IMF approves 50% quota increase to strengthen financial resources

The IMF’s Board of Governors concluded its sixteenth quota review on 15 December 2023 and approved a 50% increase in member quotas. The increase amounted to SDR 238.6 billion, taking the proposed total to SDR 715.7 billion. The Fund’s announcement set out further steps for members to consent to their increases.

Strengthening the Fund’s resources

The increase concerned the IMF’s permanent financial resources, supporting its capacity to respond to pressures on member economies. Approval still required members to consent to their individual increases. The decision therefore addressed the institution’s funding base, with implementation dependent on commitments being completed at national level.