A Framework for the Fund’s Issuance of Notes to the Official Sector 14379-(09/67)

Prepared by the Legal Department of the IMF

Page number references in the text are to the Forty-Third issue hard copy volume.

ARTICLE VII

Borrowing

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

1. The Fund endorses the form Note Purchase Agreement (NPA), the General Terms and Conditions for International Monetary Fund Series A and Series B Notes, and the form of registered Series A and B notes that are set out in the Attachment to EBS/09/96, Supplement 2.
2. The Fund is prepared to consider the approval of NPAs with members or central banks of members whose balance of payments and reserve position is sufficiently strong in the opinion of the Fund that their currency is being used in transfers under the Financial Transactions Plan. It is expected that such approval will be sought on a lapse-of-time basis.
3. The conclusion of NPAs shall be subject to the Fund’s guidelines on borrowing, as amended from time to time. (EBS/09/96, Sup. 2, 7/6/09)

Decision No. 14379-(09/67),

July 1, 2009

Selected Decisions and Selected Documents of the IMF, Forty-Third Issue