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Arab Monetary Fund Articles Of Agreement

The Fund can see, by a majority of 85% of the total votes, that international economic conditions allow the introduction of a generalized system of exchange agreements on the basis of stable but adjustable values. The Fund adopts the provision on the basis of the underlying stability of the global economy and takes into account price movements and growth rates in member economies. This provision is taken into account in taking into account developments in the international monetary system, particularly with regard to sources of liquidity, and, in order to ensure the proper functioning of a balanced system, agreements under which both surplus and deficit members in their balances of payments take immediate, effective and symmetrical measures to achieve adjustment. , as well as rules for intervention and treatment of imbalances. In this case, the Fund informs members that the Schedule C provisions apply. 1. If the remaining commitment to be pending after the imposition pursuant to Article XXIV, point b), is notified to the terminating participant and if the agreement on liquidation between the Fund and the terminating member is not reached within six months of the termination date, the Fund terminates this balance of special drawing rights in equal semi-annual tranches within a maximum of five years from the closing date. The Fund maintains this balance, as it determines: (a) by paying the terminated member the sums made available by other fund participants in accordance with Article XXIV, Section 5, or (b) by allowing the terminating subscriber to use his special drawing rights to obtain his own currency or currency freely usable from a participant designated by the Fund. , the general resource account or another owner. The main objectives of the Arab Monetary Fund are the correction and balance of payments of its Member States, the removal of payment restrictions between members, the improvement of Arab monetary cooperation, the promotion of the development of Arab financial markets (which paves the way for a single Arab currency) and the facilitation and promotion of trade between Member States.


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