Business
Finance Minister Nirmala Sitharaman Bats For Strong, Quota-Based And Adequately Resourced IMF
Finance Minister Nirmala Sitharaman has made a case for a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net and climate action on the principles of common but differentiated responsibilities and respective capabilities.
The 16th General Review of Quotas (GRQ) is expected to provide a greater say to developing economies in the International Monetary Fund (IMF).
As per an IMF resolution, the 16th GRQ should be concluded by December 15, 2023. Any adjustment in quota shares would be expected to result in an increase in voting rights of emerging countries in line with their relative positions in the world economy.
