Preface

This volume is the Forty-Second Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.

As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions.

Wherever reference is made in these decisions and documents to a provision of the Fund’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

The Forty-Second Issue may be accessed online at the Fund’s external website (through the site index of www.imf.org) and at the IMF eLibrary (www.elibrary.imf.org).

RHODA WEEKS - BROWN

General Counsel

Director of the Legal Department


ARTICLE III
Next Document >
Quotas and Subscriptions Document Number
  Guidelines on Payment of Reserve Assets in Connection with Subscriptions 6266-(79/156)

ARTICLE IV
Exchange Arrangements and Surveillance Document Number
General Decisions
  Notification of Exchange Arrangements Under Article IV, Section 2 5712-(78/41)
  Decision on Bilateral and Multilateral Surveillance 15203-(12/72)
  The Acting Chair’s Summing Up 2021 Comprehensive Surveillance Review, Executive Board Meeting 21/45, May 10, 2021 EBM/21/45
  The Chairman’s Summing Up—2018 Interim Surveillance Review, Executive Board Meeting 18/31, April 5, 2018 EBM/18/31
  The Chairman’s Summing Up— 2014 Triennial Surveillance Review, Executive Board Meeting 14/90, September 26, 2014 EBM/14/90
  The Acting Chair’s Summing Up—Evenhandedness of Fund Surveillance—Principles and Mechanism for Addressing Concerns, Executive Board Meeting 16/16, February 22, 2016 EBM/16/16
  The Chairman’s Summing Up—Approaches to Macrofinancial Surveillance in Article IV Reports, Executive Board Meeting 17/16, March 6, 2017 EBM/17/16
Surveillance over Monetary Unions
  Surveillance over Monetary and Exchange Rate Policies: Members of Euro Area 11846-(98/125)
  Modalities for Surveillance over Euro-Area Policies in Context of Article IV Consultations with Member Countries 12899-(02/119)
  Modalities for Surveillance over Central African Economic and Monetary Union Policies in Context of Article IV Consultations with Member Countries 13654-(06/1)
  Modalities for Surveillance over Eastern Caribbean Currency Union Policies in Context of Article IV Consultations with Member Countries 13655-(06/1)
  Modalities for Surveillance over West African Economic and Monetary Union Policies in Context of Article IV Consultations with Member Countries 13656-(06/1)
  Extension of Consultation Cycles Due to COVID-19 Pandemic—Regional Institutions Responsible for Common Policies in Currency Unions 16768-(20/49) A
Capital Flows
  The Chair’s Summing Up—Toward an Integrated Policy Framework, Executive Board Meeting 20/96, September 28, 2020 EBM/20/96 A
  The Acting Chair’s Summing Up—Increasing Resilience to Large and Volatile Capital Flows—The Role of Macroprudential Policies, Executive Board Meeting 17/55, June 28, 2017 EBM/17/55
  The Acting Chair’s Summing Up Capital Flows—Review of Experience with the Institutional View, Executive Board Meeting 16/110, December 5, 2016 EBM/16/110
  The Acting Chair’s Summing Up—The Liberalization and Management of Capital Flows—An Institutional View, Executive Board Meeting 12/105, November 16, 2012 EBM/12/105
Trade
  The Chairman’s Summing Up—Review of the Role of Trade in the Work of the Fund, Executive Board Meeting 15/21, February 27, 2015 EBM/15/21
Sovereign Wealth Funds
  The Acting Chair’s Summing Up—Sovereign Wealth Funds—The Santiago Principles—Generally Accepted Principles and Practices Developed by the International Working Group, Executive Board Meeting 08/87, October 3, 2008 EBM/08/87
Fragile and Conflict-Affected States
  The Chair’s Summing Up The IMF Strategy for Fragile and Conflict- Affected States, Executive Board Meeting 22/23, March 9, 2022 EBM/22/23
Climate Change
  The Chair’s Summing Up IMF Strategy to Help Members Address Climate Change Related Policy Challenges—Priorities, Modes of Delivery, and Budget Implications, Executive Board Meeting 21/73, July 16, 2021 EBM/21/73
Digital Money
  The Chair’s Summing Up The Rise of Public and Private Digital Money—A Strategy to Continue Delivering on the IMF's Mandate, Executive Board Meeting 21/69, July 7, 2021 EBM/21/69
Governance Issues
  Review of 1997 Guidance Note on Governance—A Proposed Framework for Enhanced Fund Engagement 16350-(18/32)
  The Role of the Fund in Governance Issues—Guidance Note EBS/97/125, July 2, 1997 EBS/97/125
  The Chairman’s Summing Up—Review of 1997 Guidance Note on Governance—A Proposed Framework for Enhanced Fund Engagement, Executive Board Meeting 18/32, April 6, 2018 EBM/18/32
Military Expenditures
  Concluding Remarks by the Acting Chairman—Military Expenditure and the Role of the Fund, Executive Board Meeting 91/138, October 2, 1991 EBM/91/138
Surveillance Procedures
  Article IV Consultation Cycles 14747-(10/96)
  Extension of Consultation Cycles Due to COVID-19 Pandemic—Member Article IV Consultations 16767-(20/49)
  Extension of Consultation Cycles Due to COVID-19 Pandemic—Regional Institutions Responsible for Common Policies in Currency Unions 16768-(20/49) B
  Proposed Steps to Address Excessive Delays in the Completion of Article IV Consultations 15106-(12/21)
  Further Extension of Consultation Cycles Due to COVID-19 Pandemic—Temporary Suspension of Framework to Address Excessive Delays in the Completion of Article IV Consultations 16850-(20/77)
  Further Extension of Consultation Cycles Due to COVID-19 Pandemic—Temporary Suspension of Annual Report on Framework to Address Excessive Delays in the Completion of Article IV Consultations 16851-(20/77)
  Surveillance Procedures—Implementation of Three-Month Period 7427-(83/83)
  Guidelines on Minimum Circulation Periods for Executive Board Documents—Amendment 14260-(09/11)
  Lapse of Time Procedures for Article IV Consultations 14766-(10/115)

ARTICLE V, SECTION 2(b)
Technical and Financial Services
Technical Services Document Number
General Decisions
  Summing Up by the Acting Chairman—Settlement of Disputes Between Members Relating to External Financial Obligations—Role of the Fund, Executive Board Meeting 84/99, June 22, 1984 EBM/84/99 A
Financial Sector Assessment Program and G-20 Mutual Assessment
  The Acting Chair’s Summing Up—2021 Financial Sector Assessment Program Review—Towards a More Stable and Sustainable Financial System, Executive Board Meeting 21/46, May 12, 2021 EBM/21/46
  2021 Financial Sector Assessment Program Review—Integrating Stability Assessments Under the Financial Sector Assessment Program into Article IV Surveillance 17041-(21/46)
  Further Extension of Consultation Cycles Due to COVID-19 Pandemic—Temporary Extension of Cycle for Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program 15495-(13/111)
  The Acting Chair’s Summing Up—Mandatory Financial Stability Assessments Under the Financial Sector Assessment Program—Update, Executive Board Meeting 13/111, December 6, 2013 EBM/13/111
  The Acting Chair’s Summing Up— Review of the Financial Sector Assessment Program—Further Adaptation to the Post-Crisis Era, Executive Board Meeting 14/85, September 15, 2014 EBM/14/85
  Confidentiality Protocol—Protection of Sensitive Information in the Financial Sector Assessment Program SM/00/54
  The G-20 Mutual Assessment Process and the Role of the Fund 14487-(09/125)
  The Acting Chair’s Summing Up—Review of the Fund’s Involvement in the G-20 Mutual Assessment Process, Executive Board Meeting 11/56, June 3, 2011 EBM/11/56
Observance of Standards and Codes
  The Acting Chair’s Summing Up Tenth Review of the International Monetary Fund’s Data Standards Initiatives, Executive Board Meeting 22/20, February 28, 2022 EBM/22/20
  The Acting Chair’s Summing Up—The 2017 Joint Review of the Standards and Codes Initiative, Executive Board Meeting 17/63, July 17, 2017 EBM/17/63
  The 2017 Joint Review of the Standards and Codes Initiative 16237-(17/63)
  The Acting Chair’s Summing Up—Ninth Review of the Fund’s Data Standards Initiatives, Executive Board Meeting 15/43, May 1, 2015 EBM/15/43
Offshore Financial Centers
  The Acting Chair’s Summing Up—Offshore Financial Centers—Report on the Assessment Program and Proposal for Integration with the Financial Sector Assessment Program, Executive Board Meeting 08/48, May 30, 2008 EBM/08/48
Anti-Money Laundering and Combating the Financing of Terrorism
  Summing Up by the Acting Chair—Anti-Money Laundering and Combating the Financing of Terrorism—Proposals to Assess a Global Standard and to Prepare ROSCs, Executive Board Meeting 02/80, July 26, 2002 EBM/02/80
  The Acting Chair’s Summing Up—Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)—Report on the Review of the Effectiveness of the Program, Executive Board Meeting 11/55, June 1, 2011 EBM/11/55
  The Acting Chair’s Summing Up—Review of the Fund’s Strategy on Anti-Money Laundering and Combating the Financing of Terrorism, Executive Board Meeting 14/22, March 12, 2014 EBM/14/22
  Participation by Fund Staff in Anti-Money Laundering/Combating the Financing of Terrorism Assessments by Other Assessor Bodies A/14216-(20/8)
Framework Administered Account
  Technical Assistance—Establishment of Framework Administered Account 10942-(95/33)
  Establishment of a New Framework Administered Account for Selected Fund Activities 14294-(09/31)
Policy Support and Policy Coordination Instruments
  Policy Support Instrument—Framework 13561-(05/85)
  The Acting Chair’s Summing Up—Adequacy of the Global Financial Safety Net—Proposal for a New Policy Coordination Instrument, Executive Board Meeting 17/62, July 14, 2017 EBM/17/62
  Adequacy of the Global Financial Safety Net—New Policy Coordination Instrument—Framework 16230-(17/62)
Financial Services Document Number
Poverty Reduction and Growth Trust
  Poverty Reduction and Growth Trust 8759-(87/176) ESAF
  Fund Concessional Financial Support for Low-Income Countries—Responding to the Pandemic—Blended Access to Financing Under the PRGT and the GRA 17082-(21/71)
  The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, 2019, Executive Board Meeting 20/18, February 19, 2020 EBM/20/18
  The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, 2017, Executive Board Meeting 17/38, May 15, 2017 EBM/17/38
  The Acting Chair’s Summing Up—Eligibility to Use the Fund’s Facilities for Concessional Financing, Executive Board Meeting 15/73, July 17, 2015 EBM/17/73
  Amendment to the Poverty Reduction and Growth Trust Instrument and Floor for the Six-Month Derived SDR Interest Rate 16051-(16/86)
  Financing for Development—Enhancing the Financial Safety Net for Developing Countries—Review of Poverty Reduction and Growth Trust Access Limits 15819-(15/66)
  The Acting Chair’s Summing Up—Poverty Reduction and Growth Trust—Review of Interest Rate Structure, Executive Board Meeting 19/42, May 24, 2019 EBM/19/42 A
  The Chairman’s Summing Up—Building Resilience in Developing Countries Vulnerable to Large Natural Disasters, Executive Board Meeting 19/33, May 1, 2019 EBM/19/33
  The Acting Chair’s Summing Up—Large Natural Disasters—Enhancing the Financial Safety Net for Developing Countries, Executive Board Meeting 17/35, May 5, 2017 EBM/17/35
  The Acting Chair’s Summing Up—Social Safeguards and Program Design in PRGT and PSI-Supported Programs, Executive Board Meeting 17/43, May 26, 2017 EBM/17/43
  The Acting Chair’s Summing Up—Review of the Debt Sustainability Framework for Low Income Countries—Proposed Reforms, Executive Board Meeting 17/79, September 27, 2017 EBM/17/79
  The Acting Chair’s Summing Up—Revisiting the Debt Sustainability Framework for Low-Income Countries, Executive Board Meeting 12/16, February 15, 2012 EBM/12/16
  The Acting Chair’s Summing Up—Reform of the Fund’s Policy on Poverty Reduction Strategies in Fund Engagement with Low-Income Countries—Proposals, Executive Board Meeting, 15/62, June 22, 2015 EBM/15/62
  Poverty Reduction and Growth Facility Trust—Other Provisions 11832-(98/119) ESAF
  Transformation of the Enhanced Structural Adjustment Facility 12087-(99/118) PRGF
  Establishment of General Policy to Condition Waiver Decisions Under the Poverty Reduction and Growth Trust on Accuracy of Information Regarding Performance Criteria 12254-(00/77)
  Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits 15092-(12/19)
  Framework Interim Account—Establishment of the Interim Windfall Gold Sales Profits Subaccount, and Termination of the Interim Administered Account for Windfall Gold Sales Profits 16666-(20/27)
  Instrument to Establish the Interim Administered Account for Remaining Windfall Gold Sales Profits 15228-(12/95)
  Framework Interim Account — Establishment of the Interim Remaining Windfall Gold Sales Profits Subaccount, and Termination of the Interim Administered Account for Remaining Windfall Gold Sales Profits 16667-(20/27)
Heavily Indebted Poor Countries
  Establishment of a Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries and Interim ECF Subsidy Operations (PRG-HIPC Trust) 11436-(97/10)
  Trust for Special ESAF Operations for Heavily Indebted Poor Countries and Interim ESAF Subsidy Operations—Terms and Conditions for Administration of Account Provided Under Section III, Paragraph 5(b) of Trust 11698-(98/38) ESAF
  The Chairman’s Summing Up at the Conclusion of the Discussion on the Modalities for Special ESAF Operations in the Context of the HIPC Initiative and Other ESAF Issues, Executive Board Meeting 97/10, February 4, 1997 EBM/97/10
  The Acting Chair’s Summing Up—HIPC Initiative—Status of Implementation; Background Papers on the Achievement of Long-Term External Debt Sustainability and External Debt Management in HIPCs; and Update on Financing of PRGF and HIPC Operations and Subsidization of Post-Conflict Emergency Assistance, Executive Board Meeting 02/40, April 9, 2002 EBM/02/40
  Summing Up by the Chairman—Enhanced Initiative for Heavily Indebted Poor Countries (HIPCs) and Poverty Reduction Strategy Papers (PRSPs)—Progress Reports and Review of Implementation, Executive Board Meeting 00/90, September 5, 2000 EBM/00/90
  Summing Up by the Acting Chairman—Initiative for Heavily Indebted Poor Countries—Proposal for Streamlining Preliminary Documents, Executive Board Meeting 00/108, November 3, 2000 EBM/00/108
Multilateral Debt Relief Initiative
  Liquidation of the MDRI-II Trust—Establishment of a Post-MDRI-II Trust Interim Administered Account 15811-(15/63)
Catastrophe Containment and Relief (CCR) Trust
  Proposal to Enhance Fund Support for Low-Income Countries Hit by Public Health Disasters—Transformation of the Post-Catastrophe Debt Relief (PCDR) Trust into the Catastrophe Containment and Relief (CCR) Trust and Liquidation of the MDRI-I Trust 15708-(15/12)
  Catastrophe Containment and Relief Trust Fund—Establishment and Related Matters 14649-(10/64)
  The Chair’s Summing Up—Catastrophe Containment and Relief Trust—Approval of Grant Assistance for Debt Service Relief, Executive Board Meeting 20/41, April 13, 2020 EBM/20/41

ARTICLE V, SECTION 3(a), (b), AND (c)

Use of Fund Resources Document Number
General Decisions
  Interpretation of Articles of Agreement 71-2
  Use of Fund’s Resources for Capital Transfers 1238-(61/43)
  Use of Fund’s Resources: Meaning of “Consistent with the Provisions of This Agreement” in Article V, Section 3 287-3
  Use of Fund’s Resources: Meaning of Article V, Section 3(b)(ii) 284-4
Conditionality
  Guidelines on Conditionality 12864-(02/102)
  The Chairman’s Summing Up—2018 Review of Program Design and Conditionality, Executive Board Meeting 19/35, May 3, 2019 EBM/19/35
  Relationship Between Performance Criteria and Phasing of Purchases Under Fund Arrangements—Operational Guidelines 7925-(85/38)
  The Chairman’s Summing Up—Program Design in Currency Unions, Executive Board Meeting 18/15, February 21, 2018 EBM/18/15
  The Acting Chair’s Summing Up—Reform of the Policy on Public Debt Limits in IMF-Supported Programs, Executive Board Meeting 20/103, October 28, 2020 EBM/20/103
  Reform of the Policy on Public Debt Limits in Fund-Supported Programs 15688-(14/107)
  Guidelines on Performance Criteria with Respect to Foreign Borrowing—Change in Implementation of Revised Guidelines 11248-(96/38)
  Reduction of Blackout Periods in GRA Arrangements 14407-(09/105)
  The Acting Chair’s Summing Up—Conditionality in Evolving Monetary Policy Regimes, Executive Board Meeting 14/28, March 26, 2014 EBM/14/28
  Conditionality Governing the Use of Fund Resources 14280-(09/29)
  The Acting Chair’s Summing Up—GRA Lending Toolkit and Conditionality—Reform Proposals, Executive Board Meeting 09/29 March 24, 2009 EBM/09/29
  Use of Fund Resources—Side Letters 12067-(99/108)
  Summing Up by the Acting Chair—Review of Side Letters and the Use of Fund Resources, Executive Board Meeting 02/59, June 12, 2002 EBM/02/59
  Misreporting and Noncomplying Purchases in the General Resources Account—Guidelines on Corrective Action 7842-(84/165)
  Making the Misreporting Policies Less Onerous in De Minimis Cases 13849-(06/108)
  Establishment of General Policy to Condition Decisions in the General Resources Account on Accuracy of Information Regarding Implementation of Prior Actions 12250-(00/77)
  Establishment of General Policy to Condition Waiver Decisions in the General Resources Account on Accuracy of Information Regarding Performance Criteria 12251-(00/77)
  Overdue Financial Obligations—Amended Decisions 12548-(01/84)
  Establishment of General Policy to Condition Decisions Under the Extended Credit Facility, Standby Credit Facility and Exogenous Shocks Facility on Accuracy of Information Regarding Implementation of Prior Actions 12253-(00/77)
  Failure to Meet a Repurchase Expectation and Use of Fund’s General Resources, Executive Board Meeting 85/26, February 20, 1985 EBM/85/26
  Summing Up by the Acting Chairman on Strengthening Safeguards on the Use of Fund Resources and Misreporting of Information to the Fund—Policies, Procedures, and Remedies—Preliminary Considerations, Executive Board Meeting 00/32, March 23, 2000 EBM/00/32
  The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience and Next Steps, Executive Board Meeting 02/26, March 14, 2002 EBM/02/26
  The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience; The Safeguards Policy—Independent Panel’s Advisory Report, Executive Board Meeting 10/76, July 23, 2010 EBM/10/76
  The Acting Chair’s Summing Up—Safeguards Assessments—Review of Experience, Executive Board Meeting 15/96, October 23, 2015 EBM/15/96
  Risk Acceptance Statements 15948-(16/15)
Credit Tranche Policies and Facilities
  Stand-By Arrangements 12865-(02/102)
  General Policies on Use of the Fund’s Resources: Tranche Policies DN1
  Summing Up by the Acting Chair—Lessons from the Real-Time Assessments of Structural Conditionality, Executive Board Meeting 02/36, April 3, 2002 EBM/02/36
  Extended Fund Facility 4377-(74/114)
  Stand-By and Extended Arrangements—Standard Forms 10464-(93/130)
  Completion of Reviews Under Stand-By and Extended Arrangements 12278-(00/86)
  Flexible Credit Line (FCL) Arrangements 14283-(09/29)
  The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance—Precautionary and Liquidity Line (PLL) Arrangements 15017-(11/112)
  The Acting Chair’s Summing Up—Adequacy of the Global Financial Safety Net—Review of the Flexible Credit Line and Precautionary and Liquidity Line, and Proposals for Toolkit Reform—Revised Proposals, Executive Board Meeting 17/98, December 6, 2017 EBM/17/98
  The Chairman’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument, Executive Board Meeting 14/15, February 14, 2014 EBM/14/15
  Statement by the Staff Representative on the Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals, Executive Board Meeting, June 11, 2014 DN2
  The Acting Chair’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals, Executive Board Meeting 14/46, May 21, 2014 EBM/14/46
  The Acting Chair’s Summing Up—Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument—Specific Proposals—Annex, Executive Board Meeting 14/53, June 11, 2014 EBM/14/53
  The Chair’s Summing Up—Fund’s Pandemic Response—Lending Options to Support Members During the Next Stage of the Crisis, Executive Board Meeting 20/95, September 25, 2020 EBM/20/95
  The Chair’s Summing Up—IMF COVID-19 Response—A New Short-Term Liquidity Line to Enhance the Adequacy of the Global Financial Safety Net, Executive Board Meeting 20/43, April 15, 2020 EBM/20/43
  Establishment of the Short-Term Liquidity Line 16747-(20/43)
  Omnibus Paper on Easing Work Pressures A-13207 (08/28/09)
  The Chairman’s Summing Up—Selected Streamlining Proposals Under the FY16-18 Medium-Term Budget—Implementation Issues, Executive Board Meeting 15/39, April 23, 2015 EBM/15/39
  The Fund’s Financing Role—Reform Proposals on Liquidity and Emergency Assistance—Rapid Financing Instrument (RFI) 15015-(11/112)
  The Chair’s Summing Up—Enhancing the Emergency Financing Toolkit—Responding to the COVID-19 Pandemic, Executive Board Meeting 20/36, April 6, 2020 EBM/20/36
  The Acting Chair’s Summing Up—2018-19 Review of Facilities for Low-Income Countries—Reform Proposals; Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries, Executive Board Meeting 19/42, May 24, 2019 EBM/19/42 B
  The Chairman’s Summing Up—Review of Facilities for Low-Income Countries, Executive Board Meeting 12/85, September 6, 2012 EBM/12/85
Trade-Related Balance of Payments Adjustment—Fund Support
  Trade Integration Mechanism 13229-(04/33)
Arrears to Creditors and Debt Strategy
  Summing Up by the Chairman—Fund Involvement in the Debt Strategy, Executive Board Meeting 89/61, May 23, 1989 EBM/89/61
  The Chairman’s Summing Up—Reforming the Fund’s Policy on Non-toleration of Arrears to Official Creditors, Executive Board Meeting 15/113, December 8, 2015 EBM/15/113
  Summing Up by the Acting Chairman—Fund Policy on Arrears to Private Creditors—Further Considerations, Executive Board Meeting 99/64, June 14, 1999 EBM/99/64
  The Acting Chair’s Summing Up—Fund Policy on Lending into Arrears to Private Creditors—Further Consideration of the Good Faith Criterion, Executive Board Meeting 02/92, September 4, 2002 EBM/02/92
  Fund’s Policy on Lending into Arrears 14036-(08/01)
  Summing Up by the Chairman—Management of the Debt Situation, Executive Board Meeting 91/48, April 3, 1991 EBM/91/48
  The Acting Chairman’s Summing Up on the Role of the Fund in the Settlement of Disputes Between Members Relating to External Financial Obligations, Executive Board Meeting 84/99, June 22, 1984 EBM/84/99 B
Access Policy
  The Acting Chair’s Summing Up Review of Temporary Modification to the Fund’s Access Limits in Response to the COVID-19 Pandemic, Executive Board Meeting 21/121, December 20, 2021 EBM/21/121
  The Acting Chair’s Summing Up Temporary Extensions and Modifications of Access Limits in the Fund’s Lending Facilities, Executive Board Meeting 21/29, March 22, 2021 EBM/21/29
  The Chair’s Summing Up—Temporary Modification to the Fund’s Annual Access Limits, Executive Board Meeting 20/75, July 13, 2020 EBM/20/75
  Access Policy and Limits in the Credit Tranches and Under the Extended Fund Facility and on Overall Access to the Fund’s General Resources, and Exceptional Access Policy—Review and Modification 14064-(08/18)
  The Acting Chair’s Summing Up—Review of Enhanced Access Limits Under the Rapid Credit Facility and Rapid Financing Instrument, Executive Board Meeting 20/96, September 28, 2020 EBM/20/96 B
  Summing Up by the Acting Chair—Review of Exceptional Access Policy, Executive Board Meeting 04/36, April 14, 2004 EBM/04/36
  The Acting Chair’s Summing Up—Review of Access Policy Under the Credit Tranches and the Extended Fund Facility, and Access Policy in Capital Account Crises—Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy, Executive Board Meeting 03/16, February 26, 2003 EBM/03/16
  The Acting Chair’s Summing Up—Policy Safeguards for Countries Seeking Access to Fund Financial Support that Would Lead to High Levels of Combined GRA-PRGT Exposure, Executive Board Meeting 20/91, September 9, 2020 EBM/20/91
  Policy Safeguards for Countries Seeking Access to Fund Financial Support that Would Lead to High Levels of Combined GRA—PRGT Exposure 16873-(20/91)
  Summing Up by the Acting Chair—Access Policy in Capital Account Crises, Executive Board Meeting 02/94, September 6, 2002 EBM/02/94
  The Acting Chair’s Summing Up—The Fund’s Lending Framework and Sovereign Debt—Further Considerations, Executive Board Meeting 16/4, January 20, 2016 EBM/16/4
Emergency Financing Mechanism
  Summing Up by the Chairman—Emergency Financing Mechanism, Executive Board Meeting 95/85, September 12, 1995 EBM/95/85
  Streamlining Procedures for Board Consideration of the Fund’s Emergency Financing During Exceptional Circumstances Involving a Pandemic—Pandemic Emergency Procedures 16695-(20/37)
Post Financing Assessment (Previously, Post Program Monitoring)
  The Acting Chair’s Summing Up Post Program Monitoring During the Pandemic—Proposal for Temporary Streamlining of Procedures and Renaming of the Policy, Executive Board Meeting 21/44, May 7, 2021 EBM/21/44
  Post Program Monitoring During the Pandemic—Proposal for Temporary Streamlining of Procedures and Renaming of the Policy 13454-(05/26)
  The Acting Chair’s Summing Up Strengthening the Framework for Post-Program Monitoring, Executive Board Meeting 16/51, July 1, 2016 EBM/16/51

ARTICLE V, SECTION 3(d) AND (f)
Media of Payment Document Number
  Assessment of Strength of Member’s Balance of Payments and Gross Reserve Position for the Purposes of Designation Plans, Operational Budgets, and Repurchases Under Article V, Section 7(b) 6273-(79/158) G/S
  Transfers of SDRs Under Article V, Section 3(f) 6275-(79/158) G/S
  Members with Outstanding Purchases 6352-(79/183)
  Review of Guidelines for Allocation of Currencies 11837-(98/121)
  Selection of Currencies by the Fund 6774-(81/35)

ARTICLE V, SECTION 5
Ineligibility to Use the Fund’s General Resources Document Number
  Use of Fund’s Resources: Limitation and Ineligibility Under Article V, Section 5 284-3
  Use of Fund’s Resources: Postponement and Limitation Under Article V, Section 5 286-1

ARTICLE V, SECTION 6
Sales of SDRs by the Fund Document Number
  Sales of SDRs by the Fund 6663-(80/160) S

ARTICLE V, SECTION 7
Repurchases Document Number
  Guidelines for Early Repurchase 6172-(79/101)
  Repurchase 5703-(78/39)
  Attribution of Reductions in Fund’s Holdings of Currencies 6831-(81/65)

ARTICLE V, SECTIONS 8 AND 9
Charges and Remuneration Document Number
  Future Changes in Charges on Fund’s Holdings of Members’ Currencies in Excess of Quota 4239-(74/67)
  Surcharge on Purchases in Credit Tranches and Under Extended Fund Facility and SLL 12346-(00/117)
  Media of Payment in General Resources Account 5702-(78/39) G/S
  Accounting for Charges from Members with Overdue Obligations 8433-(86/175)
  Special Charges on Overdue Financial Obligations to the Fund 8165-(85/189) G/TR
  Setoff in Connection with a Retroactive Reduction of Charges Due by Members in Arrears 8271-(86/74)
  Implementation of Burden Sharing in FY 2001 12189-(00/45)
  Burden Sharing—Implementation in FY 2007 13707-(06/40)

ARTICLE V, SECTIONS 10 AND 11
Rates for Computations and Maintenance of Value Document Number
  Rates for Computations and Maintenance of Value 5590-(77/163)

ARTICLE V, SECTION 12(f)
Special Disbursement Account Document Number
  Special Disbursement Account: Investment 12152-(00/21)
  Structural Adjustment Facility—Use of Resources of Special Disbursement Account—List of Eligible Members and Amounts of Assistance 8240-(86/56) SAF
  Eligibility to Use the Fund’s Facilities for Concessional Financing—PRGT Eligibility Criteria 14521-(10/3)
  Modalities of Gold Pledge for Use of PRGF Trust Resources Under Rights Approach 10286-(93/23) ESAF
  Annual Reimbursement of General Resources Account in Respect of Expenses of Conducting Business of PRGF-ESF Trust 14093-(08/32)

ARTICLE VI, SECTION 1
Use of Fund’s Resources for Capital Transfers Document Number
  Use of Fund’s Resources for Capital Transfers DN3

ARTICLE VI, SECTION 3
Controls on Capital Transfers Document Number
  Controls on Capital Transfers 541-(56/39)

ARTICLE VII
Borrowing Document Number
  New Arrangements to Borrow 11428-(97/6)
  New Arrangements to Borrow—Transferability of Claims 11429-(97/6)
  Establishment of the Borrowed Resources Suspense Accounts 6844-(81/75)
  Investment by the Fund of the Currencies Held in the Borrowed Resources Suspense Accounts 6845-(81/75)
  Guidelines for Borrowing by the Fund 9862-(91/156)
  The Chair’s Summing Up—Maintaining Access to Bilateral Borrowing and Review of the Borrowing Guidelines, Executive Board Meeting 20/32, March 30, 2020 EBM/20/32
  2016 Borrowing Agreements—One-Year Extension of Terms 16513-(19/40)
  The Chairman’s Summing Up—Borrowing by the Fund—Proposed Modalities, Executive Board Meeting 12/58, June 15, 2012 EBM/12/58
  A Framework for the Fund’s Issuance of Notes to the Official Sector 14379-(09/67)

ARTICLE VIII, SECTION 2(b)
Unenforceability of Exchange Contracts Document Number
  Unenforceability of Exchange Contracts—Fund’s Interpretation of Article VIII, Section 2(b) 446-4

ARTICLE VIII AND ARTICLE XIV
Payments Restrictions Document Number
  Payments Restrictions for Security Reasons: Fund Jurisdiction 144-(52/51)
  Bilateralism and Convertibility 433-(55/42)
  Official Clearing and Payments Arrangements—Temporary Exemption from Three-Month Rule 10749-(94/67)
  Retention Quotas: Decision and Letter of Transmittal 201-(53/29)
  Discrimination for Balance of Payments Reasons 955-(59/45)
  Articles VIII and XIV 1034-(60/27)
  Summing Up by the Chairman—Biennial Review of the Fund’s Surveillance Policy, Executive Board Meeting 93/15, January 29, 1993 EBM/93/15
  Payments Arrears in Current International Transactions 3153-(70/95)
Payments Policies Document Number
  Consultations on Members’ Policies in Present Circumstances 4134-(74/4)
Multiple Currency Practices Document Number
  Statement to Members Transmitting Fund’s Decisions on Multiple Currency Practices 237-2
  Multiple Currency Practices—Policy 679-(57/33)
  The Acting Chair’s Summing Up—Review of the Fund’s Policy on Multiple Currency Practices—Initial Considerations, Executive Board Meeting 19/8, February 1, 2019 EBM/19/8
  Multiple Currency Practices Applicable Solely to Capital Transactions 8648-(87/104)

ARTICLE VIII, SECTION 5
Furnishing of Information Document Number
  The Acting Chair’s Summing Up Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 22/25, March 14, 2022 EBM/22/25
  Strengthening the Effectiveness of Article VIII, Section 5 13183-(04/10)
  Summing Up by the Acting Chair—Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 04/25, March 15, 2004 EBM/04/25
  The Acting Chair’s Summing Up—Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 08/38, May 2, 2008 EBM/08/38
  The Acting Chair’s Summing Up—2012 Review of Data Provision to the Fund for Surveillance Purposes, Executive Board Meeting 12/98, November 1, 2012 EBM/12/98
  The Special Data Dissemination Standard (SDDS), the SDDS Plus, and the Enhanced General Data Dissemination Standard (e-GDDS). DN4

ARTICLE IX, SECTION 5
Archives Document Number
  Review of the Fund’s Transparency Policy—Archives Policy 14498-(09/126)
  Cooperation with Investigations on Fund Activities by Auditing Institutions of Members—Procedures 12424-(01/13)

ARTICLE IX, SECTION 7
Privilege for Communications Document Number
  Interpretation of Article IX, Section 7 534-3

ARTICLE IX, SECTION 8
Immunities and Privileges of Officers and Employees Document Number
  Managing Director—Policy Statement on Immunity of Fund Officials A-11780

ARTICLE X
Relations with Other International Organizations Document Number
  The IMF-World Bank Concordat (SM/89/54, Rev. 1) SM/89/54
  Fund/Bank Collaboration: Invitation to the Bank to Send a Staff Member as an Observer, Executive Board Meeting 70/30, April 10, 1970 EBM/70/30
  Concluding Remarks by the Acting Chairman—Bank-Fund Collaboration—Report of the Managing Director and the President; and Review of Collaboration in Strengthening Financial Systems, Executive Board Meeting 98/102, September 22, 1998 EBM/98/102
  The Acting Chair’s Summing Up—Operational Framework for Debt Sustainability Assessments in Low-Income Countries—Further Considerations, Executive Board Meeting 05/34, April 11, 2005 EBM/05/34
  The Acting Chair’s Summing Up—Update on the Joint IMF-WB Multipronged Approach to Address Debt Vulnerabilities, Executive Board Meeting 20/116, December 7, 2020 EBM/20/116
  The Acting Chair’s Summing Up—Review of the Debt Sustainability Framework for Market Access Countries, Executive Board Meeting 21/5, January 14, 2021 EBM/21/5
  European Central Bank—Observer Status 12925-(03/1)
  Guidelines/Framework for Fund Staff Collaboration with the New World Trade Organization 10968-(95/43)
  Exchange of Documents with Other International Agencies A-9786-(93/20)
  Summing Up by the Chairman—Policy Orientation and Balance of Payments Assistance of Bilateral and Multilateral Aid Agencies, Executive Board Meeting 90/106, July 2, 1990 EBM/90/106
  The Acting Chair’s Summing Up—IMF Membership in the Financial Stability Board, Executive Board Meeting 10/86, September 8, 2010 EBM/10/86
  IMF Membership in the Financial Stability Board 15333-(13/23)
  The Chairman’s Summing Up—Collaboration between Regional Financing Arrangements and the IMF, Executive Board Meeting 17/68, July 26, 2017 EBM/17/68
  The Exchange of Documents Between the Fund and Regional Financing Arrangements 16307-(17/102)

ARTICLE XII, SECTION 3
Executive Directors Document Number
  Adjustment of Quota and Voting Power 180-5
  Code of Conduct for the Members of the Executive Board of the International Monetary Fund 12239-(00/71)
  Executive Board Meetings—Procedural Guidelines, Executive Board Meeting 75/12, February 7, 1975 EBM/75/12

ARTICLE XII, SECTION 4
Managing Director and Staff Document Number
  Authorized Signatories 9605-(90/170)

ARTICLE XII, SECTION 6
Reserves, Distribution of Net Income, and Investment Document Number
  The Investment Account—Establishment 13710-(06/40) IA
  The Investment Account—Introducing Private Fixed Income in the Endowment Subaccount 16507-(19/38)
  The Acting Chair’s Summing Up Review of the Investment Account, Executive Board Meeting 18/17, March 6, 2018 EBM/18/17
  The Acting Chair’s Summing Up—Broadening the Fund’s Investment Mandate—Additional Considerations, Executive Board Meeting 12/60, June 20, 2012 EBM/12/60
  Use of Gold Sales Profits in the Investment Account 15223-(12/82)

ARTICLE XII, SECTION 7
Publication of Reports Document Number
  2018-19 Review of the Fund’s Transparency Policy 15420-(13/61)
  Web Posting of Poverty Reduction Strategy Papers 13816-(06/98)
  Publicity upon Suspension of Voting Rights and Termination of Suspension 10305-(93/32)
  Concluding Remarks by the Acting Chairman—Strengthening the Application of the Guidelines on Misreporting, Executive Board Meeting 00/77, July 27, 2000 EBM/00/77
  Summing Up by the Acting Chairman—Transparency and Use of Fund Resources, Executive Board Meeting 99/135, December 20, 1999 EBM/99/135
  Summings Up for Internal Purposes on Use of Fund Resources 12663-(02/6)

ARTICLE XIV
Restrictions on Payments and Transfers: Withdrawal Document Number
  Meaning of “In Exceptional Circumstances” in Article XIV, Section 4 117-1

ARTICLE XV, SECTION 2
Valuation of the Special Drawing Right Document Number
  The Chairman’s Summing Up—Review of the Method of Valuation of the SDR, Executive Board Meeting 15/109, November 30, 2015 EBM/15/109
  Review of the Method of Valuation of the SDR—Freely Usable Currency—Renminbi 15890-(15/109)
  Review of the Method of Valuation of the SDR—Method of SDR Valuation and Adjustment of Rule T-1(c) 15891-(15/109)
  Review of the Method of Valuation of the SDR—Amendment to Rule O-1 16061-(16/91)
  Method of Collecting Exchange Rates for the Calculation of the Value of the SDR for the Purposes of Rule O-2(a) 6709-(80/189) S

ARTICLE XVII, SECTION 3
Special Drawing Rights: Other Holders Document Number
  Special Drawing Rights: Other Holders 6467-(80/71) S
  Bank for International Settlements (BIS)—Change in Terms and Conditions of Prescription as Holder of SDRs 6484-(80/77) S
  Andean Reserve Fund—Holder of SDRs 6486-(80/77) S
  Use of SDRs in Payment of Trust Fund Obligations 8642-(87/101) S/TR
  Use of SDRs in Payment of Subsidy 8186-(86/9) SBS/S
  Use of SDRs in Operations Under the Structural Adjustment Facility 8239-(86/56) SAF/S
  Use of SDRs in Financial Operations Under the Enhanced Structural Adjustment Facility Trust or Under an Administered Account 8937-(88/118) ESAF/S
  Use of SDRs in Financial Operations Under the PRGF-HIPC Trustor Under an Administered Account 12062-(99/130)

ARTICLE XVIII, SECTION 2
Allocation of Special Drawing Rights Document Number
  Allocation of Special Drawing Rights for the Eleventh Basic Period—Executive Board Decision and Managing Director Report to the Board of Governors 64-3

ARTICLE XIX, SECTION 2
Special Drawing Rights: Additional Uses Document Number
  Use of SDRs in Settlement of Financial Obligations 6000-(79/1) S
  Use of SDRs in Loans 6001-(79/1) S
  Use of SDRs in Pledges 6053-(79/34) S
  Use of SDRs in Transfers as Security for the Performance of Financial Obligations 6054-(79/34) S
  Use of SDRs in Swap Operations 6336-(79/178) S
  Use of SDRs in Forward Operations 6337-(79/178) S
  Use of SDRs in Donations 6437-(80/37) S
  The Chairman’s Summing Up—Considerations on the Role of the SDR, Executive Board Meeting 18/27, March 30, 2018 EBM/18/27

ARTICLE XIX, SECTION 5
Designation of Participants to Provide Currency Document Number
  Review of Rules for Designation and Method of Calculating Designation Amounts 6209-(79/124) S
  Rules for Designation Revision 11976-(99/59) S

ARTICLE XIX, SECTION 6
Reconstitution Document Number
  Abrogation of Rules for Reconstitution 6832-(81/65) S

ARTICLE XX, SECTION 2
Charges Document Number
  Payment of Net Charges and Assessment in the SDR Department for the Financial Year Ended April 30, 1982 7116-(82/68) S

ARTICLE XX, SECTION 4
Assessments Document Number
  Review of the Fund’s Income Position for FY 2018 and FY 2019-2020—Assessment Under Article XX, Section 4 for FY 2018 16358-(18/36)

ARTICLE XXVI
Remedial Measures on Overdue Financial Obligations to the Fund Document Number
  The Chairman’s Summing Up at the Conclusion of the Discussion on Overdue Payments to the Fund: Experience and Procedures, Executive Board Meeting 84/54, together with relevant remarks at Meeting 84/55 - April 5, 1984 EBM/84/55
  Overdue Payments to the Fund—Experience and Procedures, Executive Board Meeting 84/54, April 5, 1984 EBM/84/54
  The Chairman’s Summing Up at the Conclusion of the Discussion on Overdue Financial Obligations to the Fund, Executive Board Meeting 85/170, November 25, 1985 EBM/85/170
  The Acting Chairman’s Summing Up at the Conclusion of the Discussion on Overdue Financial Obligations—Six-Monthly Report, Executive Board Meeting 88/19, February 10, 1988 EBM/88/19
  Procedures for Dealing with Members with Overdue Financial Obligations to the General Department and the SDR Department, Executive Board Meeting 89/101, July 27, 1989 EBM/89/101
Other remedial measures Document Number
  Statement by the Managing Director on the Strengthened Cooperative Strategy on Overdue Financial Obligations to the Fund, Executive Board Meeting 90/38, March 16, 1990 EBM/90/38
  Summing Up by the Chairman—Operational Modalities of the Rights Approach, Executive Board Meeting 90/97, June 20, 1990 EBM/90/97
  Summing Up by the Chairman—Overdue Financial Obligations to the Fund—Six-Monthly Review; Progress Under the Strengthened Cooperative Strategy; and Special Charges—Annual Review, Executive Board Meeting 91/42, March 25, 1991 EBM/91/42
  Summing Up by the Acting Chairman—Overdue Financial Obligations to the Fund—Six-Monthly Review; Further Progress Under the Strengthened Cooperative Strategy, Executive Board Meeting 92/58, April 17, 1992 EBM/92/58
  The Acting Chairman’s Summing Up—Overdue Financial Obligations—De-Escalation of Remedial Measures Under the Strengthened Cooperative Strategy—Further Considerations, Executive Board Meeting 99/79, July 22, 1999 EBM/99/79
  Review of the Fund’s Strategy on Overdue Financial Obligations 16247-(17/69)
  Review of the Fund’s Strategy on Overdue Financial Obligations—Flexibility Under the De-Escalation Policy for Members Hit by a Qualifying Catastrophic Disaster 14725-(10/84)

ARTICLE XXX(c)
Calculation of Reserve Tranche: Exclusion of Purchases and Holdings Document Number
  Exclusion of Purchases in the Credit Tranches and Under Extended Fund Facility 6830-(81/65)
  Balances Held in Administrative Account 7060-(82/23)

ARTICLE XXX(f)
Freely Usable Currencies Document Number
  Freely Usable Currencies 11857-(98/130)

GENERAL
Trust Fund Document Number
  Trust Fund: Means of Payment of Interest by Members on Their Indebtedness Under Loan Agreements 6358-(79/188) TR
  Trust Fund: Means of Repayment by Members on Their Indebtedness Under Loan Agreements 7142-(82/85) TR

OTHER SELECTED RESOLUTIONS AND RELATED DOCUMENTS
Document Number
  A. Request for Interpretation of the Articles of Agreement as to the Authority of the Fund to Use Its Resources DN5
  B. Resolution of the United Nations General Assembly 377(V) Entitled “Uniting for Peace” DN6
  C. Composite Resolution on the Work of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues and on a Program of Immediate Action DN7
  Final Report of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues DN8
  Transformation of the Interim Committee of the Board of Governors on the International Monetary System into the International Monetary and Financial Committee of the Board of Governors DN9
  Establishment of Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries DN10
  Other Immediate Steps DN11
  Interim Committee: Rules of Procedure DN12
  Development Committee: Rules of Procedure DN13
  Development Committee: Changes in the Organization of Work and Structure of the Secretariat Function DN14

SELECTED DOCUMENTS RELATING TO THE FUND, THE UNITED NATIONS, AND OTHER INTERNATIONAL ORGANIZATIONS
  A. Agreement Between the United Nations and the International Monetary Fund DN15
  B. United Nations Convention on the Privileges and Immunities of the Specialized Agencies and Annex V DN16
  C. The International Monetary Fund and the World Trade Organization (WTO)—Fund-WTO Cooperation Agreement 11381-(96/105) A
  Decision Adopted by the General Council Concerning Agreements Between the WTO and the IMF and the World Bank at Its Meeting on 7, 8, and 13 November 1996 (WT/L/194, 18 November 1996) WT/L/194
  D. Agreement Between the International Monetary Fund and the World Trade Organization 11381-(96/105) B
  Public Disclosure of Fund Statements for the World Trade Organization 16072-(16/96)

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