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Relations with the IMF and the WB

On 20 September 1990, the Czech and Slovak Federal Republic (CSFR) adopted the Articles of Agreement of the International Monetary Fund (the "Agreement"). On that date, the former Czechoslovakia´s membership of the Bretton Woods institutions was renewed. The CSFR became the 152 nd member of the IMF. Following the split of the CSFR into the Czech Republic and Slovak Republic, membership succession was ensured for both countries on 1 January 1993.

The Czech Republic´s quota is SDR 2 180.2 million.

All debts to the IMF were paid off in 1994. The Czech Republic achieved currency convertibility within the framework of its current account operations in compliance with Article VIII of the Agreement on 1 October 1995.

One of the major areas of mutual co-operation between the Czech Republic and the IMF are the Article IV consultations, the aim of which is to assess the state of the Czech economy and to submit recommendations for its further development.