The U.S. faces an uphill battle to persuade other International Monetary Fund member countries to expand the IMF's lending war chest without boosting the shareholdings of China, India and Brazil, government officials and development experts say. "Quota increases without realignment would politically weaken the Fund," a Brazilian official told Reuters, adding that Brazil, China and India deserved a bigger role in the IMF commensurate with their growing stature in the global economy. Quotas contributed by member countries in proportion to their voting power now account for more than 40% of the Fund's $1 trillion in lending firepower, which has been taxed by years of COVID-19, inflation, climate shocks and spillovers from Russia's war in Ukraine.
The International Monetary Fund (IMF) on Wednesday hailed the deployment of the cash transfer scheme in India and described it as a logistical marvel consider
Regulating crypto assets along with digital currency, addressing the remaining regulatory concerns in the banking sector and integrating with the global economy are among the few mid-term structural issues for India, a top official from the International Monetary Fund has said.
Changyong Rhee, director of the IMF Asia and Pacific Department, speaks during an interview in Washington, D.C., the United States, on April 2, 2019. (Xinhua/Li
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