Status of Members' Consents to Increases in Quotas Under the Eleventh General Review
Last updated: August 20, 2010The Board of Governors of the IMF approved on January 30, 1998 an increase in members' quotas under the Eleventh General Review of Quotas. A member's quota in the IMF—in addition to providing the primary source of financing of the IMF—determines its capital subscription, its voting power, its allocations of SDRs, and also forms the basis for decisions on its access to IMF financing. Since the Executive Board reported to the Board of Governors recommending an increase in total IMF quotas on December 23, 1997, this became the date for determining the participation requirement—that members with 85 percent of quotas on December 23, 1997 consent to their quota increase. On January 22, 1999, the IMF, following consents to total quota increases from members with more than 85 percent of total quotas, determined that the participation requirement had been met so that the overall increase could enter into effect.
The period for members to consent to increases in their quotas has been extended on multiple occasions. Most recently, on September 2, 2010, the Executive Board agreed to extend until September 23, 2011 the period for members to consent to quota increases. This extension was granted in order to allow more time for those members that have protracted arrears to the Fund to clear their arrears so that they can consent to and pay for their quota increases under the Eleventh General Review.
As of August 20, 2010, 181 eligible members, accounting for more than 99 percent of quotas on December 23, 1997, have consented to increases in their respective quotas (see table below). Two members (Somalia and Sudan), currently in arrears to the Fund, are ineligible to consent to or pay for their quota increases until they become current.
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Afghanistan, Islamic State of |
Djibouti |
Lesotho |
Samoa |