2016年-IMF国际货币组织全球_Extension_of_the_Periods_for_Consent_to_and_Payment_of_Quota_Increases_6页_381kb

IMF Policy Paper Summary: Extension of the Periods for Consent to and Payment of Quota Increases

Core Content

This IMF policy paper outlines proposals to extend the periods for consent to and payment of quota increases under the Fourteenth General Review of Quotas (Fourteenth Review) and the 2008 Reform of Quota and Voice. The aim is to align the timelines for these processes and facilitate smoother administrative procedures.

Main Points

1. Proposed Extensions

• Consent Period for Fourteenth Review Quota Increases:
  The period for members to consent to quota increases under the Fourteenth Review is proposed to be extended to December 30, 2016, from the original deadline of June 30, 2016.

• Payment Period for Fourteenth Review Quota Increases:
  The payment period for quota increases under the Fourteenth Review is also proposed to be extended to December 30, 2016, for members whose payments would otherwise be due earlier. The payment is to be made within 30 days after the member notifies the Fund of its consent, or after the general effectiveness conditions are met, whichever is later.

• Payment Period for 2008 Reform Quota Increases:
  The payment period for quota increases under the 2008 Reform is proposed to be extended to December 30, 2016, for Eritrea and the Syrian Arab Republic, who have not yet completed their payments.

2. Context and Rationale

• The extension is based on Board of Governors Resolution No. 66-2, which allows the Executive Board to extend the consent period as it deems necessary.
• The extension would also apply to quota increases under the 2008 Reform and the Eleventh General Review of Quotas.
• As of June 24, 2016, 10 members had not yet consented to their quota increases under the Fourteenth Review.
• Somalia and Sudan are not eligible to consent due to protracted arrears in the General Resources Account.
• Some members require additional time to complete internal procedures for quota payments, and the IMF staff is working with them to facilitate timely arrangements.

3. Purpose of the Extension

• To streamline administrative procedures and adopt associated decisions in a coordinated manner.
• To encourage timely consent and payment from members who have not yet acted.
• To ensure compliance with the Fund's transparency policy, which allows for the deletion of market-sensitive information and the avoidance of premature disclosure of policy intentions.

Key Information

• Document Type: IMF Policy Paper
• Release Date: June 27, 2016
• Approved By: Andrew Tweedie
• Prepared By: Finance Department (in consultation with Legal and Secretary's Departments)
• Extension Duration: A uniform six-month extension to both consent and payment periods.
• Affected Members:
  • 10 members under the Fourteenth Review who have not yet consented.
  • Eritrea and the Syrian Arab Republic under the 2008 Reform.
• Deadline for Consent and Payment:
  • December 30, 2016 (6:00 p.m., Washington time) for all extended periods.

Proposed Decisions

The following three decisions are proposed for adoption by the Executive Board:

1. Decision 1: Extend the consent period for Fourteenth Review quota increases to December 30, 2016.
2. Decision 2: Extend the payment period for Fourteenth Review quota increases to December 30, 2016, for members whose payments would otherwise be due earlier.
3. Decision 3: Extend the payment period for quota increases under the 2008 Reform for Eritrea and the Syrian Arab Republic to December 30, 2016.

These decisions are subject to approval by a majority of the votes cast by the Executive Board.

Appendix I: Status of Members' Consents

As of June 24, 2016, the following 10 members have not yet consented to their quota increases under the Fourteenth Review:

• Bolivia
• Micronesia, Federated States of
• Bosnia and Herzegovina
• Nauru
• Cabo Verde
• Somalia
• Eritrea
• Sudan
• Kyrgyz Republic
• Syrian Arab Republic

Note: Nauru joined the Fund on April 12, 2016, and its membership resolution provides for an initial quota to be paid within six months after accepting membership, as well as an increase under the Fourteenth Review, if consent is given.