ON SEPTEMBER 9, 2009 A SECOND ALLOCATION OF SDRS WILL BE GIVEN TO MEMBER COUNTRIES UNDER THE 4TH AMENDMENT OF THE IMF'S ARTICLES OF AGREEMENT
How did the Fourth Amendment special allocation of SDRs come about?
A. A special one-time allocation of SDR 21.5 billion was proposed in 1997 under what is known as the Fourth Amendment of the IMF's Articles of Agreement. It would allow members to participate equitably in the SDR system, even if they joined after previous SDR allocations (42 members have never received an allocation).
A. A special one-time allocation of SDR 21.5 billion was proposed in 1997 under what is known as the Fourth Amendment of the IMF's Articles of Agreement. It would allow members to participate equitably in the SDR system, even if they joined after previous SDR allocations (42 members have never received an allocation).
• The proposed Fourth Amendment provides for a special allocation of SDRs that will raise the ratios of members' cumulative SDR allocations quota using a common benchmark ratio as described in the amendment.
• The Fourth Amendment became effective for all members on August 10, 2009 when the Fund certified that at least three-fifths of the IMF membership (112 members) with 85 percent of the total voting power accepted it.
On August 5, 2009, the United States joined 133 other members in supporting the Amendment.
The special allocation of SDR 21.5 billion will be implemented thirty days after the effective date on September 9, 2009.
