Selected Decisions, 20th Ed. 1995 (Annex) November 30, 1995

Author: International Monetary Fund

The IMF, in its capacity as Trustee of that Trust, approves the agreement for borrowing from the Government of Canada in terms of the draft agreement set out in the attachment and authorizes the Managing Director to take such action as is necessary to conclude and implement the agreement.

Publication date: November 1995

ISBN: 9781451970593

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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 , structural adjustment , agreement-loan account-suspension , account-suspension of drawing , equivalent amount , trustee of the ESAF Trust , Interest payments , Currencies , Virtual currencies , Loans , Administration in revenue administration

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Summary

This paper discusses enhanced structural adjustment facility trust—borrowing agreement. The Trustee may make drawings under this agreement at any time during the period from the effective date of this agreement through December 31, 1999, upon giving the Government of Canada at least five business days (Washington, D.C.) notice. If any instalment of principal or interest is not paid to the Government of China within a period of 10 days after its due date, the Trustee shall not make further drawings under this agreement pending consultations with the Government of China on this matter. Upon request, the Trustee shall issue to the Government of China a non-negotiable certificate evidencing its claim on the Trust resulting from a drawing outstanding under this agreement. By agreement between the Government of China and the Trustee, any drawing or part thereof may be repaid by the Trustee at any time in advance of maturity.