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International Monetary Fund. Legal Dept.

Restrictions on Payments and Transfers: Withdrawal Meaning of “In Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 1 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into

International Monetary Fund. Legal Dept.

Restrictions on Payments and Transfers: Withdrawal Meaning of “In Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 1 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into

International Monetary Fund

Restrictions on Payments and Transfers: Withdrawal Meaning of “Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into

International Monetary Fund

Restrictions on Payments and Transfers: Withdrawal M eaning of “E xceptional C ircumstances ” in A rticle XIV, S ection 4 1 The following language in Article XIV, Section 4* of the Fund Agreement: The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement. (a) applies at any time after

International Monetary Fund

Meaning of “Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into force of the Fund Agreement and (b) gives to the Fund the

International Monetary Fund

Restrictions on Payments and Transfers: Withdrawal Meaning of “Exceptional Circumstances” In Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.* (a) applies at any time after the entry into force

International Monetary Fund

Meaning of “Exceptional Circumstances” in Article XIV, Section 4 * The following language in Article XIV, Section 4 * of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement”. (a) applies at any time after the entry into force of the Fund Agreement and (b) gives to the

International Monetary Fund

Meaning of “Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into force of the Fund Agreement and (b) gives to the Fund

International Monetary Fund

Meaning of “Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: “The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into force of the Fund Agreement and (b) gives to the

International Monetary Fund

Meaning of “Exceptional Circumstances” in Article XIV, Section 4 The following language in Article XIV, Section 4 of the Fund Agreement: ’The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other article of this Agreement.” (a) applies at any time after the entry into force of the Fund Agreement and (b) gives to the Fund