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; (iii) regretted that the Fifteenth Review had not been completed by December 15, 2015, as mandated by the Articles of Agreement and as requested in Board of Governors Resolution No. 70–1, and resolved to continue the Fifteenth Review under Article III, Section 2(a) and called on the Executive Board to work expeditiously on the Fifteenth Review in line with previous Executive Board understandings, and with the aim of completing the Fifteenth Review by the 2017 Annual Meetings; and (iv) requested that the Executive Board report to the Board of Governors on progress
manner; (iii) regretted that the Fifteenth Review had not been completed by December 15, 2015, as mandated by the Articles of Agreement and as requested in Board of Governors Resolution No. 70-1, and resolved to continue the Fifteenth Review under Article III, Section 2(a) and called on the Executive Board to work expeditiously on the Fifteenth Review in line with previous Executive Board understandings, and with the aim of completing the Fifteenth Review by the 2017 Annual Meetings; and (iv) requested that the Executive Board report to the Board of Governors on
I. Introduction 1. The Board of Governors has called on the Executive Board to work expeditiously on the Fifteenth General Review of Quotas (hereafter the 15 th Review) in line with existing Executive Board understandings and guidance provided by the International Monetary and Financial Committee (IMFC) on October 8, 2016. 1 As set out in the Board of Governors’ Resolution, this work should be completed by the Spring Meetings of 2019, and no later than the Annual Meetings of 2019. At its October 8 meeting, the IMFC reaffirmed its commitment to a strong
Governors that the initiation of its work on the Fifteenth Review had been delayed in order to facilitate the implementation of the 2010 Reforms. 3 The Board of Governors expressed its deep regret that the Fourteenth Review and the Board Reform Amendment had not become effective and, in February 2015, called for the completion of the Fifteenth Review in line with previous Executive Board understandings, and by December 15, 2015 as mandated under the Articles of Agreement. 4 3. On December 15, 2015, the Executive Board notified the Board of Governors that the work on
1. In December 2016, the Board of Governors adopted Resolution No. 72–1 on the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”), which, inter alia, (i) called on the Executive Board to work expeditiously on the Fifteenth Review in line with existing Executive Board understandings and the guidance provided by the International Monetary and Financial Committee (IMFC) on October 8, 2016, and with the aim of completing the Fifteenth Review by the 2019 Spring Meetings and no later than the 2019 Annual Meetings; and (ii) requested that the
completion of the Fifteenth General Review of Quotas (hereinafter the “Fifteenth Review”) to January 2014; WHEREAS the Board of Governors called in Resolution No. 70–1 for the completion of the Fifteenth Review in line with previous Executive Board understandings, and by December 15, 2015 as mandated by the Articles of Agreement; WHEREAS the Executive Board reported to the Board of Governors on December 15, 2015 that work on the Fifteenth Review was delayed in light of the delay in the implementation of the quota and governance reforms agreed in 2010 and that, as a
expeditiously on the Fifteenth Review in line with previous Executive Board understandings and with the aim of completing the Fifteenth Review by the 2017 Annual Meetings; WHEREAS the Executive Board had reported to the Board of Governors on October 3, 2016 on its work on the Fifteenth Review, recognizing that, in light of significant divergences of views that exist on many key issues for the Fifteenth Review, further reflection was needed on how best to take the work forward; WHEREAS the International Monetary and Financial Committee reaffirmed on October 8, 2016 its