11/8/2010

Turkey’s IMF quota raised, becomes 20th biggest

Dokuz Sutun - Turkey has become the 20th largest economy in the International Monetary Fund (IMF) after the IMF Executive Board approved the administrative reform proposal after a day of discussion.

The reform calls for increased quotas for emerging countries, including Turkey. Turkey’s quota has risen from 0.658 percent to 0.977 percent, making Turkey the 20th largest economy in the IMF. The country’s voting power in the organization has also risen to 0.953 percent, upping Turkey’s quota to nearly 1 percent from the level of 0.6 percent in 2008.

Following the reform, the 20 largest economies in the IMF were ranked as follows: the USA, Japan, China, Germany, France, the UK, Italy, India, Russia, Brazil, Canada, Saudi Arabia, Spain, Mexico, the Netherlands, South Korea, Australia, Belgium, Switzerland and Turkey.
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turkey; imf; executive board; largest economy; imf quota; emerging countries