The Board of Executive Directors of the International Monetary Fund (IMF) has approved historic reforms, including shifting quota or voting power from advanced economies to "dynamic" emerging and developing countries.
G20 agrees to shift 6 pct of IMF quota to developing countries
The G20 Seoul Summit has confirmed the 6-percent shift of quota shares to emerging economies in the International Monetary Fund, according to the joint communique issued Friday afternoon at the end of the summit.
- G20 Summit 2nd session begins to discuss IMF reform
- IMF chief names Chinese banker as his special advisor
- IMF likely to hike China's quota to 6%
- IMF requires financial check-up for 25 leading economies
- IMF urges cooperation to prevent currency war
- Voting power shift just start of IMF reform
- Rebalancing via reform
- IMF sees strong growth in Asia continuing
- China to enhance coordination with IMF
- IMF meeting fails to resolve currency fears
- Further shift in IMF quota shares likely
BackgrounderCore of IMF reforms will be doubling of IMF quotas that will produce shift of 6 percent of quota shares to dynamic emerging market, developing countries.
• Key facts about IMF reforms
• New quata tables
• About the IMF