IMF hits PRGT milestone but quota deal remains elusive

US wants to maintain voting shares as China continues to press for more proportional allocation

Kristalina Georgieva
Kristalina Georgieva
IMF Photo/Allison Shelley

The International Monetary Fund hit a milestone for a key anti-poverty lending facility at its meetings in Morocco, but failed to finalise a more significant plan for quota reform.

IMF managing director Kristalina Georgieva hailed the completion of a first round of funding for the Poverty Reduction and Growth Trust (PGRT), the IMF’s main concessional facility. It offers interest-free lending to some of the fund’s most vulnerable members.

“Reaching these targets is critical to allow the IMF to

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