IMF executive board approves 50% quota increase - The Nation Newspaper thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.
Business News: The executive board of the International Monetary Fund (IMF) has given the go-ahead to a proposal for a 50% increase in quota resources. The increase
WASHINGTON (Reuters) -The International Monetary Fund said on Tuesday its executive board approved a proposal for a 50% increase in quota resources to be contributed by member countries in proportion to their current IMF shareholdings. The proposal would largely follow a U.S.-backed plan that would enhance IMF lending resources but delay any IMF shareholding increases for China, India, Brazil and other fast-growing emerging market economies. The IMF said the 50% increase in quota funding equivalent to about $314 billion at current exchange rates would not increase its overall lending firepower of about $1 trillion, but would shift the composition to more permanent resources.
IMF Approves Proposal for Quota Increase miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.