IMF Quota and SDR Reforms: Building an International Architecture Capable of Responding to Evolving Challenges
Event description:
The International Monetary Fund (IMF) is currently undoing its 16th General Review of Quotas, a process mandated in the IMF Articles of Agreement to reassess whether the Fund is adequately resourced and if the quota-system reflects the global economy. Such a review would directly impact allocation of Special Drawing Rights (SDRs), or the IMF’s international reserve asset, that proved to be a vital resource following the allocation of $650 billion worth of SDRs in response to the COVID-19 pandemic.
The Fund is conducting its 16th General Review at a critical time as emerging market and developing economies (EMDEs) are facing a ‘crisis of development,’ spurred by overlapping crises of debt, climate shocks, inflation, geopolitical conflict and more. At a moment where all countries should be engaging in ambitious investment in climate resilient development, the global community risks a devastating reversal of progress on achieving the UN 2030 Sustainable Development Goals if the international financial architecture cannot be reformed to meet the needs of the moment.
What impact could the IMF’s 16th General Review of Quotas have on the distribution of SDRs? How should the quota system be reformed to elevate voice and representation of EMDEs? How could quota and SDR reform catalyze necessary changes to global economic governance?
On Friday, October 13 from 11:15-12:45 PM WEST, join us for a 2023 IMF/World Bank Annual Meetings Civil Society Policy Forum panel on quota reform at the IMF.
Cosponsors: ActionAid, Bretton Woods Project, Boston University Global Development Policy Center, ChristianAid, National Center for Development Cooperation (CNCD-11.11.11), Friedrich Ebert Stiftung, MenaFem.
Speakers:
- Paulo Nogueira Batistia, Author and Economist; former Brazilian Executive Director to the IMF; former Vice President of the New Development Bank
- Ndongo Samba Sylla, Programme and Research Manager, Rosa Luxemburg Foundation
- Chikumbutso Ngosi, Programme Manager, Young Urban Women, ActionAid International Malawi
- Karim Trabelsi, Economist and director of the research department at the Tunisian trade union UGTT
- Andreas Bauer, Deputy Director, Finance department, International Monetary Fund
- Shereen Talaat (Moderator), Director/Founder, MenaFem Movement
Sample messages
During the IMF/World Bank Annual Meetings Civil Society Policy Forum, tune in on Fri., October 13 for a discussion ft’ing:
🌐 @paulonbjr
🌐 @nssylla
🌐 @ChikumbutsoNgo1
🌐 @shereent
🌐 Karim Trabelsi
More details + tune in here:
How could the @IMFNews 16th General Review of Quotas catalyze necessary reforms of the international financial architecture? @ChikumbutsoNgo1 @paulonbjr @nssylla @shereent + others discuss on Fri., Oct. 13. More details: