The IMF's resources
The IMF’s resources come from quotas contributed by each of its 187 Member States (around £234bn in total) and from standing credit arrangements with certain industrialised and emerging economies (currently around £215bn).
The IMF’s resources come from quotas contributed by each of its 187 Member States (around £234bn in total) and from standing credit arrangements with certain industrialised and emerging economies (currently around £215bn). From these resources, the IMF lends money to countries in difficulty. The pressures of the global financial crisis in 2008 led to standing credit arrangements being significantly expanded, and motivated proposals for a doubling in quotas. The eurozone debt crisis has led to further calls for an expansion of the IMF’s resources.
In the UK, increases to the quota and to standing credit arrangements must be made through secondary legislation, approved by affirmative resolution of the Commons. The UK can currently lend up to SDR39bn to the IMF without the need for further legislation.