On September 18, 2006, the Board of Governors of the International Monetary Fund (IMF) adopted a Resolution on Quota and Voice Reform in the IMF. Members representing 90.6 percent of the total voting power cast votes in favor of the Resolution. Votes of Governors exercising 85 percent of the total voting power were required for adopting the Resolution.
The Resolution, which had been recommended by the IMF's Executive Board to the IMF Board of Governors, is a package of reforms on quotas and voice in the IMF (see Press Release No. 06/189). These reforms aim to better align the IMF's quota shares with members' relative positions in the world economy and to make it more responsive to changes to the global economy while, and equally important, enhancing the participation and voice of low-income countries in the IMF.
See full Press Release.
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