Recently the International Monetary Fund has approved the proposal to increase the quota of its Executive Board members by 50 percent.

Recently the International Monetary Fund has approved the proposal to increase the quota of its Executive Board members by 50 percent.

Daily Current Affairs   /   Recently the International Monetary Fund has approved the proposal to increase the quota of its Executive Board members by 50 percent.

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Category : Business and economics Published on: November 15 2023

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  • In November 2023, the International Monetary Fund has announced that it will increase the quota of its members by 50 percent.
  • The quota of members will be increased as per their allotted quota.
  • Due to this I.M.F. Along with the permanent resources, the method of raising funds through quota will also be strengthened.
  • Doing this will reduce borrowing and ensure quota as the primary method of raising funds.
  • I.M.F. IMF Managing Director Kristalina Georgieva said the increase will help make the IMF's resources stronger, quota-based and substantially larger.
  • It focuses on strengthening the global financial safety net.
  • Besides this, I.M.F. Will be able to have adequate resources.
  • This proposal will now be voted on by the Board of Governors.
  • At present India's I.M.F. The stake in is 2.75%.
  • India IMF Is the eighth largest quota holder of.
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