Wednesday, April 08, 2009

China To Lift IMF Clout

BRITISH Prime Minister Gordon Brown told a press conference following the G20 summit yesterday that China deserves the right to demand greater representation in the International Monetary Fund.

Brown told reporters that China pledged to contribute US$40 billion to the global financial institution, while the European Union and Japan each offered US$100 billion.

Brown stressed that China has the right to demand more say in the IMF and that a timetable has been set to make that happen.

Calling it a "new era" for global cooperation, Brown said countries will work together for a more sustainable, more open and fairer world.

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