## IMF Members' Quotas and Voting Power, and IMF Board of Governors

## Source details

**Canonical URL:** [IMF Members' Quotas and Voting Power, and IMF Board of Governors](https://www.imf.org/en/about/executive-board/members-quotas)

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- [Markdown version](/en/about/executive-board/members-quotas/index.md)
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### Board of Governors: role and composition
- The Board of Governors is the highest decision-making body of the IMF.
- Composition:
  - Consists of one governor and one alternate governor for each member country.
  - The governor is appointed by the member country and is usually the minister of finance or the governor of the central bank.
- Powers and meetings:
  - All powers of the IMF are vested in the Board of Governors.
  - The Board of Governors may delegate to the Executive Board all except certain reserved powers.
  - The Board of Governors normally meets once a year.

### Quotas, voting shares, and quota increases
- The table (referenced) shows quota and voting shares for IMF members.
- Following the entry into force of the Board Reform Amendment on January 26, 2016:
  - Members who have consented to their quota increases can pay their quota increases under the 14th General Review of Quotas.
  - Quota and voting shares will change as members pay their quota increases.
  - During this process, the table will be updated regularly.

### Participation and special notes
- Participation in the Special Drawing Rights Department:
  - At the present time all 191 members are participants in the Special Drawing Rights Department.1
- Voting power caveat:
  - Voting power varies on certain matters pertaining to the General Department with use of the Fund's resources in that Department.2
- Article VIII obligations:
  - These countries have accepted the obligations of Article VIII, Sections 2, 3, and 4 of the Articles of Agreement.3
- Rounding:
  - This figure may differ from the sum of the percentages shown for individual countries because of rounding.4

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## References

- [Special Drawing Rights](https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR)

_Source: https://www.imf.org/en/about/executive-board/members-quotas_