Arab Today, arab today imf delays new reforms because us holding up earlier round
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

IMF delays new reforms because US holding up earlier round

Arab Today, arab today

Arab Today, arab today IMF delays new reforms because US holding up earlier round

Washington - AFP

The International Monetary Fund put off for one year a new round of quota reforms, blaming the lack of US ratification of a previous round meant to be implemented in 2012. The IMF Executive Board said it decided to postpone the so-called 15th General Review of Quotas, which aims to give emerging market economies, particularly China, a greater say in the operations of the global crisis lender. The newest quota review -- which lays out contributions and voting rights at the Fund -- was originally targeted for completion at the end of this month. But the board said that would not happen because the 2010 14th Review and Board Reform Amendment, which notably doubled contributions to the Fund to allow it to address the financial crisis, still has not been ratified by the United States, the IMF's largest shareholder. As of the middle of this month, the board said in a statement, 141 of 188 member-states had ratified the reform, more than the 113 required. But their backing represented only 76.1 percent of the quotas in the IMF, well short of the 85 percent needed. The difference can only be made up by the United States. But although the White House has requested it, Congress has refused to support the reform. The most recent effort on Capitol Hill, to attach the ratification to the annual spending bill earlier this month, failed. The IMF board said it "deeply regrets" the delay in the earlier reform, saying it was important and urgent "for strengthening the Fund's effectiveness and legitimacy."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf delays new reforms because us holding up earlier round Arab Today, arab today imf delays new reforms because us holding up earlier round

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf delays new reforms because us holding up earlier round Arab Today, arab today imf delays new reforms because us holding up earlier round

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday