IMF board okays boost in lending resources
The executive board of the International Monetary Fund (IMF) has given the go-ahead to a proposal for a 50% increase in quota resources. The increase will be contributed by member countries in proportion to their current IMF shareholdings. The proposal is similar to a plan backed by the US. It is designed to boost IMF lending resources but will put off any increases in IMF shareholdings for fast-growing emerging market economies.
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