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IMF's Lagarde says can't do much about reform without US support
Published in Saudi Press Agency on 23 - 03 - 2014

International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should do to push reform at her organisation and give emerging economies a bigger say without the support of the United States, Reuters reported.
China in January called on IMF member nations to stick to a commitment to give emerging markets more power at the global lender after U.S. lawmakers set back historic reforms that would give developing countries a greater say.
Speaking at Beijing's elite Tsinghua University, Lagarde said this was a matter for the United States to complete the process and ensure that the relevant legislation can be passed.
"This is not something I can do much about," she told students.
She added that she hoped emerging economies could have a bigger voice within the institution.
The reform of the voting shares, known as quotas, cannot proceed without the United States, which holds the only controlling share of IMF votes.


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