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Decision XIII/4: Review of the implementation of the fixed-exchange-rate mechanism and determination of the impact of the mechanism on the operations of the Multilateral Fund for the Implementation of the Montreal Protocol and on the funding of the phase-out of ozone-depleting substances in Article 5 Parties for the triennium 2000-2002

The Thirteenth Meeting of the Parties decided in Dec. XIII/4:

Noting the interim report jointly prepared by the Treasurer and the Secretariat of the Multilateral Fund on the implementation of the fixed-exchange-rate mechanism in response to decision XI/6,

Noting that due to lack of time the report lacks information on a number of areas which the delegates raised at the 21st Meeting of the Open-ended Working Group, in particular the reviewing of the impact of purchasing power and the experience gained with fixed-exchange-rate mechanisms in other similar institutions,

With the view that the possible impact of the fixed-exchange-rate mechanism should be balanced,

  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:
    1. Consult, as appropriate, other relevant multilateral funding institutions that use a fixed-exchange-rate mechanism, or similar mechanisms;
    2. 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.