International Monetary Fund’s (IMF’s) long-pending 2010 Quota and Governance Reforms have finally become effective Consider the following statements in this regard:
All Executive Directors will be elected, ending the category of appointed Executive Directors.
Which of the above statements is/are incorrect?
International Monetary Fund’s (IMF’s) long-pending 2010 Quota and Governance Reforms have finally become effective Consider the following statements in this regard:
All Executive Directors will be elected, ending the category of appointed Executive Directors.
Which of the above statements is/are incorrect?
The correct option is A 1 and 3 only
China will have the 3rd largest IMF quota and voting share after the US and Japan. While, India, Russia and Brazil will also be among the top 10 members of the IMF.
India’s voting rights increased by 0.3% from the current 2.3% to 2.6%. China’s voting rights increased by 2.2% from current 3.8% to 6 %.
These reforms shifted more than 6% of the quota shares to emerging and developing countries from the US and European countries.
Under the reform, for the first time IMF’s Executive Board will consist entirely of elected Executive Directors and it ends the category of appointed Executive Directors.
Earlier Scenario: Currently, US, Japan, France, Germany, Italy, United Kingdom, Canada and Saudi Arabia are among the top ten members of the IMF. While, the member countries with the 5 largest quotas appoint an Executive Director.
1 and 3 only
China will have the 3rd largest IMF quota and voting share after the US and Japan. While, India, Russia and Brazil will also be among the top 10 members of the IMF.
India’s voting rights increased by 0.3% from the current 2.3% to 2.6%. China’s voting rights increased by 2.2% from current 3.8% to 6 %.
These reforms shifted more than 6% of the quota shares to emerging and developing countries from the US and European countries.
Under the reform, for the first time IMF’s Executive Board will consist entirely of elected Executive Directors and it ends the category of appointed Executive Directors.
Earlier Scenario: Currently, US, Japan, France, Germany, Italy, United Kingdom, Canada and Saudi Arabia are among the top ten members of the IMF. While, the member countries with the 5 largest quotas appoint an Executive Director.
