Malta Membership of the International Monetary Fund

L.N. 2 of 2025

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND ACT

(CAP. 209)

Malta Membership of the International Monetary Fund

(Successor Agreement to the 2020 Borrowing Agreement)

Order, 2025

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 (Successor Agreement to the 2020

Borrowing Agreement) Order, 2025.

It is hereby 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 a denominated amount to the Fund of Special

Drawing Rights subject to the relevant provisions of the

Successor Agreement to the 2020 Borrowing Agreement, in

accordance with Section 1(i) of Article VII of the Fund

Agreement in the Schedule of the Malta Membership of the Cap. 209.

International Monetary Fund Act;

(b) that paragraph 2(a) of the Successor Agreement to the

2020 Borrowing Agreement provides that the term thereof shall

expire when the International Monetary Fund Board of Directors

has determined that the two general conditions for the

effectiveness of quota increases under the Sixteenth General

Review of Quotas in accordance with paragraph 3 of the Board

of Governors Resolution No. 79-1, adopted on the 15th

December 2023 have been met, or on 31st December 2027,

whichever one is the earlier;

(c) that the loan of a denominated amount to the Fund of

Special Drawing Rights by the Central Bank of Malta under the

Successor Agreement to the 2020 Borrowing Agreement shall be

equivalent to up to one hundred and twelve million euro

(€112,000,000);

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

Successor Agreement to the 2020 Borrowing Agreement shall be

effective upon the entry into force, and in accordance with the

relevant provisions of the said Successor Agreement to the 2020

Borrowing Agreement;

(e) that the Successor Agreement to the 2020 Borrowing

Agreement shall enter into force immediately upon the signing

thereof.

€0.09