India wants realignment of voting rights at IMF

16 Apr 2007

1

Washington: India wants realignment of voting rights at the International Monetary Fund (IMF) to provide greater voice to under-represented countries.

Reserve Bank of India (RBI) deputy governor Rakesh Mohan addressing the World Bank-IMF annual meeting said, "The fundamental (voice and quota) reform has to come by giving greater share to the under-represented countries while that of the over-represented countries would need to come down."

Elaborating on quota and voice reforms, he said IMF needed to adopt a simple, transparent and linear quota formula to meet current global reality. He suggested a new formula, which should take into account Gross Domestic Product (GDP) computed entirely on purchasing power parity (PPP) basis as half-way blending of GDP at market rate with GDP on PPP would not meet the objectives of reforms.

A broader representation of developing countries would enhance the acceptability, ownership and effectiveness of the Fund''s programmes and policies, he said in his address.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers