- (II) To repurchase or otherwise discharge its liability on all or part of its own outstanding borrowings.
Section 8. Miscellaneous operations
In addition to the operations specified elsewhere in this Agreement, the Bank shall have the power:
- (I) To buy and sell securities it has issued and to buy and sell securities which it has guaranteed or in which it has invested, provided that the Bank shall obtain the approval of the member in whose territories the securities are to be bought or sold.
- (II) To guarantee securities in which it has invested for the purpose of facilitating their sale.
- (III) To borrow the currency of any member with the approval of that member.
- (IV) To buy and sell such other securities as the Directors by a three-fourths majority of the total voting power may deem proper for the investment of all or part of the special reserve under Section 6 of this Article.
In exercising the powers conferred by this Section, the Bank may deal with any person, partnership, association, corporation or other legal entity in the territories of any member.
Section 9. Warning to be placed on securities
Every security guaranteed or issued by the Bank shall bear on its face a conspicuous statement to the effect that it is not an obligation of any government unless expressly stated on the security.
Section 10. Political activity prohibited
The Bank and its officers shall not interfere in the political affairs of any member; nor shall they be influenced in their decisions by the political character of the member or members concerned. Only economic considerations shall be relevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purposes stated in Article I.
Article V
Organization and Management
Section 1. Structure of the Bank
The Bank shall have a Board of Governors, Executive Directors, a President
