IMF voting system needs reforming, say Russia India and China

IMF voting system; The foreign ministers of Russia, India and China have jointly called for the IMF’s voting system to be reformed  to give the world’s developing countries a greater say. As things stand, the quotas of China, Russia and India  – which dictate the importance given to their votes  – are 4%, 2.5% and 2.44% respectively. The US, on the other hand,  has a quota of 17.69%; and as all key decisions require 85% approval to be carried, this means that the US  can effectively veto any proposal. Lenta