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Summary Proceedings of the Forty-Second Annual Meetings of the Board of Governors 1987
Chapter

Resolutions

Author(s):
International Monetary Fund. Secretary's Department
Published Date:
November 1987
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Resolution No. 42-1. Direct Remuneration of Executive Directors and Their Alternates

Pursuant to Section 14(e) of the By-Laws, the 1987 Joint Committee on the Remuneration of Executive Directors and their Alternates on June 11, 1987 directed the Secretary of the Fund to transmit its report and recommendations to the Board of Governors of the Fund. The Committee’s report contained the following proposed Resolution for adoption by the Board of Governors.

In accordance with Section 13 of the By-Laws, the Executive Board on June 22, 1987 requested the Governors to vote without meeting on the above-mentioned Resolution which was submitted to them on June 22, 1987:

Resolved:

That, effective July 1, 1987, the annual rates of remuneration of Executive Directors of the Fund and their Alternates pursuant to Section 14(e) of the By-Laws shall be as follows:

  • (i) As salary, $82,000 per year for Executive Directors and $68,600 per year for their Alternates;

  • (ii) As supplemental allowance (for expenses, including housing and entertainment expenses, except those specified in Section 14(f) of the By-Laws), $9,000 per year for Executive Directors and $7,200 per year for their Alternates.

The Board of Governors adopted the foregoing Resolution, effective July 31, 1987.

Resolution No. 42-2. Forthcoming Annual Meetings

The Executive Board decided on July 29, 1987 that action in connection with the places and dates of forthcoming Annual Meetings from 1991 through 1993 should not be postponed until the next regular meeting of the Board of Governors.

In accordance with Section 13 of the By-Laws, the following Resolution was submitted to the Governors on July 31, 1987for a vote without meeting:

Resolved:

That the invitation of the Government of Thailand to hold the Annual Meetings in Bangkok in 1991 be accepted;

That the 1991 Annual Meetings be convened on Tuesday, October 15, 1991; and

That the 1992 and 1993 Annual Meetings be convened, respectively, on Tuesday, September 22 and September 28, in Washington, D.C.

The Board of Governors adopted the foregoing Resolution, effective September 11, 1987.

Resolution No. 42-3. Financial Statements, Report on Audit, and Administrative Budget

Resolved:

That the Board of Governors of the Fund considers the Report on Audit for the Financial Year ended April 30, 1987, the Financial Statements contained therein, and the Administrative Budget for the Financial Year ending April 30, 1988, and the Capital Budget for capital projects beginning in Financial Year 1988 as fulfilling the requirements of Article XII, Section 7 of the Articles of Agreement and Section 20 of the By-Laws.

The Board of Governors adopted the foregoing Resolution, effective October 1, 1987.

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