Quota Formula Review - Initial Considerations

Policy Papers ◽  
2012 ◽  
Vol 2012 (84) ◽  
Author(s):  
Keyword(s):  
Developing Countries ◽  
Emerging Market ◽  
Governance Reform ◽  
Executive Board ◽  
Comprehensive Review ◽  
Board Of Governors ◽  
Recent Meeting ◽  
Economic Weights ◽  
The Voice ◽  
Governance Reforms

The Board of Governors has asked the Executive Board to complete a comprehensive review of the quota formula by January 2013. This review is an mportant part of the 2010 quota and governance reforms. At the Seoul Summit, G-20 Leaders welcomed the reforms, which they noted include “Continuing the dynamic process aimed at enhancing the voice and representation of emerging market and developing countries, including the poorest, through a comprehensive review of the quota formula by January 2013 to better reflect the economic weights; and through completion of the next general review of quotas by January 2014.” At its most recent meeting in September 2011, the IMFC stressed that governance reform is crucial to the legitimacy and effectiveness of the IMF. The IMFC committed to intensify its efforts to meet the 2012 Annual Meetings target for effectiveness of the 2010 reform, and called for a report on progress in the quota formula review by the time of its next meeting.

Quota and Voice Reform - Stocktaking and Further Considerations, Statistical Appendices I and II, Statement by the Managing Director, and Summing Up of the Board Meeting

Policy Papers ◽  
2007 ◽  
Vol 2007 (47) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Global Economy ◽  
World Economy ◽  
Emerging Market ◽  
Low Income Countries ◽  
Board Meeting ◽  
Executive Board ◽  
Board Of Governors ◽  
New Formula ◽  
The Voice

At its Spring Meeting, the IMFC reiterated the importance of implementing the program of quota and voice reforms in line with the timetable set out by the Board of Governors in Singapore. The Committee welcomed the initial informal Board discussions on a new quota formula and stressed the importance of agreeing on a new formula, which should be simple and transparent and should capture members’ relative positions in the world economy. It noted that this reform would result in higher shares for dynamic economies, many of which are emerging market economies, whose weight and role in the global economy have increased. The Committee also stressed the importance of enhancing the voice and participation of low-income countries, a key issue for which is an increase in basic votes, at a minimum preserving the voting share of low-income countries. The Committee called on the Executive Board to continue its work on the reform package as a matter of priority.

Interim Steps on Quota and Governance Reform - Report of the Executive Board to the Board of Governors

Policy Papers ◽  
2015 ◽  
Vol 2015 (17) ◽  
Author(s):  
Keyword(s):  
Governance Reform ◽  
Executive Board ◽  
General Review ◽  
Full Implementation ◽  
Board Of Governors ◽  
Board Reform ◽  
Do So ◽  
Governance Reforms

In light of continuing delays in the implementation of the 2010 quota and governance reforms (hereafter the “2010 Reforms”), the Board of Governors, in February 2015, adopted Resolution No. 70-1, which (i) expressed its deep regret that the quota increases under the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”) have not become effective, and that the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) has not been completed; (ii) emphasized the importance and urgency of the 2010 Reforms for the Fund’s credibility, legitimacy, and effectiveness, and reiterated its commitment to their earliest possible implementation; (iii) urged the remaining members who have not yet accepted the Fourteenth Review quota increases and the Board Reform Amendment to do so without further delay; (iv) called for the completion of the Fifteenth Review by December 15, 2015; and (v) called on the Executive Board to work expeditiously and to complete its work as soon as possible on interim steps in the key areas covered by the 2010 Reforms, pending their full implementation, and thus to enable the Board of Governors to reach agreement on steps that represent meaningful progress towards the objectives of the 2010 Reforms by June 30, 2015.

Quota Formula Review - Data Update and Further Considerations

Policy Papers ◽  
2012 ◽  
Vol 2012 (50) ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Executive Board ◽  
Comprehensive Review ◽  
General Review ◽  
The World ◽  
Data Update ◽  
The Voice ◽  
Governance Reforms

In March 2012, the Executive Board held its first formal discussion on the comprehensive review of the quota formula. This review, to be completed by January 2013, is an important part of the quota and governance reforms agreed in 2010. Directors stressed the importance of agreeing on a quota formula that better reflects members’ relative positions in the global economy for future discussions on the 15th General Review of Quotas. This view was reiterated in April by the IMFC, which looked forward to an agreement by January 2013: "…on a simple and transparent quota formula that better reflects members’ relative positions in the world economy." The IMFC also reaffirmed its commitment to complete the 15th quota review by January 2014. It noted that any realignment is expected to result in increases in the quota shares of dynamic economies in line with their relative positions in the world economy, and hence likely in the share of EMDCs as a whole; and that steps shall be taken to protect the voice and representation of the poorest members. The Board held an informal follow-up meeting on June 13, 2012.

Quota Formula Review - Data Update and Issues

Policy Papers ◽  
2011 ◽  
Vol 2011 (63) ◽  
Author(s):  
Keyword(s):  
Executive Board ◽  
Comprehensive Review ◽  
General Review ◽  
Board Of Governors ◽  
Data Update

At the conclusion of the 14th General Review of Quotas (14th Review), the Board of Governors requested that a comprehensive review of the quota formula be completed by the Executive Board by January 2013. The timetable for completing the 15th General Review was also brought forward by two years to January 2014. This paper is intended to serve as background for an initial informal exchange of views on issues relating to the formula review. It begins with a brief stock-take, before presenting the results of updating the quota database through 2009. The remainder of the paper discusses potential issues that could be considered as part of the review.

Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas—Status of Acceptances and Consents

Policy Papers ◽  
2012 ◽  
Vol 2012 (102) ◽  
Author(s):  
Keyword(s):  
Status Report ◽  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
The Status ◽  
Board Reform ◽  
Governance Reforms ◽  
The Imf

This status report reviews progress toward implementation of the 2010 Quota and Governance Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2.

Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas - Status of Acceptances and Consents

Policy Papers ◽  
2013 ◽  
Vol 2013 (2) ◽  
Author(s):  
Keyword(s):  
Status Report ◽  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
The Status ◽  
Board Reform ◽  
Governance Reforms ◽  
The Imf

This status report reviews progress toward implementation of the 2010 Quota and Governance Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2.

Outcome of the Quota Formula Review - Report of the Executive Board to the Board of Governors

Policy Papers ◽  
2013 ◽  
Vol 2013 (6) ◽  
Author(s):  
Keyword(s):  
Executive Board ◽  
Comprehensive Review ◽  
General Review ◽  
Board Of Governors

In completing the Fourteenth General Review of Quotas and approving the Proposed Amendment on the Reform of the Executive Board, the Board of Governors requested that the Executive Board complete a comprehensive review of the quota formula by January 2013. The Executive Board was also requested to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the 15th Review) to January 2014.

Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas--Status of Acceptances and Consents

Policy Papers ◽  
2013 ◽  
Vol 2013 (95) ◽  
Author(s):  
Keyword(s):  
Status Report ◽  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
The Status ◽  
Board Reform ◽  
Governance Reforms ◽  
The Imf

This status report reviews progress toward implementation of the 2010 Quota and Governance Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2.

scholarly journals Fifteenth General Review of Quotas—Notification from the Executive Board to the Board of Governors

Policy Papers ◽  
2020 ◽  
Vol 20 (008) ◽  
Author(s):  
Keyword(s):  
Governance Reform ◽  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
The Way

On October 15, 2019, the Executive Board notified the Board of Governors that the conclusion of the Fifteenth Review was part of a package on Fund resources and governance reform on which discussions were still ongoing, and that it would report to the Board of Governors by November 2019 on the outcome of discussions on the Fifteenth Review, the goals and timetable for the Sixteenth Review, and on the way forward on IMF resources.

2010 Reforms and Fifteenth General Review of Quotas - Report of the Executive Board to the Board of Governors - Decision

Policy Papers ◽  
2014 ◽  
Vol 2014 (6) ◽  
Author(s):  
Keyword(s):  
Executive Board ◽  
General Review ◽  
Board Of Governors ◽  
Board Reform ◽  
Governance Reforms ◽  
Forward Looking

In completing the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and approving the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”), the Board of Governors requested the Executive Board to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) to January 2014. The Executive Board was also requested to complete a comprehensive quota formula review by January 2013. These forward-looking elements were part of an agreed package of 2010 quota and governance reforms (hereafter the “2010 Reforms”). Each member committed to use its best efforts to complete the required steps for the effectiveness of the quota increases under the Fourteenth Review no later than the Annual Meetings in 2012

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