CABINET SUPPORTED IMF AMENDMENTS RATIFICATION

Ulaanbaatar /MONTSAME/ The cabinet of Ministers decided on Monday to present to parliament a draft resolution on ratifying the amendments to the General Agreement of the International Monetary Fund (IMF). The amendments have been made in regard of the recent change to the Board of the IMF. In order to improve the voicing of the developing countries in the organization, the IMF is implementing a package of innovations on governance quotas. As a result, Mongolia will be able to improve its involvement in the decision-making processes. Mongolia joined the IMF in 1991.