A Framework for the Fund's Issuance of Notes to the Official Sector

Publication Date:

June 17, 2009

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file


On July 1, 2009, the Executive Board of the International Monetary Fund discussed the Managing Director's proposal for a framework for issuing notes to the official sector. The framework approved by the Executive Board was adapted on the basis of these discussions, as reflected in supplement 2 of the paper. It enables members to invest in IMF paper under note purchase agreements approved by the Board, without any pre-specified limit on the cumulative amount committed under note purchase agreements. The actual issuance of notes will occur should the IMF need additional resources at the time of a loan disbursement to a member. The notes would have similar financial terms to the IMF’s recent bilateral borrowing agreements.


Policy Papers



Publication Date:

June 17, 2009



Please address any questions about this title to publications@imf.org