Policy Papers

This paper recaps the findings of previous staff work on the adequacy of Fund resources and tests the robustness of the earlier analysis. It also updates the quota database by one year through 2016 and the previous illustrative simulations of possible reforms of the quota formula. Finally, the paper explores possible approaches to distributing a quota increase, including earlier illustrative simulations of distributions based primarily on the quota formula and alternative approaches that could combine a limited further reform of the formula in areas where there is broad support with additional elements outside the formula to help build consensus.