What is the second amendment to the IMF articles of agreement?

The Second Amendment to the IMF Articles of Agreement, adopted in 1965, primarily redefined the role of gold in the international monetary system. It eliminated gold as a basis for exchange rate stability and allowed for the use of currencies as the primary means of international transactions. The amendment also introduced the Special Drawing Rights (SDRs) as an international reserve asset to supplement member countries' official reserves. Overall, it aimed to enhance the flexibility and stability of the global monetary system.