Selected Decisions Annex (14th Ed)

Author: International Monetary Fund

If any installment of interest is not paid to Caisse Centrale de Cooperation Economique (CCCE) within a period of 10 days after its due date, the Trustee shall not make further drawings under this agreement pending consultations with CCCE on the matter.

Publication date: April 1989

ISBN: 9781484316634

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , SELD , amount , SDR , trustee , business day , fund , equivalent amount , borrowed resources suspense accounts - cash accounts , U , S , dollar rate , maturity date , structural adjustment , Currencies , Loans , Interest payments , Exchange rates , Market interest rates , fund's depository , fund Amending agreement

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Summary

This paper discusses several IMF’s selected decisions of the Executive Board and related documents annex to fourteenth issue. Pursuant to Section III, paragraph 2 of the Instrument to Establish the Enhanced Structural Adjustment Facility Trust, the IMF in its capacity as Trustee of that Trust, approves the agreement for borrowing from the Caisse Centrale de Cooperation Economique in terms of the draft set out in the attachment to EBS/88/62, and authorizes the Managing Director to take such action as is necessary to conclude and implement the agreement. The amount of the loan shall be the equivalent of SDR 800 million. Interest in respect of each drawing shall be paid six calendar months after the drawdown date and every six calendar months thereafter. If any amount of interest is not paid to the Bank within a period of 10 days after the due date, the Trustee shall not make further drawings or give initial or final notice of a drawing under this agreement pending consultations with the Bank on the matter.