
Economy
IMF Board Approves Plan to Increase Lending Resources Without Shareholding Changes, By Reuters
The International Monetary Fund (IMF) announced on Tuesday that its executive board has approved a plan to increase the quota resources contributed by member countries by 50%. This increase will be in line with each country’s current shareholdings in the IMF.
The proposal is primarily based on a plan supported by the United States, aimed at boosting the lending resources of the IMF. However, it will postpone any increases in shareholdings for emerging economies like China, India, and Brazil. Additionally, the IMF’s board has requested a faster schedule to develop options for adjusting the Fund’s quota formula, with a target date set for June 2025.