## IMF Quotas

## Source details

**Canonical URL:** [IMF Quotas](https://www.imf.org/en/about/factsheets/sheets/2022/imf-quotas)

## Other formats

- [Markdown version](/en/about/factsheets/sheets/2022/imf-quotas/index.md)
- [Structured JSON version](/en/about/factsheets/sheets/2022/imf-quotas/index.json)
- [Bundle manifest](/en/about/factsheets/sheets/2022/imf-quotas/bundle-manifest.json)

## Bibliographic details
- Published: December 19, 2023

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### What IMF quotas are
- Quotas are the building blocks of the IMF’s financial and governance structure.
- An individual member country’s quota broadly reflects its relative position in the world economy.
- Quotas are denominated in Special Drawing Rights (SDRs), the IMF’s unit of account.

### How the IMF uses quotas
- Quotas underpin members’ balance of payments financing capacity and the IMF’s ability to help meet members’ financing needs.
- Quotas determine members’ voting power and access to IMF resources.

### General quota reviews
- The IMF's Board of Governors conducts general quota reviews at least every five years.
- A general review addresses:
  - the size of an overall quota increase; and
  - the distribution of the increase among members.
- A member may request an ad hoc quota adjustment at any time outside of a general review.
- Any changes in quotas require approval by 85% of the total voting power.
- A member’s own quota cannot be changed without its consent.

### The quota formula
- A quota formula is used to help assess members’ relative position in the world economy and can guide distribution of quota increases.
- The current formula was agreed to in 2008.

### Latest review of quotas
- The 14 th General Review of Quotas was completed in 2010 and became effective in 2016; it was part of a package of reforms to IMF quotas and governance and aimed to better reflect the increasing role of dynamic emerging market and developing countries.
- The 15 th General Review of Quotas concluded in 2020 with no increase in quotas and provided guidance for the 16 th Review.
- The Board of Governors concluded the 16 th quota review in December 2023, approving an increase in quotas by 50 percent.
- The next step is for member countries to consent to their respective quota increases.

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## References

- [Special Drawing Rights (SDRs)](https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR)
- [14 th General Review of Quotas](https://www.imf.org/en/News/Articles/2015/09/14/01/49/pr1625a)
- [15 th General Review of Quotas](https://www.imf.org/en/News/Articles/2020/02/13/pr2050-imf-board-of-governors-approves-a-resolution-on-quota-reviews)
- [concluded the 16 th quota review](https://www.imf.org/en/News/Articles/2023/12/18/pr23459-imf-board-governors-approves-quota-increase-under-16th-general-review-quotas)

_Source: https://www.imf.org/en/about/factsheets/sheets/2022/imf-quotas_