China will play an important role in the reform of the IMF quotas, IMF chief says

Almaty. April 15. Silkroadnews – China will play an important role in the quota reform of the International Monetary Fund (IMF), with the global lender boosting a better structure of the world economy, IMF Managing Director Christine Lagarde said, Xinhua reports.

C. Lagarde noted that in her next five-year term she will contribute to let the IMF better mirror the state of the global economy, with those countries that are underrepresented currently to have a status better mirroring their share of contributions and participation in the global economy.

“This does not apply exclusive to China. There are other countries as well,” said C. Lagarde.

In February, she was selected as the head of the IMF for the second five-year term starting June 5.

The IMF chief believes the completion of the 14th IMF Quota Review at the beginning of this year is an important step to better reflect the global economy state, but there is still much work to be done. In the coming months the IMF will start discussion of the 15th quota review and plans to complete it by the end of 2017.

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