1、 March 26, 2014 IMF Quota and Governance Reforms Overview What Is the Issue? The International Monetary Fund (IMF, the Fund) is the multilateral organization focused on the international monetary system. In December 2010, the United States and the other 187 IMF member countries agreed to a reform pa
2、ckage that addresses two major concerns about the institution: (1) that the representation of emerging and developing economies at the IMF does not reflect their contribution to the global economy; and (2) that the size of the IMFs financial resources has not kept pace with increased economic activi
3、ty in the global economy. The reform package would double the IMFs general resources and update the governance structure to increase the IMF member contributions (known as quota) and voting power of developing and emerging market economies, and reduce the total voting power of European countries and
4、 reduce Europes representation on the IMFs Executive Board, its main governing body. “These reforms will lead to a major overhaul of the Funds voice and governance, strengthening the Funds legitimacy and effectiveness.” IMF Press Release No. 10/477, December 16, 2010 What Is the State of Play? The q
