The Traderszone Network

Published in TZ Latest News 28 January, 2015 by The TZ Newswire Staff

IMF sets June deadline for progress on governance reforms

The governance reforms were adopted by the IMF in 2010, which initially set a 2012 deadline for all member countries to endorse them. The administration of U.S. President Barack Obama has so far been unable to persuade Republicans in Congress to act on the measure. The board of the International Monetary Fund said Wednesday the institution’s 188 member countries should agree on steps that could make “meaningful progress” toward the reforms by June 30, without providing details.     The reforms would double the fund’s resources and give more say to emerging markets like China and Brazil.