EXPLANATORY NOTE
(This note is not part of the Order)
This Order increases the total amount that the United Kingdom can loan the International Monetary Fund (IMF) from 12,470 million to 18,657.38 million special drawing rights.
The limit was previously increased from 2,577 million to 12,470 million special drawing rights by the International Monetary Fund (Limit on Lending) Order 2009 (S.I. 2009/1830), which is revoked by this Order.
A special drawing right is the unit of account used by the IMF. Its value is calculated daily as a weighted average of the US dollar, euro, yen and pound sterling. Its value can be found on the IMF’s website (www.imf.org).