IMF 16th Quota Review

"On December 15, 2023, the Board of Governors of the International Monetary Fund (IMF) concluded the 16th General Review of Quotas and approved an increase of IMF members quotas by 50 percent (SDR 238.6 billion, or US$320 billion), which will bring total quotas to SDR 715.7 billion (US $960 billion).[1] When the voting deadline ended on December 15, 2023, Governors representing 92.86 percent of the total voting power had cast votes in favor of the Resolution, exceeding the 85 percent required."

"The Board of Governors’ Resolution, which is based on a recommendation by the IMF's Executive Board from November 7 (see Press Release No. 23/383), also provides guidance on the size of the IMF’s lending capacity and the mix of resources. Specifically, the Resolution envisages maintaining the IMF’s current lending capacity through a combination of the approved increase in quota resources and reduced reliance on borrowed resources. When the quota increase becomes effective, borrowed resources comprising the New Arrangements to Borrow (NAB) would be reduced and the Bilateral Borrowing Agreements would be phased out. Proposals for a reduction in the size of the NAB and transitional arrangements for maintaining access to Fund borrowing will be discussed by the Executive Board in early 2024 following consultations with creditors."