Abstract

The General Resources Account (GRA) is the principal account in the General Department and handles by far the largest part of transactions between the IMF and its membership, most notably, payments to the IMF for quota subscriptions, purchases (drawings) and repurchases (repayments) by members, receipt of periodic charges (analogous to interest) on the use of IMF resources, and disbursements for remuneration on remunerated reserve tranche positions.6 Members’ quotas determine the size of the IMF and constitute its financial base. These resources can be supplemented, if circumstances so warrant, by borrowed resources whose receipt, use, and repayment are also handled through the GRA.