IMF members approve 50% increase in quotas
Decision was not unanimous and leaves voting shares unchanged
The International Monetary Fund’s members have approved a 50% increase in quotas, boosting the fund’s capital without the reallocation of vote shares that many countries had demanded.
The agreement, reached by the IMF board of directors on December 15 and announced on December 18, completes the sixteenth round of quota reforms.
“The overwhelming support from our membership for this decision is a strong vote of confidence for the work of the fund,” said Kristalina Georgieva, IMF managing director
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