Fifteenth General Review of Quotas—Quota Formula and Realigning Shares PDF Download
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Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1513571206
Category : Business & Economics
Languages : en
Pages : 234
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Book Description
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.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1513571206
Category : Business & Economics
Languages : en
Pages : 234
Get Book Here
Book Description
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.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513560085
Category : Business & Economics
Languages : en
Pages : 4
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Book Description
Following the guidance on the Board of Governors Resolution No. 72-1 (December 2016), on April 3, 2018, the Executive Board discussed and adopted its second semi-annual report on progress on the Fifteenth Review. The report covered issues relating to both the adequacy of Fund resources and the quota formula and realigning quota shares, discussed in an informal meeting on February 2, 2018 and building on the earlier discussions in the fall of 2017.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1513526456
Category : Business & Economics
Languages : en
Pages : 5
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Book Description
On January 16, 2020, the Executive Board adopted a Report to the Board of Governors proposing that the Board of Governors adopt a Resolution concluding the Fifteenth General Review of Quotas with no increase in quotas and providing guidance for the Sixteenth General Review of Quotas in line with the IMFC guidance in the October 19, 2019 Communiqué. The Resolution was adopted by the Board of Governors, effective February 7, 2020, and was designated No. 75-1.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 151355994X
Category : Business & Economics
Languages : en
Pages : 5
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Book Description
Following the guidance on the Board of Governors Resolution No. 72-1 (December 2016), on October 4, 2017, the Executive Board discussed and adopted its first semi-annual report on progress on the Fifteenth Review. The report covered issues related to the quota formula and realigning quota shares as well as issues related to the adequacy of Fund resources, discussed in informal meetings on September 1 and on September 15, 2017, respectively.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498345115
Category : Business & Economics
Languages : en
Pages : 7
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Book Description
In the report, the Executive Board proposes that the Board of Governors adopt a Resolution: (i) noting the Report of the Executive Board and expressing regret that the timetable for completing the Fifteenth Review established under Resolution No. 71-2 is no longer within reach; (ii) calling on the Executive Board to work on the Fifteenth Review expeditiously in line with existing Executive Board understandings and the guidance provided by the IMFC on October 8, 2016 with the aim of completing the Fifteenth Review by the 2019 Spring Meetings and no later than the 2019 Annual Meetings; (iii) requesting that the Executive Board report on progress on the Fifteenth Review to the Board of Governors semiannually, with a first report by the 2017 Annual Meetings; and (iv) urging the remaining members who have not yet consented to their quota increases under the Fourteenth General Review of Quotas to do so without further delay and urging the members who have consented to their quota increases to make their quota payments in a timely manner.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498341438
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
The IMF staff has updated individual member country data for the variables used in the quota formula for the period 1999-2011; the tables also include the comparable value of each variable for the previous quota dataset, which was based on data covering the period 1998-2010. 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 quota formula is also included (Table A4). 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 (see Box 1 in Reform of Quota and Voice in the International Monetary Fund-Draft Report of the Executive Board to the Board of Governors). Data sources and a description of the quota variables are discussed in Quota Formula – Data Update and Further Considerations - Statistical Appendix; IMF Policy Paper; June 2013. Download Quota Data: Updated IMF Quota Formula Variables - July 2013
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498345360
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
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
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
A strong, quota-based, and adequately resourced IMF at the center of the Global Financial Safety Net is essential to safeguard global financial stability in an uncertain and shock-prone world. Building on three years of Committee of the Whole meetings, Executive Directors’ feedback, and recent guidance from the International Monetary and Financial Committee (IMFC), this paper sets out for consideration of the Executive Board a proposal for the conclusion of the Sixteenth General Review of Quotas (16th Review) with a 50 percent quota increase allocated to members in proportion to their quotas (“equiproportional increase”). The paper includes for the Executive Board’s approval a Report by the Executive Board to the Board of Governors (BoG) on such an increase, including a draft BoG Resolution. The proposed increase in quotas, once in effect, would replace Bilateral Borrowing Agreements and be linked to a rollback in credit arrangements under the New Arrangements to Borrow, in order to maintain the Fund’s lending capacity. The proposed quota increase would strengthen the quota-based nature of the Fund by reducing its reliance on borrowing, thus ensuring the primary role of quotas in Fund resources. Transitional arrangements for borrowed resources may be needed to maintain the Fund’s lending capacity beyond 2024 until the quota increase becomes effective. Given significant differences in views among members about the quota formula and how to implement a realignment of quota shares, the proposed equiproportional distribution of the quota increase would leave quota shares of members unchanged at this time. However, the membership has signaled the urgency and importance of quota share realignment to better reflect members’ relative positions in the world economy, while protecting the quota shares of the poorest members. Thus, the proposed BoG Resolution includes guidance, building on the recent IMFC discussions, namely to work to develop, by June 2025, possible approaches as a guide for further quota realignment, including through a new quota formula. This work would begin after conclusion of the 16th Review.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1513571311
Category : Business & Economics
Languages : en
Pages : 177
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Book Description
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.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498344437
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
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
