MALTA MEMBERSHIP OF THE INTERNATIONAL MONETARY FUND (EXTENSION OF THE LOAN AGREEMENT) ORDER

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND (EXTENSION OF THE LOAN

AGREEMENT)

SUBSIDIARY LEGISLATION 209.02

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND

(EXTENSION OF THE LOAN AGREEMENT) ORDER

2nd August, 2019

LEGAL NOTICE 188 of 2019.

The title of this order is the Malta Membership of the

International Monetary Fund (Extension of the Loan Agreement)

Order.

It is hereby declared

(a)

that on the October 4, 2017 the Central Bank of

Malta and the International Monetary Fund entered into an

agreement with a view to lend to the Fund a Special Drawing

Rights-denominated amount subject to the relevant provision of

the Agreement and in accordance with Article VII, Section 1(i)

of Schedule (Section 2) of the Malta Membership of the

International Monetary Funds (hereinafter referred to as "the

Loan Agreement").

(b)

that paragraph 2(a) of the Loan Agreement

provides that the term thereof shall end on December 31, 2019;

provided that the International Monetary Fund may extend the

term of the Loan Agreement for one further year through

December 31, 2020 by a decision of the Executive Board of the

International Monetary Fund, taking into account the Fund’s

overall liquidity situation and actual and prospective borrowing

requirements, and with the consent of the Central Bank of

Malta;

(c)

that on May 30, 2019 the International Monetary

Fund wrote to the Central Bank of Malta to inform it that on

May 20, 2019 the Executive Board of the International

Monetary Fund approved a one-year extension of the terms of

the Loan Agreement, through end-2020;

(d)

that the Central Bank of Malta granted its consent

to the International Monetary Fund for the one-year extension

in terms of paragraph 2(a) of the Loan Agreement;

(e)

the Special Drawing Rights-denominated amount

being loaned by the Central Bank of Malta under the Loan

Agreement and the Extension of the Loan Agreement will

continue to be up to the equivalent of two hundred and sixty

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND (EXTENSION OF THE LOAN

AGREEMENT)

million euro (€260,000,000).