IMF Urges Members To Boost Funding Under 2010 Plan -- Reuters
(Reuters) - IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender.
The changes to members' quotas, which determine how much each country contributes to the IMF and their voting shares, are critical as a euro zone debt crisis escalates and is set to slow global growth in 2012.
Lagarde said the IMF's 187 countries had until October 2012 to get the necessary votes to implement the 2010 decision to double quotas, which would make China the Fund's third-largest member country.
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My Comment: The IMF is dreaming ..... especially when I read news stories like this one.
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