IMF management should be more reflective of global economic changes - ambassador
MOSCOW. June 10 (Interfax) - The International Monetary Fund management should give broader representation to the developing nations, said Chinese Ambassador to Russia Li Huei.
"The G20 have already decided that the leader and management of international financial organizations must be elected under the principles of openness and transparency, on a competition basis. At the same time, their management should give better reflection of changes in the global economic structure and representation of new markets," the Chinese diplomat told Russian journalists on Friday, when asked by Interfax whether China agrees with Russian President Dmitry Medvedev that the IMF management should give broader representation to the BRICS countries (Brazil, Russia, India, China, South Africa).
Currently, the question of Europe's sovereign debt after the global financial crisis is still at a sensitive and unsteady stage, which requires the support of a strong international monetary organization that can overcome the forthcoming difficulties and ensure steady and uniform growth for the global economy, the Chinese diplomat said.