Selected Decisions and Selected Documents of the International Monetary Fund
Chapter

L. Increases in Quotas of Members—Tenth General Review

Author(s):
International Monetary Fund
Published Date:
August 1997
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Report of the Executive Board to the Board of Governors

Article III, Section 2(a) of the Articles of Agreement provides that “[t]he 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 for the Tenth Review will end on March 31, 1993. The Executive Board has established a Committee of the Whole in accordance with Rule D-3. The Committee has not yet been in a position to undertake a substantive review of the issues relating to the Tenth Review including a review of the quota formulas, as called for in its report to the Board of Governors on the Ninth Review. As a consequence, the Executive Board is not in a position to make recommendations in time for the Board of Governors to adopt a resolution completing the Tenth General Review by March 31, 1993. Therefore, the Executive Board proposes that the Board of Governors decide to continue its review under Article III, Section 2(a), to request the Executive Board to complete its work on the matter and to submit a report to the Board of Governors together with appropriate proposals not later than December 31, 1994.

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 12, 1993

Attachment: 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—Tenth 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 a report together with appropriate proposals to the Board of Governors not later than December 31, 1994.

Adopted by the Board of Governors, effective April 14, 1993, and designated No. 48-3.

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