- Selected Decisions of the Executive Board and Selected Documents
- Article III: Quotas and Subscriptions
- ARTICLE IV: Exchange Arrangements
- Article V, Section 2(b): Financial and Technical Services
- ARTICLE V, SEC. 3(A), (B), AND (C): Use of Fund's Resources
- Article V, Section 3(d) and (f): Media of Payment
- Article V, Section 5: Ineligibility to Use the Fund’s General Resources
- Article V, Section 6: Sales of SDRs by the Fund
- Article V, Section 7: Repurchases
- Article V, Sections 8 and 9: Charges and Remuneration
- Article V, Sections 10 and 11: Rates for Computations and Maintenance of Value
- Article V, Section 12(f): Special Disbursement Account*
- Article VI, Section 1: Use of Fund’s Resources for Capital Transfers
- Article VI, Section 3: Controls on Capital Transfers
- Article VII: Borrowing
- Article VIII, Section 2(b): Unenforceability of Exchange Contracts
- Article VIII and Article XIV: Payments Restrictions
- Payments Arrears
- Payments Policies
- Multiple Currency Practices
- Voluntary Declaration on Trade and Other Current Account Measures
- Article VIII, Section 5: Furnishing of Information
- Article IX, Section 5: Immunity of Archives
- Article IX, Section 7: Privilege for Communications
- Article X: Relations with Other International Organizations
- Article XII, Section 3: Executive Directors
- Article XII, Section 7: Publication of Reports
- Article XIV: Restrictions on Payments and Transfers: Withdrawal
- Article XV, Section 2: Valuation of the Special Drawing Right
- Article XVII, Section 3: Special Drawing Rights: Other Holders
- Article XVIII, Section 2: Allocation of Special Drawing Rights
- Article XIX, Section 2: Special Drawing Rights: Additional Uses
- Article XIX, Section 5: Designation of Participants to Provide Currency
- Article XIX, Section 6: Reconstitution
- Article XIX, Section 7(a): Exchange Rates
- Article XX, Section 2: Charges
- Article XXVI: Compulsory Withdrawal
- Article XXX(C): Calculation of Reserve Tranche: Exclusion of Purchases and Holdings
- Article XXX(f): Freely Usable Currencies
- General: Trust Fund
- Subsidy Account
- Selected Resolutions of the Board of Governors and Related Documents
- A. Request for Interpretation of the Articles of Agreement as to the Authority of the Fund to Use Its Resources
- B. Resolution of the United Nations General Assembly 377(V) Entitled “Uniting for Peace”
- C. Composite Resolution on the Work of the Ad Hoc Committee on Reform of the International Monetary System and Related Issues and on a Program of Immediate Action
- Interim Committee: Rules of Procedure
- Development Committee: Rules of Procedure
- Development Committee: Changes in the Organization of Work and Structure of the Secretariat Function
- D. Increases in Quotas of Members-Sixth General Review
- E. Increases in Quotas of Fund Members—Seventh General Review
- F. Increases in Quotas of Members—Eighth General Review
- G. Increases in Quotas of Members—Ninth General Review
- H. Increases in Quotas of Members—Ninth General Review
- I. Increases in Quotas of Member—Ninth General Review
- J. Increases in Quotas of Members—Ninth General Review
- K. Increases in Quotas of Fund Members—Ninth General Review
- L. Increases in Quotas of Members—Tenth General Review
- M. Increases in Quotas of Members-Tenth General Review
- N. Allocation of Special Drawing Rights for the First Basic Period
- O. Allocation of Special Drawing Rights for the Third Basic Period
- P. Report of the Managing Director to the Board of Governors and to the Executive Board Pursuant to Article XVIII, Section 4(c)
- Selected Documents Relating to the Fund and Other International Organizations
- A. Agreement Between the United Nations and the International Monetary Fund*
- B. United Nations Convention on the Privileges and Immunities of the Specialized Agencies and Annex V*
- Agreement for the Establishment of the Joint Vienna Institute
G. Increases in Quotas of Members—Ninth General Review
- International Monetary Fund
- Published Date:
- August 1997

Report of the Executive Board to the Board of Governors
1. Article III, Section 2(a) of the Articles of Agreement provides that “The Board of Governors shall at intervals of not more than five years conduct a general review, and if it deems it appropriate propose an adjustment, of the quotas of the members.” The five-year period since the completion of the previous review will end on March 31, 1988. This report and the attached draft resolution are submitted to the Board of Governors, the organ competent under the Articles to deal with an adjustment of quotas, in accordance with Article III, Section 2.
2. In the course of the past year, the Executive Board has considered various aspects of the adjustment of quotas, including the formulas used to calculate quotas, the variables used in those formulas, the method of calculating quotas, and updated quota calculations. The Executive Board has also considered the need for and the size of an increase in the total of quotas, the techniques and criteria that might be considered in distributing a total increase among members, and matters relating to the payment of the increased subscriptions. While the Executive Board has concluded consideration of certain technical aspects of its work, it has not completed work on a number of substantive issues. Consequently, the Executive Board is not. in a position to make recommendations in time for the Board of Governors to adopt a resolution completing the Ninth General Review by March 31, 1988.
3. The Interim Committee considered the subject of the Ninth General Review of Quotas during the twenty-ninth meeting of the Committee in Washington on September 27-28, 1987. Paragraph 7 of the Communiqué issued at the conclusion of the meeting reads as follows:
The Committee noted that the Committee of the Whole on the Ninth General Review of Quotas has begun its work by considering preliminary quota calculations and reviewing issues bearing on the size of the Fund. The Committee urged Executive Directors to pursue their work on the Ninth General Review of Quotas so as to be in a position to make appropriate recommendations in due course.
The Managing Director intends to make a progress report on the Ninth General Review to the Interim Committee at the next meeting of the Committee on April 14, 1988.
4. The Executive Board proposes to continue its work on this subject and to submit a report to the Board of Governors, together with appropriate recommendations regarding the size of the overall increase in quotas, increases in the quotas of individual members, and on the mode of payment of increases in subscriptions, not later than April 30, 1989.
5. In view of the foregoing considerations, it is recommended that the Board of Governors adopt the resolution set forth in the attachment to this report.
March 18, 1988
Proposed Resolution of the Board of Governors*
Resolved:
That the Board of Governors, having noted the report of the Executive Board entitled Increases in Quotas of Members—Ninth General Review, hereby resolves to continue its review under Article III, Section 2(a) and requests the Executive Board to complete its work on this matter and to submit appropriate proposals to the Board of Governors not later than April 30, 1989.
Adopted by the Board of Governors, effective April 22, 1988, and designated No. 43-1.