Approve The Increase Of The Share Of The Republic Argentina.

Original Language Title: Apruébase el aumento de la cuota de la República Argentina.

Read the untranslated law here: https://www.boletinoficial.gob.ar/#!DetalleNorma/10293536/20160703

Fund monetary International Fund monetary international law 26.849 approving the increase of the share of the Republic Argentina. Sanctioned: April 17, 2013 in fact enacted: May 6 2013 the Senate and the Chamber of deputies of the Argentina nation gathered in Congress, etc. they attest to with force of law: article 1 - approve the increase of the share of the Republic of ARGENTINA in the International Monetary Fund (IMF), according to the fourteenth General review of quotas of the organism concerned, in the sum of rights special of spinning a thousand seventy million two hundred thousand (1.070.200.000 DEG). With the approval given in this article and once the fourteenth General review of quotas to become effective, the share of the Republic of ARGENTINA in this body will rise to the sum of rights special of turn three MIL cent eighty-seven million three hundred thousand (3.187.300.000 DEG).
Article 2º - the increase provided by article 1 of this law will be charged twenty-five percent (25%) of the increase in special drawing rights money either, total canceled or partially, in the currencies of other Member countries of the International Monetary Fund (IMF) as the same shall be determined and having the conformity of those countries and also , the seventy and five percent (75%) remaining is paid in currency of the Republic ARGENTINA, all which of conformity with it established in the article III, section 3 of the Convention establishing of the Fund monetary International (IMF) that out approved by the Decree Law No. 15.970 of date 31 of August of 1956 and their complementary and amended Nros. 17.887 21.648 24.005 and 25.395, in accordance with the rules and procedures provided for by resolution No. 66 - 2 dated 15 December 2010 of the Board of Governors of the said body.
Article 3º - authorised the BANCO CENTRAL DE LA REPUBLICA ARGENTINA, on behalf and on behalf of the Argentine Republic, issue non-negotiable values that will not bear interest, payable at the sight, which will be delivered to the International Monetary Fund (IMF) in order to cancel the seventy and five per cent (75%) of the increase to be paid in the currency of the Republic of ARGENTINA , in accordance with provisions of article III, section 4 of the articles of agreement of the International Monetary Fund (IMF) as well as also to make payments that were required to deal with emerging commitments of the situations provided for in article V, section 11 of the articles of agreement of the International Monetary Fund (IMF). In the event that the International Monetary Fund (IMF) requires the substitution of the values referred to in the preceding paragraph for currency, the BANCO CENTRAL DE LA REPUBLICA ARGENTINA https://www.boletinoficial.gob.ar/pdf/linkQR/bDNESnAxN28wRmxycmZ0RFhoUThyQT09 must have the corresponding contributions of consideration to be provided by the Secretary of the Treasury of the Ministry of economy and public finances.
The BANCO CENTRAL DE LA REPUBLICA ARGENTINA article 4º - authorized to make, on behalf and for the account of the Republic of ARGENTINA, payments that were required to cancel twenty-five percent (25%) of the increase in special rights of Giro or total or partially, in the currencies of other countries members of the International Monetary Fund (IMF). Them payments that must perform is with active external is be carried out in the frame of it planned by the second paragraph of the article 6 ° of the law 23.928 and their modifications, receiving the Bank CENTRAL of the Republic ARGENTINA instruments of debt that will provide the Ministry of economy and finance public.
Article 5º - empower is the Ministry of economy and public finances to, as counterpart of the preceding payments, make contributions that apply under the provisions of article 3 of this law, and issued by even the sums required to cover twenty-five percent (25%) of the increase in the share that is approved by the article 1 of this law one or more transferable, called letters in US dollars, fully redeemable at maturity, with a term of ten (10) years amortization, which will bear an interest rate equal to that accrued of the BANCO CENTRAL DE LA REPUBLICA ARGENTINA's international reserves for the same period, up to a maximum of the annual LIBOR rate, less one (1) percentage point and whose interests will be cancelled twice a year. To such purposes, must include are these expenditures in the law of budget General of the Administration National for the exercise relevant. In addition, it empowers the Chief of Cabinet of Ministers for extensions or modifications of budgetary appropriations and funding originating from the capital increase, the time in which it is implemented.
Article 6 °-approving the amendments fifth, sixth and seventh of the Convention establishing of the Fund monetary International (IMF) adopted by the Assembly of Governors of that agency by them resolutions Nros. 63-2 dated April 28, 2008, 63-3 dated 5 May 2008 and 66-2 dated December 15, 2010, whose translations authenticated into the Spanish language form an integral part of the present law as an annex.
Article 7 °-authorize is to the Mr Governor representative by the Republic ARGENTINA before the Fund monetary International (IMF), charge that plays the Mr Minister of economy and finance public, to the Mr Governor alternate before the same body, charge that plays it lady President of the Bank CENTRAL of it Republic ARGENTINA and, also, to the and/or them officials that is designated for carry to out all them actions necessary aimed to the acceptance by ARGENTINA, of the fifth, sixth and seventh amendments of the articles of agreement of the International Monetary Fund (IMF).
Article 8º - communicate to the national executive power.

GIVEN IN THE CHAMBER OF THE CONGRESO ARGENTINO IN BUENOS AIRES, THE SEVENTEENTH DAY OF THE MONTH OF APRIL OF THE YEAR 2013.
https://www.boletinoficial.gob.ar/pdf/linkQR/bDNESnAxN28wRmxycmZ0RFhoUThyQT09 - registered under no. 26.849 - AMADO BOUDOU. -JULIAN A. DOMINGUEZ. -Gervasio Bozzano. -John H. Estrada.
Note: E l annex that in tegra is ta law is pub l ica in the ed ic ion web of l BORA-www.boletinoficial.gov.ar- and also can be consulted in the headquarters Central of this address national (Suipacha 767-city autonomous of Buenos Aires).

Date of publication: 10/05/2013 https://www.boletinoficial.gob.ar/pdf/linkQR/bDNESnAxN28wRmxycmZ0RFhoUThyQT09