Article III, Section 3
Author:
International Monetary Fund
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Language:
English
Print Publication Date:
01 Apr 1970
Keywords:
SELD; transaction; exchange transaction; matter of interpretation; decision No. 1238; capital transfer; payment of interest; Currencies; Gold; Multiple currency practices; Exchange rates; Currency convertibility; Africa; holdings of gold; gold payment; dollar balance; earmarked gold; looted gold; Gold reserves

Abstract

The following principles should be observed by members in reflecting their participation in the Fund in their accounts:(1) Gold and currency subscribed to the Fund are clearly within its unrestricted ownership. They do not belong in any way to the subscriber.(2) Although the accounting practices of a member are primarily its own concern, each member should prepare its accounts in such a way that misconceptions as to the ownership of the gold and currency subscribed to the Fund would be avoided. . . . . . . . . . . .

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Cover Selected Decisions (4th Ed)
Selected Decisions (4th Ed)
ISBN:
9781484328071
ISSN:
1087-4275
Publication Date:
01 Apr 1970
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781484328071.014
Pages:
203