IMF seeks deadline on governance changes after US impasse
Washington
The International Monetary Fund plans a five-month deadline for adopting a temporary alternative to governance changes blocked by US lawmakers, with one former Treasury official saying the options should include a threat to end America's veto power.
The Washington-based fund said on Wednesday it will seek to impose an interim solution by June 30 as its board examines alternatives to changes it approved in 2010. The IMF is primarily financed by shares, known as quotas, that are assigned to its 188 member countries. The 2010 proposal would increase the proportion of quotas held by emerging markets such as China, India and Brazil.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal