Czech Republic to increase its quota in the IMF

The Czech Republic is planning to more than double its quota in the IMF, a move that should strengthen its position in the organization. Currently the country’s quota amounts to 1,002 billion Special Drawing Rights. The Finance Ministry’s proposal, approved by the government on Wednesday, envisages an increase to 2,180 billion Special Drawing Rights. A member country's quota determines its maximum financial commitment to the IMF, its voting power, and has a bearing on its access to IMF finances.