The following is the provision of Article 8 of the International Monetary Fund Agreement: Being a member of Article 8 of the International Monetary Fund Agreement is a sign that a country can realize currency convertibility under the current account. According to Article 8 of the Agreement of the International Monetary Fund, a country becomes a member of Article 8 of the International Monetary Fund by canceling the restrictions on payment transfer under the current account and realizing currency convertibility under the current account. Specifically, the obligations of Article 8 Member States are: 1. The external payment and capital transfer corresponding to the purchase of goods and services under the current account by residents from abroad are not restricted. 2. Do not implement a discriminatory multiple exchange rate system. 3. The domestic currency accumulated by other member countries in current contacts shall be unconditionally converted into foreign exchange at the request of the other party. However, the country requesting the exchange must prove that this accumulation is obtained from the current transaction, and this exchange is to pay for the current transaction. The International Monetary Fund does not require all member countries to become Article 8 members immediately after joining the Fund. Article 14 of the Agreement of the International Monetary Fund has made some transitional arrangements, allowing member countries to temporarily keep some foreign exchange restrictions, but they should report to the International Monetary Fund every year to negotiate with the International Monetary Fund on the steps and timing of lifting foreign exchange controls. The following is taken from the original English text of the obligations in Article 8, paragraphs 2, 3 and 4 of the International Monetary Fund: