The Tenth Meeting of the Parties decided:
1. to request the Treasurer of the Multilateral Fund to prepare, in consultation with relevant institutions and Parties and in time for the nineteenth meeting of the Open-ended Working Group, a discussion paper which describes how a mechanism using fixed currency exchange rates could be implemented for the replenishment of the Multilateral Fund for the triennium 2000-2002. The paper should examine the administrative framework, the potential impact and any risks for the operation of the Fund that are associated with the adoption of such a mechanism. The paper should also include criteria for determining if a particular currency's fluctuations had been of such a magnitude that a fixed exchange rate mechanism would not be practical, in which case that country would continue to make its commitments and payments in United States dollars;
2. to request the Treasurer of the Multilateral Fund to monitor exchange rates of donor country currencies, including the Euro, between 1 March 1999 and 30 September 1999, and to submit in time for the Eleventh Meeting of the Parties a table showing the average exchange rate for each donor country currency with the United States dollar and Special Drawing Rights (SDRs) for this period.
(UNEP/OzL.Pro.10/9, Decision X/32).
The Eleventh Meeting of the Parties decided:
1. to urge Parties to pay their contributions to the Multilateral Fund promptly and in full;
2. that the purpose and objective of introducing the new mechanism is to ease some of the contributing Parties' administrative difficulties due to commitments in other than their national currencies, to promote the timely payment of contributions, and to ensure that there is no adverse impact on the level of available resources of the Multilateral Fund;
3. to direct the Treasurer to proceed with the implementation of the fixed exchange-rate mechanism on a trial basis for the replenishment (2000-2002), so that payments by contributing Parties to the Fund for the triennium commencing in 2000, can be made in accordance with this mechanism;
4. that only Parties with inflation rate fluctuations of less than 10 per cent, as per the published figures of the International Monetary Fund, for the preceding triennium will be eligible to utilize the mechanism;
5. that Parties choosing to pay in national currencies will calculate their contributions based on an average United Nations exchange rate for the six months preceding the replenishment period. Parties not choosing to pay in national currencies may continue to pay in United States dollars;
6. that the Meeting of the Parties should review the implementation of the mechanism at the end of 2001 for consideration at the technical segment of the Meeting of the Parties to determine the impact of the mechanism on the operations of the Multilateral Fund and its impact on the funding of the phase-out of ozone-depleting substances in Article 5 countries during this triennium so that the ozone-depleting substances phase-out process is not adversely affected;
7. that, in order to ensure the efficient and effective operation of the Multilateral Fund, Parties should strive to pay their contributions as early in the calendar year as possible and no later than 1 June of each year. Parties unable to make their contributions by 1 June should notify the Treasurer as to when during the calendar or fiscal year their payment will be made, but contributing Parties should strive to pay their contributions no later than 1 November of that year.
(UNEP/OzL.Pro.11/10, Decision XI/6).
The Thirty-first Meeting of the Executive Committee decided to request the Treasurer to prepare for submission to the Committee at its Thirty-second meeting a status report on the implementation of paragraph 6 of decision XI/6 of the Parties.
(UNEP/OzL.Pro/ExCom/31/61, Decision 31/1, para. 15(e)).
The Thirty-second Meeting of the Executive Committee decided:
(c) to urge Parties eligible to use the fixed exchange rate mechanism to inform the Treasurer by the Thirty-third Meeting of the Executive Committee of their intention to do so;
(e) noting the provisions of para. 7 of Decision XI/6, request Parties unable to make contributions by 1 June of the current year to notify the Treasurer of their proposed payment schedule for the current triennium by the Thirty-third Meeting of the Executive Committee.
(UNEP/OzL.Pro/ExCom/32/44, Decision 32/2, para. 13 (c, e)).
The Thirteenth Meeting of the Parties decided:
1. to request the Treasurer and the Secretariat of the Multilateral Fund to finalize the review, as per decision XI/6, and give a final report to the Parties at the 22nd Meeting of the Open-ended Working Group; and
2. that in so doing, the Secretariat should:
a. consult, as appropriate, other relevant multilateral funding institutions that use a fixed-exchange-rate mechanism, or similar mechanisms;
b. identify options on how a fixed-exchange-rate mechanism could be implemented so that the process of phasing out ozone-depleting substances is not adversely affected, and hire consultants for that purpose, as appropriate.
(UNEP/OzL.Pro/13/10, Decision XIII/4).
The Fourteenth Meeting of the Parties decided:
1. to direct the Treasurer to extend the fixed-exchange-rate mechanism for a further trial period of three years;
2. that Parties choosing to pay in national currencies will calculate their contributions based on an average United Nations exchange rate for the twelve-months preceding the replenishment period. This average will be based on the twelve-month period immediately preceding the first day of the meeting of the Parties during which the replenishment level will be decided. Subject to paragraph 3 below, Parties not choosing to pay in national currencies, pursuant to the fixed-exchange-rate mechanism, will continue to pay in United States dollars;
3. that no party should change the currency selected for its contribution in the course of the triennium period;
4. that only Parties with inflation rate fluctuations of less than 10 per cent, as per published figures of the International Monetary Fund, for the preceding triennium will be eligible to utilize the mechanism;
5. to urge Parties to pay their contributions to the Multilateral Fund in full and as early as possible in accordance with paragraph 7 of Decision XI/6;
6. to agree, if the fixed-exchange-rate mechanism is to be used for the next replenishment period, that Parties choosing to pay in national currencies will calculate their contributions based on an average United Nations exchange rate for the six-month period commencing 1 July 2004.
(UNEP/OzL.Pro.14/9, Decision XIV/40).