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Jakarta Post

Chance to push for IMF quota reform?

  • Awidya Santikajaya
    Awidya Santikajaya

    Head of section on multilateral affairs at the Foreign Ministry’s Policy Analysis and Development Agency

Jakarta   /   Thu, January 18, 2018   /  11:18 am
Chance to push for IMF quota reform? International Monetary Fund (IMF) sign. (Shutterstock/File)

The International Monetary Fund-World Bank annual meeting is among the most important international events Indonesia will be hosting this year. Serious preparations have begun for that event, which will be held in October in Nusa Dua, Bali, including promotion, security and a contingency scenario in case Mount Agung continues to erupt. One important topic that may draw much debate and attention is the quota reform of the IMF. Reforming international financial institutions has been regularly discussed in previous IMFWorld Bank meetings. These discussions were in response to a demand from developing countries, which are generally not satisfied with the current governance of the IMF and the World Bank. Their demand referred to the small representation of developing countries in both institutions. In the IMF, the governance’s top decision-makers are the 24 directors on its exe...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.