ArmInfo. On February 6, the Armenian Cabinet, on behalf of the Republic of Armenia, gave its consent to increase the RA quota based on the 16th General Review of Quotas adopted by the Board of Governors of the International Monetary Fund (IMF).
As reported on the IMF website, the Board of Governors of the International Monetary Fund completed the 16th General Review of Quotas on December 15, 2023, and approved an increase in the quotas of IMF member countries by 50% (SDR 238.6 billion, or US$320 billion), bringing the total quota to SDR 715.7 billion (US$960 billion).
"I look forward to the timely implementation of this important agreement by the membership."
As stated in the explanation to the decision of the RA government, the review was proportional in nature, and all IMF member states were offered to subscribe to a 50% increase in their quota.
Currently, the quota of the Republic of Armenia in the IMF is 128.8 million SDR (Special Drawing Rights), which is 0.03% of the total IMF quota, according to which the Republic of Armenia has 0.05% of the votes in the IMF Board of Governors. As a result of the 16th review of IMF quotas, the quota of the Republic of Armenia is also proposed to be increased by 50% to 193.2 million SDR.
The quota will be paid from the Central Bank.
