Selected Decisions and Selected Documents of the IMF, Fortieth Issue

Prepared by the Legal Department of the IMF
As updated as of April 30, 2019

PREFACE

This volume is the Fortieth 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issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions.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.

The Fortieth Issue may be accessed online at the Fund’s external website (through the site index of www.imf.org) and at the IMF eLibrary (www.elibrary.imf.org).

RHODA WEEKS-BROWN

The General Counsel

Director of the Legal Department


ARTICLE III

Quotas and SubscriptionsDocument Number
 Guidelines on Payment of Reserve Assets in Connection with Subscriptions6266-(79/156)

ARTICLE IV

Exchange Arrangements and SurveillanceDocument Number
General Decisions
 Notification of Exchange Arrangements Under Article IV, Section 25712-(78/41)
 Decision on Bilateral and Multilateral Surveillance15203-(12/72)
 The Chairman’s Summing Up—2018 Interim Surveillance Review, Executive Board Meeting 18/31, April 5, 2018EBM/18/31
 The Chairman’s Summing Up—2014 Triennial Surveillance Review, Executive Board Meeting 14/90, September 26, 2014EBM/14/90
 The Acting Chair’s Summing Up—Evenhandedness of Fund Surveillance—Principles and Mechanism for Addressing Concerns, Executive Board Meeting 16/16, February 22, 2016EBM/16/16
 The Chairman’s Summing Up—Approaches to Macrofinancial Surveillance in Article IV Reports, Executive Board Meeting 17/16, March 6, 2017EBM/17/16
Surveillance over Monetary Unions
 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)
Capital Flows, Trade, and Sovereign Wealth Funds
 The Acting Chair’s Summing Up—Increasing Resilience to Large and Volatile Capital Flows—The Role of Macroprudential Policies, Executive Board Meeting 17/55, June 28, 2017EBM/17/55
 The Acting Chair’s Summing Up—Capital Flows—Review of Experience with the Institutional View, Executive Board Meeting 16/110, December 5, 2016EBM/16/110
 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
Governance Issues and Military Expenditures
 Review of 1997 Guidance Note on Governance—A Proposed Framework for Enhanced Fund Engagement16350-(18/32)
 The Role of the Fund in Governance Issues—Guidance Note EBS/97/125, July 2, 1997EBS/97/125
 The Chairman’s Summing Up—Review of 1997 Guidance Note on Governance—A Proposed Framework for Enhanced Fund Engagement, Executive Board Meeting 18/32, April 6, 2018EBM/18/32
 Concluding Remarks by the Acting Chairman—Military Expenditure and the Role of the Fund, Executive Board Meeting 91/138, October 2, 1991EBM/91/138
Surveillance Procedures
 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)
 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
General Decisions
 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
Financial Sector Assessment Program and G-20 Mutual Assessment
 Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program—Update14736-(10/92)
 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
Observance of Standards and Codes
 The Acting Chair’s Summing Up—The 2017 Joint Review of the Standards and Codes Initiative, Executive Board Meeting 17/63, July 17, 2017EBM/17/63
 The 2017 Joint Review of the Standards and Codes Initiative16237-(17/63)
 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
Offshore Financial Centers
 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
Anti-Money Laundering and Combating the Financing of Terrorism
 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
 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
Framework Administered Account
 Technical Assistance—Establishment of Framework Administered Account10942-(95/33)
 Establishment of a New Framework Administered Account for Selected Fund Activities14294-(09/31)
Policy Support and Policy Coordination Instruments
 Policy Support Instrument—Framework13561-(05/85)
 The Acting Chair’s Summing Up—Adequacy of the Global Financial Safety Net—Proposal for a New Policy Coordination Instrument, Executive Board Meeting 17/62, July 14, 2017EBM/17/62
 Adequacy of the Global Financial Safety Net—New Policy Coordination Instrument—Framework16230-(17/62)
Financial ServicesDocument Number
Poverty Reduction and Growth Trust
 Poverty Reduction and Growth Trust8759-(87/176) ESAF
 The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, 2017, Executive Board Meeting 17/38, May 15, 2017EBM/17/38
 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
 Amendment to the Poverty Reduction and Growth Trust Instrument and Floor for the Six-Month Derived SDR Interest Rate16051-(16/86)
 Poverty Reduction and Growth Trust—Interest Rates for Loans Under the Extended Credit Facility and the Standby Credit Facility16060-(16/91)
 Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Review of Poverty Reduction and Growth Trust Access Limits15819-(15/66)
 The Acting Chair’s Summing Up— Poverty Reduction and Growth Trust—Review of Interest Rate Structure, Executive Board Meeting 16/91, October 3, 2016EBM/16/91
 The Acting Chair’s Summing Up—Large Natural Disasters—Enhancing the Financial Safety Net for Developing Countries, Executive Board Meeting 17/35, May 5, 2017EBM/17/35
 The Acting Chair’s Summing Up—Social Safeguards and Program Design in PRGT and PSI-Supported Programs, Executive Board Meeting 17/43, May 26, 2017EBM/17/43
 The Acting Chair’s Summing Up—Review of the Debt Sustainability Framework for Low Income Countries—Proposed Reforms, Executive Board Meeting 17/79, September 27, 2017EBM/17/79
 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 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
 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)
 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)
Heavily Indebted Poor Countries
 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)
 PRGF-HIPC Trust Instrument —Sunset Clause on Eligibility13797-(06/88)
 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 SubsidizaEBM/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
Multilateral Debt Relief Initiative
 Liquidation of the MDRI-II Trust—Establishment of a Post-MDRI-II Trust Interim Administered Account15811-(15/63)
Catastrophe Containment and Relief (CCR) Trust
 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)
 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
General Decisions
 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
Conditionality
 Guidelines on Conditionality12864-(02/102)
 Relationship Between Performance Criteria and Phasing of Purchases Under Fund Arrangements—Operational Guidelines7925-(85/38)
 The Chairman’s Summing Up—Program Design in Currency Unions, Executive Board Meeting 18/15, February 21, 2018EBM/18/15
 Reform of the Policy on Public Debt Limits in Fund-Supported Programs15688-(14/107)
 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
 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, 2000EBM/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
 Risk Acceptance Statements15948-(16/15)
Credit Tranche Policies and Facilities
 Stand-By Arrangements12865-(02/102)
 General Policies on Use of the Fund’s Resources: Tranche PoliciesDN1
 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 Acting Chair’s Summing Up—Adequacy of the Global Financial Safety Net—Review of the Flexible Credit Line and Precautionary and Liquidity Line, and Proposals for Toolkit Reform—Revised Proposals, Executive Board Meeting 17/98, December 6, 2017EBM/17/98
 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
 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, 2014EBM/11/2014
 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
 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)
 The Chairman’s Summing Up—Review of Facilities for Low-Income Countries, Executive Board Meeting 12/85, September 6, 2012EBM/12/85
Trade-Related Balance of Payments Adjustment—Fund Support
 Trade Integration Mechanism13229-(04/33)
Arrears to Creditors and Debt Strategy
 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, 1984EBM/84/99 A
Access Policy
 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
 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
Emergency Financing Mechanism and Post-Program Monitoring
 Summing Up by the Chairman—Emergency Financing Mechanism, Executive Board Meeting 95/85, September 12, 1995EBM/95/85
 Post-Program Monitoring13454-(05/26)
 The Acting Chair’s Summing Up Strengthening the Framework for Post-Program Monitoring, Executive Board Meeting 16/51, July 1, 2016EBM/16/51

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
 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 2018 and FY 2019-2020—The Rate of Charge on the Use of Fund Resources for FY 2019 and FY 202016363-(18/36)

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—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)
 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 TransfersDN2

ARTICLE VI, SECTION 3

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

ARTICLE VII

BorrowingDocument Number
 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—Maintaining Access to Bilateral Borrowing and Review of the Borrowing Guidelines, Executive Board Meeting 16/77, August 29, 2016EBM/16/77
 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 Transactions3153-(70/95)
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
 The Special Data Dissemination Standard (SDDS), the SDDS Plus, and the Enhanced General Data Dissemination Standard (e-GDDS)DN3

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 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)
 The Chairman’s Summing Up—Collaboration between Regional Financing Arrangements and the IMF, Executive Board Meeting 17/68, July 26, 2017EBM/17/68
 The Exchange of Documents Between the Fund and Regional Financing Arrangements16307-(17/102)

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

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 Account, Executive Board Meeting 18/17, March 6, 2018EBM/18/17
 Review of the Rules and Regulations of the Investment Account—Amendment15857-(15/82)
 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
 2018 Review of the Fund’s Transparency Policy15420-(13/61)
 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)

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
 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 Amendment of Rule T-1(c)15891-(15/109)
 Review of the Method of Valuation of the SDR—Amendment to Rule O-116061-(16/91)
 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 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
 The Chairman’s Summing Up—Considerations on the Role of the SDR, Executive Board Meeting 18/27, March 30, 2018EBM/18/27

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 2018 and FY 2019-2020—Assessment Under Article XX, Section 4 for FY 201816358-(18/36)

ARTICLE XXVI

Remedial Measures on Overdue Financial Obligations to the FundDocument Number
 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 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
 Review of the Fund’s Strategy on Overdue Financial Obligations16247-(17/69)
 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

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 Governors29-8
 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 ProcedureDN5
 Development Committee: Rules of ProcedureDN6
 Development Committee: Changes in the Organization of Work and Structure of the Secretariat FunctionDN7

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

 A. Agreement Between the United Nations and the International Monetary FundDN8
 B. United Nations Convention on the Privileges and Immunities of the Specialized Agencies and Annex VDN9
 C. The International Monetary Fund and the World Trade Organization Relations with World Trade Organization (WTO)—Fund-WTO Cooperation Agreement11381-(96/105)
 Decision Adopted by the General Council Concerning Agreements Between the WTO and the IMF and the World Bank at Its Meeting on 7, 8, and 13 November 1996 (WT/L/194, 18 November 1996)DN10
 D. Agreement Between the International Monetary Fund and the World Trade OrganizationDN11
 Public Disclosure of Fund Statements for the World Trade Organization16072-(16/96)