International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should do to push reform at her organisation and give emerging economies a bigger say without the support of the United States, Reuters reported. China in January called on IMF member nations to stick to a commitment to give emerging markets more power at the global lender after U.S. lawmakers set back historic reforms that would give developing countries a greater say. Speaking at Beijing's elite Tsinghua University, Lagarde said this was a matter for the United States to complete the process and ensure that the relevant legislation can be passed. "This is not something I can do much about," she told students. She added that she hoped emerging economies could have a bigger voice within the institution. The reform of the voting shares, known as quotas, cannot proceed without the United States, which holds the only controlling share of IMF votes.
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All rights reserved to Arab Today Media Group 2021 ©
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