A Framework for the Fund's Issuance of Notes to the Official Sector

June 17, 2009

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A Framework for the Fund's Issuance of Notes to the Official Sector, (USA: International Monetary Fund, 0) accessed November 23, 2024

Summary

On July 1, 2009, the Executive Board of the International Monetary Fund discussed the Managing Director's proposal for a framework for issuing notes to the official sector. The framework approved by the Executive Board was adapted on the basis of these discussions, as reflected in supplement 2 of the paper. It enables members to invest in IMF paper under note purchase agreements approved by the Board, without any pre-specified limit on the cumulative amount committed under note purchase agreements. The actual issuance of notes will occur should the IMF need additional resources at the time of a loan disbursement to a member. The notes would have similar financial terms to the IMF’s recent bilateral borrowing agreements.

Subject: Article VII, Section 1(i), Borrowed resources use, Borrowing by Fund, External financing, Financial instruments, Fund approval proposed, Fund general resources, Holdings of Fund, New Arrangements to Borrow, Real sector

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