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International Monetary Fund

Section 1. Principles and considerations governing allocation and cancellation ( a ) In all its decisions with respect to the allocation and cancellation of special drawing rights the Fund shall seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world. ( b ) The first decision to allocate special drawing rights shall take into account, as special

International Monetary Fund

Section 1. Principles and considerations governing allocation and cancellation ( a ) In all its decisions with respect to the allocation and cancellation of special drawing rights the Fund shall seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world. (b) The first decision to allocate special drawing rights shall take into account, as special

International Monetary Fund

Section 1. Principles and considerations governing allocation and cancellation ( a ) In all its decisions with respect to the allocation and cancellation of special drawing rights the Fund shall seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world. ( b ) The first decision to allocate special drawing rights shall take into account, as special

International Monetary Fund

Section 1. Principles and considerations governing allocation and cancellation (a) In all its decisions with respect to the allocation and cancellation of special drawing rights the Fund shall seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world. (b) The first decision to allocate special drawing rights shall take into account, as special

International Monetary Fund

Section 1. Principles and considerations governing allocation and cancellation ( a ) In all its decisions with respect to the allocation and cancellation of special drawing rights the Fund shall seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world. ( b ) The first decision to allocate special drawing rights shall take into account, as special

International Monetary Fund
This report is submitted pursuant to the provisions of the Articles of Agreement regarding a general allocation or cancellation of Special Drawing Rights (SDR) for the Twelfth Basic Period that begins on January 1, 2022. The Articles of Agreement provide for periodic consideration and decisions on SDR allocations or cancellations in the context of consecutive basic periods of normally five years of duration (Article XVIII, Section 2(a)). Pursuant to Article XVIII, Section 4(c)(i), the Managing Director must make a proposal to the Board of Governors no later than six months before the end of each basic period regarding a general allocation or cancellation in the next basic period. The Eleventh Basic Period for a general allocation or cancellation of SDRs began on January 1, 2017 and is scheduled to end on December 31, 2021. The Twelfth Basic Period will commence on January 1, 2022.
International Monetary Fund
This report is submitted pursuant the provisions of the Articles of Agreement relating to a general allocation or cancellation of Special Drawing Rights (SDR). The Articles provide for periodic consideration and decisions on SDR allocations or cancellations in the context of consecutive basic periods of normally five years of duration (Article XVIII, Section 2(a)). The Tenth Basic Period for a general allocation or cancellation of SDRs began on January 1, 2012 and is scheduled to end on December 31, 2016. The Eleventh Basic Period will commence on January 1, 2017.
International Monetary Fund

1. For the purposes of Rule P-2 and without prejudice to any future decisions on allocations or cancellations of special drawing rights, it shall be assumed that an allocation of special drawing rights will be made on January 1, 1972, in accordance with Board of Governors Resolution No. 24-12, and that no allocations or cancellations will be made thereafter. This assumption shall be subject to review at any time and shall be reviewed not later than December 31, 1972. 2. Pursuant to Article XXV, Section 2(b ) (ii), the Fund prescribes that a participant