Press Release No. 14/10

Press Release: Statement by IMF Managing Director Christine Lagarde on IMF Quota Reform

January 13, 2014

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

"I am disappointed that necessary steps could not be taken to implement this important governance reform. The world is evolving, and we are fully committed to helping our membership finalize what it agreed in 2010 is needed to ensure that the Fund keeps pace with global change and helps meet emerging challenges. We understand that the U.S. administration will continue to work on securing the necessary legislative authorization, and we are hopeful that this will happen.

The IMF remains fully committed to pursuing implementation of the governance reforms that have been agreed to make the Fund an even more effective and representative institution."

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