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This status report reviews progress toward implementation of the 2010 Governance and Quota Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board ('Board Reform Amendment' or 'Seventh Amendment') as set out in the Board of Governors Resolution No. 66-2. For the proposed quota increases under the 14th General Review of Quotas to become effective, members having not less than 70 percent of the total of quotas on November 5, 2010 must consent to the increases in their quotas and the proposed Board Reform Amendment must have entered into force. The proposed Board Reform Amendment enters into force once the Fund certifies that three-fifths of the members (i.e., currently 113 members) representing 85 percent of the total voting power have accepted the proposed amendment.

Productivity accounting.

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This paper proposes a further six-month extension of the period for consent to increase quotas under the Fourteenth General Review of Quotas. The current deadline is due to expire on June 30, 2015; however, Board of Governor's Resolution No. 66-2 provides that the Executive Board may extend the period for consent as it may determine. An extension under Resolution No. 66-2 will also extend the periods of consent for quota increases under the 2008 Reform of Quota and Voice (Resolution No. 63-2) and the Eleventh General Review of Quotas (Resolution No. 53-2). As of June 10, 2015, 24 members have not yet consented to their proposed quota increases under Resolution No. 66-2 (see Appendix I). Once the conditions for effectiveness of the individual quota increases are met, members may then pay for their quota increases to make them effective.

Productivity accounting.

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This paper explores differences and similarities across formal and informal microenterprises in Senegal. It uses a new national sample of more than 500 firms, of which two-thirds are informal and over 95 percent are micro-size, employing five or fewer full-time employees. The analysis finds that formal firms have average performance outcomes that are in the range of three to five times higher than informal firms. Formal firms are also more likely than informal firms on average to possess "good" characteristics, namely assets and uses of digital technologies that are positively correlated with productivity, sales, exporting, and employment. Despite these average differences, informal firms are highly heterogeneous, with a sizable number similar to formal firms in terms of both performance outcomes and good characteristics: the share of informal firms in the top productivity and sales deciles having good characteristics is substantial, and one-third of all firms in the high-performance cluster based on a data-driven combination of the four performance variables are informal firms. Importantly, several characteristics that are correlates of better performance (being in the top two clusters) for informal firms are identical to those for all firms in the high-performance cluster: having electricity, having had a loan, and in terms of uses of digital technologies, having a smartphone and using a mobile phone to communicate with suppliers and customers. However, a sizable number of high-performance informal firms are lagging in terms of good characteristics. That roughly half of formal firms and no informal firm had a loan implies that it is possible to be in the top performance cluster even without having access to such formal financing. That over half of formal firms in the top cluster as well as in the top decile of productivity and sales use inventory control/point of sales software as a management tool while only one informal firm does is both indicative of the small number of informal firms that use these technologies and suggestive of the potential for performance improvements if such technologies were used more widely.

Productivity accounting.

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• EndNote
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Productivity accounting.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper proposes a further six-month extension of the period for consent to increase quotas under the Fourteenth General Review of Quotas. The current deadline is due to expire on June 30, 2015; however, Board of Governor's Resolution No. 66-2 provides that the Executive Board may extend the period for consent as it may determine. An extension under Resolution No. 66-2 will also extend the periods of consent for quota increases under the 2008 Reform of Quota and Voice (Resolution No. 63-2) and the Eleventh General Review of Quotas (Resolution No. 53-2). As of June 10, 2015, 24 members have not yet consented to their proposed quota increases under Resolution No. 66-2 (see Appendix I). Once the conditions for effectiveness of the individual quota increases are met, members may then pay for their quota increases to make them effective.

Productivity accounting.