On the ratification of amendments to the Articles of Agreement of the International Monetary Fund

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The Law of the Republic of Kazakhstan dated March 20, 2015 No. 298-V SAM

Article 1. To ratify the Amendment to the Articles of Agreement of the International Monetary Fund, approved by Resolution of the Board of Governors of the International Monetary Fund dated April 28, 2008 No. 63-2 "Reforming quotas and votes in the International Monetary Fund", Amendment to the Articles of Agreement of the International Monetary Fund, approved by Resolution of the Board of Governors of the International Monetary Fund dated May 5, 2008 No. 63-3 "Expansion of Investment powers The International Monetary Fund", and an Amendment to the Articles of Agreement of the International Monetary Fund, Approved by Resolution No. 66-2 of the Board of Governors of the International Monetary Fund dated December 15, 2010 "The Fourteenth general review of quotas and reform of the Executive Board".  Article 2. Amendment to the Articles of Agreement of the International Monetary Fund, approved by Resolution No. 63-2 of the Board of Governors of the International Monetary Fund dated April 28, 2008 "Reforming quotas and votes in the International Monetary Fund", entered into force on March 3, 2011. The amendment to the Articles of Agreement of the International Monetary Fund, approved by the Resolution of the Board of Governors of the International Monetary Fund dated May 5, 2008 No. 63-3 "Expansion of Investment Powers of the International Monetary Fund", entered into force on February 18, 2011. The amendments provided for in parts one and two of this Article shall apply to the Republic of Kazakhstan from the date of their entry into force.

President of the Republic of Kazakhstan N. NAZARBAYEV

Resolution No. 63-2

Reforming quotas and votes in the International Monetary Fund

In accordance with section 13 of the Rules of Procedure, the following Resolution was submitted to the Board of Governors on March 28, 2008 for a vote without a meeting. Considering that the Resolution also recommends adjustments to the quotas of the members who proposed the said adjustment and whose names are given in Annex I to the Resolution, the adoption of the Resolution requires a positive response from the Governors, who have an eighty-five percent majority of the total votes: In accordance with the response to the proposal of the Board of Governors set out in Resolution 61-5 and the submission by the Executive Board to the Board of Governors of a report entitled "Reforming quotas and votes in the International Monetary Fund.": Report of the Executive Board to the Board of Governors (hereinafter referred to as the Report)"; And also taking into account that the Executive Board recommended an increase in the quotas of a certain number of Fund members, of which all members demanded an increase in their quotas; The Executive Board recommended an amendment to the Articles of Agreement in response to the request of the Board of Governors set out in Resolution 61-5 as follows: (a) it will be decided to increase the number of core votes of members and to establish a mechanism to ensure that the ratio of the number of core votes of all members to the number of total voting rights of all members remains unchanged; (b) each Executive Director elected by a majority of members will be given the right to appoint a second Deputy Executive Director; The Chairman of the Board of Governors requested the Secretary of the Fund to submit the Executive Board's proposal for consideration by the Board of Governors.; The report of the Executive Board setting out its recommendations has been submitted to the Board of Governors by the Secretary of the Fund; the Executive Board has requested the Board of Governors to vote on the following Resolution without a meeting, in accordance with section 13 of the Rules of Procedure of the Fund: Hereby, the Board of Governors, taking into account the recommendations and the aforementioned Report of the Executive Board, has decided as follows:

But. Increase in member quotas

1. In accordance with the provisions of this Resolution, the International Monetary Fund proposes to increase the quotas of the Fund's members listed in the list. Of Annex I to this Resolution, up to the number indicated opposite their names in Annex I. 2. An increase in the quotas of members shall take effect only after the written consent of the members to the increase has been submitted and the Fund has paid the entire amount of the quota increase. Each member is required to contribute an amount equal to 25 percent of the quota increase, either in special drawing rights or in the currencies of other members defined in their agreement with the Fund, or in any combination of special drawing rights and in the currencies of other members. The remainder of the increase amount must be paid by each member in their own currency. 3. Each member must agree to the proposed increase in its quota no later than October 31, 2008, while the Executive Board has the right to extend this period at its discretion, taking into account the need for members to obtain internal legislative approval. 4. Each member undertakes to pay the Fund for an increase in its quota within 30 days, (a) after notifying the Fund of its consent; or (b) after the date on which the effective quota increase requirement under section A.5 is met.; provided that the Executive Board has the right to extend this period at its discretion. 5. The quota increase will not take effect until the proposed amendments to the Articles of Agreement approved by this Resolution enter into force.

B. Subsequent quota reviews

The Executive Board was requested to assist in the regrouping of member shares in the context of future general quota revisions, starting with the Fourteenth general quota Revision to ensure that the respective positions of member shares in the global economy continue to be reflected.

With. Amendment to the Articles of Agreement

1. The proposed amendment to the Articles of Agreement of the International Monetary Fund, set out in Annex II to this Resolution (the proposed amendment to increase votes and participation in the International Monetary Fund) has been approved. 2. The Secretary is instructed to ask all members of the Fund by circular letter or telegram or other rapid means of communication about the adoption of the proposed amendment to increase votes and to participate in the International Monetary Fund in accordance with the provisions of article XXVIII of the Agreement. 3. A notification to be sent to all members in accordance with the terms of the preceding paragraph should determine that the proposed amendment to increase votes and participation in the International Monetary Fund shall enter into force for all members from the moment when the Fund certifies, by sending an official notification to all members, that three fifths of the members having eighty-five percent of the rights The votes adopted the proposed amendment to increase votes and participation in the International Monetary Fund.

D. Members authorized to appoint two Deputy Executive Directors

1. After the election of the first regular Executive Directors and the entry into force of the proposed amendment to increase votes and participation in the International Monetary Fund, the Executive Director, elected by at least 19 members, is authorized to appoint two Deputy Executive Directors. 2. As a condition for the appointment of two Deputy Executive Directors, the Executive Director must nominate, by notification to the Secretary of the Foundation: (i) a Deputy who will act as Executive Director in his absence, and both deputies will be present, (ii) a Deputy who will exercise the powers of the Executive Director in accordance with section 3 (f) of article XII. By notifying the Secretary of the Foundation, the Executive Director has the right to replace these candidates at any time.

ANNEX I

Proposed quota (million SDR)

Albania

60,0

Malaysia

1,773,9

Austria

2,113,9

Maldives

10,0

Bahrain

176,4

Mexico

3,625,7

Bhutan

8,5

Norway

1,883,7

Botswana

87,8

Oman

237,0

Brazil

4,250,5

Republic of Palau

3,5

Cape Verde Islands

11,2

Philippines

1,019,3

Chad

66,6

Poland

1,688,4

China

9,525,9

Portugal

1,029,7

Costa Rica

187,1

Qatar

302,6

Cyprus

158,2

San Marino

22,4

Czech

1,002,2

Seychelles

10,9

Denmark

1,891,4

Singapore

1,408,0

Ecuador

347,8

Slovak Republic

427,5

Equatorial Guinea

52,3

Slovenia

275,0

Eritrea

18,3

Spain

4,023,4

Estonia

93,9

Syria

346,8

Germany

14,565,5

Thailand

1,440,5

Greece

1,101,8

East Timor

10,8

India

5,821,5

Türkiye

1,455,8

Irish

1,257,6

Turkmenistan

98,6

Israel

1,061,1

UAE

752,5

Italy

7,882,3

USA

42,122,4

Japan

15,628,5

Vietnam

460,7

Kazakhstan

427,8

Korea

3,366,4

Latvia

142,1

Lebanon

266,4

Lithuania

183,9

Luxembourg

418,7

ANNEX II

Proposed amendment to the Articles of Agreement of the International The International Monetary Fund to increase votes and participation in the International Monetary Fund

The Managers on whose behalf this Agreement has been signed have agreed as follows: 1. The text of section 3 (e) of article XII is subject to amendment and will be worded as follows: "(e) Each Executive Director shall appoint a deputy with full authority to perform his duties during his absence, provided that the Board of Governors has the right to adopt rules allowing the Executive Director, elected by more than a certain number of members, to appoint two deputies. These rules, when adopted, may be amended only in the context of the regular election of Executive Directors and require the Executive Director, who appoints two deputies, to nominate: (i) a Deputy who will act as Executive Director in his absence, and both deputies will be present, (ii) a Deputy who will act as Executive Director in accordance with paragraph (f) below. In cases where the Executive Directors who appointed them will be present, the deputies may participate without the right to vote." 2. The text of section 5 (a) of article XII is subject to amendment and will be worded as follows: "(a) The total number of votes of each member is equal to the sum of his primary votes and the sum of his votes based on his share. (i) The basic votes of each member shall be equal to the number of votes resulting from an equal distribution among all members of 5,502 per cent of the total voting rights of all members, subject to the exclusion of any fractional basic votes. (ii) The votes based on each member's share shall be equal to the number of votes that result from the allocation of one vote for each part of its quota equal to one hundred thousand special drawing rights." 3. The text of section 2 of Appendix L is subject to amendment and will be worded as follows: «2. The number of votes allocated to a member is not decisive in any body of the Foundation. They should not be included in the calculation of all voting rights except for the purposes of: (a) adopting proposed amendments that relate exclusively to the Department of Special Drawing Rights, and (b) calculating primary votes in accordance with the provisions of section 5 (a) (i) of article XII." The Board of Governors adopted the aforementioned Resolution, effective April 28, 2008.

Resolution No. 63-3

Proposed amendment to the Articles of Agreement of the International The International Monetary Fund to expand the investment powers of the International Monetary Fund

In accordance with section 13 of the Rules of Procedure, the following Resolution was submitted to the Governors on April 7, 2008 for a vote without a meeting: The Governing Council, considering that: The International Monetary and Financial Committee requested the Executive Board to develop specific proposals for a new profit model and a new cost framework by the Spring 2008 Meeting of the International Monetary and Financial Committee, and that the Executive Board send these proposals; The application of specific aspects of these proposals requires the adoption of an amendment to the Agreement, and the Executive Board proposed and recommended that the Board of Governors approve the amendment and prepare a Report on the subject.; The Chairman of the Board of Governors requested the Secretary of the Fund to submit proposals of the Executive Board for consideration by the Board of Governors.; The report of the Executive Board outlining these proposals was sent to the Board of Governors by the Secretary of the Fund for consideration.; The Executive Board requested the Board of Governors to vote on the following Resolution without a meeting, in accordance with the provisions of section 13 of the Fund's Rules of Procedure.; And also, taking into account the recommendations and the aforementioned Report of the Executive Board, hereby decided on the following: 1. The proposed amendment to the Articles of Agreement of the International Monetary Fund (the proposed amendment to the Articles of Agreement of the International Monetary Fund on Expanding the Investment Powers of the International Monetary Fund), attached to this Resolution, has been approved. 2. To the Secretary of the Fund, to interview all members of the Fund by sending a circular letter or telegram, or by any other expeditious means, on the acceptance of the proposed amendment to the Articles of Agreement of the International Monetary Fund to Expand the Investment Powers of the International Monetary Fund, in accordance with the provisions of article XXVIII of the Agreement. 3. A communication to be sent to all members in accordance with the terms of paragraph 2 of this Decision should determine that the proposed amendment to the Articles of Agreement of the International Monetary Fund on Expanding the Investment Powers of the International Monetary Fund shall enter into force for all members from the moment when the Fund certifies, by sending an official notification to all members, that three fifths of the members, having eighty-five percent of the voting rights, We have adopted the proposed amendment to the Articles of Agreement of the International Monetary Fund on Expanding the Investment Powers of the International Monetary Fund.

application

Proposed amendment to the Articles of Agreement of the International The International Monetary Fund to expand the investment powers of the International Monetary Fund

The Managers on whose behalf this Agreement has been signed have agreed as follows: 1. The text of section 6 (f) (iii) of article XII is subject to amendment and will be worded as follows: "(iii) The Fund has the right to use the member currency held in the Investment Account for investment at its discretion, in accordance with the rules and regulations adopted by the Fund by a majority of seventy percent of the total number of votes. The rules and regulations adopted in accordance with these regulations shall comply with paragraphs (vii), (viii) and (ix) below." 2. The text of section 6 (f) (vi) of article XII is subject to amendment and will be worded as follows: "(vi) The investment account is subject to closure in the event of liquidation of the Fund, and may also be closed or the volume of investments may be reduced before the liquidation of the Fund by a majority decision of seventy percent of the total number of votes." 3. The text of section 12 (h) of article V is subject to amendment and will be worded as follows: "(h) Prior to using the currency of a Member State in accordance with subsection (f) above, the Fund has the right to use the currency of members held in the special payments account for investment at its discretion in accordance with the rules and regulations adopted by the Fund by a majority of seventy percent of the total number of votes. The profits from the investments and the interest received under the terms of paragraph (f) (ii) above are subject to placement in the Special Payments Account." 4. A new section 12 (k) is added to article V of the Agreement, which will be worded as follows: "(k) At any time when, under the terms of paragraph (c) above, the Fund sells gold acquired by it after the date of the second amendment of this Agreement, the amount of funds received equal to the value of the gold shall be deposited in the General Resources Account, and any surplus shall be deposited in the Investment Account for use in accordance with the provisions of section 6 (f) of article XII. In the event that any gold acquired by the Fund after the date of the second amendment of this Agreement is sold after April 7, 2008, but before the effective date of this regulation, upon the entry into force of this regulation, and despite the restrictions specified in section 6 (f) (ii) of Article XII, the Fund transfers to the Investment Account from the General Resources Account an amount equal to the profits from the specified sale minus: (i) the cost of acquiring gold, (ii) any amounts of such profits in excess of the purchase price, which have already been transferred to the Investment Account prior to the effective date of these regulations." The Board of Governors adopted the aforementioned Resolution, effective May 5, 2008.

Resolution No. 66-2

Fourteenth general quota review and reform The Executive Council

On November 10, 2010, the following Resolution was submitted to the Governors for voting without holding a meeting, in accordance with section 13 of the Rules of Procedure:

RESOLUTION:

WHEREAS the Executive Board submitted to the Board of Governors a report entitled "The fourteenth general quota review and reform of the Executive Board: report of the Executive Board to the Board of Governors" (hereinafter referred to as the "Report"); and WHEREAS the International Monetary and Financial Committee, in its April 2009 official communique, called upon the Executive Board To postpone the deadline for the completion of the Fourteenth General Quota review 2 years earlier, to January 2011.; and WHEREAS the Executive Board recommended an increase in the quotas of the Fund's Member States as a result of the Fourteenth General quota review; and WHEREAS the Executive Board recommended an amendment to the Articles of Agreement, according to which the Executive Board should be composed solely of elected Executive Directors; AND WHEREAS the Executive Board recommended that, following the first regular election of Executive Directors following the entry into force of the proposed amendment to the Articles of Agreement approved by Governing Council resolution No. 63-2, an Executive Director selected by seven or more Member States should be authorized to appoint two Deputy Executive Directors; and WHEREAS, that the Chairman of the Board of Governors called on the Secretary of the Fund to submit the Executive Board's proposal for consideration by the Board of Governors; and WHEREAS the report of the Executive Board outlining its proposal was submitted by the Secretary of the Fund to the Board of Governors; and WHEREAS, in accordance with section 13 of the Fund's Rules of Procedure, the Executive Board called on the Board of Governors to vote on the following resolution without holding a meeting, The Governing Council, taking into account these recommendations and the above-mentioned report of the Executive Board, hereby DECIDES as follows:

Increase in quotas of Member States

1. The International Monetary Fund proposes, taking into account the provisions of this Resolution, that the quotas of the Fund's member States be increased to the amounts indicated opposite the names of the Member States in the See annex I to this Resolution. 2. The increase in the quota of a Member State proposed by this Resolution shall not enter into force, except in a situation in which the Member State gives its written consent to such an increase no later than the date prescribed in paragraph 4 below and pays for this increase in full during the period prescribed in paragraph 5 below, and the condition is that no Member State with overdue repurchases, fees or contributions due to the General Resources Account, may not give its consent to an increase in its quota or pay for this increase until it has paid off its arrears in respect of the above obligations. 3. The quota increase proposed by this Resolution cannot take effect until: (i) The Executive Council determines that Member States holding at least 70 per cent of the total quotas as of 5 November 2010 have given their written consent to the increase in their quotas.; (ii) the proposed amendment to the Articles of Agreement set out in Annex II to this Resolution will not enter into force; and (iii) the proposed amendment to the Articles of Agreement approved by Governing Council Resolution No. 63-2 will not enter into force. Each Member State undertakes to make every effort to complete these measures no later than the date of the 2012 Annual Meetings. To request the Executive Board to monitor, on a quarterly basis, the progress of these measures. 4. Notifications in accordance with paragraph 2 above are made by a duly authorized official of the Member State and must be received by the Fund before 18:00 Washington time on December 31, 2011, and the Executive Board may extend this period at its discretion. 5. Each Member State shall pay to the Fund an increase in its quota within 30 days of the later date, namely: (a) after the date on which it notifies the Fund of its consent, or (b) after the date on which all the conditions set out in paragraph 3 above apply. they will be implemented, and the Executive Board may extend this period at its discretion. 6. When deciding whether to extend the consent period or to pay an increase in the quota, the Executive Board pays special attention to the situation of Member States that may continue to wish to consent to an increase in the quota or pay an increase in the quota, including the situations of Member States with prolonged overdue arrears to the General Resources Account, consisting of overdue repurchases, fees or contributions due to the General Resources Account, which, in his opinion, is cooperating with the Fund towards the settlement of these obligations. 7. For Member States that have not yet given their consent to an increase in their quotas as part of the Eleventh General Quota Review and in the framework of Governing Council resolution No. 63-2, the deadline for expressing their consent to such quota increases is the date set out in or in accordance with paragraph 4 above. 8. Each Member State pays 25 percent of its increase either in special drawing rights or in the currencies of other Member States, with their consent, specified by the Fund, or in any combination of special drawing rights and such currencies. The outstanding balance of the increase is paid by the Member State in its own currency.

Quota calculation formula and the Fifteenth general quota revision

9. The Executive Board is called upon to complete a comprehensive review of the formula by January 2013. 10. The Executive Board is called upon to provide a timetable for completing the Fifteenth general quota review by an earlier date, namely January 2014. Any rebalancing is expected to lead to an increase in the quota shares of dynamically growing countries in accordance with their relative positions in the global economy and, consequently, to the extent possible, to an increase in the share of emerging markets and developing countries as a whole. Take steps to protect the voices and representation of the poorest Member States.

Revision of loan agreements concluded under the "New Loan Agreements (NSZ)" system

11. In light of the proposed quota increases under the Fourteenth General Quota Review, the Executive Board and the participants in the New NHS Loan Agreements were called upon to review the NHS loan agreements by November 2011, with a corresponding gradual phasing out of the NHS while maintaining relative quota shares, which will enter into force when the conditions are met. as set out in paragraph 3 of this Resolution, and quotas will be paid based on the participation threshold specified in paragraph 3 of this Resolution.

Proposed amendment to the Articles of Agreement of the International Monetary Fund on the reform of the Executive Board

12. Proposed amendment to the Articles of Agreement of the International Monetary Fund, as set out in Annex II to this Resolution (hereinafter referred to as the proposed amendment on the reform of the Executive Board) has been approved. 13. The Secretary is instructed to ask all Member States of the Fund by circular letter, telegram, or other rapid means of communication about the adoption of the proposed amendment on the reform of the Executive Board in accordance with the provisions of article XXVIII of the Agreement. 14. A communication to be sent to all members in accordance with the terms of paragraph 13 of this Resolution should specify that the proposed amendment on the reform of the Executive Board shall enter into force for all members from the moment when the Fund certifies, by sending an official notification to all members, that three fifths of the members with eighty-five percent of voting rights have accepted the proposed amendment. on the reform of the Executive Council.

Additional Deputy Executive Directors

15. Following the holding of the first regular elections of Executive Directors after the entry into force of the amendment to the Articles of Agreement approved by Board of Governors resolution No. 63-2, the Executive Director, elected by seven or more Member States, is entitled to appoint two deputies. 16. As a condition for the appointment of two of his deputies, it is required that the Executive Director, by notification to the Secretary of the Fund, appoint: (i) the deputy who will serve as the Executive Director during the latter's absence, with both deputies present at the same time; and (ii) the deputy who will exercise the powers of the Executive Director under section 3 (f) Articles XII. By means of a notification addressed to the Secretary of the Foundation, the Executive Director may change the appointment data at any time.

Number and composition of the Executive Board

17. The Governing Council takes into account: (i) the reduction commitment as a way to achieve greater representation of emerging markets and developing countries – the number of Executive Directors representing advanced European countries will be doubled no later than the first regular election of Executive Directors after the conditions set out in paragraph 3 of this Resolution are met, and (ii) the commitment of the Fund's member States to maintain an Executive Board consisting of 24 Executive Directors, as well as to review the composition of the Executive Board. the Council every 8 years after the date of satisfaction of the conditions set out in paragraph 3 of this resolution.

Annex I. Proposed quotas

Proposed quota (in millions of SDR)

Australia

6.572,4

Zimbabwe

706,8

Austria

3.932,0

Israel

1.920,9

Azerbaijan

391,7

India

13.114,4

Albania

139,3

Indonesia

4.648,4

Algeria

1.959,9

Jordan

343,1

Angola

740,1

Iran, Islamic Republic of

3.567,1

Antigua and Barbuda

20,0

Iraq

1.663,8

Argentina

3.187,3

Irish

3.449,9

Armenia

128,8

Iceland

321,8

Afghanistan, Islamic Republic of

323,8

Spain

9.535,5

The Bahamas

182,4

Italy

15.070,0

Bangladesh

1.066,6

Republic of Yemen

487,0

Barbados

94,5

Cape Verde

23,7

Bahrain

395,0

Kazakhstan

1.158,4

Belarus

681,5

Cambodia

175,0

Belize

26,7

Cameroon

276,0

Belgium

6.410,7

Canada

11.023,9

Benin

123,8

Qatar

735,1

Bulgaria

896,3

Kenya

542,8

Bolivia

240,1

Cyprus

303,8

Bosnia and Herzegovina

265,2

Kiribati

11,2

Botswana

197,2

China

30.482,9

Brazil

11.042,0

Colombia

2.044,5

Brunei Darussalam

301,3

Komory

17,8

Burkina Faso

120,4

Congo, Democratic Republic

1.066,0

Burundi

154,0

Congo Republic

162,0

Bhutan

20,4

Korea, Republic of

8.582,7

Vanuatu

23,8

Kosovo

82,6

Hungary

1.940,0

Costa Rica

369,4

Venezuela, Bolivarian Republic of

3.722,7

Ivory Coast

650,4

Vietnam

1.153,1

Kuwait

1.933,0

Gabon

216,0

Kyrgyz Republic

177,6

Haiti

163,8

Lao People's Democratic Republic

105,8

Guyana

181,8

Latvia

332,3

Gambia

62,2

Lesotho

69,8

Ghana

738,0

Liberia

258,4

Guatemala

428,6

Lebanon

633,5

Guinea

214,2

Libya

1.573,2

Guinea-Bissau

28,4

Lithuania

441,6

Germany

26.634,4

Luxembourg

1.321,8

Honduras

249,8

Mauritius

142,2

Grenada

16,4

Mauritania

128,8

Greece

2.428,9

Madagascar

244,4

Georgia

210,4

Macedonia, the former Yugoslav Republic of Macedonia

140,3

Denmark

3.439,4

Malawi

138,8

Djibouti

31,8

Malaysia

3.633,8

Dominica

11,5

Mali

186,6

The Dominican Republic

477,4

Maldives

21,2

Egypt

2.037,1

Malta

168,3

Zambia

978,2

Morocco

894,4

Marshall Islands

4,9

Solomon Islands

20,8

Mexico

8.912,7

Somalia

163,4

Micronesia, Federal States

7,2

Sudan

630,2

Mozambique

227,2

Suriname

128,9

Moldova

172,5

Sierra Leone

207,4

Mongolia

72,3

Tadjikistan

174,0

Myanmar

516,8

Thailand

3.211,9

Namibia

191,1

Tanzania

397,8

Nepal

156,9

Timor-Leste

25,6

Niger

131,6

That

146,8

Nigeria

2.454,5

Tonga

13,8

Netherlands

8.736,5

Trinidad and Tobago

469,8

Nicaragua

260,0

Tuvalu

2,5

New Zealand

1.252,1

Tunisia

545,2

Norway

3.754,7

Turkmenistan

238,6

United Arab Emirates

2.311,2

Türkiye

4.658,6

Oman

544,4

Uganda

361,0

Pakistan

2.031,0

Uzbekistan

551,2

Palau

4,9

Ukraine

2.011,8

Panama hat

376,8

Uruguay

429,1

Papua New Guinea

263,2

Fiji

98,4

Paraguay

201,4

Philippines

2.042,9

Peru

1.334,5

Finland

2.410,6

Poland

4.095,4

France

20.155,1

Portugal

2.060,1

Croatia

717,4

Russian Federation

12.903,7

Central African Republic

111,4

Rwanda

160,2

Chad

140,2

Romania

1.811,4

Montenegro

60,5

Samoa

16,2

Czech Republic

2.180,2

San Marino

49,2

Chile

1.744,3

Sao Tome and Principe

14,8

Switzerland

5.771,1

Saudi Arabia

9.992,6

Sweden

4.430,0

Swaziland

78,5

Sri Lanka

578.8

Seychelles

22,9

Ecuador

697.7

Senegal

323,6

Equatorial Guinea

157,5

Saint Vincent and the Grenadines

11,7

El Salvador

287,2

Saint Kitts and Nevis

12,5

Eritrea

36,6

Saint Lucia

21,4

Estonia

243,6

Serbia

654,8

Ethiopia

300,7

Singapore

3.891,9

South Africa

3.051,2

The Syrian Arab Republic

1.109,8

Jamaica

382,9

Slovak Republic

1.001,0

Japan

30.820,5

Slovenia

586,5

United Kingdom of Great Britain and Northern Ireland

20.155,1

United States of America

82.994,2

Annex II

Proposed amendment to the Articles of Agreement of the International Monetary Fund on the Reform of the Executive Board

The Governments on whose behalf this Agreement is signed express their agreement with the following: 1. The text of section 3 (b) of article XII should read as follows: "(b) Subject to paragraph (c) below, the Executive Board consists of twenty Executive Directors elected by the Member States and is chaired by the Managing Director." 2. The text of section 3 (c) of article XII should read as follows: "(c) For the purpose of holding regular elections of Executive Directors, the Board of Governors may, each time, by a majority of eighty-five percent of the total number of votes, increase or decrease the number of Executive Directors named in paragraph (b) above." 3. The text of section 3 (d) of article XII should read as follows: "(d) The election of Executive Directors is held every two years in accordance with the instructions adopted by the Board of Governors. These instructions provide for a limitation on the total number of votes that two or more Member States may cast for the same candidate." 4. The text of section 3 (f) of article XII should read as follows: "(f) The Executive Directors remain in office until their successors are elected. If the position of the Executive Director becomes vacant more than ninety days before the end of the term, another Executive Director shall be elected for the remainder of such term by the Member States that elected the previous Executive Director. In order for elections to take place, a majority of the votes held by such Member States is required. During the time when the position remains vacant, the powers of the former Executive Director are exercised by his deputy, with the exception of the powers to appoint his deputy." 5. The text of section 3 (i) of article XII should read as follows: "(i) (i) Each Executive Director has the right to cast as many votes as were cast for his election. (ii) In a situation where the provisions of section 5 (b) of this article are applicable, the number of votes that the Executive Director would otherwise be entitled to cast shall be increased or decreased accordingly. All votes to which the Executive Director is entitled are used as a single whole. (iii) When the temporary suspension of the voting rights of a Member State under section 2 (b) of Article XXVI ends, a Member State may reach an agreement with all Member States that have elected an Executive Director that the votes allocated to that Member State will be cast by that Executive Director, provided that if No regular elections of Executive Directors were held during the period of temporary disenfranchisement, then the Executive Director in whose election such a Member State participated prior to the temporary disenfranchisement in question, either the successor of such Executive Director, elected in accordance with paragraph 3 (c) (i) of Appendix L or in accordance with subsection (f) above, will be entitled to cast as many votes as have been allocated to the designated Member State. In this case, the Member State is considered to have participated in the election of the Executive Director, who is entitled to as many votes as were allocated to the Member State in question.". 6. The text of section 3 (j) of article XII should read as follows: "(j) The Governing Council shall adopt instructions according to which a Member State may send a representative to attend any meeting of the Executive Council at which a request from such Member State is being considered or an issue of particular importance to such Member State is being discussed. 7. The text of section 8 of article XII should read as follows: "The Fund has the right at any time to informally inform any Member State of its position on any issue arising under this Agreement. The Fund, by a majority of seventy percent of the total number of votes, may decide to publish a report submitted to a Member State on the conditions prevailing in the monetary or economic sphere of the latter, and events directly leading to serious imbalances in the external balance of payments of the Member States. Such Member State shall be entitled to representation in accordance with section 3 (j) of this article. The Fund does not publish reports reflecting changes in the basic structure of the economic structure of the Member States." 8. The text of paragraph (a) (ii) of article XXI should read as follows: "(a) (ii) With respect to decisions of the Executive Board on matters exclusively related to the Special Drawing Rights Department, only Executive Directors who have been elected by at least one participating Member State have the right to vote. Each of these Executive Directors has the right to cast as many votes as were allocated to the Member States that are participants and cast votes for his election. In order to establish the presence of a quorum or to determine whether a decision has been taken by the required majority of votes, the presence of only the Executive Directors elected by the Member States that are Participating States and the votes allocated to the Member States that are Participating shall be taken into account." 9. The text of paragraph (a) of article XXIX should read as follows: "(a) Any question of interpretation of the provisions of this Agreement arising between any Member State and the Fund or between any Member States of the Fund shall be submitted to the Executive Board for consideration. If the matter under consideration specifically affects a Member State, such Member State shall have the right to representation in accordance with section 3 (j) of article XII. 10. The text of paragraph 1 (a) of Appendix D should read as follows: "(a) Each Member State or each group of Member States that has transferred the right to cast as many votes as has been allocated, appoints one member of the Council to the Council, who is the Governor, minister in the Government of the Member State or a person holding a position of comparable rank, and may appoint no more than seven assistants. The Board of Governors, by a majority of eighty-five percent of the total number of votes, may change the number of assistants who may be appointed. A member of the Board or an assistant holds his position until a new appointment is made, or until the next regular election of Executive Directors, whichever occurs earlier." 11. Delete the text of paragraph 5 (e) of Appendix D. 12. Renumber paragraph 5 (f) of Appendix D to paragraph 5 (e) of Appendix D, and the text of the new paragraph 5 (e) should read as follows: "(e) When the Executive Director is entitled to cast the votes allocated to a Member State pursuant to Section 3 (i) (iii) of Article XII, the member of the Council appointed by the group of Member States that elected such Executive Director shall have the right to vote and cast as many votes as were allocated to such Member State. Such a Member State is considered to have participated in the appointment of a member of the Council who has the right to vote and is entitled to cast as many votes as have been allocated to such a State." 13. The text of the paragraph of Appendix E should be worded as follows: "Transitional provisions regarding Executive Directors 1. After the entry into force of this supplement: (a) Each Executive Director who has been appointed pursuant to the former provisions of sections 3 (b) (i) or 3 (c) of Article XII and has held office immediately prior to the entry into force of this Addendum shall be deemed to have already been elected by the Member State that appointed him, and (b) Each Executive Director who, immediately prior to the entry into force of this Amendment, cast as many votes as are allocated to a Member State in accordance with section 3 (i) (iii) of Article XII shall be deemed to, that he has already been elected by such a Member State." 14. The text of paragraph 1 (b) of Appendix L should read as follows: "(b) does not appoint a Governor or Deputy Governor, does not appoint or participate in the appointment of a member of the Board or an alternate member of the Board, does not elect or participate in the election of an Executive Director." 15. The text of the preamble of paragraph 3 (c) of Appendix L should read as follows: "(c) The Executive Director elected by such Member State, or in whose election such Member State participated, shall be dismissed from office, except in a situation in which such Executive Director was entitled to cast as many votes as were allocated to other Member States that were not temporarily deprived of the right to vote. In the latter case:"

The Board of Governors adopted the above Resolution, which comes into force on December 15, 2010.

I hereby certify that these texts are an authentic translation into Russian of certified copies of resolutions of the Board of Governors of the International Monetary Fund dated 04/28/2008 No. 63-2, dated 05.05.2008 No. 63-3 and dated 12/15/2010 No. 66-2.

Deputy Chairman of the National Bank of the Republic of Kazakhstan K. Kozhakhmetov

President

Republic of Kazakhstan

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