Agreement Exchange

The Fund can see, by a majority of 85% of the total votes, that international economic conditions allow the introduction of a generalized system of exchange agreements on the basis of stable but adjustable values. The Fund adopts the provision on the basis of the underlying stability of the global economy and takes into account price movements and growth rates in member economies. This provision is taken into account in taking into account developments in the international monetary system, particularly with regard to sources of liquidity, and, in order to ensure the proper functioning of a balanced system, agreements under which both surplus and deficit members in their balances of payments take immediate, effective and symmetrical measures to achieve adjustment. , as well as rules for intervention and treatment of imbalances. In this case, the Fund informs members that the Schedule C provisions apply. Where a member is authorized, under this agreement, to maintain or set restrictions on foreign exchange transactions in the particular or temporary circumstances covered by this agreement, and if there are other obligations between members that were contracted prior to this agreement and are contrary to the application of such restrictions, the parties consult with each other to make the mutually acceptable accommodations that are necessary. The provisions of this section apply without prejudice to the application of Section 5 of Article VII. The money the Fund receives from a resilient participant is used by the Fund to exchange special drawing rights held by participants in proportion to the amount of each participant`s participation in special drawing rights at the time the Fund receives the coin for its cumulative net allocation. Special drawing rights thus collected and special drawing rights received by a participant terminate, in accordance with the provisions of this agreement, in order to satisfy any waterproofing agreement or scheduleD rates due and charged at this rate are void. (1) Accounts are counted against the general resource account after 1 to 6 of this list. The Fund is required to pay a member an amount equal to its quota, plus all amounts incurred by the Fund, less money incurred in the Fund, including costs incurred after the date of departure; However, payment is not made until six months after the date of withdrawal.