grey boy 2
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China expected to be second largest voting country in IMF
October 19, 2009
Senior Resident Representative Daisuke Kotegawa of the IMF (International Monetary Fund) in Japan, expressed in Beijing on October 17 that IMF was implementing a new round of reform in which the proportion of China's voting power in IMF would be second only to U.S.
Kotegawa also believes that although signs the world's economy is turning around are emerging and Australia's central bank has announced an interest rate hike, it was still too early to discuss an exit mechanism for economic stimulus policies of different countries in the world. Maintaining a good momentum of development is the key issue, and it is not necessary to stress inflation in the short term.
At present, the voting power of U.S. in IMF accounts for 17.4 percent, however, China's voting power only takes up by 3.72 percent. After the new round of reform, the voting power of China will increase significantly. Daisuke Kotegawa thinks that China will overtake Japan in IMF voting power. This would mark a raise in China’s ranking from sixth to second place.
Recently, Dominique Strauss-Kahn, president of IMF, also stated that it was the right time to adjust the proportion of voting power for member states. However, China should see the biggest adjustment of position within the IMF.
By People's Daily Online
October 19, 2009
Senior Resident Representative Daisuke Kotegawa of the IMF (International Monetary Fund) in Japan, expressed in Beijing on October 17 that IMF was implementing a new round of reform in which the proportion of China's voting power in IMF would be second only to U.S.
Kotegawa also believes that although signs the world's economy is turning around are emerging and Australia's central bank has announced an interest rate hike, it was still too early to discuss an exit mechanism for economic stimulus policies of different countries in the world. Maintaining a good momentum of development is the key issue, and it is not necessary to stress inflation in the short term.
At present, the voting power of U.S. in IMF accounts for 17.4 percent, however, China's voting power only takes up by 3.72 percent. After the new round of reform, the voting power of China will increase significantly. Daisuke Kotegawa thinks that China will overtake Japan in IMF voting power. This would mark a raise in China’s ranking from sixth to second place.
Recently, Dominique Strauss-Kahn, president of IMF, also stated that it was the right time to adjust the proportion of voting power for member states. However, China should see the biggest adjustment of position within the IMF.
By People's Daily Online
