Press Release: Republic of Tajikistan Accepts Article VIII Obligations
March 10, 2005
The government of the Republic of Tajikistan has notified the International Monetary Fund (IMF) that it has accepted the obligations of Article VIII, Sections 2, 3 and 4 of the IMF's Articles of Agreement, with effect from December 9, 2004.
By Article VIII, Sections 2, 3 and 4, IMF members undertake not to impose restrictions on the making of payments and transfers for current international transactions, and not to engage in, or permit any of their fiscal agencies to engage in, any discriminatory currency arrangement or multiple currency practice, except with IMF approval.
A total of 164 of the IMF's 184 members have now accepted the obligations of Article VIII, Sections 2, 3 and 4.
By accepting the obligations of Article VIII, Sections 2, 3 and 4, the Republic of Tajikistan signals to the international community that it will pursue economic policies which will make restrictions on the making of payments and transfers for current international transactions unnecessary, and will contribute to a multilateral payments system free of restrictions.
The Republic of Tajikistan joined the IMF on April 27, 1993. Its quota1 is SDR 87.0 million (about US$133.9 million).
1 A members' quota in the IMF determines, in particular, the amount of its subscription, its voting weight, its access to IMF financing and its share of the allocation of Special Drawing Rights.