Selected Decisions and Selected Documents of the IMF, Thirty- Sixth Issue -- Establishment of General Policy to Condition Decisions in the General Resources Account on Accuracy of Information Regarding Implementation of Prior Actions

Prepared by the Legal Department of the IMF
As updated as of December 31, 2011

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ARTICLE V, SECTION 3(a), (b), AND (c)
Use of Fund Resources
General Decisions

ESTABLISHMENT OF GENERAL POLICY TO CONDITION DECISIONS IN THE GENERAL RESOURCES ACCOUNT ON ACCURACY OF INFORMATION REGARDING IMPLEMENTATION OF PRIOR ACTIONS

Any decision on the use of resources in the General Resources Account (including decisions approving an arrangement or an outright purchase, completing a review, or granting a waiver either of applicability or for the nonobservance of a performance criterion) will be made conditional upon the accuracy of information provided by the member regarding implementation of prior actions specified in the decision.1 (EBS/00/121, 6/29/00)

Decision No. 12250-(00/77),
July 27, 2000

1 Ed. Note: See also the Concluding Remarks by the Acting Chairman—Strengthening the Application of the Guidelines on Misreporting, EBM/00/77, July 27, 2000, where Directors also supported establishing as normal practice that all prior actions must be carried out at least five working days before the Board discussion to which they relate.

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