IMF wants Member Contributions to Increase by 50%

The International Monetary Fund wants to increase contributions by its members by 50% to provide a financing resource to countries that need its help.

"Increasing the quotas would increase the permanent resources of the IMF and strengthen the quota-based nature of the fund, reducing the dependence on loans and thus guaranteeing the main role of quotas in the resources of the IMF," the statement of the financial organization also stated, quoted from BTA.

The proposal envisages that once the quota increases take effect, borrowing resources, including the Bilateral Borrowing Agreements and the New Borrowing Arrangements, will be reduced.

...