An attempt shall be made to establish a procedure for payments to
fellows which would permit them to obtain the required funds without any
infractions of exchange regulations.
In this connection, United Nations practices and the policy
established for paying local employees of the Offices of the General
Secretariat in the Member States shall be taken into account."
the following measures are hereby adopted:
Payment of subsistence allowances to fellows shall be made in the
local currency of every country in which experience indicates that there
are or might in the future be variations in exchange rates, and of every
other country in which the Organization holds substantial amounts of the
The Department of Program-Budget and Financial Services, the
Office of Coordination of Activities in Member States, and the Office of
Fellowships and Training shall jointly determine those countries in
which the payment of subsistence should be made in local currency. Such
determination shall be submitted to the Secretary General for approval.
Payments shall be made by the Offices of the General Secretariat
in Member States by check in local currency, in accordance with the
procedure established in Financial and Accounting Field Procedure No.
11. When issuing drafts to
transfer funds to a local bank, the name of the bank to which funds are
being transferred shall be placed in the section of the form
corresponding to the beneficiary, and the pink copy of the draft shall
have as attachments the deposit voucher and the liquidation of funds.
The account number will not be
changed; 01-71-91 shall he utilized.
the government's contributions are paid in local currency, the Office
shall deposit the funds in the local bank and immediately notify the
Cashier Unit at headquarters. These
deposits shall he shown on Form 313, Annex No. 1 "Estado de Fondos
Disponibles y Conciliaci�n Bancaria," indicating the origin and
the purpose of the deposit. Insofar as possible, these funds shall be
used to meet expenses in local currency.
So that the fellowship holder may have the means to return to his
country of origin, it shall be the general policy to make the last
monthly subsistence payment in United States dollars.
Payment of subsistence in local currencies shall be periodically
reviewed by the Department of Program‑Budget and Financial
Services, in coordination with the Office of Fellowships and Training
and the Office of Coordination of Activities in Member States; any
change adopted shall be submitted to the Secretary General for approval.
Fellowship announcements and the financial requirements form (OAS
Form 111) shall clearly indicate in all instances that the Organization
reserves the right to make disbursements in local currency at the
exchange rate effective on the date of payment.