International Monetary Fund (IMF) Quota

International Monetary Fund (IMF) executive board approves 50% quota increase to strengthen resources following the guidance from the International Monetary and Financial Committee (IMFC) at the 2023 annual meetings.

Quotas are the building blocks of the IMF’s financial and governance structure which are denominated in Special Drawing Rights (SDRs), the IMF’s unit of account.
Reflection – An individual member country’s quota broadly reflects its relative position in the world economy.
Usage of IMF Quotas

Currently, India has a quota of special drawing rights (SDR) 13,114.4 million which denotes a share of 2.75%, making it the 8^th largest quota-holding country in the IMF. Based on the quota, India has 132,063 votes, which denotes a share of 2.63%.

Quota revival – The IMF’s board of governors conducts general reviews at least every 5 years.

Any changes in IMF quotas require approval by 85% of the total voting power, and a member’s own quota cannot be changed without its consent.

Significance of quota increase – It would enhance the IMF’s permanent resources and strengthen the quota-based nature of the fund by reducing the reliance on borrowing.

It would safeguard global financial stability and respond to members’ potential needs in an uncertain and shock-prone world.

Source:

Join Our Telegram

Worldwide Governance Indicators (WGI)

Comptroller and Auditor General of India (CAG)

Pradhan Mantri Suryodaya Yojana

06 Feb, 24
SHARE

Recently, Prime Minister announced Pradhan Mantri Suryodaya Yojana under which 1 crore households will get rooftop solar power systems. India’s Status of Current Solar Capacity India currently stands at 4th place globally in solar power capacity. As per Ministry of New an

Foreign Contribution Regulation Act (FCRA)- NGO

06 Feb, 24
SHARE

The Foreign Contribution Regulation Act, 2010 (FCRA) registration of two prominent non-governmental organisations (NGOs) — Centre for Policy Research (CPR) and World Vision India (WVI) have been cancelled this month. What is FCRA? Key provisions of FCRA, 2010 Key aspects Description

Voice clone-AI

06 Feb, 24
SHARE

Voice clone fraud has been on the rise in India. AI voice cloning – It is the process of creating a synthetic replica of a person’s voice through machine learning and speech synthesis technology.It is called as voice deepfakesor audio deepfakes. Objective – To achieve a high level of na

Science communication- how to promote

06 Feb, 24
SHARE

Steps taken by India to promote Science Communication Publications and Information Directorate (PID) - An organisation under Council of Science and Industrial Research (CSIR) established in 1951 for publishing and disseminating scientific information in India. National science magazines- The PI

Universal Basic Income (UBI)- Analysis

05 Feb, 24
SHARE

Universal Basic Income (UBI) can strengthen welfare architecture and unlock the nation’s latent demographic potential. UBI - It is an income support mechanism typically intended to reach all or a very large portion of the population regardless of their earnings or employment status. Objective- To provide enough to co