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Resolutions

Author(s):
International Monetary Fund. Secretary's Department
Published Date:
November 1988
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Resolution No. 43-1—Increases in Quotas of Members—Ninth General Review

Article III, Section 2(a) of the Articles of Agreement provides in part that “The Board of Governors shall at intervals of not more than five years conduct a general review, and if it deems it appropriate propose an adjustment, of the quotas of the members.” The five-year period since the completion of the Eighth General Review was due to end on March 31, 1988. The Executive Board decided on March 18, 1988, since it had not completed its work on a number of substantive issues relative to the Ninth General Review, to submit a report entitled “Increases in Quotas of Members—Ninth General Review” to the Governors, recommending adoption of a proposed Resolution to extend the date for completing work on the Ninth General Review until April 30, 1989.

In accordance with Section 13 of the By-Laws, the following Resolution was submitted to the Governors on March 22, 1988for a vote without meeting:

Resolved:

That the Board of Governors, having noted the report of the Executive Board entitled “Increases in Quotas of Members—Ninth General Review,” hereby resolves to continue its review under Article III, Section 2(a) and requests the Executive Board to complete its work on this matter and to submit appropriate proposals to the Board of Governors not later than April 30, 1989.

The Board of Governors adopted the foregoing Resolution, effective April 22, 1988.

Resolution No. 43-2—Direct Remuneration of Executive Directors and Their Alternates

Pursuant to Section 14(e) of the By-Laws, the 1988 Joint Committee on the Remuneration of Executive Directors and Their Alternates on April 13, 1988 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 April 29, 1988 requested the Governors to vote without meeting on the above-mentioned Resolution which was submitted to them on April 29, 1988:

Resolved:

That, effective July 1, 1988, 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, $85,640 per year for Executive Directors and $71,630 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 June 15, 1988.

Resolution No. 43-3—Salary of the Managing Director

The Executive Board resolved on June 22, 1988 to recommend an adjustment in the salary of the Managing Director.

In accordance with Section 13 of the By-Laws, the following Resolution was submitted to the Governors on June 24, 1988for a vote without meeting:

Resolved:

That, effective July 1, 1988, the annual salary of the Managing Director of the Fund shall be one hundred fifty-four thousand four hundred dollars (US$154,400).

The Board of Governors adopted the foregoing Resolution, effective July 25, 1988.

Resolution No. 43-4—1988 Regular Election of Executive Directors

The Executive Board resolved on July 29, 1988 that action in connection with the regulations for conduct of the 1988 regular election of Executive Directors should not be postponed until the time of the next regular meeting of the Board of Governors, at which the election would take place.

In accordance with Section 13 of the By-Laws, the following Resolution was submitted to the Governors on August 2, 1988for a vote without meeting:

Resolved:

  • (a) That the proposed Regulations for the Conduct of the 1988 Regular Election of Executive Directors are hereby adopted; and

  • (b) That a Regular Election of Executive Directors shall take place at the Annual Meeting of the Board of Governors in 1990.

The Board of Governors adopted the foregoing Resolution, effective September 6, 1988.

Resolution No. 43-51—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, 1988, the Financial Statements contained therein, and the Administrative Budget for the Financial Year ending April 30, 1989 and the Capital Budget for capital projects beginning in Financial Year 1989 as fulfilling the requirements of Article XII, Section 7 of the Articles of Agreement and Section 20 of the By-Laws.

Resolution No. 43-61—Amendments of the Rules and Regulations

Resolved:

That the Board of Governors of the Fund hereby notifies the Executive Board that it has reviewed the amendments of Rules E-l, 1-6(4), and P-6, which have been made since the 1987 Annual Meeting, and has no changes to suggest.

Resolution No. 43-71—Appreciation

Resolved:

That the Governors of the International Monetary Fund and of the World Bank Group express their deep appreciation to the Federal Republic of Germany and to the city of Berlin, in particular to the President and the Chancellor of the Federal Republic of Germany, for their gracious and warm hospitality;

That they express their gratitude for the excellent facilities of the International Congress Center Berlin; and

That they express particular appreciation to the Governors and Alternate Governors for the Federal Republic of Germany and to their associates for the many contributions which they made toward ensuring the success of the 1988 Annual Meetings.

Adopted by the Board of Governors of the Fund, in Joint Session with the Boards of Governors of the World Bank Group, on September 29, 1988.

Adopted by the Board of Governors of the Fund, in Joint Session with the Boards of Governors of the World Bank Group, on September 29, 1988.

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