China criticizes America’s failure to ratify the International Monetary Fund reforms

China criticizes America’s failure to ratify the International Monetary Fund reforms

13/12/2014 11:17 GMT

China criticizes Americas failure to ratify the International Monetary Fund reformsAgencies – China expressed great disappointment of the United States failed again in the ratification of the plan to reform the International Monetary Fund, said a spokesman for the Chinese Foreign Ministry Hong Lei.
Hong said, during the press conference, said that China is disappointed by the failure of the US Congress in 2010, and included the share package IMF reform governance in the budget bill.

The United States has come under pressure during the Group of Twenty summit in Brisbane for the ratification of the share in 2010 and a package reform IMF governance by the end of the year, but it is the largest contributor to the International Monetary Fund to now, the United States’ ratification is necessary necessary from 85 to approve percent of the total membership of over voting power.

And met with the plan, which provides for the granting of the IMF more funds and reduce American influence rejected in the United States, and the failure of the final budget passed by the US Congress on Tuesday the law in the ratification of the reforms needed in the IMF work to destroy the hopes for the approval of the United States on reforms in date by the end of the year.

The IMF will begin now in the formulation of alternative options for the new reforms by January According to a statement, a spokesman for the fund William Murray last Thursday, the Fund’s board will meet next month to study “alternative options” for the reform plan in 2010.

Hong said, the implementation of the 2010 reform plan is necessary for the credit, efficiency and capacity of the International Monetary Fund, “The Chinese side will continue to urge the United States to ratify the plan as soon as possible.” He pointed out that China is ready to play a constructive role in securing a larger share as well as giving greater opportunity for participation of emerging economies and developing countries in the IMF even before entering the 2010 reform plan into effect. Q, Q