India to go up the IMF ladder on quota reforms

V S Chandrasekar
Seoul, Nov 10 (PTI) In a significant reflection of the
country's growing economic clout, India will shoot up to the
eighth place in the Board of the International Monetary Fund
once the G-20 countries approve the quota reforms that have
already been proposed.
"India will move to the eighth position in the IMF
Board from its present 22nd position. We will get much more in
the quota share once the G-20 leaders take a political
decision to approve what has been decided by the IMF on quota
increase in 2008," Indian Planning Commission Deputy Chairman
Montek Singh Ahluwalia told reporters here briefing on the
deliberations ahead of the G-20 summit beginning Thursday.
While the decision was taken by the IMF two years ago,
the approval by the G-20 Finance Ministers last month in South
Korea has added significantly to its merit and the decision at
the highest political level in the G-20 will amount to a "seal
of approval" that can be implemented thereon.(More) PTI