Emerging Nations Big Winners At Re-Born G20
World leaders returned home on Saturday after backing a new vision for economic governance, with bold plans to fix global imbalances and give more clout to emerging giants such as China and India.
They left the G20 summit in Pittsburgh with agreement to give developing countries greater voting rights at two major financial institutions – the International Monetary Fund (IMF) and the World Bank. The increases developing nations quota of representation shares by 5 percent at the IMF and 3 percent at the World Bank.
– Reforming the structure of those institutions is key to helping prevent future crisis, said Former IMF Chief Economist Simon Johnson.
Countries such as China, South Korea and Japan began building huge reserves in the wake of the Asian financial crisis in the 1990s and their bad experiences with the IMF at that time. – They have to believe in the IMF so they do not build huge reserves, Johnson said.
Om G20
Verdens 20 førende økonomier, G20-landene, er:
Argentina, Australien, Brasilien, Canada, Kina, Frankrig, Indien, Indonesien, Italien, Japan, Mexico, Rusland, Saudi-Arabien, Storbritannien, Sydafrika, Sydkorea, Tyrkiet, Tyskland og USA.
Det 20. medlem er EU som helhed, der repræsenteres af EU-Kommissionen og EUs formandsland, som i dette halvår er Tjekkiet. Verdensbanken og Den Internationale Valutafond er ikke medlemmer, men deltager også.
Kilder: www.worldbank.org m.fl.
