IMF Finances

IMF Executive Board Discusses Quota Formulas

Statistical Appendix to Alternative Quota Formulas--Further Considerations
May 3, 2002

Alternative Quota Formulas:
Further Considerations

Prepared by the Treasurer's and Statistics Departments
(In cooperation with other Departments)

May 3, 2002

Download the full document - 225kb pdf file

Use the free Adobe Acrobat Reader to view the pdf files.
This paper is the latest in a series which have considered issues related to the possible revision of the formulas used by the Fund in helping to determine quotas of members.

Contents
I.   Introduction
II.   Variable Definition and Data Issues
   
  1. GDP
  2. Openness
  3. Variability
  4. Official Reserves
III.   Weights of Variables in Quota Formula
   
  1. Illustrative Variable Weights Based on a
       Priori Judgments
  2. Illustrative Variable Weights that Target a
       Certain Distribution of Quota Shares
IV.   Additional Approaches
   
  1. Predetermination of Quota Shares
  2. Multiple Formulas
  3. Out-of-Lineness
V.   Basic Votes
VI.   Conclusions and Issues for Discussion
Boxes

  1. Investment Income Data
  2. Trade and International Banking Interest Adjustments
  3. Implications of Correlated Variables in Quota Formulas
  4. Mr. Kelkar's Proposal
  5. A Constant in the Quota Formula
Tables
  1. Distribution of Variables in World Totals:
       GDP and Openness
  2. Distribution of International Investment Position of
       Reporting Members
  3. Distribution of Variables in World Totals:
       Variability and Reserves
  4. Calculated Quota Shares: Equal Weights of Variables
  5. Calculated Quota Shares: GDP with Largest Weight
  6. Calculated Quota Shares: Targeting a Specific
       Distribution of Quota Shares
  7. Calculated Quota Shares: Predetermination
  8. Calculated Quota Shares: Two Formulas
  9. Mr. Kelkar's Current Voting Power Proposal
  10. Illustrative Voting Shares: No Change in
       Quotas and Increased Basic Votes
  11. Illustrative Voting Shares: General Quota
       Increase and Increased Basic Votes