Providing For The Acceptance By The Government Of The Republic Of The Philippines Of The Second Amendment To The Articles Of Agreement Of The International Monetary Fund
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Providing For The Acceptance By The Government Of The Republic Of The Philippines Of The Second Amendment To The Articles Of Agreement Of The International Monetary Fund
Presidential Decree No. 1036
October 4, 1976
Case Overview and Summary
PRESIDENTIAL DECREE No. 1036Acceptance of the Second Amendment to the Articles of Agreement of the International Monetary Fund
- The Board of Governors of the International Monetary Fund approved the proposed Second Amendment to the Articles of Agreement of the International Monetary Fund, which constitutes major reforms to strengthen the international monetary system.
- The Second Amendment will effect the following significant changes:
- Changes on exchange arrangements
- Reduction of the role of gold in the monetary system
- Expansion of the possible uses of special drawing rights towards making them the principal reserve asset in the monetary system
- Simplification and expansion of the types of the Fund's financial operations and transactions
- The Philippine Government, through President Ferdinand E. Marcos, accepts the Second Amendment to the Articles of Agreement of the International Monetary Fund, as attached to the March 1976 Report of the Executive Directors to the Board of Governors of the Fund.
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Executive Issuances
Presidential Decrees
International Monetary Fund
Second Amendment
Articles of Agreement
exchange arrangements
gold
monetary system
special drawing rights
reserve asset
financial operations
transactions
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Providing For The Acceptance By The Government Of The Republic Of The Philippines Of The Second Amendment To The Articles Of Agreement Of The International Monetary Fund
Presidential Decree No. 1036
•October 4, 1976
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1036 October 4, 1976
PROVIDING FOR THE ACCEPTANCE BY THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES OF THE SECOND AMENDMENT TO THE ARTICLES OF AGREEMENT OF THE INTERNATIONAL MONETARY FUND
WHEREAS, the Board of Governors of the International Monetary Fund has approved the proposed Second Amendment to the Articles of Agreement of the International Monetary Fund which constitutes a major reforms that will strengthen the international monetary system;
WHEREAS, formal acceptance of the proposed amendment by the member countries including the Philippines is required to be signified and expressed through an official act of the respective Governments.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby accept, for and in behalf of the Government of the Republic of the Philippines, the Second Amendment to the Articles of Agreements of the International Monetary Fund attached to the March, 1976, Report of the Executive Directors to the Board of Governors of the Fund,...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
International Monetary Fund
Second Amendment
Articles of Agreement
exchange arrangements
gold
monetary system
special drawing rights
reserve asset
financial operations
transactions
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1036 October 4, 1976
PROVIDING FOR THE ACCEPTANCE BY THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES OF THE SECOND AMENDMENT TO THE ARTICLES OF AGREEMENT OF THE INTERNATIONAL MONETARY FUND
WHEREAS, the Board of Governors of the International Monetary Fund has approved the proposed Second Amendment to the Articles of Agreement of the International Monetary Fund which constitutes a major reforms that will strengthen the international monetary system;
WHEREAS, formal acceptance of the proposed amendment by the member countries including the Philippines is required to be signified and expressed through an official act of the respective Governments.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby accept, for and in behalf of the Government of the Republic of the Philippines, the Second Amendment to the Articles of Agreements of the International Monetary Fund attached to the March, 1976, Report of the Executive Directors to the Board of Governors of the Fund,...
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