site.btaBNB Governor Receives Mandate to Vote in Favour of IMF 16th General Review of Quotas

By its decision, the Council of Ministers mandated the governor of the Bulgarian National Bank (BNB), as governor for the Republic of Bulgaria at the International Monetary Fund (IMF), to vote in favour of a draft Resolution by the Fund's Board of Governors regarding the Sixteenth General Review of Quotas.

After three years of preparatory discussions, on November 7, the IMF Board of Executive Directors approved a proposal to the Board of Governors to conclude the Sixteenth General Review of Quotas, on which the Governors should vote in absentia by December 15. The draft of the decision envisages an equal proportional increase in the quotas of all member countries in the amount of 50%.

The aim is to provide support for increasing the IMF's lending resources to help member countries address the many global crises and challenges, including through new quotas.