India welcomes IMF’s quota, vote share plan

Print Email Feedback Discuss

Rate Article

Rating:

Press Trust of India Posted: Apr 15, 2008 at 2344 hrs IST

Washington: India has welcomed the IMF’s plan to raise its quota and vote shares in the bank as a “significant” first step that would have a “catalytic effect” on reforms in the World Bank and other institutions under the UN umbrella. “The IMF can now be justifiably proud that it is the first international organisation that has taken a significant step in reforming its governance structure,” finance minister P Chidambaram said here. The major reform proposal under which the quota share would be increased from 1.92 per cent to 2.44 per cent and vote share from 1.88 per cent to 2.34 per cent was endorsed by the International Monetary and Financial Committee (IMFC) of the IMF on Sunday. The move would push India’s position up to 11th among the 184 member nations of the Washington-based institution.

Ads By Google

TERMS OF USE:
The views represented here are not neccesarily endorsed by www.expressindia.com and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.

I agree to the terms of use.

View all Messages [ 0 ]

Be the first to comment.

Mail this page

Message*	Maximum characters allowed

Name*		Email ID*
Subject*		Country*

India welcomes IMF’s quota, vote share plan

Related Stories: