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Cover Allocation of special drawing rights for the first basic period
Allocation of special drawing rights for the first basic period
Proposal by the Managing Director
International Monetary Fund

Abstract

The adequacy of international liquidity became a problem of increasing concern to the international community during the 1960's. In response, the IMF proposed a new facility, based on Special Drawing Rights, which took effect on October 3, 1969. This new facility, referred to in this publication, was established within the Fund as its Special Drawing Account, through which the new supplement to reserve assets, in the form of special drawing rights, could be allocated.

Keywords:
MISC RPT; MISC; allocation; allocation of special drawing rights; rate; percentage rate; proposals of the managing director; resolution of the board of governors; proposal of the managing director; quota total; Adjustment process; Credit; Capital flows; Reserve assets; Public expenditure review; Global; cancellation of special drawing rights; Reserve positions