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April 2008 |
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This is the French quota share at the IMF after an agreement found by the Executive Board last March 28, to be ratified by the Board of Governors. This a 0.518 point cut compared to the pre-review quota, in September 2006. With the same quota share as the United Kingdom, France is now followed on the heels by China whose quota share has risen by one percentage point to now reach 3.997%. Furthermore, quota shares are now planned to converge to the figures given by the new formula, which would provide China with a 6.390% quota now and over 10% in 2030. Accounting for GDP in purchasing power parity rather than at current exchange rates in quota calculations raises the share of large, emerging economies in the short run; but it limits their subsequent increase. According to previous formulae, China could have reaped a 15% quota share in 2030. In any case, however, European shares are to decline, whereas that of the United States should stay relatively stable, this country retaining the only veto right for those decisions requiring a 85% threshold. The quota of each Member country determines its contribution to the Fund, its access to resources and, together with basic votes, its voting right. Recent discussions have essentially focused on the latter issue.
A European voice at the IMF, La Lettre du CEPII n° 216, October 2002 IMF Quotas at Year 2030, CEPII working paper, n° 2007-12 La Tribune Quota shares according to the April 2008 formula. |
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Quota shares according to the April 2008 formula
IMF : ill-tailored quota, La Lettre du CEPII, n° 268, July-August 2007
A European voice at the IMF, La Lettre du CEPII, n° 216, October 2002
IMF Quotas at Year 2030, Document de travail du CEPII, n° 2007-12
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