IMF considering increasing China’s voting rights to reflect its position in global economy

fmi china

Banca March: The International Monetary Fund (IMF) is considering increasing China’s voting rights to bring its share in the fund in line with its position in the global economy. Each country contributes a quota based on various factors reflecting economic positioning relative to the world economy. This quota designates the amount each country has to pay into the fund, as well as its voting rights. Currently, the Asian giant has only a 6% share, despite having three times the weight in global GDP. In order to be able to exercise a revision of the percentage, 85% of votes in favour are necessary. The United States, which has a 17% voting right, has warned that it will veto any expansion by China.

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