Article XXVI, Section 5: Special Drawing Account: Payment of Interest, Charges, and Assessments

International Monetary Fund

Author: International Monetary Fund

Language:: English

Keywords:: SELD; Fund; matter of interpretation; capital transfer; net income of the fund; exchange transaction; payment of interest; Currencies; Gold; Multiple currency practices; Credit; Exchange rates; Global; special drawing account; special drawing rights in a transaction; acquire the special drawing rights; consult the managing director; Interest payments

Abstract

Participants in the Special Drawing Account that are obligated and entitled, in accordance with Article XXVI, Section 5, to obtain special drawing rights in a transaction with the Fund conducted through the General Account in order to pay any charge or assessment, and do not wish to use gold, may use any convertible currency acceptable to the Fund in repurchases, provided that the participant has consulted the Managing Director on the currencies and the amounts of each to be used to acquire the special drawing rights.

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Selected Decisions (8th Ed)

Author: International Monetary Fund

ISBN:: 9781475544077

ISSN:: 1087-4275

Publication Date:: 10 May 1976

Publisher:: International Monetary Fund

DOI:: https://doi.org/10.5089/9781475544077.014

Pages:: 310

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