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International Monetary Fund

Abstract

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 189 Member countries. As the charter of the organization, the Articles lay out the Fund’s purposes, which include the promotion of “international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems”. The Articles also establish the mandate of the Organization and its members’ rights and obligations, its governance structure and roles of its organs, and lays out various rules of operations including those related to the conduct of its operations and transactions regarding the Special Drawing Rights. The key functions of the IMF are the surveillance of the international monetary system and the monitoring of members’ economic and financial policies, the provision of Fund resources to member countries in need, and the delivery of technical assistance and financial services. 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). The Articles are complemented by the By-laws of the Fund adopted by the Board of Governors, themselves being supplemented by the Rules and Regulations adopted by the Executive Board.

International Monetary Fund

Abstract

This paper explains purposes and functions of various articles of the IMF. The original members of the IMF are those of the countries represented at the United Nations Monetary and Financial Conference whose governments accept membership before December 31, 1945. The articles describe that the Board of Governors at intervals of not more than five years are expected to conduct a general review, and if it deems it appropriate propose an adjustment, of the quotas of the members. Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth, and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, each member undertakes to collaborate with the IMF and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates.

International Monetary Fund

Abstract

Articles of Agreement December 2004

International Monetary Fund

Abstract

Articles of Agreement December 2004

International Monetary Fund

Abstract

Esta edición, revisada en 1993, incluye la Tercera Enmienda del Convenio Constitutivo. Reeditado en diciembre de 2004. Reeditado en enero de 2008 (200 copias)

International Monetary Fund

Abstract

Révisée en 1993, cette édition incorpore le troisième amendement des statuts. Réimprimée en décembre 2004. Réimprimée en janvier 2008 (200 exemplaires).

International Monetary Fund

Abstract

This paper discusses the voting majorities prescribed by the Second Amendment of the Articles for the adoption of decisions by the IMF. The IMF is an international organization in which member states do not have the same voting power. Under the original Articles of Agreement, each member had 250 basic votes and one additional vote for each part of its quota equivalent to 100,000 U.S. dollars of fixed gold value, namely, dollars of the weight and fineness in effect on July 1, 1944. The same formula will apply after the second amendment becomes effective, except that the special drawing right, as the IMF’s unit of account, will be substituted expressly for the U.S. dollar of 1944.

International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.