G20 agrees historic IMF power shift

IMF headquarters in Washington DC

G20 central bank governors and finance ministers agreed Saturday on a landmark reform package that will boost the quotas and voting share of leading emerging markets in the IMF, through a shift in power from advanced economies.

The redistribution will endow Brazil, Russia, India and China, collectively known as the BRICs and termed "dynamic emerging market and developing countries" by the G20, with more votes at the Fund. The quota share of these countries, which reflects their capital contribut

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