G-20 Summit May Offer ‘Grand IMF Bargain’ to India, China

The Thaindian News reports that the G-20 may offer both China and India greater roles during the April summit meeting in London:

Emerging economic powerhouses China and India may be encouraged to strike a “grand bargain” at a coming London summit in which they will take on a greater role in the international financial system in exchange for keeping down protectionist barriers… [British prime minister Gordon Brown], in alliance with the Australian prime minister Kevin Rudd, wants to increase the funding of the IMF, speed up a review to give China and India “clearer voting rights”, and give the fund powers to direct governments to respond to its surveillance reports, according to The Guardian Tuesday…The Guardian said Brown’s aim is to develop a “grand bargain” in which there is a greater role for emerging economies such as China in the , and easier access to its financial assistance, “in exchange for such countries playing by the global rules and not trying to build up surpluses and reserves as an insurance policy.”

For more on the G-20 Summit:

See also past CDT posts on the IMF and the G-20.

February 17, 2009, 9:39 PM
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