More countries express support for increasing IMF financing without changing contribution Economy

Support increased on Wednesday for increased US-backed advocacy Sharing loan resources to International Monetary Fund There was no change in the contribution rate, according to statements made by several countries during the annual meeting of the International Monetary Fund in Morocco.

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The United Kingdom, Ghana, Switzerland, Finland and Belgium said in statements to the IMF’s steering committee that they support an equal increase, under which countries contribute money in proportion to their current holdings in the IMF.

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Brazilian Minister of Finance, Fernando HaddadBrazil, which has been pushing for increases in quotas for the country itself, China and other fast-growing emerging markets, said in a statement that Brazil would support this increase in quotas if it was coupled with an increase in quotas “allocated” to the majority. “They are grossly underrepresented” by IMF members.

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