Follow-up - the morning
began IMF policies lose a lot of realism, and its ability to meet the debts of countries that are related to programs and projects and policies of the fund, due to the failure of this fund in the ratification of the reform of the quota system and governance of the Fund, which has been agreed upon five years ago.
Crossed International Monetary and Financial Committee of the Fund, which includes 24 members, its dissatisfaction over the slow procedures in the reform and to secure foster programs to regulate the conditions of governance as an expression of good governance.
The Committee noted in its report to the recognition of the importance of these reforms for the credibility and the legitimacy and effectiveness of the International Monetary Fund, and the importance of implementation as soon as possible, and to invite the United States to ratify the economic reforms precedent for years.
In this regard, said German Finance Minister, Wolfgang Schaeuble: The US Treasury Secretary Jack Liu agreed to put pressure on Congress to adopt reforms, because the United States is the only country that did not acknowledges the reforms.
The reform of the quota system and governance of the International Monetary Fund will be allowed to change the voting rights in favor of developing countries, such as China and Brazil, which gives more influence to reflect their economic importance.
The United States has weight Tsoettia in the International Monetary Fund is equal to about 17 percent. And it requires important decisions taken by the Fund's approval of a majority of 85 Plumih, which means that the United States has a veto.
The Christine Lagarde, director of the International Monetary Fund, had earlier warned of the danger of weakening the credibility of the International Monetary Fund and the representation of the emerging countries after disabling reforms relating to governance Fund because of the American veto.
said Lagarde participate in meetings of Lima (It's a question the credibility and representative institution in particular about the countries that do not get a full representation).
owns China, the second economic power in the world today, less than 4 percent of the voting rights in the Fund's Board and share a little of Italy higher, although the size of the Italian economy is less than five times of China's economy.
seeks US administration to ratify the reforms adopted in 2010, but they collide with opposition Republicans dominate the Congress.
In order to exercise great pressure on the Fund's policies, said US Treasury Secretary Jacob Leo: if there is no implementation of the reforms, the consequences for the United States and the international community will be very large.
The importance of corporate governance in the organization of the work of such a large institution, associated with politics as it is linked to the economy, since the International Monetary Fund policies represent in their pressure US on debtor countries, which allow to interfere in the internal policy, including raising the support of governments of many national programs cover, which relates to energy, bread and public services, which means creating social and economic poor countries crises difficult to control the consequences.
It is noted that the International Monetary Fund is an international financial institution concerned providing loans to Member States to address temporary balance of payments deficits. It thus works to stabilize exchange rates, imposed in return to borrowing countries be consulted on the economic steps and support programs are taking to improve the situation of balance of payments that.
And dating the emergence of the fund, which is based in Washington, DC, to July 1944 when it signed the 29 countries on the Charter Fund in Bretton Woods Conference in the United States, in the period from July 1 to 22 1944, and began its business in the first of March 19
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