South Korea’s Lee wants IMF reforms by G20 leadership summit

GYEONGJU, South Korea, Oct 22 (BestGrowthStock) – South Korean
President Lee Myung-bak said on Friday that quota and
representation adjustments at the IMF should be implemented by a
G20 leadership meeting next month.

Lee, whose nation is hosting a G20 finance and central
bank meeting on Friday and Saturday, and next month’s
leadership summit starting Nov. 11, said G20 members
should find a way to achieve more balanced and sustainable
growth in the world economy and broaden representation at
the IMF.

There is general agreement that countries driving the
global economy should have proportional representation in global
councils like the IMF and World Bank — but a debate on who
should cede power. [ID:nN04141757]
(Reporting by Choonsik Yoo; Editing by Ed Lane)

South Korea’s Lee wants IMF reforms by G20 leadership summit