Press Information Bureau
Government of India
Ministry of Finance
25-October-2011 14:47 IST
The Union Cabinet today approved the increase in India’s quota in the International Monetary Fund (IMF) as a result of the Fourteenth General Review of Quotas.
When the Fourteenth General Review of Quotas becomes effective, it will result in a major realignment of quota shares among members to better reflect the global realities. All the BRIC countries would now be among the 10 largest quota shareholders at the IMF.
India’s quota share at the IMF will increase from 2.44% to 2.75%, making it the eighth largest quota holding country at the IMF. Significantly, India’s gain in terms of quota share is the seventh largest in this round of quota review. In absolute terms India’s quota will increase from SDR 5,821.5 million to SDR 13,114.4 million.
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