Chapter

SDRs and the negotiation of the Second Amendment to the Fund's Articles of Agreement

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs)

Published in print November 2011 | ISBN: 9780199606467
Published online January 2012 | e-ISBN: 9780191731648 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199606467.003.0006
SDRs and the negotiation of the Second Amendment to the Fund's Articles of Agreement

More Like This

Show all results sharing this subject:

  • Macroeconomics and Monetary Economics

GO

Show Summary Details

Preview

The Second Amendment to the IMF Articles of Agreement (the Jamaica Agreement) did much more than simply legalize the floating exchange rate system. Of fundamental importance were decisions to accommodate a much greater role for SDRs in the future that were also incorporated in the new Articles. The legacy of the Second Amendment continues to facilitate this greater role today and this accomplishment is another example of a hitherto neglected legacy for SDRs. This is a relatively neglected but fundamentally important development in the history of SDRs.

Keywords: Jamaica Agreement/Second Amendment to the IMF Articles of Agreement; Gold substitution account; Reconstitution provision; Legalized floating exchange rate system; Independence of International Monetary Fund

Chapter.  17624 words. 

Subjects: Macroeconomics and Monetary Economics

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.