14. Borrowing Agreements

International Monetary Fund

Author: International Monetary Fund

Language:: English

Keywords:: PAM; board of governors action; exchange control regulation; exchange resource; Karlsruhe court; exchange contract; fund practice; General arrangement; fund's indebtedness; former member; indebtedness of the fund; Currencies

Abstract

In recent years borrowing has been added to the categories of the financial operations engaged in by the Fund. Under Article VII, Section 2, if the Fund deems it appropriate to replenish its holdings of a member’s currency, it may agree to borrow that currency from the member itself or, with the approval of the member, from some other source either within or outside the territories of the member. No member is under any obligation to lend to the Fund or to approve a borrowing by the Fund from any other source.87

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Interpretation by the Fund

Author: International Monetary Fund

ISBN:: 9781451939118

ISSN:: 0538-8759

Publication Date:: 01 Jan 1968

Publisher:: International Monetary Fund

DOI:: https://doi.org/10.5089/9781451939118.054

Pages:: 76

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