Minister of Strategy and Finance Jeung-Hyun Yoon said other steps could be taken by the IMF is to promote diversification of the agency staff.
Reform is done through a shift in quotas from countries that excessive to countries that magnitude is less balanced with the reality of its quota in the world economy.
"These reforms encourage the growing influence of Asian economies in the process of decision making and governance in the IMF," he said this morning.
He is considered up to now the IMF has not fully put its role to ensure stability and promote economic growth in developing countries in Asia.
Hyun Joon remind the IMF must change with the new realities of post-crisis. "Asia is growing is a key pillar of the world economy. It is time to build a new relationship between the IMF in Asia."
He expressed confidence the IMF has an important contribution to preparing and strengthening the financial safety net in the world.
Through the IMF Spring Meeting in Washington DC that took place last April, the International Monetary and Financial Committee of the institution is not able to finalize the reform of quotas by 5%. They just promised it would be completed before January 2011 agenda For the latest updates PRESS CTR + D or visit Stock Market news Today
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