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International Monetary Agreements Amendment Bill 2013

Introduced into the House of Representatives on 14 March 2013
Portfolio: Treasury

1.1        This bill seeks to amend the International Monetary Agreements Act 1947 to provide a standing appropriation and authority to borrow for payments to meet drawings made by the International Monetary Fund (IMF) under a bilateral loan agreement between Australian and the IMF that was singed on 13 October 2012. Under the agreement the IMF may make drawings of loans from Australia only if its existing quota and New Arrangements to Borrow resources are insufficient to support its lending to borrowing member countries.

Compatibility with human rights

1.2        The bill is accompanied by a self-contained statement of compatibility that states that the bill 'does not engage any of the applicable rights or freedoms' and is therefore compatible with human rights.

1.3                 The committee considers that the bill does not give rise to issues of incompatibility with human rights.

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