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IMF: India among its 10 largest members


Washington: The International Monetary Fund’s (IMF) historic quota and governance reforms that India, China, Brazil and Russia have become a part for the first time among its 10 largest members.

The reforms also increase the financial strength of the IMF, by doubling its permanent capital resources to SDR 477 billion (about US$659 billion) from about SDR 238.5 billion (about US$329 billion) entered into force Tuesday.

Other top 10 members 188-nation agency include the US, Japan, and the four largest European countries – France, Germany, Italy, and Britain.

The reforms represent a major step toward better reflecting in the institution’s governance structure the increasing role of the dynamic emerging market and developing countries, according to the organization’s announcement.

The entry into force of these reforms will reinforce the credibility, effectiveness, and legitimacy of the IMF, it said.

The conditions for implementing IMF’s 14th General Quota Review, which delivers historic and far-reaching changes to the governance and permanent capital of the Fund, have now been satisfied, IMF said.

The amendment to the IMF’s Articles of Agreement creating an all-elected IMF’s Executive Board (Board Reform Amendment) entered into force on Tuesday.

The quota increases under the 14th Review, which were conditional on the entry into force of the Board Reform Amendment, are expected to come into effect in the coming weeks, IMF said.

“I commend our members for ratifying these truly historic reforms,” International Monetary Fund Managing Director Christine Lagarde said.

“These reforms will ensure that the Fund is able to better meet and represent the needs of its members in a rapidly changing global environment. Today marks a crucial step forward and it is not the end of change as our efforts to strengthen the IMF’s governance will continue.”

Main outcomes of the 2010 quota reforms:

.More than 6 percent of quota shares will shift to dynamic emerging market and developing countries and also from over-represented to under-represented members.

. The quota shares and voting power of the IMF’s poorest member countries will be protected.

. For the first time, the IMF’s Board will consist entirely of elected Executive Directors, ending the category of appointed Executive Directors. Currently, the members with the five largest quotas appoint an Executive Director.

. The scope for appointing a second Alternate Executive Director in multi-country constituencies with seven or more members has been increased to enhance these constituencies’ representation in the Executive Board.

As a result, 13 constituencies including both African constituencies are currently eligible to appoint an additional Alternate Executive Director.

. Advanced European countries have committed to reducing their combined Board representation by two chairs.

. Following the effectiveness of the 14th General Review of Quotas, the focus will now turn to work on the 15th General Review of Quotas and securing the necessary broad consensus, including on a new quota formula.(IANS)(image:

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Pentavalent vaccine: Doctors raise red flag

In spite of the data presented in this paper from a large cohort, the authors point out that the evidence is merely circumstantial and not conclusive

the new Hepatitis B vaccine for adults is called Heplisav-B.
India's PV to be reexamined because of its harmful effects. .
  • Pentavalent vaccine was introduced in India six years ago
  • It is since then have been a cause of many deaths
  • Doctors want it to be reexamined before continuing its use

Pentavalent vaccine (PV), that was introduced by India a little over six years ago, doubled the deaths of children soon after vaccination compared to the DPT (Diphtheria-Pertussis-Tetanus) vaccine, according to a new study that calls for a “rigorous review of the deaths following vaccination with PV”.

Health officials have launched a campaign targeting nearly 24 million people with a one-fifth dose of the vaccine. Wikimedia Commons
PV has been cause of many deaths in past years. Wikimedia Commons

Government records show that there were 10,612 deaths following vaccination (both PV and DPT) in the last 10 years. There was a huge increase in these numbers in 2017, which the Health Ministry has promised to study. “The present analysis could be a starting point in the quest to reduce the numbers of such deaths,” authors of the new study say.

The study by Dr Jacob Puliyel, Head of Pediatrics at St Stephens Hospital, and Dr V. Sreenivas, Professor of Biostatistics at the All-India Institute of Medical Sciences (AIIMS), both in New Delhi, is published in the peer-reviewed Medical Journal of Dr D.Y. Patil University.

PV is a combination of the DPT vaccine and two more vaccines against Haemophilus influenza type B (Hib) and hepatitis B. Starting December 2011, PV was introduced into India’s immunisation programme to replace DPT vaccine in a staged manner with a view to adding protection against Hib and Hepatitis B without increasing the number of injections given to infants.

Doctors have raised concerns over these vaccines. Wikimedia Commons
Doctors have raised concerns over these vaccines. Wikimedia Commons

But sporadic reports of unexplained deaths following immunisation with PV had been a matter of concern. Puliyel, Sreenivas and their colleagues undertook the study to find out if these deaths were merely coincidental or vaccine-induced.

The authors obtained data of all deaths reported from April 2012 to May 2016 under the Right to Information Act. Data on deaths within 72 hours of administering DPT and PV from different states were used.

For their study, the authors assumed that all deaths within 72 hours of receiving DPT are natural deaths. Using this figure as the baseline, they presumed that any increase in the number of deaths above this baseline among children receiving PV must be caused by this vaccine.

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According to their analysis of the data provided by the government, there were 237 deaths within 72 hours of administering the Pentavalent vaccine — twice the death rate among infants who received DPT vaccine.

Extrapolating the data, the authors have estimated that vaccination of 26 million children each year in India would result in 122 additional deaths within 72 hours, due to the switch from DPT to PV.

“There is likely to be 7,020 to 8,190 deaths from PV each year if data from states with the better reporting, namely Manipur and Chandigarh, are projected nationwide,” their report says.

It is important to make sure that these vaccines are reexamined peroperly. VOA

The authors note that while the study looks at the short-term increase in deaths (within three days of vaccination) it does not calculate the potential benefits of PV on infant mortality, for example by protection against lethal diseases like Haemophilus influenza.

In spite of the data presented in this paper from a large cohort, the authors point out that the evidence is merely circumstantial and not conclusive. “These findings of differential death rates between DPT and PV do call for further rigorous prospective population-based investigations,” the study concludes. IANS