Memorandum reporting on a closed-door meeting of the International Monetary Fund on November 3, 1982 detailing criticisms of the IMF's recent $1.1 billion loan to South Africa because it did not meet the standards of conditionality that the IMF imposes on all other borrowers. Seven executive directors representing 68 countries refused to support the loan, and nine others called for a postponement. Executive directors that opposed the loan, based on the IMF's own technical criteria, are quoted extensively.
