IMF board split on quota reform options

Christine Lagarde

A disagreement has surfaced among members of the International Monetary Fund's (IMF) executive board over whether further changes to the quota formula are necessary to give emerging market countries a fair share of total voting power.

The quota formula determines the maximum countries may contribute to the IMF, and is closely linked to the vote share of each country. Since 2008 the formula has been determined with a 50% weight placed on GDP, 30% on openness, 15% on variability and 5% on reserves

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