Which of the following changes were made to IMF's Articles of Agreement in the Jamaica agreement?
A) IMF members were permitted to use Dollar as the convertible currency.
B) Gold was declared as a formal reserve asset for IMF members.
C) IMF members were permitted to sell their gold reserves at the market price.
D) IMF members were restricted from entering the foreign exchange market.

Question

Quizplus · Accepted Answer

The Jamaica agreement, signed in 1976, permitted IMF members to sell their gold reserves at market prices. However, it did not permit the use of the dollar as a convertible currency, nor did it declare gold as a formal reserve asset for IMF members. There was no restriction placed on members entering the foreign exchange market.

Which of the Following Changes Were Made to IMF's Articles