Annex I. United Kingdom: Fund Relations
(As of May 31, 2009)
I. Membership Status: Joined 12/27/1945: Article VIII
II. General Resources Account:
|SDR Million||Percent Quota|
|Fund holdings of currency||8,618.57||80.26|
|Reserve position in Fund||2,120.02||19.74|
III. SDR Department:
|SDR Million||Percent Allocation|
|Net cumulative allocation||1,913.07||100.00|
IV. Outstanding Purchases and Loans: None
V. Financial Arrangements: None
VI. Projected Obligation to Fund: (SDR million; based on present holdings of SDRs):
VII. Exchange Rate Arrangement:
The U.K. authorities maintain a free floating regime. As of June 23, 2009 the exchange rate for sterling was $1.63. In accordance with UN resolutions and EU restrictive measures, the United Kingdom applies targeted financial sanctions under legislation relating to Al-Qaeda and Taliban, and individuals, groups, and organizations associated with terrorism; and certain persons associated with: the former Government of Iraq, the former Government of Liberia, the current Government of Burma (aka Myanmar), the former Government of the Republic of Yugoslavia and International Criminal Tribunal Indietees, the current Government of Zimbabwe, the current government of Belarus, the current government of North Korea; the current government of Iran and persons considered to be a threat to peace and reconciliation in Sudan, Cote d’Ivoire, and Democratic Republic of Congo; and persons considered by the UN to have been involved in the assassination of former Lebanese Prime Minister Rafik Hariri. These restrictions have been notified to the Fund under Decision 144–(52/51).
VIII. Article IV Consultation:
Discussions for the 2009 Article IV consultation were conducted in London during May 7–20, 2009. The Staff Report (IMF Country Report) was considered by the Executive Board on July 10, 2009.
The FSAP was completed at the time of the 2002 Article IV Consultation.
X. Technical Assistance: None
XI. Resident Representative: None