Christophe Destais
"L'argent du FMI"
La Lettre du CEPII N°330, February 2013, CEPII.
IMF loans and the adjustment programs which are attached to them are much talked about but the Fund’s financial resources are seldom mentioned. The latter are provided by Member states which commit to permanently finance the IMF within the limits of a certain amount, the so-called “quota”, and by loans which the richest of them agree to lend to the Fund, in particular in times of crisis. The exact measurement of these resources is however made difficult by the use of specific accounting concepts and the complexity of the Fund’s financial publications. Nevertheless, the available data on the Fund’s resources offer an insight on the current debate on the role of the emerging countries in the governance of the Fund, the optimal size of its balance sheet and the role which it plays or could play in the Eurozone crisis.
IMF ; International Monetary System ; quota