Recession Global

Reform of the International Monetary Fund will not go on the script, dictated by the London and Paris.This is evidenced by published on Tuesday, August 4, record of the meeting, the Board of Directors of the IMF on the management reform of the international financial organizations. Self meeting was held on 21 July, and professionals take the fund had a lot to diplomatically describe the contents of the public debate, writes Newsru.com with reference to the newspaper Vremya Novostei.As a result of management reform at the IMF does not currently exist. None of the ideas that promoted the Managing Director of the Fund, Dominique Strauss-Kahn, did not receive the support of the board. However, even taking into account that the proposed initiatives were at least controversial (and some of them are clearly contrary to the international status of the organization), such a defeat the first time, notes the newspaper. And for the first time demonstrated its strength Coalition BRIC countries (Brazil, Russia, India and China), about the conventionality of common interest which has been fashionable to talk in recent times.As the executive director of the IMF from Russia Alexei Mozhin, the BRIC countries, as well as a number of developing countries were made on the reform of the fund from the consolidated position. He declined to name specific countries that have joined the «Quartet», but made it clear that support for the position of BRIC has been quite broad.Such consolidation suggests that in fact the reform, which promoted Dominique Strauss-Kahn, is contrary to the interests of developing countries. Meanwhile, the concept of reform must be presented at the annual meeting of IMF and World Bank, to be held in October in Istanbul.The need for reform of the IMF - a recognized fact. The resolution was held in early April in the London summit «big twenty» its leaders have subscribed to the following words: «We are committed to reform and modernize the international financial institutions so that they can effectively assist the members and shareholders to overcome the new difficulties that they face. We are reforming their mandates, terms of reference and management, taking into account changes in the global economy and the new challenges of globalization, that the voice of emerging market economies and developing countries, including the poorest among them, was better heard and they were better represented » .