Article XVIII, Section 2
- International Monetary Fund. Legal Dept.
- Published Date:
- September 2019
Allocation of Special Drawing Rights
Allocation of Special Drawing Rights for the Ninth Basic Period
WHEREAS the Managing Director has submitted a proposal for the allocation of special drawing rights pursuant to Article XVIII, Section 4(c) of the Articles of Agreement of the International Monetary Fund;
WHEREAS in the Report containing his proposal, the Managing Director has declared that, before making the proposal, he had satisfied himself that the proposal would be consistent with the provisions of Article XVIII, Section 1(a), and that, after consultation, he has ascertained that there is broad support among participants for the proposal; and
WHEREAS the Executive Board, in accordance with Article XVIII, Section 4(a), has concurred in the proposal of the Managing Director;
NOW, THEREFORE, the Board of Governors, being satisfied that the proposal of the Managing Director meets the principles governing the allocation of special drawing rights set forth in Article XVIII, Section 1(a), hereby resolves that:
1. The Fund shall make an allocation of special drawing rights to participants in the Special Drawing Rights Department that are eligible, in accordance with the Articles of Agreement, to receive allocations during the ninth basic period.
2. The allocation shall be made on the twenty-first day following the date on which this resolution becomes effective.
3. The rate for the allocation shall be 74.1309799813 percent of the quota of each eligible participant on the date on which this resolution becomes effective.
effective August 7, 2009.