G20 Summit Agrees to Reform IMF
Become a member: Subscribe
NTS Headlines
Headlines by Category
Headlines by Year
Solari’s Building Wealth materials are organized to inspire and support your personal strategic and financial planning.
Building Wealth
This 6-pillar curriculum teaches the basic literacy we need to be personally and financially successful and to do so in a manner in which together we evolve a culture that supports the emergence of an advanced human civilization.
Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
Connect with the wider network of like-minded Solari subscribers using our in-house social media platform, Solari Connect.
No posts
G20 Summit Agrees to Reform IMF
By Andrew Walker
Finance ministers from the G20 leading economies have agreed reforms of the International Monetary Fund, giving major developing nations more of a say.
At a meeting in South Korea, they agreed a shift of about 6% of the votes in the IMF towards some of the fast-growing developing countries.
Those nations will also have more seats on the IMF’s Board, while Western Europe will lose two seats.
But the US will retain the veto it has over key decisions.
Such decisions require an 85% vote – Washington holds 17% under the IMF’s weighted voting system.
The ministers also agreed to refrain from competitive devaluations of their currencies and move towards more market-determined currency systems.
Continue reading the article . . .
Related reading:
G20 Forswears Currency, Trade Wars But Sniping Starts Right Up Again
GATA (23 Oct 10)
G-20 Pledges to Avoid Devaluations in Push to Defuse Global Trade Tensions
Blomberg (23 Oct 10)
Analysis: G20 Has to Show FX Pact Packs Meaning
Reuters (24 Oct 10)
G20 Inks Pact to Avert Trade War
Reuters (23 Oct 10)
