Summary
SINGAPORE -- The 184-nation International Monetary Fund on Monday approved reforms to increase the voice of the emerging economies China, South Korea, Turkey and Mexico to reflect their growing economic sway.
The move, which raises the voting share of those four nations, aims to boost the credibility of the IMF, which six decades after its founding is facing criticism for giving the U.S. and other Western powers too much influence.See the full content of this document
Extract
Imf Recalculates Balance of Global Banking Power
The proposal won 90.6 percent of the total vote, the IMF said in a release. It needed 85 percent to pass.
Voting shares affect member countries' say in the decisions of the Washington-based ...See the full content of this document
Sponsored links
