Review of the Fund's Strategy on Overdue Financial Obligations

Prepared by the Treasurer's, Policy Development and Review,
and Legal Departments (In consultation with other departments)

July 23, 2002

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Contents

Executive Summary

1. Introduction

2. Recent Developments
   

3. Progress Under the Strengthened Cooperative Strategy
   1. Progress under the Strategy and Extension of the Rights Approach
   2. Developments in Major Protracted Arrears Cases
      
      

4. Overdue Currency Valuation Adjustments

5. Proposed Decision

Text Tables

1. Overdue Financial Obligations to the Fund
2. Arrears to the Fund and Other International Financial Institutions

Text Charts

1. Evolution of Overdue Financial Obligations to the Fund,
   1980–2002
2. Overdue Financial Obligations by Country, as of June 30, 2002
3. Overdue Financial Obligations by Type, as of June 30, 2002

Appendix Tables

3. Remedial Measures Applied to countries in Protracted Arrears to the Fund
4. Overdue Financial Obligations to the Fund by Duration, 1981–2002
5. Overdue Financial Obligations to the Fund by Type, 1981–2002
6. Number of Members Incurring Late Payments to the Fund,
   1991–2002
7. Countries with Protracted Overdue Financial Obligations to the Fund, as of June 30, 2002
8. Obligations Falling Due and Payments to the Fund by Current Major Protracted Arrears Cases, 1995–2002
9. Deferred Charges of Countries with Protracted Arrears to the Fund, FY 1999–2002
10. Countries with Overdue Currency Valuation Adjustments Payable by Members, as of June 30, 2002

Annexes

1. Overdue Financial Obligations to the General Department and the SDR Department—Timetable of Remedial Measures
2. Overdue Financial Obligations to the Poverty Reduction and Growth Facility Trust—Timetable of Remedial Measures