Press Release No. 14/127

Press Release: Statement by IMF Managing Director Christine Lagarde on IMF Quota and Governance Reforms

March 25, 2014

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today after reports that the U.S. Congress had not adopted a measure necessary for the U.S. to ratify the 2010 Quota and Governance Reforms:

“I am utterly disappointed that the necessary legislative steps have not been taken by the U.S. Congress to allow these important reforms to be implemented without further delay. These reforms would both strengthen the IMF’s capacity to respond to our members’ needs and help to make its governance more representative of our dynamic membership.

“I will personally continue to work together with my management colleagues and staff to support completion of the reforms by the membership and hope that the U.S. authorities will give it the high priority that it deserves.”

Without ratification by the U.S., the 2010 Quota and Governance Reforms cannot become effective.

Useful links:

IMF Executive Board Approves Major Overhaul of Quotas and Governance

IMF Quota and Governance Publications

Quota Factsheet

How the IMF Makes Decisions Factsheet