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Draft resolution : reform of the international monetary system

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LIMITED i

S/CN.14/L.381

14 February I969 Original: ENGLISH

i; UUJftMXSSION FOR AFRICA Ninth session

Addis Ababa, 3-14 February 1969

.Draft Resolution

Reform of the international monetary system Sponsored bys Somalia, Sudan, UAR,

.Economic Commission for Africa,

Recognizing that there is a great need for the increase of inter national liquidity to cope with the development requirements of the

developing world,

aware of the shortcoming of the existing monetary systemg y y

regarding the African countries in particular and the developing world

in general,

1. Invites member States to participate in the activation of the IMF

Special Drawing Rights (SPRS) Scheme,

2. To establish a link between the SPRS and development finance,' 3. To negotiate the lengthening of the repayment period of fund's

drawing rights (6-8), ". ■ ',

4* M immediate general increase in Fund's quotas as a means to provide additional reserves complied with exemption from or reduction to a reason able level, of the gold portion of the increase in quota. -

M69-617

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