| Abstract: | This paper surveys various proposals to reform the IMF's quota determination process and voting regime. We first provide some necessary context by describing IMF decision rules, including the methods by which the Fund determines quotas according to countries’ relative positions in the world economy. This section also addresses the arbitrariness of the IMF quota determination process and how IMF decision rules hamper developing country influence within the Fund. Following this, we review several proposals designed to provide developing countries greater voice in IMF decision‐making. We conclude that the problems of developing country representation are not likely to be fixed by either reallocating quotas on the margins of the existing IMF system or by tinkering with the quota‐determination formulas. Rather, more fundamental institutional adjustments will be required. |
