MALTA MEMBERSHIP OF THE INTERNATIONAL MONETARY FUND (2023 CONTRIBUTION AGREEMENT) ORDER

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND (2023 CONTRIBUTION AGREEMENT)

SUBSIDIARY LEGISLATION 209.04

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND (2023 CONTRIBUTION

AGREEMENT) ORDER

7th September, 2023

LEGAL NOTICE 211 of 2023.

The title of this order is the Malta Membership of the

International Monetary Fund (2023 Contribution Agreement) Order.

It is hereby being declared

(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

MALTA MEMBERSHIP OF THE INTERNATIONAL

MONETARY FUND (2023 CONTRIBUTION AGREEMENT)

(g)

that the 2023 Contribution Agreement shall come

into force immediately upon the signing thereof.