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[breaking news website] (Finance and Economics) IMF's capital increase is approved, what does it mean?

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  China News Agency,一刻资讯 Beijing, December 22 (Reporter Xia Bin) After thirteen years, the IMF (International Monetary Fund Organization) has increased its capital again.Recently, the IMF announced that it decided to increase capital by 50%, with a total share of about 960 billion US dollars. The last share reform of the IMF was still in 2010.

  For the capital increase plan, the IMF received nearly 93%(calculated by voting rights) at the recent general affairs meeting, and the plan passed.Since then, the plan will take effect after the domestic procedures of various countries are over, and countries will pay the additional capital contribution.

  In the plan, the proportion of capital contributions in various countries remains unchanged. About 17.4%of the United States, which ranked first, Japan ranked second with 6.5%, 6.4%in China, which ranked third, and 5.6%followed by Germany.Essence

  Looking back at the last round of reform plan in 2010, the IMF has about 6%of the share to emerging markets and developing countries. China's share accounts for rising from 3.996%to 6.394%, ranking third in the sixth place.It is second only to the United States and Japan.It is also because of the last reform that the voting right of the United States declined from 16.75%, but still maintained more than 15%of major decision -making and veto rights; China's voting right was about 6.08%.

  At that time, Japan and China were almost the same in terms of GDP (GDP), and the name economy in China was 4 times that of Japan in 2022.This IMF also revealed that considering China and other aspects, it will start the discussion on the proportion of changes to the next increase in capital.

  "China's active participation in and promoting IMF's capital increase plan will also significantly enhance the IMF's capital strength and ability to resist risks, so that it can better play the important functions of maintaining global financial stability and preventing the turbulent international financial system."Pang Ye, chief economist and director of the research department of China, told a reporter from China News Agency.

  Where will the IMF reform go in the future?"The capital increase reflects the urgency and necessity of the IMF reform." Wang Youxin, a senior researcher at the Bank of China Research Institute, believes in an interview with China News Agency reporters that on the one hand, the international pattern has changed drastically."The trend is becoming more and more obvious. The activity and proportion of emerging economies in the global economy increased. The reform of the international monetary system needs to fully reflect the new changes in the international economic pattern, in order to better reflect the interests of emerging economies, enhance the representativenessEssence

  On the other hand, the current global liquidity environment is tightened and the financing costs are high. The burden of debt in various countries is increasing. IMF urgently needs to increase capital to supplement resources and support the support capabilities of global and fragile countries.The core position in China better maintains global financial stability.

  Wang Youxin bluntly said that developed countries have gradually realized that supporting China ’s expansion ratio is in line with the overall situation of global economy and financial stability. This capital increase plan reflects the profound changes in the current international economic and financial pattern and the coordination of interests between countries.

  At the 48th International Currency and Financial Committee (IMFC) meeting held in October this year, Pan Gongsheng, president of the Bank of China Pan Gongsheng, emphasized that China has always believed that the fund organization's share reform should realize the increase in share capital and proportion adjustment, which reflects the fund organization for the reason for the fund organization to use itThe nature of the institution based on share is better reflected in the relative position of member states in the global economy, and improving the right to speak and representativeness of emerging markets and developing countries.


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