Home / International / News Tools: Save | Print | E-mail | Most Read | Comment
Zoellick highlights China's role in WB, IMF shares
Adjust font size:

World Bank President Robert Zoellick said in Washington Sunday that he believes China and other rising economies will be "fairly and fully represented" in World Bank and the International Monetary Fund (IMF) shares.

"It is time to change the shares," Zoellick told a press briefing at the World Bank and IMF spring meetings held in Washington.

He said "when the Chinese representative speaks, people are counting their number of votes, looking what China brings to the table, which is a combination of its development experience, resources, growing influence and investment."

"So in that sense, I think the developing countries are getting their due not because some one giving their shares, but because they owned it through they have accomplished,

But he also reminded the international community not to "lose sight of the poorest."

"It's not only the question of the size of economy, but engaging all the players in the multilateral system," the World Bank president said, citing the institution has added a 25th seat for the sub-Saharan Africa in its first round of reform.

"I think that is just as important as representing the rising powers," he said. The current spring meeting of the World Bank and its sister institution IMF, held on Saturday and Sunday in the U.S. capital, is the largest world gathering since the G20 Summit meeting in London in early April.

Finance ministers and central bank presidents from all over the world assembled to seek the ways to better combat the current global financial crisis, which, according to both the World Bank and the IMF, is far from over despite the recent signs of stabilization.

(Xinhua News Agency April 27, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related
- IMF projects China 2009 growth at 6.5%
- Vice-premier: China will aid IMF bond scheme
- IMF creates new credit line, streamlines loan conditions 
- China may offer IMF US$100b at G20 summit
- China 'a bright spot' in 2009 world economy: WB official
- WB lends US$450 mln for rail, highway projects in China