quota

The Executive Board of the International Monetary Fund has proposed a 50% quota increase allocated to members, including Ghana, in proportion to their current quotas. This will be subject to the Board of Governors' approval. The proposal follows the guidance from the International Monetary and Financial Committee (IMFC) at the 2023 Annual Meetings. According to the Fund, the quota increase would help safeguard global financial stability by enhancing the IMF’s permanent resources and reducing reliance on borrowed resources. The proposal envisages that once quota increases are in effect, borrowed resources comprising the Bilateral Borrowing Agreements and New Arrangements to Borrow (NAB) would be reduced…