Selected Decisions, 19th Ed. 1994

Author: International Monetary Fund

Although the accounting practices of a member are primarily its own concern, each member should prepare its accounts in such a way that misconceptions as to the ownership of the gold and currency subscribed to the IMF would be avoided.

Publication date: June 1994

ISBN: 9781451971026

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , SELD , allocations of special drawing rights , Japanese yen , decision No , 1238 , capital transfer , SDR equivalent , Currencies , Multiple currency practices , Imports , Credit , Loans , Global , Caribbean , West Africa , Reserve assets

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Summary

This paper discusses several IMF’s selected decisions of the Executive Board and selected documents. The procedures set forth in Section IV of SM/77/277 are approved, and members shall be guided by the considerations in Section IV with respect to the prompt notification of any changes in their exchange arrangements. Once the procedures for initial notification have been clarified, only a few issues remain to be dealt with in respect of subsequent notifications. One of these is the question of what would constitute a change in an exchange arrangement requiring notification. Upon receipt of notification of a change in exchange arrangements from a member the IMF staff would circulate it to the Executive Board. If the Board wishes, it could continue to be the normal practice that whenever a change is significant, its communication to the Board would be followed promptly by a staff paper describing the context of the change in policy and giving the IMF staff's assessment.