Extension of the Periods For Consent to and Payment of Quota Increases

On June 18, 2020, the IMF’s Executive Board approved an additional extension, for one year, of the period for members to consent to an increase in their quotas
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Volume/Issue: Volume 2020 Issue 034
Publication date: July 2020
ISBN: 9781513550510
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Topics covered in this book

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Exports and Imports , PP , quota payment , payment of quota , payment period , resolution , fund's General Resources Account , payment deadline , COVID-19 , Arrears

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Summary

On June 18, 2020, the IMF’s Executive Board approved an additional extension, for one year, of the period for members to consent to an increase in their quotas under the Fourteenth General Review of Quotas (“Fourteenth Review”) through June 30, 2021. The current deadline was due to expire on June 30, 2020. However, the Board of Governors Resolution No. 66-2 provides that the Executive Board may extend the period for consent as it may determine. An extension under Resolution No. 66-2 also extends the periods of consent for quota increases under the 2008 Reform of Quota and Voice (Resolution No. 63-2) and the Eleventh General Review of Quotas (Resolution No. 53-2). The Executive Board also approved an additional extension by one year of the period for payment of quota increases under the Fourteenth Review, and an extension for the payment of the quota increases under the 2008 Reform, through June 30, 2021.

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