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Articles of Agreement of the International Monetary Fund

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  • Introductory Article

  • Article I
    Purposes

  • Article II
    Membership

  • Article III
    Quotas and Subscriptions

  • Article IV
    Obligations Regarding Exchange Arrangements

    • Section 1 - General obligations of members
    • Section 2 - General exchange arrangements
    • Section 3 - Surveillance over exchange arrangements
    • Section 4 - Par values
    • Section 5 - Separate currencies within a member’s territories
  • Article V
    Operations and Transactions of the Fund

    • Section 1 - Agencies dealing with the Fund
    • Section 2 - Limitation on the Fund’s operations and transactions
    • Section 3 - Conditions governing use of the Fund’s general resources
    • Section 4 - Waiver of conditions
    • Section 5 - Ineligibility to use the Fund’s general resources
    • Section 6 - Other purchases and sales of special drawing rights by the Fund
    • Section 7 - Repurchase by a member of its currency held by the Fund
    • Section 8 - Charges
    • Section 9 - Remuneration
    • Section 10 - Computations
    • Section 11 - Maintenance of value
    • Section 12 - Other operations and transactions
  • Article VI
    Capital Transfers

    • Section 1 - Use of the Fund’s general resources for capital transfers
    • Section 2 - Special provisions for capital transfers
    • Section 3 - Controls of capital transfers
  • Article VII
    Replenishment and Scarce Currencies

    • Section 1 - Measures to replenish the Fund’s holdings of currencies
    • Section 2 - General scarcity of currency
    • Section 3 - Scarcity of the Fund’s holdings
    • Section 4 - Administration of restrictions
    • Section 5 - Effect of other international agreements on restrictions
  • Article VIII
    General Obligations of Members

    • Section 1 - Introduction
    • Section 2 - Avoidance of restrictions on current payments
    • Section 3 - Avoidance of discriminatory currency practices
    • Section 4 - Convertibility of foreign-held balances
    • Section 5 - Furnishing of information
    • Section 6 - Consultation between members regarding existing international agreements
    • Section 7 - Obligation to collaborate regarding policies on reserve assets
  • Article IX
    Status, Immunities, and Privileges

  • Article X
    Relations with Other International Organizations

  • Article XI
    Relations with Non-Member Countries

    • Section 1 - Undertakings regarding relations with non-member countries
    • Section 2 - Restrictions on transactions with non-member countries
  • Article XII
    Organization and Management

  • Article XIII
    Offices and Depositories

  • Article XIV
    Transitional Arrangements

  • Article XV
    Special Drawing Rights

    • Section 1 - Authority to allocate special drawing rights
    • Section 2 - Valuation of the special drawing right
  • Article XVI
    General Department and Special Drawing Rights Department

    • Section 1 - Separation of operations and transactions
    • Section 2 - Separation of assets and property
    • Section 3 - Recording and information
  • Article XVII
    Participants and Other Holders of Special Drawing Rights

  • Article XVIII
    Allocation and Cancellation of Special Drawing Rights

    • Section 1 - Principles and considerations governing allocation and cancellation
    • Section 2 - Allocation and cancellation
    • Section 3 - Unexpected major developments
    • Section 4 - Decisions on allocations and cancellations
  • Article XIX
    Operations and Transactions in Special Drawing Rights

  • Article XX
    Special Drawing Rights Department Interest and Charges

  • Article XXI
    Administration of the General Department and the Special Drawing Rights Department

  • Article XXII
    General Obligations of Participants

  • Article XXIII
    Suspension of Operations and Transactions in Special Drawing Rights

  • Article XXIV
    Termination of Participation

    • Section 1 - Right to terminate participation
    • Section 2 - Settlement on termination
    • Section 3 - Interest and charges
    • Section 4 - Settlement of obligation to the Fund
    • Section 5 - Settlement of obligation to a terminating participant
    • Section 6 - General Resources Account transactions
  • Article XXV
    Liquidation of the Special Drawing Rights Department

  • Article XXVI
    Withdrawal from Membership

    • Section 1 - Right of members to withdraw
    • Section 2 - Compulsory withdrawal
    • Section 3 - Settlement of accounts with members withdrawing
  • Article XXVII
    Emergency Provisions

  • Article XXVIII
    Amendments

  • Article XXIX
    Interpretation

  • Article XXX
    Explanation of Terms

  • Article XXXI
    Final Provisions