SDRs, Currencies, and Gold [electronic resource] : Sixth Survey of New Legal Developments / Joseph Gold.
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TextSeries: Pamphlet Series; Pamphlet Series ; No. 40Publication details: Washington, D.C. : International Monetary Fund, 1983Description: 1 online resource (168 p.)ISBN: 1451974442 :ISSN: 0538-8759Subject(s): Court | Exchange Rate | Exchange Rates | Gold | Multiple Currency Practices | United StatesAdditional physical formats: Print Version:: SDRs, Currencies, and Gold : Sixth Survey of New Legal DevelopmentsOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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.
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