An Official Agreement With Another Country

1. The Fund informs members that, in accordance with Article IV, Sections 1, 3, 4 and 5, and this list, counterparties may be established for the purposes of this agreement, within the meaning of the special drawing right or another common denominator, as provided by the Fund. The common denominator should not be gold or currency. Members undertake not to invoke commitments made with other members prior to this agreement in a manner that prevents the implementation of the provisions of this section. Membership of the UK is covered by a large number of EU international agreements. These international agreements include political, security, economic and other forms of cooperation and cooperation with more than 100 third countries and cover a number of sectors such as aeronautics, trade, nuclear industry, the environment, fisheries and political agreements. (1) Accounts are counted against the general resource account after 1 to 6 of this list. The Fund is required to pay a member an amount equal to its quota, plus all amounts incurred by the Fund, less money incurred in the Fund, including costs incurred after the date of departure; However, payment is not made until six months after the date of withdrawal. Payments are made in the paying member`s currency and, to this end, the Fund may transfer the member`s currency assets to the general resource account to the special payment account or investment account for an equivalent amount of other members` currencies to the general resource account selected by the Fund with the Fund`s agreement. 6. The deducing member guarantees the unrestricted use of the currency mentioned within 4 and 5 years at any time for the purchase of goods or for the payment of sums earned by him or to persons in his territory. It compensates the fund for losses resulting from the difference between the value of its currency in the form of a special drawing right at the time of withdrawal and the special drawing right within the meaning of the special drawing right of the fund less than 4 and 5.

If the UK leaves the EU without a deal, it will no longer be covered by international agreements concluded solely by the EU or by “mixed” bilateral agreements between the EU and its Member States, on the one hand, and a third, on the other, unless the UK and the third agree on the transition of the agreement or other measures to ensure the continuity of the effects of the agreement.

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