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What Are The Articles Of Agreement Of The International Monetary Fund


After the date of termination, the Fund shall pay interest on the outstanding balance of the Special Drawing Rights in respect of a departing Participant and the terminating Participant shall pay the fees for all outstanding obligations due to the Fund at the times and at the rates set out in Article XX. Payment shall be made in special drawing rights. A terminating Participant shall have the right to receive Special Drawing Rights in a freely usable currency in order to pay fees or investments in a transaction with a Participant designated by the Fund or by agreement of another holder, or to dispose of Special Drawing Rights received as interest on a transaction with a Participant designated under Article XIX; Section 5 or by agreement with another holder. Members may carry out such controls as are necessary to regulate the international movement of capital, but no Member may exercise such controls in a manner that restricts payments for current transactions or unreasonably delays transfers of funds for the performance of obligations, except in the cases provided for in Article VII(3)(b), and article XIV, section 2. 4. If a Member has not reached an agreement with the Fund within the three-month period referred to in point 3, the Fund shall use the currencies of the other Members allocated to that Member in accordance with point 2(d) to redeem the currency of that Member allocated to the other Members. Any currency granted to a Member that has not reached an agreement shall be used as far as possible to redeem its currency, which shall be exchanged to Members which have concluded agreements with the Fund in accordance with Article 3.