IMF approves quota, voting powers reform for Turkey

International Monetary Fund approved the quota reform increasing the quotas and voting powers of a number of countries including Turkey.

IMF approves quota, voting powers reform for Turkey

International Monetary Fund (IMF) approved the quota reform increasing the quotas and voting powers of a number of countries including Turkey.

The Fund said in its official website, the Board of Governors "has approved a package of far-reaching reforms of the Fund's quotas and governance."

The proposed quota increases and the amendment to the Articles of Agreement needs the approval of the Member Countries in order to take effect.

With the adoption of the Resolution, the General Review of Quotas was also completed with an unprecedented doubling of quotas to approximately SDR 476.8 billion (about $733.9 billion) and a major realignment of quota shares among members.

Once the reforms takes effect, it will result in a shift of more than 6 percent of quota shares to dynamic emerging market and developing countries and more than 6 percent from over-represented to under-represented countries, while protecting the quota shares and voting power of the poorest members.


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Last Mod: 17 Aralık 2010, 13:51
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