Selected Decisions and Selected Documents of the IMF, Thirty- Ninth Issue -- General Policies on Use of the Fund’s Resources: Tranche Policies

Prepared by the Legal Department of the IMF
As updated as of March 31, 2017

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ARTICLE V, SECTION 3(a), (b), AND (C)
Use of Fund Resources
Credit Tranche Policies and Facilities

GENERAL POLICIES ON USE OF THE FUND’S RESOURCES: TRANCHE POLICIES

The Fund’s attitude to requests for transactions within the “first credit tranche”… is a liberal one, provided that the member itself is making reasonable efforts to solve its problems. Requests for transactions beyond these limits require substantial justification.

Annual Report of the Executive Directors,

1963, page 161

1 Ed. Note: See also Annual Reports 1953, 1955, 1959, 1961, and 1962.

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