The Phaserl


Russia to use G20 to reform IMF

from The BRICS Post:

Russian President Vladimir Putin said Russia will use its presidency in the G20 to strengthen the voice of the developing economies and change the International Monetary Fund’s (IMF) role.

“The IMF needs a thorough reform. This view is shared by all the shareholders of the Fund. The problem is that the IMF frequently fails to keep pace with the rapidly changing situation in global financial markets, first of all, when making efficient and timely decisions” President Putin said in an interview with RIA Novosti.

“Their implementation leaves much to be desired as well. A good example is the global financial crisis, which the IMF system failed to prevent,” added Putin.

The IMF should change in order to reflect the “current economic realities”, this is particularly true about the organisation’s voting system that should “enhance the role of developing countries.”

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2 comments to Russia to use G20 to reform IMF

  • hoser

    Reform the IMF? Are you fucking kidding me? Let’s banish it to the dust bowl of history along with all central banks and the World Bank! Then, and only then, will the world be truely free, no more hunger, no more homeless and everyone who want’s to work can work. BRILLIANT!

  • NaySayer

    Putin is a game player. Maybe he doesn’t want to abolish worldwide institutions like the IMF, he wants to take them over so they serve russian interests only.

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