Contribution Agreement) Order, 2023

L.N. 211 of 2023

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND ACT

(CAP. 209)

Malta Membership of the International Monetary Fund (2023

Contribution Agreement) Order, 2023

IN EXERCISE of the powers conferred by article 8 of the Malta

Membership of the International Monetary Fund Act, the Minister

responsible for finance has made the following order:-

The title of this order is the Malta Membership of the Citation.

International Monetary Fund (2023 Contribution Agreement) Order,

2023.

It is hereby being declared

Declaration.

(a) that the Central Bank of Malta and the International

Monetary Fund shall be entering into a bilateral agreement with

a view to lend to the Fund, under the Resilience and

Sustainability Facility of the Trust, a Special Drawing Rights

denominated amount subject to the relevant provisions of the

2023 Contribution Agreement, in accordance with section 2(b)

of Article V of the Fund Agreement in the Schedule to the Malta

Membership of the International Monetary Fund Act;

(b) that the 2023 Contribution Agreement shall consist of

three (3) parts, the Borrowing Agreement, the Deposit

Agreement and the Reserve Contribution Agreement. The

contribution amount shall be determined by the 2023

Contribution Agreement which fulfils the purpose of the

Resilience and Sustainability Facility of the Trust;

(c) that paragraph 2(a) of Section I of the 2023

Contribution Agreement allows for the Fund to make drawings at

any time from the effective date until 30th November 2030 to

finance loan disbursements of the Resilience and Sustainability

Facility of the Trust;

(d) that paragraph 3 of the Deposit Agreement provides

30th November 2050 as the maturity date for the deposit

contribution;

(e)

that the Central Bank of Malta shall provide the

reserve contribution following receipt of the necessary funds

from the Government;

(f) that it is expedient that those arrangements under the

2023 Contribution Agreement shall become effective upon the

coming into force of the 2023 Contribution Agreement and in

accordance with the relevant provisions of the said Agreement;

and

(g) that the 2023 Contribution Agreement shall come into

force immediately upon the signing thereof.

€0.18