A difficult choice

Postponing IMF reforms in strategic interest

The recent meetings of the World Bank and the International Monetary Fund (IMF), held in Marrakech, Morocco, closed with an agreement on an “equi-proportional” increase in the IMF quota. This is the conclusion of the 16th review of IMF quotas. A quota review is meant to give the Fund more internal resources with which to lend its members. An increase in total quotas was urgently needed. A quota review normally involves an increase in contributions by all countries in proportions that are mutually decided. The last revision of quota proportions occurred in 2010. This time, however, as announced by Union