Selected Decisions and Selected Documents of the IMF, Thirty- Ninth Issue -- Payment of Net Charges and Assessment in the SDR Department for the Financial Year Ended April 30, 1982
Prepared by the Legal Department of the IMFAs updated as of March 31, 2017
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ARTICLE XX, SECTION 2 | ||||
Charges | ||||
PAYMENT OF NET CHARGES AND ASSESSMENT IN THE SDR DEPARTMENT FOR THE FINANCIAL YEAR ENDED APRIL 30, 1982 The Executive Board notes the course of action set out in EBS/82/80. Decision No. 7116-(82/68) S, May 7, 1982 EBS/82/80 The problems arising out of these participants’ failure to hold adequate SDRs or to acquire them from other participants or the Fund, to meet net charges and assessments have been dealt with as follows:
… The course of action outlined above follows from the application of the Articles of Agreement and was adopted in 1978 when one participant did not hold sufficient special drawing rights to pay the assessment and charges due with respect to the financial year ending April 30, 1978. While the procedure has already been adopted by the Executive Board for the situation described, it is considered appropriate that the Executive Board again note the course of action taken. | ||||
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