The reform of the International Monetary Fund (IMF) may be ratified by the US Congress by the end of this year, Russian Finance Minister Anton Siluanov said at the G20 summit on Monday.
"One of the positive moments we heard yesterday was that by the end of the year the reform of the international financial architecture that we’ve been waiting for for around 5 years already, may be finalized," the Minister said. "According to our US colleagues and the Head of the International Monetary Fund, it’s very likely that by the end of the year the (US) Congress will have ratified respective amendments to the Statute," Siluanov said.
Finance Minister stressed that after that it will be possible to speak about settlement of the IMF reform issue. "It would be very positive as the fund will need additional capitalization and changed ratio between shares of developing and developed countries within the fund," Siluanov said, adding that the issue is about a fairer distribution of quotas and shares within the international organization.
First published by TASS.
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