Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Accounting for Charges from Members with Overdue Obligations

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

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ARTICLE V, SECTIONS 8 AND 9
Charges and Remuneration

ACCOUNTING FOR CHARGES FROM MEMBERS WITH OVERDUE OBLIGATIONS

The Executive Board decides that, effective November 1, 1986, accrued charges on the use of the Fund’s general resources from a member that is overdue in meeting any financial obligation to the Fund for six months or more will not be included in accrued income unless the member is current in the payment of charges. Charges that are not included in accrued income will instead be reported as deferred income, and will be recorded as income only when paid. Once charges from a member have been reported as deferred income, charges subsequently accrued will not be included in accrued income until the member becomes current in the payment of charges.

Decision No. 8433-(86/175),1

October 31, 1986

1 Ed. Note: This decision replaced Decision No. 7930-(85/41), March 13, 1985

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