MEASURES TO REPLENISH THE FUND'S HOLDINGS OF SCARCE CURRENCIES Sample Clauses

MEASURES TO REPLENISH THE FUND'S HOLDINGS OF SCARCE CURRENCIES. The Fund may, if it deems such action appropriate to replenish its holdings of any member's currency, take either or both of the following steps: (i) Propose to the member that, on terms and conditions agreed between the Fund and the member, the latter lend its currency to the Fund or that, with the approval of the member, the Fund borrow such currency from some other source either within or outside the territories of the member, but no member shall be under any obligation to make such loans to the Fund or to approve the borrowing of its currency by the Fund from any other source. (ii) Require the member to sell its currency to the Fund for gold.
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