Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Failure to Meet a Repurchase Expectation and Use of Fundís General Resources, Executive Board Meeting 85/26, February 20, 1985

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

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ARTICLE V, SECTION 3(a), (b), AND (c)
Use of Fund Resources

Failure to Meet a Repurchase Expectation and Use of Fund’s General Resources

Executive Board Meeting 85/26, February 20, 1985

The Executive Board agreed … that, if a member were failing to meet a repurchase expectation pursuant to the Guidelines on Corrective Action with respect to a noncomplying purchase, the Fund would not negotiate or approve either a stand-by or extended arrangement for the member or the use of the Fund’s general resources outside an arrangement, as in the case of an overdue financial obligation to the Fund.

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