On September 19, the IMF announced in a news brief that it had released a report, prepared by outside experts, that reviewed the formulas used to calculate members’ quotas. The experts had been charged with ascertaining if the quota formulas reflected, with reasonable accuracy, members’ relative position in the world economy as well as their relative need for, and contributions to, the IMF’s financial resources. Changes in the functioning of the world economy and the international financial system were considered, as was the increasing globalization of markets. The report contained recommendations to simplify the formulas and make them more up-to-date.
The full text of News Brief 00/90 is available on the IMF’s website (www.imf.org).