MARRAKECH, Oct 14 — China’s central bank chief said today that Beijing wants an increase in International Monetary Fund (IMF) quota resources to come with a realignment of the IMF’s shareholding to reflect countries’ economic weights and strengthen the voices of emerging markets and developing countries.
People’s Bank of China Governor Pan Gongsheng said in a statement to the IMF’s steering committee that China supports adding a third African chair to the IMF’s executive board, but added that this was separate from the quota realignment issue.
“China looks forward to a timely conclusion of the Sixteenth General Review of Quotas, with quota increase and realignment, in order to restore the IMF as a quota-based institution, reflect members’ relative weights in the global economy, and strengthen the voice and representation of emerging markets and developing countries,” Pan said. — Reuters
