Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

PREFACE

This volume is the Thirty-Eighth Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.

As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions.

Wherever reference is made in these decisions and documents to a provision of the Fund’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

A compact disc (CD) containing the texts of the 38th Issue, the Articles of Agreement, and By-Laws, Rules and Regulations is available from the Fund.

Sean Hagan

The General Counsel

Director of the Legal Department


ARTICLE III

Quotas and SubscriptionsDocument Number
 Adjustment of Quotas408-2
 Reform of Quota and Voice in the International Monetary Fund63-2
 Fourteenth General Review of Quotas and Reform of the Executive Board66-2
 Gold and Currency Subscribed to the Fund and Accounting by Members for Transactions with the Fund170-3
 Guidelines on Payment of Reserve Assets in Connection with Subscriptions6266-(79/156)

ARTICLE IV

Exchange Arrangements and SurveillanceDocument Number
 Notification of Exchange Arrangements Under Article IV, Section 25712-(78/41)
 The Chairman’s Summing Up—Modernizing the Legal Framework for Surveillance—An Integrated Surveillance Decision, Executive Board Meeting 12/72, July 18, 2012EBM/12/72
 Decision on Bilateral and Multilateral Surveillance15203-(12/72)
 The Chairman’s Summing Up— 2014 Triennial Surveillance Review Executive Board Meeting 14/90, September 26, 2014EBM/14/90
 Exchange Arrangements and SurveillanceEBM/13/21
 Surveillance over Monetary and Exchange Rate Policies: Members of Euro Area11846-(98/125)
 Modalities for Surveillance over Euro-Area Policies in Context of Article IV Consultations with Member Countries12899-(02/119)
 Modalities for Surveillance over Central African Economic and Monetary Union Policies in Context of Article IV Consultations with Member Countries13654-(06/1)
 Modalities for Surveillance over Eastern Caribbean Currency Union Policies in Context of Article IV Consultations with Member Countries13655-(06/1)
 Modalities for Surveillance over West African Economic and Monetary Union Policies in Context of Article IV Consultations with Member Countries13656-(06/1)
 The Acting Chair’s Summing Up—The Liberalization and Management of Capital Flows—An Institutional View, Executive Board Meeting 12/105, November 16, 2012EBM/12/105
 The Chairman’s Summing Up—Review of the Role of Trade in the Work of the Fund, Executive Board Meeting 15/21, February 27, 2015EBM/15/21
 The Acting Chair’s Summing Up—Sovereign Wealth Funds—The Santiago Principles—Generally Accepted Principles and Practices Developed by the International Working Group, Executive Board Meeting 08/87, October 3, 2008EBM/08/87
 The Role of the Fund in Governance Issues—Guidance Note EBS/97/125, July 2, 1997EBS/97/125
 Concluding Remarks by the Acting Chairman—Military Expenditure and the Role of the Fund, Executive Board Meeting 91/138, October 2, 1991EBM/91/138
 Article IV Consultation Cycles14747-(10/96)
 Proposed Steps to Address Excessive Delays in the Completion of Article IV Consultations15106-(12/21)
 Surveillance Procedures—Implementation of Three-Month Period7427-(83/83)
 Article IV Consultation Documentation—Recent Economic Developments12661-(02/6)
 Guidelines on Minimum Circulation Periods for Executive Board Documents—Amendment14260-(09/11)
 Lapse of Time Procedures for Article IV Consultations14766-(10/115)

ARTICLE V, SECTION 2(b)

Technical and Financial Services
Technical ServicesDocument Number
 Enhanced Surveillance: Procedures for Transmittal of Staff Reports8222-(86/45)
 Enhanced Surveillance: Midterm Review10365-(93/67)
 Summing Up by the Chairman—Biennial Review of the Fund’s Surveillance Policy, Executive Board Meeting 93/15, January 29, 1993EBM/91/15
 Summing Up by the Acting Chairman—Settlement of Disputes Between Members Relating to External Financial Obligations—Role of the Fund, Executive Board Meeting 84/99, June 22, 1984EBM/84/99
 The Chairman’s Summing Up of the Discussion of the Role of the Fund in Assisting Members with Commercial Banks and Official Creditors, Executive Board Meeting 85/132, September 4, 1985EBM/85/132
 Summing Up by the Acting Chairman—Financial Sector Assessment Program—A Review—Lessons from the Pilot and Issues Going Forward, Executive Board Meeting 00/123, December 13, 2000EBM/00/123
 Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program—Update15495-(13/111)
 The Acting Chair’s Summing Up—Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program—Update, Executive Board Meeting 13/111, December 6, 2013EBM/13/111
 The Acting Chair’s Summing Up— Review of the Financial Sector Assessment Program—Further Adaptation to the Post-Crisis Era, Executive Board Meeting 14/85, September 15, 2014EBM/14/85
 Confidentiality Protocol—Protection of Sensitive Information in the Financial Sector Assessment ProgramSM/00/54
 The G-20 Mutual Assessment Process and the Role of the Fund14487-(09/125)
 The Acting Chair’s Summing Up—Review of the Fund’s Involvement in the G-20 Mutual Assessment Process, Executive Board Meeting 11/56, June 3, 2011EBM/11/56
 Reports on Observance of Standards and Codes12662-(02/6)
 The Acting Chair’s Summing Up—2011 Review of the Standards and Codes Initiative, Executive Board Meeting 11/24, March 9, 2011EBM/11/24
 The Acting Chair’s Summing Up—Ninth Review of the Fund’s Data Standards Initiatives, Executive Board Meeting 15/43, May 1, 2015EBM/15/43
 The Acting Chair’s Summing Up—Offshore Financial Centers—Report on the Assessment Program and Proposal for Integration with the Financial Sector Assessment Program, Executive Board Meeting 08/48, May 30, 2008EBM/08/48
 Summing Up by the Acting Chair—Anti-Money Laundering and Combating the Financing of Terrorism—Proposals to Assess a Global Standard and to Prepare ROSCs, Executive Board Meeting 02/80, July 26, 2002EBM/02/80
 Report on Outcome of FATF Plenary Meeting and Endorsement of Methodology for Assessing Compliance with Anti-Money Laundering and Combating Financing of Terrorism Standard12884-(02/114)
 The Acting Chair’s Summing Up—Twelve-Month Pilot Program of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Assessments—Joint Report on the Review of the Pilot Program, Executive Board Meeting 04/29, March 24, 2004EBM/04/29
 The Acting Chair’s Summing Up—Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)—Report on the Review of the Effectiveness of the Program, Executive Board Meeting 11/55, June 1, 2011EBM/11/55
 The Acting Chair’s Summing Up—Review of the Fund’s Strategy on Anti-Money Laundering and Combating the Financing of Terrorism, Executive Board Meeting 14/22, March 12, 2014EBM/14/22
 Technical Assistance—Establishment of Framework Administered Account10942-(95/33)
 Establishment of a New Framework Administered Account for Selected Fund Activities14294-(09/31)
 Policy Support Instrument—Framework13561-(05/85)
 Modifications of the Fund’s Conditionality Framework—Application to the Policy Support Instrument14317-(09/41)
Financial ServicesDocument Number
 A New Architecture of Facilities for Low-Income Countries and Reform of the Fund’s Concessional Financing Framework14354-(09/79)
 Poverty Reduction and Growth Trust8759-(87/176) ESAF
 Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Review of Poverty Reduction and Growth Trust Access Limits15819-(15/66)
 Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits15092-(12/19)
 Instrument to Establish the Interim Administered Account for Remaining Windfall Gold Sales Profits15228-(12/95)
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—PRG Trust Reimbursement for FY 201415581-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—Poverty Reduction and Growth Trust Reimbursement for FY 201515770-(15/41)
 The Acting Chair’s Summing Up—Poverty Reduction and Growth Trust—Review of Interest Rate Structure, Executive Board Meeting 14/109, December 10, 2014EBM/14/109
 The Chairman’s Summing Up—Macroeconomic and Operational Challenges in Countries in Fragile Situations, Executive Board Meeting 11/72, July 7, 2011EBM/11/72
 The Acting Chair’s Summing Up—Revisiting the Debt Sustainability Framework for Low-Income Countries, Executive Board Meeting 12/16, February 15, 2012EBM/12/16
 The Chairman’s Summing Up—Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters, Executive Board Meeting 15/12, February 4, 2015EBM/15/12
 The Acting Chair’s Summing Up—Reform of the Fund’s Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries—Proposals, Executive Board Meeting, 15/62, June 22, 2015EBM/15/62
 Facilitating Mobilization of Loan Resources for Concessional Lending to Low-Income Countries14593-(10/41)
 Poverty Reduction and Growth Facility Trust—Other Provisions11832-(98/119) ESAF
 Transformation of the Enhanced Structural Adjustment Facility12087-(99/118) PRGF
 Establishment of General Policy to Condition Waiver Decisions Under the Poverty Reduction and Growth Trust on Accuracy of Information Regarding Performance Criteria12254-(00/77)
 Access Limits Under Poverty and Growth Facility—Review14065-(08/18)
 Contributions to PRGF and PRGF-HIPC Trusts—Value Date for Operations and Transactions13004-(03/39) PRGF
 Poverty Reduction and Growth Facility Trust—Borrowing for Loan Account—Consultation with Creditors12559-(01/85) PRGF
 The Chairman’s Summing Up of the Discussion on the Enhancement of the Structural Adjustment Facility—Operational Arrangements, Executive Board Meeting 87/171, December 15, 1987EBM/87/171
 The Chairman’s Remarks at the Conclusion of the Discussion on the Enhancement of the Structural Adjustment Facility—Legal Documentation, Executive Board Meeting 87/176, December 18, 1987EBM/87/176
 Establishment of a Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries and Interim ECF Subsidy Operations (PRG-HIPC Trust)11436-(97/10)
 Trust for Special ESAF Operations for Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations—Terms and Conditions for Administration of Account Provided Under Section III, Paragraph 5(b) of Trust11698-(98/38) ESAF
 The Chairman’s Summing Up at the Conclusion of the Discussion on the Modalities for Special ESAF Operations in the Context of the HIPC Initiative and Other ESAF Issues, Executive Board Meeting 97/10, February 4, 1997EBM/97/10
 The Acting Chair’s Summing Up—HIPC Initiative—Status of Implementation; Background Papers on the Achievement of Long-Term External Debt Sustainability and External Debt Management in HIPCs; and Update on Financing of PRGF and HIPC Operations and Subsidization of Post-Conflict Emergency Assistance, Executive Board Meeting 02/40, April 9, 2002EBM/02/40
 Summing Up by the Chairman—Enhanced Initiative for Heavily Indebted Poor Countries (HIPCs) and Poverty Reduction Strategy Papers (PRSPs)—Progress Reports and Review of Implementation, Executive Board Meeting 00/90, September 5, 2000EBM/00/90
 Summing Up by the Acting Chairman—Initiative for Heavily Indebted Poor Countries—Proposal for Streamlining Preliminary Documents, Executive Board Meeting 00/108, November 3, 2000EBM/00/108
 The Acting Chair’s Summing Up—2005 Review of the Poverty Reduction Strategy Approach—Balancing Accountabilities and Scaling Up Results—Synthesis, Executive Board Meeting 05/78, September 9, 2005EBM/05/78
 Joint Staff Advisory Notes—Amendments to Streamline Modalities14253-(09/8)
 The Acting Chair’s Summing Up—Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)—Status of Implementation and Proposals for the Future of the HIPC Initiative, Executive Board Meeting 11/115, November 30, 2011EBM/11/115
 The Acting Chair’s Summing Up—Heavily Indebted Poor Countries (HIPC) Initiative—Status of Implementation, Executive Board Meeting 05/78, September 9, 2005DN16-38
 Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters—Transformation of the Post-Catastrophe Debt Relief (PCDR) Trust into the Catastrophe Containment and Relief (CCR) Trust and Liquidation of the MDRI-I Trust15708-(15/12)
 Liquidation of the MDRI-II Trust—Establishment of a Post-MDRI-II Trust Interim Administered Account15811-(15/63)
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—MDRI-I Trust Reimbursement for FY 201415579-(14/37)
 Liquidation of the MDRI-II Trust—Liquidation of the MDRI-II Trust and Transfer of the Remaining Balances15810-(15/63)
 Liquidation of the MDRI-II Trust—Establishment of a Post-MDRI-II Trust Interim Administered AccountDN12-38
 Administered AccountsDN17
 Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters—Transformation of the Post-Catastrophe Debt Relief (PCDR) Trust into the Catastrophe Containment and Relief (CCR) Trust and Liquidation of the MDRI-I TrustDN11-38
 Catastrophe Containment and Relief Trust Fund—Establishment and Related Matters14649-(10/64)
 Catastrophe Containment and Relief Trust Fund—Umbrella Account—Establishment of Account and Terms and Conditions14650-(10/64)

ARTICLE V, SECTION 3(a), (b), AND (c)

Use of Fund ResourcesDocument Number
 Interpretation of Articles of Agreement71-2
 Use of Fund’s Resources for Capital Transfers1238-(61/43)
 Use of Fund’s Resources: Meaning of “Consistent with the Provisions of This Agreement” in Article V, Section 3287-3
 Use of Fund’s Resources: Meaning of Article V, Section 3(b)(ii)284-4
 Guidelines on Conditionality12864-(02/102)
 Relationship Between Performance Criteria and Phasing of Purchases Under Fund Arrangements—Operational Guidelines7925-(85/38)
 The Acting Chair’s Summing Up—Review of Conditionality, Executive Board Meeting 12/84, September 5, 2012EBM/12/84
 The Acting Chair’s Summing Up—Reform of the Policy on Public Debt Limits in Fund-Supported Programs, Executive Board Meeting 14/107, December 5, 2014EBM/14/107
 Reform of the Policy on Public Debt Limits in Fund-Supported Programs15688-(14/107)
 The Acting Chair’s Summing Up—Review of the Policy on Debt Limits in Fund-Supported Programs, Executive Board Meeting 13/26, March 22, 2013EBM/13/26
 Guidelines on Performance Criteria with Respect to Foreign Borrowing—Change in Implementation of Revised Guidelines11248-(96/38)
 Reduction of Blackout Periods in GRA Arrangements14407-(09/105)
 The Acting Chair’s Summing Up—Conditionality in Evolving Monetary Policy Regimes, Executive Board Meeting 14/28, March 26, 2014EBM/14/28
 Conditionality Governing the Use of Fund Resources14280-(09/29)
 The Acting Chair’s Summing Up—GRA Lending Toolkit and Conditionality—Reform Proposals, Executive Board Meeting 09/29 March 24, 2009EBM/09/29
 Elimination of Certain Special Facilities14282-(09/29)
 Use of Fund Resources—Side Letters12067-(99/108)
 Summing Up by the Acting Chair—Review of Side Letters and the Use of Fund Resources, Executive Board Meeting 02/59, June 12, 2002EBM/02/59
 Misreporting and Noncomplying Purchases in the General Resources Account—Guidelines on Corrective Action7842-(84/165)
 Making the Misreporting Policies Less Onerous in De Minimis Cases13849-(06/108)
 Establishment of General Policy to Condition Decisions in the General Resources Account on Accuracy of Information Regarding Implementation of Prior Actions12250-(00/77)
 Establishment of General Policy to Condition Waiver Decisions in the General Resources Account on Accuracy of Information Regarding Performance Criteria12251-(00/77)
 Overdue Financial Obligations—Amended Decisions12548-(01/84)
 Establishment of General Policy to Condition Decisions Under the Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility on Accuracy of Information Regarding Implementation of Prior Actions12253-(00/77)
 Failure to Meet a Repurchase Expectation and Use of Fund’s General Resources, Executive Board Meeting 85/26, February 20, 1985EBM/85/26
 Summing Up by the Acting Chairman on Strengthening Safeguards on the Use of Fund Resources and Misreporting of Information to the Fund—Policies, Procedures, and Remedies—Preliminary Considerations, Executive Board Meeting 00/32, March 23, 2000 EBM/00/32
 The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience and Next Steps, Executive Board Meeting 02/26, March 14, 2002EBM/02/26
 The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience; The Safeguards Policy—Independent Panel’s Advisory Report, Executive Board Meeting 10/76, July 23, 2010EBM/10/76
 The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience, Executive Board Meeting 15/96, October 23, 2015EBM/15/96
 Stand-By Arrangements12865-(02/102)
 General Policies on Use of the Fund’s Resources: Tranche PoliciesDN4
 Summing Up by the Acting Chair—Lessons from the Real-Time Assessments of Structural Conditionality, Executive Board Meeting 02/36, April 3, 2002EBM/02/36
 Extended Fund Facility4377-(74/114)
 Stand-By and Extended Arrangements—Standard Forms10464-(93/130)
 Completion of Reviews Under Stand-By and Extended Arrangements12278-(00/86)
 Flexible Credit Line (FCL) Arrangements14283-(09/29)
 The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance—Precautionary and Liquidity Line (PLL) Arrangements15017-(11/112)
 The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance—Review of Decisions on FCL Arrangements and PLL Arrangements15019-(11/112)
 The Chairman’s Summing Up—Review of the Flexible Credit Line and Precautionary Credit Line; The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance, Executive Board Meeting 11/112, November 21, 2011EBM/11/112
 The Chairman’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument, Executive Board Meeting 14/15, February 14, 2014EBM/14/15
 Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Next Review15596-(14/46)
 Statement by the Staff Representative on the Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals, Executive Board Meeting, June 11, 2014BUFF/14/49
 The Acting Chair’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals, Executive Board Meeting 14/46, May 21, 2014EBM/14/46
 The Acting Chair’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals—Annex, Executive Board Meeting 14/53, June 11, 2014EBM/14/53
 Omnibus Paper on Easing Work PressuresA-13207 (08/28/09)
 The Chairman’s Summing Up—Selected Streamlining Proposals Under the FY16-18 Medium-Term Budget—Implementation Issues, Executive Board Meeting 15/39, April 23, 2015EBM/15/39
 The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance—Rapid Financing Instrument (RFI)15015-(11/112)
 Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Review of Rapid Financing Instrument Access Limits15821-(15/66)
 Summing Up by the Acting Chairman—Fund Assistance to Post-Conflict Countries, Executive Board Meeting 99/38, April 5, 1999EBM/99/38
 The Chairman’s Summing Up—The Role of the Fund in Low-Income Countries, Executive Board Meeting 08/6, July 23, 2008EBM/08/6
 The Chairman’s Summing Up—Review of Facilities for Low-Income Countries, Executive Board Meeting 12/85, September 6, 2012EBM/12/85
 Trade Integration Mechanism13229-(04/33)
 Arrears to Creditors and Debt Strategy3153-(70/95)
 Review of Fund Policies and Procedure on Payments Arrears, Executive Board Meeting 80/154, October 17, 1980EBM/80/154
 Summing Up by the Chairman—Fund Involvement in the Debt Strategy, Executive Board Meeting 89/61, May 23, 1989EBM/89/61
 The Chairman’s Summing Up—Reforming the Fund’s Policy on Non-toleration of Arrears to Official Creditors Executive Board Meeting 15/113, December 8, 2015EBM/15/113
 Summing Up by the Acting Chairman—Fund Policy on Arrears to Private Creditors—Further Considerations, Executive Board Meeting 99/64, June 14, 1999EBM/99/64
 The Acting Chair’s Summing Up—Fund Policy on Lending into Arrears to Private Creditors—Further Consideration of the Good Faith Criterion, Executive Board Meeting 02/92, September 4, 2002EBM/02/92
 Fund’s Policy on Lending into Arrears14036-(08/01)
 Summing Up by the Chairman—Management of the Debt Situation, Executive Board Meeting 91/48, April 3, 1991EBM/91/48
 The Acting Chairman’s Summing Up on the Role of the Fund in the Settlement of Disputes Between Members Relating to External Financial Obligations, Executive Board Meeting 84/99, June 22, 1984DN10-38
 Access Policy and Limits in the Credit Tranches and Under the Extended Fund Facility and on Overall Access to the Fund’s General Resources, and Exceptional Access Policy—Review and Modification14064-(08/18)
 Summing Up by the Acting Chair—Access Policy in Capital Account Crises, Executive Board Meeting 02/94, September 6, 2002EBM/02/94
 The Acting Chair’s Summing Up—Review of Access Policy Under the Credit Tranches and the Extended Fund Facility, and Access Policy in Capital Account Crises—Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy, Executive Board Meeting 03/16, February 26, 2003EBM/03/16
 Summing Up by the Acting Chair—Review of Exceptional Access Policy, Executive Board Meeting 04/36, April 14, 2004EBM/04/36
 The Acting Chair’s Summing Up—The Fund’s Lending Framework and Sovereign Debt—Further Considerations Executive Board Meeting 16/4, January 20, 2016EBM/16/4
 The Chairman’s Summing Up—Crisis Prevention and Precautionary Arrangements—Status Report, Executive Board Meeting 04/90, September 24, 2004EBM/04/90
 Summing Up by the Chairman—Emergency Financing Mechanism, Executive Board Meeting 95/85, September 12, 1995EBM/95/85
 Post-Program Monitoring13454-(05/26)

ARTICLE V, SECTION 3(d) AND (f)

Media of PaymentDocument Number
 Assessment of Strength of Member’s Balance of Payments and Gross Reserve Position for the Purposes of Designation Plans, Operational Budgets, and Repurchases Under Article V, Section 7(b)6273-(79/158) G/S
 Transfers of SDRs Under Article V, Section 3(f)6275-(79/158) G/S
 Members with Outstanding Purchases6352-(79/183)
 Review of Guidelines for Allocation of Currencies11837-(98/121)
 Selection of Currencies by the Fund6774-(81/35)

ARTICLE V, SECTION 5

Ineligibility to Use the Fund’s General ResourcesDocument Number
 Use of Fund’s Resources: Limitation and Ineligibility Under Article V, Section 5284-3
 Use of Fund’s Resources: Postponement and Limitation Under Article V, Section 5286-1

ARTICLE V, SECTION 6

Sales of SDRs by the FundDocument Number
 Sales of SDRs by the Fund6663-(80/160) S

ARTICLE V, SECTION 7

RepurchasesDocument Number
 Guidelines for Early Repurchase6172-(79/101)
 Repurchase5703-(78/39)
 Attribution of Reductions in Fund’s Holdings of Currencies6831-(81/65)

ARTICLE V, SECTIONS 8 AND 9

Charges and RemunerationDocument Number
 Future Changes in Charges on Fund’s Holdings of Members’ Currencies in Excess of Quota4239-(74/67)
 Surcharge on Purchases in Credit Tranches and Under Extended Fund Facility12346-(00/117)
 Media of Payment in General Resources Account5702-(78/39) G/S
 Accounting for Charges from Members with Overdue Obligations8433-(86/175)
 Special Charges on Overdue Financial Obligations to the Fund8165-(85/189) G/TR
 Setoff in Connection with a Retroactive Reduction of Charges Due by Members in Arrears8271-(86/74)
Burden SharingDocument Number
 Income Position—Burden Sharing—Implementation in FY 200011945-(99/49)
 Implementation of Burden Sharing in FY 200112189-(00/45)
 Burden Sharing—Implementation in FY 200713707-(06/40)
 Review of the Fund’s Income Position for FY 2012 and FY 2013-14—PRGT Reserve Account Transfer to Subsidy Account15141-(12/39)
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—The Rate of Charge on the Use of Fund Resources for FY 2015 and FY 201615585-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—The Rate of Charge on the Use of Fund Resources for FY 201615772-(15/41)

ARTICLE V, SECTIONS 10 AND 11

Rates for Computations and Maintenance of ValueDocument Number
 Rates for Computations and Maintenance of Value5590-(77/163)

ARTICLE V, SECTION 12(f)

Special Disbursement AccountDocument Number
 Special Disbursement Account: Investment12152-(00/21)
 Structural Adjustment Facility—Use of Resources of Special Disbursement Account—Regulations for Administration8238-(86/56) SAF
 The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, Executive Board Meeting 15/73, July 17, 2015EBM/15/73
 Structural Adjustment Facility—Use of Resources of Special Disbursement Account—List of Eligible Members and Amounts of Assistance8240-(86/56) SAF
 Eligibility to Use the Fund’s Facilities for Concessional Financing—PRGT Eligibility Criteria14521-(10/3)
 The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, Executive Board Meeting 12/17, February 17, 2012EBM/12/17
 Special Disbursement Account: Review of Structural Adjustment Facility and Establishment of the Enhanced Structural Adjustment Facility8757-(87/176) SAF/ESAF
 Special Disbursement Account: Transfer of Resources from the Special Disbursement Account to the Enhanced Structural Adjustment Facility Trust and Retransfer to the Special Disbursement Account8760-(87/176)
 Special Disbursement Account: Review of Structural Adjustment Facility (SAF), Termination of Authority to Make Commitments to Provide Assistance from SAF in Conjunction with Loans from ESAF Trust, and Transfer of Resources from SDA to ESAF Trust10531-(93/170) SAF
 Modalities of Gold Pledge for Use of PRGF Trust Resources Under Rights Approach10286-(93/23) ESAF
 Annual Reimbursement of General Resources Account in Respect of Expenses of Conducting Business of PRGF-ESF Trust14093-(08/32)

ARTICLE VI, SECTION 1

Use of Fund’s Resources for Capital TransfersDocument Number
 Use of Fund’s Resources for Capital TransfersDN6

ARTICLE VI, SECTION 3

Controls on Capital TransfersDocument Number
 Controls on Capital Transfers541-(56/39)

ARTICLE VII

BorrowingDocument Number
 General Arrangements to Borrow1289-(62/1)
 Transferability of Claims Under General Arrangements to Borrow7628-(84/25)
 New Arrangements to Borrow11428-(97/6)
 The Rollback of Credit Arrangements in the New Arrangements to Borrow (NAB)—Change in Credit Arrangements and Amendment15073-(12/1)
 New Arrangements to Borrow—Transferability of Claims11429-(97/6)
 Establishment of the Borrowed Resources Suspense Accounts6844-(81/75)
 Investment by the Fund of the Currencies Held in the Borrowed Resources Suspense Accounts6845-(81/75)
 Guidelines for Borrowing by the Fund9862-(91/156)
 The Chairman’s Summing Up—Borrowing by the Fund—Proposed Modalities, Executive Board Meeting 12/58, June 15, 2012EBM/12/58
 A Framework for the Fund’s Issuance of Notes to the Official Sector14379-(09/67)

ARTICLE VIII, SECTION 2(b)

Unenforceability of Exchange ContractsDocument Number
 Unenforceability of Exchange Contracts—Fund’s Interpretation of Article VIII, Section 2(b)446-4

ARTICLE VIII AND ARTICLE XIV

Payments RestrictionsDocument Number
 Payments Restrictions for Security Reasons: Fund Jurisdiction144-(52/51)
 Bilateralism and Convertibility433-(55/42)
 Official Clearing and Payments Arrangements—Temporary Exemption from Three-Month Rule10749-(94/67)
 Retention Quotas: Decision and Letter of Transmittal201-(53/29)
 Discrimination for Balance of Payments Reasons955-(59/45)
 Articles VIII and XIV1034-(60/27)
 Summing Up by the Chairman—Biennial Review of the Fund’s Surveillance Policy, Executive Board Meeting 93/15, January 29, 1993EBM/93/15
 Payments Arrears in Current International TransactionsDN13-38
Payments PoliciesDocument Number
 Consultations on Members’ Policies in Present Circumstances4134-(74/4)
Multiple Currency PracticesDocument Number
 Statement to Members Transmitting Fund’s Decisions on Multiple Currency Practices237-2
 Multiple Currency Practices649-(57/33)
 Multiple Currency Practices—Policy6790-(81/43)
 Multiple Currency Practices Applicable Solely to Capital Transactions8648-(87/104)

ARTICLE VIII, SECTION 5

Furnishing of InformationDocument Number
 Strengthening the Effectiveness of Article VIII, Section 513183-(04/10)
 Summing Up by the Acting Chair—Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 04/25, March 15, 2004EBM/04/25
 The Acting Chair’s Summing Up—Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 08/38, May 2, 2008EBM/08/38
 The Acting Chair’s Summing Up—2012 Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 12/98, November 1, 2012EBM/12/98
 Summing Up by the Acting Chairman—Standards for the Dissemination of Economic and Financial Statistics to the Public by Member Countries and Implementation of the SDDS, Executive Board Meeting 96/36, April 12, 1996EBM/96/36
 Establishment of the Special Data Dissemination Standard Plus15257-(12/96)
 Summing Up by the Acting Chairman—General Data Dissemination System, Executive Board Meeting 97/125, December 19, 1997EBM/97/125

ARTICLE IX, SECTION 5

ArchivesDocument Number
 Review of the Fund’s Transparency Policy—Archives Policy14498-(09/126)
 Cooperation with Investigations on Fund Activities by Auditing Institutions of Members—Procedures12424-(01/13)

ARTICLE IX, SECTION 7

Privilege for CommunicationsDocument Number
 Interpretation of Article IX, Section 7534-3

ARTICLE IX, SECTION 8

Immunities and Privileges of Officers and EmployeesDocument Number
 Managing Director—Policy Statement on Immunity of Fund OfficialsA-11780

ARTICLE X

Relations with Other International OrganizationsDocument Number
 The IMF-World Bank Concordat (SM/89/54, Rev. 1)SM/89/54
 Fund/Bank Collaboration: Invitation to the Bank to Send a Staff Member as an Observer, Executive Board Meeting 70/30, April 10, 1970EBM/70/30
 The Chairman’s Summing Up at the Conclusion of the Discussion on Fund-Bank Collaboration and the Adjustment Process—Issues for Consideration, Executive Board Meeting 84/171, November 28, 1984EBM/84/171
 Concluding Remarks by the Acting Chairman—Bank-Fund Collaboration—Report of the Managing Director and the President; and Review of Collaboration in Strengthening Financial Systems, Executive Board Meeting 98/102, September 22, 1998EBM/98/102
 The Acting Chair’s Summing Up—Operational Framework for Debt Sustainability Assessments in Low-Income Countries—Further Considerations, Executive Board Meeting 05/34, April 11, 2005EBM/05/34
 European Central Bank—Observer Status12925-(03/1)
 Guidelines/Framework for Fund Staff Collaboration with the New World Trade Organization10968-(95/43)
 Exchange of Documents with Other International AgenciesA-9786-(93/20)
 Summing Up by the Chairman—Policy Orientation and Balance of Payments Assistance of Bilateral and Multilateral Aid Agencies, Executive Board Meeting 90/106, July 2, 1990EBM/90/106
 The Acting Chair’s Summing Up—IMF Membership in the Financial Stability Board, Executive Board Meeting 10/86, September 8, 2010EBM/10/86
 IMF Membership in the Financial Stability Board15333-(13/23)

ARTICLE XII, SECTION 3

Executive DirectorsDocument Number
 Adjustment of Quota and Voting Power180-5
 Code of Conduct for the Members of the Executive Board of the International Monetary Fund12239-(00/71)
 Executive Board Meetings—Procedural Guidelines, Executive Board Meeting 75/12, February 7, 1975EBM/75/12
 Summings Up and Concluding Remarks for Policy Items—Modification of Review and Finalization ProcessA-12833-(07/55)

ARTICLE XII, SECTION 4

Managing Director and StaffDocument Number
 Authorized Signatories9605-(90/170)

ARTICLE XII, SECTION 6

Reserves, Distribution of Net Income, and InvestmentDocument Number
 The Investment Account—Establishment13710-(06/40) IA
 The Acting Chair’s Summing Up—Review of the Investment Strategy for the Fixed-Income Subaccount of the Investment Account, Executive Board Meeting 15/82, August 31, 2015EBM/15/82
 Review of the Investment Strategy for the Fixed-Income Subaccount of the Investment Account—Amendment to Rules and Regulations15857-(15/82)
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—Transfer of Investment Income for FY 2014 to General Resources Account15583-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—Transfer of Investment Income for FY 2015 to General Resources Account15771-(15/41)
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—Placement of FY 2014 Net Income of the General Resources Account to the Special Reserve and the General Reserve15584-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—Placement of FY 2015 Net Income of the General Resources Account to the Special Reserve and the General Reserve15781-(15/43)
 Review of the Fund’s Income Position for FY 2013 and FY 2014—Transfer of Currencies to the Investment Account for FY 201315380-(13/37)
 The Acting Chair’s Summing Up—Broadening the Fund’s Investment Mandate—Additional Considerations, Executive Board Meeting 12/60, June 20, 2012EBM/12/60
 Use of Gold Sales Profits in the Investment Account15223-(12/82)

ARTICLE XII, SECTION 7

Publication of ReportsDocument Number
 2013 Review of the Fund’s Transparency Policy15420-(13/61)
 Reform of the Fund’s Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries—Web Posting of PRS Documentation13816-(06/98)
 The Acting Chair’s Summing Up—The Fund’s Transparency Policy—Issues and Next Steps, Executive Board Meeting 03/87, September 12, 2003EBM/03/87
 Publicity upon Suspension of Voting Rights and Termination of Suspension10305-(93/32)
 Concluding Remarks by the Acting Chairman—Strengthening the Application of the Guidelines on Misreporting, Executive Board Meeting 00/77, July 27, 2000EBM/00/77
 Summing Up by the Acting Chairman—Transparency and Use of Fund Resources, Executive Board Meeting 99/135, December 20, 1999EBM/99/135
 Summings Up for Internal Purposes on Use of Fund Resources12663-(02/6)
 External Audit Firm Mandatory Rotation and Limits on Provision of Audit-Related Services and Non-Audit-Related Services13323-(04/78)

ARTICLE XIV

Restrictions on Payments and Transfers: WithdrawalDocument Number
 Meaning of “In Exceptional Circumstances” in Article XIV, Section 4117-1

ARTICLE XV, SECTION 2

Valuation of the Special Drawing RightDocument Number
 SDR Valuation Basket—Revised Guidelines for Calculation of Currency Amounts12281-(00/98)
 SDR Valuation Basket—Guidelines for the Calculation of Currency Amounts8160-(85/186) G/S
 Review of the Method of Valuation of the SDR14769-(10/110) G/S
 The Chairman’s Summing Up—Review of the Method of Valuation of the SDR Executive Board Meeting 15/109, November 30, 2015EBM/15/109
 Review of the Method of Valuation of the SDR—Freely Usable Currency—Renminbi15890-(15/109)
 Review of the Method of Valuation of the SDR—Method of SDR Valuation and Adjustment of Rule T-1(c)15891-(15/109)
 Method of Collecting Exchange Rates for the Calculation of the Value of the SDR for the Purposes of Rule O-2(a)6709-(80/189) S

ARTICLE XVII, SECTION 3

Special Drawing Rights: Other HoldersDocument Number
 Special Drawing Rights: Other Holders6467-(80/71) S
 Bank for International Settlements (BIS)—Change in Terms and Conditions of Prescription as Holder of SDRs6484-(80/77) S
 Andean Reserve Fund—Holder of SDRs6486-(80/77) S
 Use of SDRs in Payment of Trust Fund Obligations8642-(87/101) S/TR
 Use of SDRs in Payment of Subsidy8186-(86/9) SBS/S
 Use of SDRs in Operations Under the Structural Adjustment Facility8239-(86/56) SAF/S
 Use of SDRs in Financial Operations Under the Enhanced Structural Adjustment Facility Trust or Under an Administered Account8937-(88/118) ESAF/S
 Use of SDRs in Financial Operations Under the PRGF-HIPC Trustor Under an Administered Account12062-(99/130)

ARTICLE XVIII, SECTION 2

Allocation of Special Drawing RightsDocument Number
 Allocation of Special Drawing Rights for the First Basic Period24-12
 Allocation of Special Drawing Rights for the Third Basic Period34-3
 Allocation of Special Drawing Rights for the Ninth Basic Period64-3

ARTICLE XIX, SECTION 2

Special Drawing Rights: Additional UsesDocument Number
 Use of SDRs in Settlement of Financial Obligations6000-(79/1) S
 Use of SDRs in Loans6001-(79/1) S
 Use of SDRs in Pledges6053-(79/34) S
 Use of SDRs in Transfers as Security for the Performance of Financial Obligations6054-(79/34) S
 Use of SDRs in Swap Operations6336-(79/178) S
 Use of SDRs in Forward Operations6337-(79/178) S
 Use of SDRs in Donations6437-(80/37) S

ARTICLE XIX, SECTION 5

Designation of Participants to Provide CurrencyDocument Number
 Review of Rules for Designation and Method of Calculating Designation Amounts6209-(79/124) S
 Rules for Designation Revision11976-(99/59) S

ARTICLE XIX, SECTION 6

ReconstitutionDocument Number
 Abrogation of Rules for Reconstitution6832-(81/65) S

ARTICLE XX, SECTION 2

ChargesDocument Number
 Payment of Net Charges and Assessment in the SDR Department for the Financial Year Ended April 30, 19827116-(82/68) S

ARTICLE XX, SECTION 4

AssessmentsDocument Number
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—Assessment Under Article XX, Section 4 for FY 201415578-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—Assessment Under Article XX, Section 4 for FY 201515768-(15/41)

ARTICLE XXVI

Remedial Measures on Overdue Financial Obligations to the FundDocument Number
 Overdue Payments to the Fund—Purchases from Fund7908-(85/26)
 Overdue Payments to the Fund—Experience and Procedures, Executive Board Meeting 84/54, April 5, 1984EBM/84/54
 The Chairman’s Summing Up at the Conclusion of the Discussion on Overdue Financial Obligations to the Fund, Executive Board Meeting 85/170, November 25, 1985EBM/85/170
 The Acting Chairman’s Concluding Remarks at the Discussion on Additions to the Special Contingent Account, Executive Board Meeting 88/12, January 29, 1988EBM/88/12
 The Acting Chairman’s Summing Up at the Conclusion of the Discussion on Overdue Financial Obligations—Six-Monthly Report, Executive Board Meeting 88/19, February 10, 1988EBM/88/19
 Procedures for Dealing with Members with Overdue Financial Obligations to the General Department and the SDR Department, Executive Board Meeting 89/101, July 27, 1989EBM/89/101
 Statement by the Managing Director on the Strengthened Cooperative Strategy on Overdue Financial Obligations to the Fund, Executive Board Meeting 90/38, March 16, 1990EBM/90/38
 Summing Up by the Chairman—Operational Modalities of the Rights Approach, Executive Board Meeting 90/97, June 20, 1990EBM/90/97
 Summing Up by the Chairman—Overdue Financial Obligations to the Fund—Six-Monthly Review; Progress Under the Strengthened Cooperative Strategy; and Special Charges—Annual Review, Executive Board Meeting 91/42, March 25, 1991EBM/91/42
 Summing Up by the Acting Chairman—Overdue Financial Obligations to the Fund—Six-Monthly Review; Further Progress Under the Strengthened Cooperative Strategy, Executive Board Meeting 92/58, April 17, 1992EBM/92/58
 The Acting Chairman’s Summing Up—Overdue Financial Obligations—De-Escalation of Remedial Measures Under the Strengthened Cooperative Strategy—Further Considerations, Executive Board Meeting 99/79, July 22, 1999EBM/99/79
 Extension of the Availability of the Rights Approach15853-(15/80)
 Review of the Fund’s Strategy on Overdue Financial Obligations—Flexibility Under the De-Escalation Policy for Members Hit by a Qualifying Catastrophic Disaster14725-(10/84)

ARTICLE XXX( c )

Calculation of Reserve Tranche: Exclusion of Purchases and HoldingsDocument Number
 Exclusion of Purchases in the Credit Tranches and Under Extended Fund Facility6830-(81/65)
 Balances Held in Administrative Account7060-(82/23)

ARTICLE XXX( f )

Freely Usable CurrenciesDocument Number
 Freely Usable Currencies11857-(98/130)

GENERAL

Trust FundDocument Number
 Trust Fund: Means of Payment of Interest by Members on Their Indebtedness Under Loan Agreements6358-(79/188) TR
 Trust Fund: Means of Repayment by Members on Their Indebtedness Under Loan Agreements7142-(82/85) TR
 Trust Fund: Special Charges on Overdue Financial ObligationsDN1
 Trust Fund: Final Direct Distribution of ProfitsDN11
 Trust Fund: Termination and Transfer of Resources to Special Disbursement Account6704-(80/185) TR
 Terms of Repayment of Final Loan Disbursement and Amendment of Trust Instrument6793-(81/45)
Subsidy AccountDocument Number
 Supplementary Financing Facility: Subsidy Account—Instrument6683-(80/185) G/TR
 Review of the Fund’s Income Position for FY 2014 and FY 2015-2016—PCDR Trust Reimbursement for FY 201415580-(14/37)
 Review of the Fund’s Income Position for FY 2015 and FY 2016—Catastrophe Containment and Relief (formerly Post-Catastrophe Debt Relief) Trust Reimbursement for FY 201515769-(15/41)
 Supplementary Financing Facility: Subsidy Account—Investment6854-(81/78) SBS
 Supplementary Financing Facility: Subsidy Account—Suspension of Transfers and Re-Transfer of Surplus7989-(85/81) SBS
 Supplementary Financing Facility: Subsidy Account—Means of Subsidy Payments8185-(86/9) SBS/S
 Supplementary Financing Facility Subsidy Account—Exchange Rate for Payment of Subsidies13005-(03/39) SBS

OTHER SELECTED RESOLUTIONS AND RELATED DOCUMENTS

Document Number
 A. Request for Interpretation of the Articles of Agreement as to the Authority of the Fund to Use Its ResourcesIM-6
 B. Resolution of the United Nations General Assembly 377(V) Entitled “Uniting for Peace”6-8
 C. Composite Resolution on the Work of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues and on a Program of Immediate Action29-7, 29-8, 29-9, 29-10
 Final Report of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues29-7
 Transformation of the Interim Committee of the Board of Governors on the International Monetary System into the International Monetary and Financial Committee of the Board of Governors54-9
 Establishment of Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries29-9
 Other Immediate Steps29-10
 Interim Committee: Rules of ProcedureDN12
 Development Committee: Rules of ProcedureDN13
 Development Committee: Changes in the Organization of Work and Structure of the Secretariat FunctionDN14-38

SELECTED DOCUMENTS RELATING TO THE FUND, THE UNITED NATIONS, AND OTHER INTERNATIONAL ORGANIZATIONS

 A. Agreement Between the United Nations and the International Monetary FundDN15
 B. United Nations Convention on the Privileges and Immunities of the Specialized Agencies and Annex VDN15-38
 C. The International Monetary Fund and the World Trade Organization Relations with World Trade Organization (WTO)—Fund-WTO Cooperation Agreement11381-(96/105)
 D. Agreement Between the International Monetary Fund and the World Trade OrganizationDN9-38