It officially became the third largest shareholder of the IMF, while the voting share of the United States was slightly reduced to 16.5%, while retaining the veto power.
It is understood that after this round of reform, the IMF's SDR currency reserve will double, from the original $329.8 billion to $659.7 billion. It is worth noting that the amendment makes it clear that the share of emerging markets in the IMF will increase by more than 6%, and China, Brazil, India and Russia are among the top ten members of the IMF. In addition, all members of the IMF Executive Board will be elected for the first time.
Extended data:
The data show that the IMF has been manipulated by the "discourse hegemony" of developed countries in Europe and America for more than 60 years. The Group of Seven, composed of the United States, Britain, France and other countries, controls more than half of the voting rights, resulting in the final decision of the IMF, including fund size and gold sales, being concentrated in the hands of a few member countries.
However, developing countries, poor countries and heavily indebted countries cannot get the aid and financial support they deserve. In order to change this unbalanced state, the IMF board of directors passed the share and governance reform plan as early as 20 10, but the United States, as the largest shareholder, has been blocking this reform for the needs of the big country game.
Emerging markets gained greater voice, and after the control of the United States weakened, the IMF share reform plan that had been stagnant for five years was finally approved.
People's Daily Online-China officially became the third largest "shareholder" of the IMF.