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What is IMF Articles of Agreement?

What is IMF Articles of Agreement?

The Articles of Agreement of the International Monetary Fund were adopted at the United Nations Monetary and Financial Conference (Bretton Woods, New Hampshire) on July 22, 1944. They were originally accepted by 29 countries and since then have been signed and ratified by a total of 190 Member countries.

In which year the Articles of Agreement of IMF were changed for the first time?

December 27, 1945 Articles of Agreement enter into force upon signature by 29 governments, representing 80 percent of original quotas.

What is Article IV IMF?

[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies.

What are the Articles of agreement of the International Monetary Fund?

The Fund’s holdings of a member’s currency shall not be increased above the level at which they would be subject to charges under Article V, Section 8 ( b ) (ii), as a result of payments by other members under this provision.

When to notify the International Monetary Fund of changes?

( a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

When was the last time the Articles of agreement were amended?

Since their adoption in 1944, the Articles of Agreement have been amended seven times, with the latest amendment adopted on December 15, 2010 (effective January 26, 2016).

When did the International Monetary Fund come into force?

Classification: LCC HG3881.5.I58 I578 2020 Reprinted, March 2020 Articles of Agreement of the International Monetary Fund Adopted at the United Nations Monetary and Financial Conference, Bretton Woods, New Hamp­ shire, July 22, 1944. Entered into force December 27, 1945.