SDRs, Currencies, and Gold: Sixth Survey of New Legal Developments
September 15, 1983
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This paper presents the sixth survey of developments in international and national monetary law and practice involving special drawing rights (SDRs), currencies, and gold. The paper highlights that a member’s currency held by the IMF in accounts other than the General Resources Account is not subject under the IMF’s Articles of Agreement to the principle of maintenance of value in terms of the SDR that applies to currency held in the IMF’s General Resources Account. The IMF has express or implied powers to invest holdings in accounts to which no obligation to maintain value is attached.
Subject: Commodities, Currencies, Exchange rate adjustments, Exchange rate arrangements, Exchange rates, Foreign exchange, Gold, Money, Multiple currency practices
Keywords: Caribbean, Currencies, currency, currency arrangement, Europe, exchange rate, Exchange rate adjustments, Exchange rates, Global, Gold, gold stock, Multiple currency practices, North America, PAM, procedure, SDR, SDR concept, Southern Africa, unit of account, use of the SDR, West Africa
Pages:
168
Volume:
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DOI:
Issue:
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Series:
Pamphlet Series, No. 40
Stock No:
P040EA0000000
ISBN:
9781451974447
ISSN:
0538-8759
Notes
English version reprinted 1985.
