Articles of Agreement of the International Monetary Fund. Adopted at the United Nations Monetary and Financial Conference, Bretton Woods, New Hampshire, July 22, 1944. Entered into force December 27, 1945. Amended effective July 28, 1969...; amended effective April 1, 1978...; and amended effective November 11, 1992... : Adopted at the United Nations Monetary and Financial Conference, Bretton Woods, New Hampshire, July 22, 1944

International Monetary Fund

• Publisher: INTERNATIONAL MONETARY FUND
• Year: 1993
• eBook ISBN: 9781557752765

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INDEX

Accounts (see also General Resources Account: Investment Account; Special Disbursement Account):

Audited statements, annual, Art. XII, Sec. 7(a)

Names of, Introd. Art.

Settlement with withdrawing members, Art. XXVI, Sec. 3; Sched. J

Adjustment process, Art. IV, Sec. 4; Art. XVIII, Sec. 1 (b); Sched. D, par. 2(a)

Agencies of members dealing with Fund, Art. V, Sec. 1

Alternates; see Board of Governors; Councillors; Executive Directors

Amendments:

Acceptance by all members in certain cases, Art. XXVIII(b)

Arrangements with other international organizations which necessitate amendments, Art. X

Consideration of proposals by Council, Sched. D, par. 2(b)

Entry into force, Art. XXVIII(c)

Proposal, Art. XXVIII(a)

Rules and regulations, rates, procedures and decisions in effect at date of second amendment to remain until changed, Sched. B, par. 6

Suspension of participation in adoption of proposed amendment, Sched. L, par. 1

Voting power required for acceptance, Art. XXVIII(a), (b)

Annual Report; see Reports

Arbitration:

Disagreement arising during liquidation of Fund or upon withdrawal of member, Art. XXIX(c)

Disagreement arising from termination of participation in Special Drawing Rights Department or during liquidation of that Department, Art. XXI(d)

Archives of Fund, immunity, Art. IX, Sec. 5

Articles of Agreement (see also Amendments; Interpretation of the Agreement):

Acceptance, Art. IV, Sec. 5(a); Art. XXXI, Sec. 2(a), (b), (g)

Advice to all members by Government of United States of signatures to Agreement and deposit of instruments of acceptance, Art. XXXI, Sec. 2(c)

Entry into force, Art. XXXI, Sec. 1

Instruments of acceptance to be deposited with Government of the United States, Art. XXXI, Sec. 1, 2(a)

Signature, Art. XXXI, Sec. 2

Assessments for expenses of conducting business of Special Drawing Rights Department:

Levy by Fund, Art. XX, Sec. 4

Payment in special drawing rights, Art. XVI, Sec. 2

Settlement on termination of participation in Special Drawing Rights Department, Art. XXIV, Sec. 2

Assets of Fund (see also Investment of Fund’s assets; Reserves of Fund):

Certain proceeds from sale of gold for benefit of developing countries to be held separately from general resources of Fund, Sched. B, par. 7

Distribution in event of liquidation of Fund, Sched. K

Freedom from restrictions, Art. IX, Sec. 6

Guarantee by each member, Art. XIII, Sec. 3

Holdings in depositories, Art. XIII, Sec. 2

Immunity, Art. IX, Sec. 3, 4, 6, 9(a)

Maintenance of value, Art. V, Sec. 11

Separation of assets held in General Department and Special Drawing Rights Department, Art, XVI, Sec. 2

Separation of assets in Special Disbursement Account from other accounts in General Department, Art, V, Sec. 12(f)

Separation of assets of Investment Account from other accounts of General Department, Art. XII, Sec. 6(f)(i)

Value expressed in special drawing rights, Art. V, Sec. 10

Associates of the Council, Sched. D, par. 1(a), (b), 5(d)

Audit: see Accounts

Balance of payments:

Adjustment, action by members to achieve, Art, IV, Sec. 4

Adjustment, supervision by Council, Sched. D, par. 2(a)

Criterion for designation of participant to provide currency for special drawing rights, Art. XIX, Sec. 5(a)(i)

Furnishing of information concerning, Art. VIII, Sec. 5(a)(vi)

Improvement, repurchase obligation, Art. V, Sec. 7(b)

Publication of report to member on conditions tending to produce serious disequilibrium in international balance of payments, Art. XII, Sec. 8

Purpose of Fund to correct maladjustments and lessen disequilibrium, Art. I(v), (vi)

Requirement of need for purchase of currencies of members, Art, V, Sec. 3(b)(ii)

Requirement of need for use of special drawing rights, Art. XIX, Sec. 3(a)

Special policies for special balance of payments problems, Art. V, Sec. 3(a)

Taken into account in first decision to allocate special drawing rights, Art. XVIII, Sec. 1(b)

Taken into account in selection of currencies to be sold, Art. V, Sec. 3(d)

Withdrawal of exchange restrictions by members when balance of payments is satisfactory, Art. XIV, Sec. 2

Basic periods for allocation and cancellation of special drawing rights; see Special drawing rights

Board of Governors (see also Governors):

Adoption of regulations for member not entitled to appoint Executive Director to send representative to attend Executive Board meeting, Art. XII, Sec. 3(j)

Allocation and cancellation of special drawing rights, decisions on, Art. XVIII, Sec. 4(a), (c), (d)

Alternate Governors, appointment by members, Art. XII, Sec. 2(a)

Appointment by members, Art. XII, Sec. 2(a)

Approval of amendments to Articles of Agreement, Art. XXVIII(a), (b)

Authority to increase or decrease number of Executive Directors to be elected, Art. XII, Sec. 3(b)

Cessation of office after suspension of voting rights, Sched. L, par. 3(a)

Chairman, selection, Art. XII, Sec. 2(a)

Committee on Interpretation, Art. XXI(c): Art. XXIX(b)

Committees, Art. XII, Sec. 2(j)

Compulsory withdrawal of members by decision of, Art. XXVI, Sec. 2(c)

Consistency of Council’s or Executive Board’s actions with Board of Governors’ actions, Sched. D, par. 3(c)

Decision not to have number of elected directors reduced when Art. XII, Sec. 3(c) applies, Art. XII, Sec. 3(b)

Decision to establish Council, Art. XII, Sec. 1

Decisions on matters pertaining exclusively to Special Drawing Rights Department, Art. XXI(a)(i)

Delegation of authority to Council, Sched. D, par. 3(a)

Delegation of authority to Executive Board, Art. XII, Sec. 2(b)

Determination of quotas of members, Art. III, Sec. 1

Determination of remuneration paid to Executive Directors and their Alternates, Art. XII, Sec. 2(i)

Determination of salary and terms of service contract of Managing Director, Art. XII, Sec. 2(i)

Election of Executive Directors, Art. XII, Sec. 3(b), (d); Sched. E

Expenses incurred in attending meetings, Art. XII, Sec. 2(h)

General review of quotas and adjustments of quotas, Art. III, Sec. 2(a)

Immunities, Art. IX, Sec. 8

Initial subscription payments transmitted to, Art. XXXI, Sec. 2(d)

Interpretation of Fund Agreement, Art. XXIX(b)

Interpretation pertaining exclusively to Special Drawing Rights Department, Art. XXI(c)

Liquidation of Fund, decision, Art. XXV(a): Art XXVII, Sec. 2(a), (b)

Liquidation of Special Drawing Rights Department, decision, Art. XXV(a), (b)

Meetings, Art. XII, Sec. 2(c); Art. XXI(a)(i)

Number of votes of each Governor, Art. XII, Sec. 2(e)

Powers, Art. XII, Sec. 2(a), (b); Sched. D, par. 6

Prescription for payment of 2...

Table of contents

• Cover Page
• Title Page
• Copyright Page
• Content Page
• Introductory Article
• I. Purposes
• II. Membership
• III. Quotas and Subscription
• IV. Obligations Regarding Exchange Arrangements
• V. Operations And Transactions Of The Fund
• VI. Capital Transfers
• VII. Replenishment And Scarce Currencies
• VIII. General Obligations Of Members
• IX. Status, Immunities, And Privileges
• X. Relations With Other International Organizations
• XI. Relations With Non-Member Countries
• XII. Organization And Management
• XIII. Offices And Depositories
• XIV. Transitional Arrangements
• XV. Special Drawing Rights
• XVI. General Department And Special Drawing Rights Department
• XVII. Participants And Other Holders Of Special Drawing Rights
• XVIII. Allocation And Cancellation Of Special Drawing Rights
• XIX. Operations And Transactions In Special Drawing Rights
• XX. Special Drawing Rights Department Interest And Charges
• XXI. Administration Of The General Department And The Special Drawing Rights Department
• XXII. General Obligations Of Participants
• XXIII. Suspension Of Operations And Transactions In Special Drawing Rights
• XXIV. Termination Of Participation
• XXV. Liquidation Of The Special Drawing Rights Department
• XXVI. Withdrawal From Membership
• XXVII. Emergency Provisions
• XXVIII. Amendments
• XXIX. Interpretation
• XXX. Explanation Of Terms
• XXXI. Final Provisions
• Schedules
• A. Quotas
• B. Transitional Provisions With Respect To Repurchase, Payment Of Additional Subscripmons, Gold, And Certain Operational Matters
• C. Par Values
• D. Council
• E. Election Of Executive Directors
• F. Designation
• G. Reconstitution
• H. Termination Of Participation
• I. Administration Of Liquidation Of The Special Drawing Rights Department
• J. Settlement Of Accounts With Members Withdrawing
• K. Administration Of Liquidation
• L. Suspension Of Voting Rights
• Index