Brazil protests changes to IMF
Brazil's Finance Minister Guido Mantega said Saturday that a proposal to restructure the voting shares of the International Monetary Fund would damage the legitimacy of the organization.
At an IMF panel of international finance ministers underway in Singapore, Mantega said Brazil was opposed to a proposal to give larger voting shares to China, South Korea, Turkey, and Mexico, with a revision of the voting shares of all 184 members over the next two years.
Brazil and India were leading a group of 24 developing nations opposed to any changing in the voting shares within the IMF, which overseas international monetary policies.
Brazil protests changes to IMF
