Washington: Developed countries are resisting the reform of the International Monetary Fund’s (IMF) representation quotas, Russia’s finance minister Alexei Kudrin said on Sunday.
Emerging nations, led by Brazil, Russia, India and China, also known as BRIC, want to increase their representation in the IMF, aiming for agreement on reforms by January 2011.
“We already meet cool attitude and even resistance (to reform plans),” Kudrin told reporters in Washington. “The leading countries are not in a hurry... This was the main discussion, the nerve of the IMF meeting.”