THIRTEENTH GENERAL REVIEW OF QUOTAS

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 for the Thirteenth Review will end on January 28, 2008. The Executive Board has established a Committee of the Whole in accordance with Rule D-3. The Committee's report contained the following proposed Resolution for adoption by the Board of Governors. In accordance with Section 13 of the By-Laws, the following Resolution was submitted to the Governors on January 2, 2008 for a vote without meeting:

RESOLVED:

THAT the Board of Governors, having noted the report of the Executive Board entitled Thirteenth General Review of Quotas-Report of the Executive Board to the Board of Governors, hereby resolves to conclude this review under Article III, Section 2(a) with no proposal to increase quotas. It notes the intention of the Executive Board during the period of the Fourteenth General Review, which the Articles of Agreement provide commences upon completion of the present review, to monitor closely and assess the adequacy of Fund resources.

Resolution 63-1,

January 28, 2008.