28 March 2019 / Global
US proposal may address IMF resources
Behind the scenes in Washington, the US is proposing to double the International Monetary Fund's 'New Arrangements to Borrow', one of the pots from which the Fund draws its overall loanable resources. Under the proposal, IMF quotas will remain unchanged. For Managing Director Christine Lagarde, this would alleviate immediate threats to the Fund's resource base. For European, Japanese and US representatives, it would also postpone the debate about shifts in voting powers to emerging markets.