Allocation of Special Drawing Rights for the Eleventh Basic Period—Executive Board Decision and Managing Director Report to the Board of Governors

• 1. The Executive Board concurs in the proposal by the Managing Director for an allocation of Special Drawing Rights for the Eleventh Basic Period, which, together with a proposed Board of Governors’ Resolution, is set forth in the Report attached to this decision entitled “Proposal by the Managing Director of the International Monetary Fund for an Allocation of Special Drawing Rights for the Eleventh Basic Period.”

  2. Pursuant to Article XVIII, Section 2(d), a member that has become a participant in the Special Drawing Rights Department between January 1, 2017 and the day prior to the date of the allocation proposed pursuant to paragraph 1 of this decision, and has informed the Fund that it wishes to receive such allocation, shall receive an allocation in accordance with the proposed Resolution of the Board of Governors approving the allocation.

  3. The Secretary is authorized and directed to send to each member of the Fund by rapid means of communication the Report and the proposed Resolution referred to in paragraph 1 of this decision.

  4. The Board of Governors is requested, pursuant to Section 13 of the By-Laws, to vote on the proposed Resolution without meeting. To be valid, votes must be cast by Governors or Alternate Governors by rapid means of communication and must be received at the seat of the Fund before 6:00 p.m., Washington time, on or before August 2, 2021. Votes received after that time will not be counted.

  5. All votes cast pursuant to this decision shall be held in the custody of the Secretary until counted, and all proceedings with respect thereto shall be confidential until the Executive Board determines the result of the vote.

  6. The effective date of the Resolution of the Board of Governors shall be the last day allowed for voting.

  7. The Secretary is authorized to take such further action as he shall deem necessary or appropriate in order to carry out the purposes of this decision. (SM/21/124, 07/01/21)

Decision No. 17078-(21/70),

July 8, 2021

Resolution 76-1

Allocation of Special Drawing Rights for the Eleventh Basic Period

Whereas the Managing Director has submitted a proposal for the allocation of Special Drawing Rights pursuant to Article XVIII, Section 4(c) of the Articles of Agreement of the International Monetary Fund;

Whereas in the Report containing her proposal, the Managing Director has declared that, before making the proposal, she had satisfied herself that the proposal would be consistent with the provisions of Article XVIII, Section 1(a), and that, after consultation, she has ascertained that there is broad support among participants for the proposal; and Whereas the Executive Board, in accordance with Article XVIII, Section 4(a), has concurred in the proposal of the Managing Director. Now, therefore, the Board of Governors, being satisfied that the proposal of the Managing Director meets the principles governing the allocation of special drawing rights set forth in Article XVIII, Section 1(a), hereby resolves that:

1.The Fund shall make an allocation of Special Drawing Rights to participants in the Special Drawing Rights Department that are eligible, in accordance with the Articles of Agreement, to receive allocations during the Eleventh Basic Period.

2.The allocation shall be made on the twenty-first day following the date on which this resolution becomes effective.

3.The rate for the allocation shall be 95.8455025357 percent of the quota of each eligible participant on the date on which this resolution becomes effective.