Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Annual Reimbursement of General Resources Account in Respect of Expenses of Conducting Business of PRGF-ESF Trust

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

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ARTICLE V, SECTION 12(f)
Special Disbursement Account

ANNUAL REIMBURSEMENT OF GENERAL RESOURCES ACCOUNT IN RESPECT OF EXPENSES OF CONDUCTING BUSINESS OF PRGF-ESF TRUST

  • 1. Beginning the financial year in which the Fund adopts a decision authorizing the sale of the current stock of post-Second Amendment gold, the Fund will resume annual reimbursements of the General Resources Account in respect of the expenses of conducting the business of the PRGF-ESF Trust, pursuant to Decision No. 8760-(87/176), adopted December 18, 1987.

  • 2. Notwithstanding paragraph 1 above, the lending and subsidization capacity of the PRGF-ESF Trust will be kept under close review and, if a determination is made by the Fund that the resources of the Trust are likely to be insufficient to support anticipated demand for PRGF-ESF assistance and the Fund has been unable to obtain additional subsidy resources, the Fund should temporarily suspend annual reimbursements of the General Resources Account in respect of the expenses of conducting the business of the PRGF-ESF Trust. Upon suspension, the Fund will engage donors with a view to restoring the sustainability of the PRGF-ESF Trust. (SM/08/80, Rev. 1, Sup. 1; 4/8/08)

Decision No. 14093-(08/32),

April 7, 2008

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