India’s voting rights increase in IMF
Q. India’s voting rights have increased from 2.3% to which percent?- Published on 29 Jan 16a. 2.6
b. 2.7
c. 2.8
d. 2.9
ANSWER: 2.6
Emerging and developing economies have attained more influence in the governance architecture of the IMF. The voting rights have increased to 2.6% from the current 2.3%. China’s voting rights have increased from 3.8 percent to 6 percent as per the new division. Two other countries which gain from the reforms are Russia and Brazil. Close to 6 percent of the quota shares will shift to emerging and developing nations from US and EU nations. Combined quotas or what the capital countries contribute increases to USD 659 billion from USD 329 billion. IMF reforms were agreed by 188 members in the year 2010 in the aftermath of the international financial meltdown.
