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Global finance leaders to discuss IMF voting power reforms

Global financial leaders meet this week in Washington, the IMF voting rights changes will do an inventory, the market fears a key IMF reform program in the United States Congress a tough sell in a tight budget year, is being held.
Not to mention the United States, IMF President Christine Lagarde (Christine Lagarde) on Wednesday repeated calls Member States to ratify the 2010 package, which will promote long-term calls for more say in the International Monetary Fund (IMF), to reflect the voting rights of emerging countries such as China and India their growing economic strength.
Will discuss the Group of 20 developed and emerging countries and the International Monetary Fund (IMF), the Steering Group, the International Monetary and Financial Committee, the right to vote on Friday.
"There is not really a lot of new issues on the table," a senior IMF officials declined to name the speech, told reporters.
"As long as the U.S. approval, will come into effect of course, the views of the members, it should occur as soon as possible, it is certainly our view, the United States is also committed to complete it." The official said.
Although approval of the package has been delayed by the United States, has been little progress since January, members of the voting shares of countries to agree to a new formula.
The officials acknowledged that further discussion depends on the latest economic data due in June.
The agreement means that in 2010 has been fully authorized by the country in October last year. But the Obama administration will ask Congress to provide funding, in November last year before the presidential election to avoid controversy.
Some countries believe that delay voting reform programs and the preparation of a new formula will be re-set the next stage of the big ticket changes, due in January 2014.
The United States has repeatedly said it is committed to the 2010 agreement, some members of Congress believe that the protection of domestic programs are being cut to the IMF money to a thorny problem.
Last week, U.S. President Barack Obama asked Congress to $ 6.3 billion of American money dollars from the IMF's crisis fund to permanently boost to IMF funds.
Request, which will further enhance the influence of the United States in the IMF, will be considered to determine the level of funding for FY 2014 and started working for government agencies and discretionary programs Appropriations Committee.
Some congressional aides said, approved in the United States in the first 10 months of the IMF money is not possible.
New Treasury Secretary, Jack Lew, recently testified at the hearing on the president's 2014 budget proposal, that it is in the interests of the United States to maintain its veto power in the IMF leadership and decision-making.
Liu told: "we have a veto at the IMF, we have a controlling voice when we need to, we have leverage, so America can influence economic decision-making around the world, what it is, our international leadership depends at the hearing.
 
 



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