News Analysis: Chinese central banker calls on the Fund to adjust

The People's Bank of China has had its fair share of advice from the Fund over the last few months. In October it returned the compliment. Li Ruogu, a deputy governor at the People's Bank of China, took the Fund to task for being run like an old-boy club. It has not moved with the times and, perhaps more damningly, has abandoned the principles used for allocating quotas, which decide the number of votes a country has.

Much has changed in the world but not enough has at the Fund, according to Li.