The International Monetary Fund (IMF) is undergoing profound changes, not only in its policies, but also in its internal governance. These changes reflect the structural developments in the global economy, and in particular the growing role of emerging economies that demand a greater say at the...

The present paper does not claim to solve the Columbus' egg conundrum. There even may not be a "silver bullet" formula that would convince the entire membership. However, there may be a simpler, more transparent formula that produces more intuitive and more equitable results for the distribution...