Abstract
While this pamphlet was in the press, the subject of interpretation by the Fund came under review in the following circumstances. At its Twenty-Second Annual Meeting at Rio de Janeiro, the Board of Governors adopted a Resolution requesting the Executive Directors to proceed with their work on the establishment in the Fund of a new facility based on special drawing rights to meet the need, as and when it arises, for a supplement to existing reserve assets and on the improvements in the present rules and practices of the Fund that appeared desirable as a result of developments in world economic conditions and the experience of the Fund since its inception. The Executive Directors were asked to propose amendments to the Articles for both purposes, and they did this in April 1968. Article XVIII was among the possible modifications that the Executive Directors discussed, and they decided to propose a change in that provision.
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