IMF'S New Reform Plan Will Make China'S Discourse Power Second Only To The United States.

Reuters reported today that an internal document obtained earlier by the news agency showed that

The purpose of this reform plan is to change the current situation that developing countries do not pay enough attention to the IMF. The new plan will greatly enhance the voting rights of emerging economies such as China, Brazil, Russia, India, South Korea and Turkey.

According to the Reuters report, the BRIC countries represented by China, Brazil, India and Russia have become the main force to promote world economic growth when the international financial crisis has caused major industrial countries in the world to stagnate.

According to the report, China's right to speak in the organization should be improved in view of the large amount of funds China has provided to the IMF.

According to the report, China's voting rights on major loans and international economic issues of the IMF will be greatly increased under the new scheme.

Another important objective of the new scheme is to raise more funds for the International Monetary Fund.

As the voting rights of international monetary funds are linked to the funds invested by a country in the organization, the substantial increase in the voice of developing emerging economies also means that these countries will provide more funds to the IMF.

Reuters's report said that the reform is expected to enable the IMF to get 1 trillion dollars in new investment.

According to China's economic network, the International Monetary Fund announced three reform programmes last week. In one of the plans, China will surpass Germany, France and Britain in the third place, ranking behind the United States and Japan.

In another scheme, China will surpass Japan in the second place, second only to the US.