The International Monetary Fund is preparing to approve an initial restructuring of its quota system at annual meetings in Singapore on 19-20 September, giving greater representation to four fast-growing economies: China, South Korea, Türkiye, and Mexico.
IMF quotas, which have been largely unchanged since the fund's founding in 1945, govern three key matters for each of the organization's 184 member states: financial contributions, voting weight, and borrowing access.
Under the proposed reforms, China's share of total votes would climb from 2.94 percent to 3.65 percent, while South Korea's would rise sharply from 0.76 percent to 1.33 percent. Mexico's allocation would increase from 1.20 percent to 1.43 percent, and Türkiye's from 0.45 percent to 0.55 percent.
Currently, the United States holds the largest single voting share at 17.08 percent, followed by Japan at 6.13 percent and Germany at 5.99 percent. Critics have argued that several European nations, including Belgium and the Netherlands, hold disproportionately large quotas relative to their current economic standing.
Historical summary. TurkishPress restated this wire report, first published in September 2006, in its own words.