Russia's Putin Urges Action On Imf Reform
Summary for: Russia's Putin Urges Action On Imf Reform
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Business article on Russia's Putin urges action on IMF reform regarding Economic, Monetary, Russian, Putin, Financial, International, Reflect, Reform, Russia, Summit, Group, Brazil, Nations, India, Brics, Called, Pledged, Promises, Greater
The world's leading economies should act to reform the International Monetary Fund to reflect shifts in economic power, Russian President Vladimir Putin said on Thursday.
"We need to move from declarations to real reform of the International Monetary Fund and other financial institutions that reflect the real distribution of economic forces," Putin said in an address to a financial forum.
The Russian leader spoke after returning from a Group of 20 summit at which the so-called BRICS nations - Brazil, Russia, India, China and South Africa - pledged $75 billion to the IMF in return for promises for a greater say in its decision making.