ecns [expanded by feedex.net]: China welcomes U.S. ratification of IMF quota reforms

ecns [expanded by feedex.net]

ecns

China welcomes U.S. ratification of IMF quota reforms
http://www.ecns.cn/2015/12-19/193067.shtml
Dec 19th 2015, 04:32




China's central bank on Saturday welcomed the ratification of the 2010 quota and governance reforms of the International Monetary Fund (IMF) by the U.S. Congress on Dec. 18, 2015.


"Such approval means that the 2010 reforms, after protracted delay, are expected to take effect soon," said the People's Bank of China (PBOC), the central bank, noting "the 2010 reforms will enhance the representativeness and voice of emerging market and developing countries (EMDCs) at the IMF, thus helps maintain the IMF's credibility, legitimacy and effectiveness."


Going forward, China will work closely with other member countries to support the IMF to continuously improve its quota and governance structure, to ensure that the IMF remains a quota-based and adequately resourced institution, according to the PBOC.


"The 2010 reforms will double the IMF's quota resources from SDR 238.5 billion to SDR 477 billion, while shifting 6 percent of quota shares to dynamic EMDCs. China's quota will increase from 3.996 percent to 6.394 percent, making China the third largest shareholder in the IMF from the sixth." The PBOC said in a statement posted on its official website.


Created by the IMF in 1969, the Special Drawing Rights (SDR) is an international reserve asset supplementing members' official reserves. It can be exchanged among governments for freely usable currencies in times of need.


　　




China once again urges U.S. to ratify IMF reform plan ASAP




IMF approves yuan as a major world currency




China's central bank welcomes IMF MD Lagarde's statement





Child shares nude photo of father in revenge


Changing with the Internet


Ministry denies purging heroic figures from textbook


Famous pavilions in China


Crescent Lake scenery spot in Gansu


China welcomes U.S. ratification of IMF quota reforms


China to keep economic stimulus in 2016: Bloomberg


Chinese economy makes strides in right direction: experts


FM calls for representative, balanced, inclusive Syria talks


Apple, Samsung tap mobile payment potential in China





You are receiving this email because you subscribed to this feed at https://blogtrottr.com

If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt