Monday December 17, 2018
Home Business IMF: India am...

IMF: India among its 10 largest members

0
//
Republish
Reprint

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: bnm.org)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Here’s A List of Top 5 Gadgets of India in 2018

Samsung Galaxy Tab S4 for Rs 57,900 is packed with rich features -- both for the workaholic and the lazy soul

0
Canon
Top 5 gadgets that grabbed eyeballs in India in 2018. (IANS)

From high-end tablets to powerful cameras, the year 2018 saw some cool gadgets arriving in India. Here are the top 5 picks from the lot.

1. Apple Watch Series 4

Call it guardian of your health. If you are constantly worried about an elderly person in your family suffering a fall in the bathroom or in the garden, the Apple Watch Series 4 is what you need.

The device houses a feature called “Fall Detection” that will alert emergency contacts saved in your iPhone in case you meet with a hard fall.

The new Watch has an electrical heart sensor with two new features — low heart rate notifications and faster heart rate reading. The moment you get furious, Watch Series 4 sends you an immediate notification about your heart rate going through the roof, requiring you to cool down.

In the US, Apple Watch Series 4 will now help users take an electrocardiogram (ECG) right from their wrist and check irregular heart rhythms (hope these features come to India soon).

Apple Watch Series 4 is now available in India — the GPS+Cellular variant starts from Rs 49,900 and GPS-only model from Rs 40,900.

Apple Watch
Apple watch series 4.

2. Samsung Galaxy Tab S4

Samsung Galaxy Tab S4 for Rs 57,900 is packed with rich features — both for the workaholic and the lazy soul.

The 2-in-1 comes equipped with Samsung “DeX” (docking station) and S Pen, making it a perfect device for those who are always on the go and seek entertainment on the side.

The redesigned S Pen offers services like navigate, translate and organise notes — and even to send personalised texts via Samsung “Live Message”.

The device has a Qualcomm Snapdragon 835 processor, runs Android 8.1 Oreo, has 4GB RAM in two 64GB and 256GB internal memory with microSD variants. There is a 13MP rear and 8MP front camera.

If you are a Samsung smartphone user, especially Note 9, and want the same experience on a bigger display, Galaxy Tab S4 is your default choice. Invest in a Book Cover Keyboard to give the tab a laptop-like form factor.

3. OnePlus 6T

Undoubtedly the flagship killer of the year in the Rs 30,000 – Rs 40,000 segment.

The company’s latest addition packs in all the goodness of OnePlus 6 along with meaningful upgrades such as the much-anticipated under-display fingerprint sensor, a smaller waterdrop-style notch and a bigger battery.

The 6T is OnePlus’ costliest smartphone so far with a price tag of Rs 37,999 (for the 6GB RAM and 128GB internal storage base variant). It is also available in a configuration of 8GB RAM+128GB storage and 8GB RAM+256GB storage for Rs 41,999 and Rs 45,999, respectively.

OnePlus has brought a slew of meaningful upgrades to the 6T and the phone definitely looks and feels better this time. Topped with a bigger battery and some hardware improvements, OnePlus 6T makes for a highly desirable smartphone in the premium category.

4. Amazon Echo Plus (2nd Gen)

The Rs 14,999 All-New Echo Plus (2nd Gen) with a smarter Alexa comes with a built-in smart hub that helps you set up compatible Zigbee-enabled smart home devices directly, just using your voice.

Just ask Alexa to discover your devices and begin controlling compatible lights, plugs, locks, thermostats, sensors and in-wall switches.

With seven microphones, beam-forming technology and noise cancellation, Echo Plus will hear you from all directions.

One feature that is worth mentioning is the equaliser (EQ) feature that allows users to personalise sounds by adjusting the bass, mid-range and treble.

Just ask Alexa to increase or decrease a specific band like “turn up the bass” or “decrease the treble” and she does it for you.

The second-generation Echo Plus with a far more intelligent Alexa is a real upgrade if you have experienced the first generation Echo.

Google , US, Alexa
With seven microphones, beam-forming technology and noise cancellation, Echo Plus will hear you from all directions. Pixabay

5. Canon EOS R

The first full-frame mirrorless camera from Japanese camera maker Canon, the 30.3MP EOS R is the show stopper.

With the new EOS R, four types of RF mount adapters have been introduced to complete the EOS R ecosystem.

The EOS R features an electronic viewfinder. The camera is equipped with features like advanced Dual pixel CMOS AF, Digic 8 imaging processor, High density AF points positions, Multi-function slider bar, Flexible AE Mode and High speed data communication RF mount.

Also Read- Account Removal, Information Requests up From India: Twitter

The RF lens mount is a balance of optical, mechanical and electronic engineering excellence, enabling innovative full-frame lens designs, faster auto focus and high-speed communication between the camera and lens.

The 54mm diameter RF mount is what makes EOS R unique with its short back-focus of 20mm and 12-pin contact points for enhanced communication between the lens and body.

The camera costs Rs 189,950 and with the EOS R kit (RF24-105mm f/4L IS USM Lens), the price is Rs 278,945. (IANS)