Approves, For Membership, An Amendment To The Agreement On The International Monetary Fund Designed To Expand The Investment Capacity Of The International Monetary Fund, Adopted In Accordance With The Resolution No. 63-3, May 5, 2008 The House D
Original Language Title: Aprova, para adesão, uma Emenda ao Acordo relativo ao Fundo Monetário Internacional destinada a alargar a capacidade de investimento do Fundo Monetário Internacional, adoptada em conformidade com a Resolução n.º 63-3, de 5 de Maio de 2008, da Assembleia d
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1 MOTION for a RESOLUTION paragraph 111/X through resolution No. 63-3, of 5 May 2008, the Assembly of Governors of the International Monetary Fund (IMF), adopted the proposed amendment to the agreement on the International Monetary Fund designed to expand the investment capacity of the International Monetary Fund, to which Portugal joined through Decree-Law No. 43338, 21 November 1960 on the enlargement of the investment capacity of the IMF and known by Investment Authority Amendment. This initiative is part of the broader context of the reform of the IMF, initiated in 2004, on the occasion of your 60th anniversary. After reviewing the Bilateral Surveillance decision in 2007, the matters under discussion reported in particular in the field of governance, institutional and financial background, materialized through the reform of quotas and representation of the Member States, as well as the development of a sustainable model for the Finance of the Fund, and, in both cases, the reforms decided imply amendments to the articles of the agreement on the International Monetary Fund in order to raise the effectiveness, credibility and legitimacy of the institution, adapting it to the current external surroundings and the new challenges associated with the increasing globalization and economic and financial global interconnections. This resolution takes place, in particular, the ability of the IMF to turn to new sources of financing, such as creating a budget from the sale of gold or the use of quotas in the Member States for investment purposes. To be approved, the resolution of the Assembly of Governors of the IMF requires your acceptance by three-fifths of the Member States of the IMF, representing 85% of the voting power. It becomes therefore necessary to trigger the approval process by the Portuguese State. So: under d) of paragraph 1 of article 197 of the Constitution, the Government presents to the Assembly of the Republic the following resolution: to approve accession 2, an amendment to the agreement on the International Monetary Fund designed to expand the investment capacity of the International Monetary Fund, adopted in accordance with the resolution No. 63-3, of 5 May 2008 , of the Assembly of Governors of the Fund, whose text, authenticated version in English, and its translation into Portuguese language published in annex.
Seen and approved by the Council of Ministers of 18 September 2008 the Prime Minister of State and Minister for Foreign Affairs the Minister of Parliamentary Affairs Minister Presidency
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