There is an increasing likelihood that the International Monetary Fund (IMF) will do an interim deal on changes to its quota system, according one of its executives on Friday.
Rakesh Mohan, an Executive Director at the IMF, said in London: “there’s more and more likelihood that something like that will happen.”
He said that one of the options could be small increases in the shares of countries like China and India.
That will also probably result in the U.S quota share falling from its current 17.7 per cent, although there is a limit of 15 per cent that it cannot fall below, he said.
Each member country of the IMF is assigned a quota based on its relative position in the world economy.
This determines its maximum financial commitment to the IMF and its voting power.
