5. Power of Monetary Authority of Singapore in respect of special drawing rights
Feedback & supportLast amended by an amending law of 2023. 2 amendments in all.
The Monetary Authority of Singapore shall have power from time to time to acquire, hold and deal with special drawing rights of the Government in accordance with the Fund Agreement and to perform all acts supplemental or incidental thereto, including —
the payment of any charges payable to the Fund under section 2 of Article XX of the Fund Agreement and any sums payable to the Fund under section 4 of that Article;
the receipt of the interest payable by the Fund in respect of special drawing rights under section 1 of the said Article XX; and
the discharge of any other obligations as a participant in the Special Drawing Rights Department maintained by the Fund.
In addition, the Monetary Authority of Singapore may buy, sell or otherwise deal with the special drawing rights of the Government to enable Singapore to carry out its obligations under any Fund arrangement or Fund program.
Fund arrangement
“Fund arrangement” means —(a)the credit arrangements provided pursuant to Decision No. 11428‑(97/6), dated 27 January 1997, of the Executive Board of the Fund, as subsequently amended and renewed by the decisions of the Executive Board of the Fund; or(b)any arrangement established by the Fund under section 1 of Article VII of the Fund Agreement;