Articles of Agreement of the International Monetary Fund. Adopted at the United Nations Monetary and Financial Conference, Bretton Woods, New Hampshire, July 22, 1944. Entered into force December 27, 1945. Amended effective July 28, 1969...; amended effective April 1, 1978...; and amended effective November 11, 1992... : Adopted at the United Nations Monetary and Financial Conference, Bretton Woods, New Hampshire, July 22, 1944
Article XV Special Drawing Rights
- International Monetary Fund
- Published Date:
- September 1993
Section 1. Authority to allocate special drawing rights
To meet the need, as and when it arises, for a supplement to existing reserve assets, the Fund is authorized to allocate special drawing rights to members that are participants in the Special Drawing Rights Department.
Section 2. Valuation of the special drawing right
The method of valuation of the special drawing right shall be determined by the Fund by a seventy percent majority of the total voting power, provided, however, that an eighty-five percent majority of the total voting power shall be required for a change in the principle of valuation or a fundamental change in the application of the principle in effect.