IMF approves 50% capital increase, keeps shareholding ratio intact
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The International Monetary Fund said Monday it has formally approved a 50 percent capital increase without changing each member nation’s current shareholding ratio, bringing the cumulative financial commitment via the quota system to $960 billion.
This is the first time in 13 years that the IMF has decided to increase its capital base. The decision will allow Japan to maintain its No. 2 status within the multilateral lender behind the United States.
IMF Managing Director Kristalina Georgieva said in a statement that the endorsement will reduce the reliance of the fund on borrowings and reinfor...