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Decision Ex.V/2: Extension of the fixed-exchange-rate mechanism to the 2021–2023 replenishment of the Multilateral Fund

  1. To direct the Treasurer to extend the fixed-exchange-rate mechanism to the period 2021–2023;
  2. That parties choosing to pay their contributions to the Multilateral Fund for the Implementation of the Montreal Protocol in national currencies will calculate their contributions on the basis of the average United Nations exchange rate for the six-month period commencing 1 January 2020;
  3. That, subject to paragraph 4 of the present decision, parties not choosing to pay in national currencies pursuant to the fixed-exchange-rate mechanism will continue to pay in United States dollars;
  4. That no party should change the currency selected for its contribution during the triennium 2021–2023;
  5. That only parties with inflation rate fluctuations of less than 10 per cent for the preceding triennium, pursuant to published figures of the International Monetary Fund, will be eligible to use the fixed-exchange-rate mechanism;
  6. To urge parties to pay their contributions to the Multilateral Fund in full and as early as possible in accordance with paragraph 7 of decision XI/6;
  7. To agree that, if the fixed-exchange-rate mechanism is to be used for the replenishment period 2024–2026, parties choosing to pay their contributions in national currencies will calculate their contributions on the basis of the average United Nations exchange rate for the six-month period commencing 1 January or 1 July ending at least three months prior to the replenishment to be decided.