Page:United States Statutes at Large Volume 62 Part 2.djvu/1125

 2412 Availability of sums for U. S. expenditures in Ireland. 62 Stat., Pt. 1, p. 137. ,;2 Stat., Pt. 1, p.H1H54. Post, p. 2414. Withdrawals by Government of Ire- land from Special Account. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. 1948. The Government of the United States of America shall from time to time notify the Government of Ireland of the indicated dollar cost of any such commodities, services and technical information, and the Government of Ireland will thereupon deposit in the Special Account a commensurate amount of Irish pounds computed at a rate of exchange which shall be the par value agreed at such time with the International Monetary Fund; provided that this agreed value is the single rate applicable to the purchase of dollars for imports into Ireland. If at the time of notification a par value for the Irish pound is agreed with the Fund and there are one or more other rates appli- cable to the purchase of dollars for imports into Ireland or, if at the time of notification no par value for the Irish pound is agreed with the Fund, the rate or rates for this particular purpose shall be muturally agreed upon between the Government of Ireland and the Govern- ment of the United States of America. The Government of Ireland may at any time make advance deposits in the Special Account which shall be credited against subsequent notifications pursuant to this paragraph. 3. The Government of the United States of America will from time to time notify the Government of Ireland of its requirements for administrative expenditures in Irish pounds within Ireland incident to operations under the Economic Cooperation Act of 1948, and the Government of Ireland will thereupon make such sums available out of any balances in the Special Account in the manner requested by the Government of the United States of America in the notification. 4. Five per cent of each deposit made pursuant to this Article in respect of assistance furnished under authority of the Foreign Aid Appropriation Act, 1949, shall be allocated to the use of the Govern- mcnt of the United States of America for its expenditures in Ireland, and sums made available pursuant to paragraph 3 of this Article shall first be charged to tie amounts allocated undler this paragraph. 5. The Government of Ireland will further make such sums of Irish pounds available out of any balances in the Special Account as may be required to cover costs (including port, storage, handling and similar charges) of transportation from any point of entry in Ireland to the consignee's designated point of delivery in Ireland of such relief supplies and packages as are referred to in Article VI. 6. The Government of Ireland may draw upon any remaining balance in the Special Account for such purposes as may be agreed from time to time with the Government of the United States of America. In considering proposals put forward by the Government of Ireland for drawings from the Special Account, the Government of the United States of America will take into account the need for pro- moting or maintaining internal monetary and financial stabilization in Ireland and for stimulating productive activity and international trade and the exploration for and development of new sources of wealth within Ireland, including in particular: a) expenditures upon projects or programs, including those which are part of a comprehensive program for the development of

�