale of gold to Fund in discharge of repurchase obligation119-(52/30)87
    Rule P-2, reconstitution, allocation of SDRs*3457-(71/121) G/S153
    SSchedules B, D, E, G; see Articles of Agreement
    Security, payments restrictions imposed for144-(52/51)114
    “Similar fiscal agency,” meaning298-3147
    Special Drawing Account; see Accounts
    Special drawing rights:
    Assumption with respect to allocations or cancellations*3457-(71/121) G/S153
    Exclusion in calculating monetary reserves2901-(69/122) G/S155
    3032-(70/38) G/S155
    3320-(71/34) G/S156
    Holder, Bank for International SettlementsB/G Res. 29-1173
    Interim valuationB/G Res. 29-10191
    Application to the General Account4257-(74/76)34
    Obtained in transaction through General Account to pay charges or assessments3010-(70/25) G/S159
    Obtained to promote reconstitution*3457-(71/121) G/S153
    Review of rules for reconstitutionB/G Res. 28-2169
    Transfer to participants making purchases from Fund3414-(71/98) G/S158
    Use in repurchases and payment of charges2901-(69/122) G/S157
    3188-(70/106) G/S157
    Spot exchange transactions904-(59/32)13
    Stabilization of prices of primary products2772-(69/47)66
    Fourth International Tin Agreement: buffer stock financing3179-(70/102)67
    Stand-by arrangements:
    Augmentation by amounts of repurchases876-(59/15)46
    Cancellation, repayment of portion of charge*270-(53/95)45
    Consultation, phasing and performance clauses.2603-(68/132)47
    Currency borrowed by the Fund1289-(62/1)94
    Currency composition of drawings1371-(62/36)56
    Extended Fund facility, relationship4377-(74/114)53
    Gold tranche drawings155-(52/57)42
    Payments arrears, performance criteria3153-(70/95)124
    Phasing and performance clauses2603-(68/132)48
    Policies and procedures155-(52/57)41
    Procedures for purchases under3006-(70/24)49
    Suspension of rights to engage in drawings155-(52/57)42
    Subscriptions (see also Net official holdings of members):
    Currency, payment on basis of provisional exchange rate for exchange transaction prior to establishment of initial par value1687-(64/22)81
    Calculation298-35, 149
    Effect of payment on repurchase obligations124-283
    Payments for quota increases595-38
    Gold and currency, ownership by Fund170-34
    Switzerland, party to gold transactions with Fund members316-(54/27)163
    TTechnical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification649-(57/33)134
    Tin Agreement, Fourth International; see Buffer stocks Trade, Voluntary Declaration4254-(74/75)136
    B/G Res. 29-10190
    Tranche policies (see also Gold tranche)41
    Transfers, restrictions on; see Exchange restrictions; Payments restrictions
    Transitional provisions of Article XIV1034-(60/27)121
    237-2128, 131
    UUnenforceability; see Exchange contracts
    United Nations:
    Agreement with International Monetary Fund197
    Convention on the Privileges and Immunities of the Specialized Agencies204
    U. S. dollars:
    Adjustment of Fund’s holdings4257-(74/76)34
    Determination of net official holdings of members298-34, 147
    “United States dollars,” holdings of, interpretation298-35
    United States, purchase or sale of gold within meaning of Article IV, Section 4(b)411-131
    Use of Fund’s resources (see also Borrowing by the Fund; Charges; Stand-by arrangements):
    Application of same policy to stand-by arrangements as to requests for immediate drawings.155-(52/57)41
    Authority to use resources of Fund71-235
    Balance of payments deficit on current account.71-235
    Buffer stock facility as applied to Fourth International Tin Agreement3179-(70/102)673351-(71/51)68
    Buffer stock financing2772-(69/47)66
    Capital transfers1238-(61/43)35
    Conditions in Article V, Section 3(a) (i)284-435
    “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning287-336
    Currency borrowed by the Fund1289-(62/1)96
    Currency composition of drawings1371-(62/36)55
    Drawing policies in connection with compensatory financing of export fluctuations*1477-(63/8)62
    Drawing rights, meaning of 25 per cent of quota451-(55/52)36
    Exchange transactions prior to establishment of initial par value1687-(64/22)81
    Extended Fund facility4377-(74/114)50
    “First credit tranche”41
    Gold collateral transactions1543-(63/39)76
    “Gold tranche” drawings102-(52/11)40
    In accordance with purposes of Fund102-(52/11)37, 40
    Effect on purchases under stand-by arrangement155-(52/57)42
    Under Article V, Section 5284-354
    Under Article XV, Section 2(a)343-(54/47)145
    “Is using” in Article V, Section 5, meaning292-355
    Limitation under Article V, Section 5284-354
    Monetary stabilization71-235
    Oil facility4241-(74/67)71
    Period of use102-(52/11)39
    Limitation under Article V, Section 5286-154
    Under Article XX, Section 4(i)284-2152
    “Presently needed” in Article V, Section 3(a)(i), meaning284-436
    Prior to establishment of initial par value1687-(64/22)81
    Purchases under stand-by arrangements, procedure3006-(70/24)49
    “Represents” in Article V, Section 3(a) (i), meaning284-435
    Requests from members proposing appropriate and adequate exchange simplification and related economic programs to be given sympathetic consideration649-(57/33)134
    Resumption of purchases under a stand-by arrangement after decision of formal ineligibility or to consider such a proposal*270-(53/95)44
    Suspension of exchange transaction, effect on borrowing arrangements1289-(62/1)100
    Suspension of transactions under stand-by arrangements155-(52/57)42
    Temporary assistance in financing balance of payments deficits71-235
    Tranche policies41
    *1477-(63/8)62, 65
    Transfer of SDRs in General Account to participants3414-(71/98) G/S158
    Waiver of 200 per cent of quota limit*1477-(63/8)65
    VVoluntary Declaration on Trade and Other Current Account Measures4254-(74/75)136
    B/G Res. 29-10190
    Voting power, elected Executive Directors, effect of change in quota180-5142
    WWithdrawal from membership343-(54/47)145
    Effect on participant in borrowing arrangement.1289-(62/1)100
    Lender to oil facility4242-(74/67)111
    “Working balances,” meaning298-3148

    (indicates Decision as amended)

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