International Monetary Fund (IMF)
The IMF is an international organisation of 191 member countries that oversees the international monetary system and lends to members with balance-of-payments problems, usually with policy conditions attached. Each member has one governor on the Board of Governors, usually its finance minister or central bank governor, and day-to-day decisions are taken by a 25-member Executive Board chaired by the Managing Director (IMF factsheet, April 2025). Voting power is based mainly on each member's quota.
Who leads it
- Managing Director: Kristalina Georgieva (since 1 October 2019 (second term started 1 October 2024)) (imf.org)
- UK Governor: John Healey (Chancellor of the Exchequer) (since 20 July 2026 (appointed Chancellor)) (gov.uk)
The UK and the IMF
The UK has been a member since 27 December 1945 and has a quota of SDR 20,155.1 million (IMF country page for the United Kingdom). The Chancellor of the Exchequer acts as the UK Governor of the IMF (gov.uk role description for the Chancellor).
Key figures
| Figure | Value | Source |
|---|---|---|
| Member countries (factsheet last updated April 2025) | 191 | IMF, read 16 October 2026 |
| Executive Board (factsheet last updated April 2025) | 25 members | IMF, read 16 October 2026 |
| Total quotas after the 14th General Review (factsheet last updated May 2025) | SDR 477 billion (US$640 billion) | IMF, read 20 October 2026 |
| 16th General Review of Quotas (concluded December 2023) | 50% quota increase approved by the Board of Governors; members must now consent to their increases | IMF, read 20 October 2026 |
| New Arrangements to Borrow (NAB) (factsheet last updated May 2025) | SDR 364 billion | IMF, read 20 October 2026 |
| Bilateral borrowing agreements (factsheet last updated May 2025) | SDR 141 billion (US$188 billion) from 42 effective agreements | IMF, read 20 October 2026 |
| Lending capacity (as stated on the page when read) | about $1 trillion | IMF, read 20 October 2026 |
| Staff (as stated on the page when read) | about 3,100 | IMF, read 20 October 2026 |
| UK quota (as shown when read) | SDR 20,155.1 million | IMF, read 16 October 2026 |
| UK SDR holdings (as shown when read) | SDR 28,925.87 million | IMF, read 16 October 2026 |
| IMF arrangements with the UK since membership (as shown when read) | 11 | IMF, read 16 October 2026 |
| Last UK Article IV consultation (Executive Board) (as shown when read) | 21 July 2025 | IMF, read 16 October 2026 |
What it decides
- Oversees the international monetary system and each member's compliance with its obligations (Articles of Agreement, Article IV, Section 3 – surveillance). For the UK this is the annual Article IV consultation.
- Sets policies on the use of its general resources, which is the legal basis for lending conditions (Article V, Section 3). The IMF states that 'policy conditionality is typically integral to IMF lending'.
- Agrees quota increases through General Reviews of Quotas; quotas set members' voting power and access to IMF resources.
- Decision-making bodies: a Board of Governors, an Executive Board, a Managing Director and staff (Article XII, Section 1).
- Voting: each member receives basic votes (an equal share of 5.502% of total votes) plus one vote for each SDR 100,000 of quota (Article XII, Section 5).
Records you can check
- IMF members' quotas and voting powerQuota, governor and voting share for every member
- IMF country page: United KingdomUK quota, SDR holdings, Article IV reports and Board discussions
- Members' financial data by countryEach member's quota, reserve position, SDR holdings and outstanding credit, by date
- Articles of AgreementThe IMF's founding treaty, including voting and lending rules
- Lending factsheetIMF lending instruments and their conditions
Common questions
How many countries are in the IMF?
191 member countries, according to the IMF's 'IMF at a Glance' factsheet (last updated April 2025).
What is the UK's quota at the IMF?
SDR 20,155.1 million, according to the IMF's United Kingdom country page. Quotas set a member's voting power and access to IMF resources.
Who represents the UK at the IMF?
The Chancellor of the Exchequer acts as the UK Governor of the IMF, according to gov.uk. John Healey was appointed Chancellor on 20 July 2026.
Has the UK ever borrowed from the IMF?
Yes. The IMF's United Kingdom page lists 11 arrangements since the UK joined on 27 December 1945.
Who runs the IMF?
Managing Director Kristalina Georgieva, in post since 1 October 2019; her second term started on 1 October 2024 (IMF biography).
How are IMF votes shared out?
Each member gets an equal share of basic votes (together 5.502% of all votes) plus one vote for every SDR 100,000 of quota, under Article XII, Section 5 of the Articles of Agreement.
Other bodies at level 9
- African Development Bank
- Asian Development Bank
- Asian Infrastructure Investment Bank
- Bank for International Settlements
- Basel Committee on Banking Supervision
- European Bank for Reconstruction and Development
- European Investment Bank
- Financial Stability Board
- Paris Club
- World Bank Group
Sources
- IMF at a Glance (factsheet), read 16 October 2026
- IMF: United Kingdom country page, read 16 October 2026
- Where the IMF Gets Its Money (factsheet), read 20 October 2026
- IMF Quotas (factsheet), read 20 October 2026
- About the IMF, read 20 October 2026
- IMF Articles of Agreement, read 20 October 2026
- Kristalina Georgieva biography, read 20 October 2026
- IMF Lending (factsheet), read 20 October 2026
- GOV.UK: The Rt Hon John Healey MP, Chancellor of the Exchequer, read 20 October 2026