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Published online by Cambridge University Press: 22 May 2009
The government of Egypt paid $8,507,929.67 in gold and United States dollars to the International Monetary Fund on July 10,1950 in exchange for the equivalent amount in Egyptian pounds. Of the amount paid by Egypt to the Fund $829,766.03 was in gold and $7,678,163.64 in United States dollars. This payment, which became due in consequence of recent increases in Egypt's monetary reserves, fulfilled that country's obligation to use part of the increase to repurchase the Fund's holdings of Egyptian pounds in excess of 75 percent of Egypt's quota.
1 International Monetary Fund Press Release 139, July 17, 1950.
2 Ibid., 141. August 29, 1950.
3 International Financial Statistics, III, 08 1950Google Scholar.
4 Ibid.
5 International Monetary Fund, Annual Report of the Executive Directors for the Fiscal Year Ended April 30, 1950.