Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Summing Up by the Chairman—Fund Involvement in the Debt Strategy, Executive Board Meeting 89/61, May 23, 1989

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

Summing Up by the Chairman—Fund Involvement in the Debt Strategy

Executive Board Meeting 89/61, May 23, 1989

Directors stressed that in promoting orderly financial relations, every effort must be made to avoid arrears, which could not be condoned or anticipated by the Fund in the design of programs. … The Fund’s policy of nontoleration of arrears to official creditors remains unchanged. The debtor member would be expected to continue to treat creditors on a nondiscriminatory basis. …

BUFF/89/89

May 24, 1989

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