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MOTION FOR RESOLUTION No. 111 /X

Through Resolution No. 63-3 of May 5, 2008, the Assembly of Governors of the

International Monetary Fund (IMF), adopted the proposal for Amendment to the Relative Agreement

to the International Monetary Fund aimed at extending the investment capacity of the

International Monetary Fund, to which Portugal acceded through the Decree-Law No 43338,

of November 21, 1960, concerning the enlargement of the investment capacity of the

IMF and known for Investment Authority Amendment .

This initiative falls within the broader context of the IMF reform, initiated in 2004, by

occasion of your 60 th anniversary. After the revision of the Bilateral Surveillance Decision, in

2007, the subjects under discussion were in particular the area of governance, in particular

institutional and financial of the Fund, materialized through the reform of quotas and form

representation of the member states, as well as the development of a model

sustainable for the finances of the Fund, with, in both cases, the reforms

decided to entail amendments to the Articles of Agreement concerning the Monetary Fund

International, so as to raise the effectiveness, credibility and legitimacy of this institution,

adapting it to the current external entangment and the new challenges associated with the growing

globalization and global economic and financial interlinkages.

From this Resolution it follows, in particular, the possibility of the IMF resorting to new sources

of financing, such as the creation of a financial endowment from the sale of gold or the

use of the quotas of the Member States for investment purposes.

To be approved, this Resolution of the IMF's Assembly of Governors requires its

acceptance for three fifths of the IMF Member States, representing 85% of the power of

vote. It becomes therefore necessary to trigger the process of approval by the

Portuguese State.

Thus:

Under the terms of the paragraph d) of Article 197 (1) of the Constitution, the Government presents to the

Assembly of the Republic the following motion for a resolution:

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Approves, for accession, a Amendment to the Agreement Relative to the International Monetary Fund

intended to extend the investment capacity of the International Monetary Fund,

adopted in accordance with Resolution No. 63-3 of May 5, 2008, of the

Assembly of Governors of the said Fund, the text of which, in the authenticated version in

english-language, and respective translation in Portuguese language if published in annex.

Seen and approved in Council of Ministers of September 18, 2008

The Prime Minister

The Minister of State and Foreign Affairs

The Minister of the Presidency

The Minister of Parliamentary Affairs