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China to play important role in IMF quota reform: IMF chief

Apr 18, 2016

WASHINGTON - China will play an important role in the International Monetary Fund (IMF) quotareform, with the global lender boosting a better structure of the world economy, said the IMFManaging Director Christine Lagarde at a press conference Thursday.

At the news conference held here Thursday to open the IMF-World Bank Spring Meetings,Lagarde said that in her next five-year term, she would push for the efforts to let IMF better mirrorthe global economic status, with the currently underrepresented economies to have a statusbetter mirroring their share of contributions and participation in the global economy.

"That does not apply exclusive to China. There are other countries as well," said Lagarde.

In February, Lagarde was selected to head the IMF for a second five-year term starting June 5.

The IMF chief believed the completion of the 14th IMF Quota Review earlier this year is animportant step to better mirror the global economic status, but more work should be done. TheIMF is to discuss the 15th Quota Review in the next few months and is expected to complete thereview by the end of 2017.

"I am convinced that, in that context, China will play an important role, because it wants to be aplayer in the institution and it wants to cooperate in the international domain," said Lagarde.

(Source: ChinaDaily.com.cn)


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