S.L. 209.1 Art. 2Declaration. Cap. 209.

It is hereby declared:

(a) that the Central Bank of Malta and the International Monetary Fund shall be entering into an agreement with a view to lend to the Fund a Special Drawings Rights-denominated amount subject to the relevant provisions of the Agreement, and in accordance with Article VII, Section 2(i) of Schedule (Section 2) of the Malta Membership of the International Monetary Fund Act (hereinafter referred to as "the Loan Agreement");

(b) the Special Drawings Rights-denominated amount being loaned by the Central Bank of Malta under the Loan Agreement will be up to the equivalent of two hundred and sixty million euro (€260,000,000);

(c) that it is expedient that those arrangements under the Loan Agreement should take effect upon the entry into force of the Loan Agreement and in accordance with the relevant provisions of the Loan Agreement;

(d) that the Loan Agreement shall enter into force immediately upon the signing thereof.