New Agreement To Borrow Imf
(a) subject to the other provisions of this paragraph 11, the Fund reimburses the member, ten years after a transfer by a participant, in the context of an appeal under this decision, an amount corresponding to the transfer calculated in accordance with paragraph 12. When a drawer whose purchase funds were made available as part of this decision redeems at a date greater than 10 years after the acquisition, the fund reimburses the members an equivalent amount during the quarter in which the repurchase is made in accordance with paragraph 11, d). The refund referred to in paragraph 11, point (a) or paragraph 11, point (c), is made, in accordance with Article 11, paragraph 11, point (c), in the currency borrowed from the participant`s currency as far as possible, in special drawing rights of an amount that does not increase the participation in the special drawing rights beyond the limit set out in Article XIX , Section 4 of the items, unless the participant agrees: , to accept special drawing rights above this limit at the time of this refund. (a) Where a member or institution is authorized to comply with this decision in accordance with paragraph 3, point b), the total amount of credit contracts may be increased by the Fund with the agreement of the participants, who represent 85% of the total credit agreements; the increase must not exceed the amount of the new member`s credit agreement. The terms of the 2016 credit contracts between the IMF and 40 members are now in effect until the end of 2020, after the IMF`s board of directors agrees and the 40 creditors agree to extend the terms of their respective agreements by one year. (viii) a “drawer,” a member who buys money borrowed from the fund as part of an exchange, including an exchange transaction as part of a stand-by or extension agreement; The Fund`s Policies and Practices under Article V, Sections 3 and 7, articles relating to the use of its general resources, including those relating to the period of use, apply to purchases of foreign currency borrowed by the Fund. This decision does not affect the Fund`s authority to use its resources by individual members, and members` access to these resources is determined by the Fund`s policies and practices and does not depend on the Fund`s ability to borrow under this decision.