Recent Reforms of the Finances of the International Monetary Fund: An Overview

Abstract

Under its charter, the International Monetary Fund with its near universal membership of 187 countries – is charged with “oversee[ing] the international monetary system.” This chapter discusses the measures taken by the International Monetary Fund to reform its income model and to improve its financing capacity. It also touches on related developments, in particular International Monetary Fund governance reform, which is inextricably linked to the financing reform through the link of quota share and voting power in the International Monetary Fund, and the reform of the International Monetary Fund's financing facilities, i.e., the modalities through which the International Monetary Fund provides financing to its members, which also influence the size of the International Monetary Fund.