B.31/01: Opening of the meeting

The Board:

1. Recognizes the current extraordinary circumstances resulting from the outbreak of the Omicron variant of coronavirus disease 19 (COVID-19)in the Republic of Korea;
2. Takes note that the Co-Chairs, guided by the best interests of the Fund pursuant to paragraph 10 of the Rules of Procedure of the Board, and on an exceptional basis and in the light of such current extraordinary circumstances, decided to change the modality of the thirty-first meeting of the Board to a net-meeting;
3. Confirms that the invocation by the Co-Chairs of paragraph 10 of the Rules of Procedure of the Board was warranted on an exceptional basis and in the light of the current extraordinary circumstances; and
4. Ratifies the decision of the Co-Chairs to change the modality of the thirty-first meeting ofthe Board to a net-meeting.