Fourteenth General Review of Quotas - Updated Data Set and Quota Calculations
Fourteenth General Review of Quotas - Updated Data Set and Quota Calculations

Author: International Monetary Fund. Legal Dept.

Publisher: International Monetary Fund

Published: 2010-07-15

Total Pages: 53

ISBN-13: 1498337317

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In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund Activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the United States Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.

Fourteenth General Review of Quotas - Realigning Quota Shares - Further Considerations
Fourteenth General Review of Quotas - Realigning Quota Shares - Further Considerations

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2010-10-08

Total Pages: 163

ISBN-13: 1498337244

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In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Bank of Slovenia agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 280 million, on the terms and conditions set out in this paper.

Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations
Fourteenth General Review of Quotas - Realigning Quota Shares - Initial Considerations

Author: International Monetary Fund. Strategy, Policy, & Review Department

Publisher: International Monetary Fund

Published: 2010-03-24

Total Pages: 150

ISBN-13: 1498337767

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This note provides operational guidance and background information on the use of Fund resources for budgetary financing. It does this in the context of concerns expressed by some Executive Board Directors that, by providing such financing, the Fund might be held accountable for the quality of budgetary spending; that repayment could be subject to country budgetary processes; and that budget financing is the role of other institutions.

Fifteenth General Review of Quotas—Quota Formula and Realigning Shares
Fifteenth General Review of Quotas—Quota Formula and Realigning Shares

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2021-03-05

Total Pages: 234

ISBN-13: 1513571206

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This paper provides background for an initial discussion under the Fifteenth General Review of Quotas (15th Review) in line with the work plan agreed by the Executive Board. It discusses issues related to further reforms of the quota formula and realigning quota shares, based on updated quota data through 2015. A companion paper, to be discussed separately, will address issues related to the size of the Fund and mix of quota and borrowed resources. Both these papers seek to facilitate initial discussions on some of the key issues for the 15th Review. No proposals are made at this stage, recognizing that further deliberations will be needed before the issues under discussion can begin to be narrowed down.

Fifteenth General Review of Quotas— Additional Considerations and Data Update
Fifteenth General Review of Quotas— Additional Considerations and Data Update

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2021-03-05

Total Pages: 177

ISBN-13: 1513571311

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This paper provides background for a further round of discussions on the Fifteenth General Review of Quotas (hereafter 15th Review). The paper builds on work presented in previous staff papers and Directors’ views expressed in three meetings of the Committee of the Whole in September 2017 and February 2018. No proposals are presented at this stage, pending further Board guidance on possible approaches to narrowing the current differences of views.

Quota Formula Review - Data Update and Issues
Quota Formula Review - Data Update and Issues

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2011-08-17

Total Pages: 29

ISBN-13: 1498338585

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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.

Quota Formula - Data Update
Quota Formula - Data Update

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2015-06-19

Total Pages: 40

ISBN-13: 1498344437

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The IMF staff has updated individual member country data for the variables used in the quota formula for the period 2001-13. The staff paper also presents updated calculated quota shares based on the current quota formula. The current quota formula includes a GDP variable, which is a blend of GDP at market rates and GDP at purchasing power parity (PPP), openness, variability, and international reserves. The International Monetary and Financial Committee has called for agreement on a new quota formula as part of the 15th General Review of Quotas. The paper presents a limited set of illustrative simulations of possible reforms of the quota formula using the updated quota data. These simulations are purely illustrative and do not represent proposals. The new data tables that can be downloaded via the below link include also the comparable value of each variable for the previous quota dataset, which was based on data covering the period 2000-2012. The information is presented in millions of SDRs (Table A1) and in percent of their respective global totals (Tables A2 and A3). A table showing calculated quota shares based on the current quota formula is also included (Table A4). Data sources and a description of the quota variables are discussed in Quota Formula – Data Update - Statistical Appendix; IMF Policy Paper; July 2015. Download Quota Data: Updated IMF Quota Formula Variables - July 2015

Quotas - Updated Calculations and Quota Variables
Quotas - Updated Calculations and Quota Variables

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2009-08-27

Total Pages: 97

ISBN-13: 1498335659

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In its April 2009 Communiqué, the IMFC called for a prompt start to the Fourteenth General Review of Quotas so that it is completed by January 2011--some two years ahead of schedule. The IMFC noted that the review is expected to result in increases in the quota shares of dynamic economies, particularly in the share of emerging market and developing countries as a whole. The IMFC also looked forward to further work by the Executive Board on elements of the new quota formula that can be improved before the formula is used again, and noted that this work should start before the 2009 Annual Meetings.

Quota Formula Review - Data Update and Further Considerations
Quota Formula Review - Data Update and Further Considerations

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2012-06-28

Total Pages: 38

ISBN-13: 1498340334

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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.

Quotas - Data Update and Simulations
Quotas - Data Update and Simulations

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2016-09-08

Total Pages: 85

ISBN-13: 1498345360

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The quota database has been updated by one year through 2014. Overall, the results of the update continue the broad trends observed in previous updates, but the shifts between the main country groups are generally smaller. Using the current quota formula, the calculated quota share of Emerging Market and Developing Countries (EMDCs) as a group increases by 0.6 percentage points relative to the 2015 update to 49.3 percent, which is about half the increase in the last update. The paper takes stock of recent discussions on the quota formula, including the outcome of the Quota Formula Review in 2013 and subsequent discussions in the context of the annual quota data updates. It also updates the illustrative simulations of possible reforms of the quota formula presented previously, using the latest data. These simulations have sought to capture possible reforms that would be broadly in line with the conclusions of the Quota Formula Review and Directors’ guidance is sought on the relative merits of these reforms and the most productive areas for future work. Download Quota Data: Updated IMF Quota Formula Variables - September 2016