Estonia to boost its stake in the IMF by 175 million euros

  • 2012-05-03

TALLINN - The Estonian government sent to the Riigikogu a draft decision that approves of increasing Estonia's share in the IMF by nearly 175 million euros and authorizes Estonia's central bank Eesti Pank to carry out the necessary actions to increase the quota, LETA/Public Broadcasting reports.

After all that, the share of the Estonian Republic will form 0.077 percent (currently 0.068 percent) of the total volume of IMF quota. Increasing the quota in the IMF improves the relative representation and voting rights of fast developing member states, including Estonia, in the IMF decision-making institutions, the government press bureau said.

The decision does not affect the state budget as the IMF quota payment will be made by Eesti Pank.