http://www.imf.org/external/np/exr/facts/finfac.htm
The recent decision by the members of the IMF to establish a trust fund for the benefit of the poorest countries financed by the sale of IMF gold was the second. http://www.princeton.edu/rpds/papers/WP_67.pdf
Role of gold. The Second Amendment to the Articles of Agreement in April 1978 fundamentally changed the role of gold in the international monetary system by eliminating the use of gold as the common denominator of the post-World War II exchange rate system and as the basis of the value of the Special Drawing Right (SDR). It also abolished the official price of gold and ended the obligatory use of gold in transactions between the IMF and its member countries. It furthermore required that the IMF, when dealing in gold, avoid managing its price or establishing a fixed price. http://www.imf.org/external/np/exr/facts/gold.htm
The recent decision by the members of the IMF to establish a trust fund for the benefit of the poorest countries financed by the sale of IMF gold was the second. http://www.princeton.edu/rpds/papers/WP_67.pdf
Role of gold. The Second Amendment to the Articles of Agreement in April 1978 fundamentally changed the role of gold in the international monetary system by eliminating the use of gold as the common denominator of the post-World War II exchange rate system and as the basis of the value of the Special Drawing Right (SDR). It also abolished the official price of gold and ended the obligatory use of gold in transactions between the IMF and its member countries. It furthermore required that the IMF, when dealing in gold, avoid managing its price or establishing a fixed price. http://www.imf.org/external/np/exr/facts/gold.htm
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