The Chinese central bank governor, meanwhile, said China is "deeply disappointed" that the IMF's latest quota review failed to agree on a quota increase and a quota share realignment.

The Group of Twenty (G20) summits and the IMFC meetings have made several commitments to a successful conclusion of the 15th quota review, "so that quota shares of the dynamic economies can be increased in line with their relative positions in the world economy," Yi said. "Those commitments should be respected."

"The IMF should continue to push ahead with quota and governance reforms, which are a prerequisite for the IMF to fulfill its mandate," Yi said.

Britain's Chancellor of the Exchequer Sajid Javid said "while we would be prepared to support a quota increase, we deeply regret that this prospect will not garner the support needed for approval of the 15th General Review of Quotas."

"We regret that such a solution would not deliver any realignment of quotas towards dynamic economies and therefore are open to the ideas proposed by the IMF that ensure progress towards this objective as part of timely progress with the 16th General Review of Quotas," Javid said.

Noting that India considers this as "a temporary setback," Sitharaman said she hopes the discussions in the next (16th) round of the general review of quotas would achieve success in terms of quota increase to take care of the Fund's resource adequacy.

Currently, the global lender has 1 trillion U.S. dollars in total lending resources, made up of quotas, its main source of financing and based broadly on each member's relative position in the world economy, the New Arrangements to Borrow, a multilateral borrowing mechanism that provides additional lending resources, and the Bilateral Borrowing Agreements, a further boost to the IMF's lending capacity after the 2008 financial crisis.

The IMFC announced on Friday that IMF members supported maintaining the global lender's current resource envelope, and delayed any quota changes.

"We note the lack of progress on a quota increase under the 15th Review and call on the Executive Board to complete its work on the 15th Review and on a package of IMF resources and governance reforms, and to report to the Board of Governors as soon as possible," the IMFC said in a statement.

"Beyond the 15th Review, we are committed to revisiting the adequacy of quotas and continuing the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, with the Review to be extended from 2020 to no later than December 15, 2023," the committee said.

The IMF's 14th quota review was concluded in 2010 and the quota increases became effective in 2016. After the reform, some 6 percent of quota shares were shifted toward emerging markets, including China and India.

The United States, with 16.5 percent voting power, can still veto any boost in any member's IMF quota, as any such change requires an 85 percent weighted majority vote of its members.

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