G-20 pushes USA to ratify IMF reforms by the year end

G-20 has conveyed its dashing hopes at the stretched out delay over International Monetary Fund’s (IMF) quota and governance reforms agreed to in 2010 and the 15th General Review of Quotas (GRQ) including a new quota formula that would impart emerging economies, including India, a greater voice at IMF. G-20 has given USA a yearend deadline to ratify them.

The reforms would double the IMF’s resources and enhance the voting power of emerging economies like the BRICS – Brazil, Russia, India, China and South Africa.

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Categories: International Current Affairs 2017

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