Quota and Voice Reform - Key Elements of a Potential Package of Reforms

The IMFC in its October 2007 Communiqué called on the Executive Board to continue its work on quota and voice reform in order to allow agreement on all elements of a reform package by Spring 2008. To facilitate progress toward this goal, this paper suggests the possible contours of such a reform package. The package outlined is intended to be consistent with the objectives set out in the Singapore Resolution (Appendix 1), which were to make significant progress in realigning quota shares with economic weight in the global economy and, equally important, to enhance the participation and voice for low-income countries. It also reflects the further guidance provided in the IMFC’s October 2007 Communiqué, including the goal of agreeing on all elements of the package by Spring 2008.