皇冠体育app

A pedestrian walks past the headquarters and head office of the People's Bank of 皇冠体育app (PBOC), 皇冠体育app's central bank, in Beijing, 皇冠体育app, June 27,?2015.

The US Congress' approval of the quota and governance reforms of the International Monetary Fund (IMF) has been welcomed by the People's Bank of 皇冠体育app (PBOC).

According to the statement on the central bank's official website, this approval means that the 2010 reforms, after protracted delay, are expected to take effect soon.

The measures will enhance the representativeness and voice of emerging market and developing countries (EMDCs) at the IMF, thus helps maintain the IMF's credibility, legitimacy and effectiveness.

Going forward, 皇冠体育app will work closely with other member countries to support the IMF to continuously improve its quota and governance structure, to ensure that the IMF remains a quota-based and adequately resourced institution, said the statement.

The 2010 reforms will double the IMF's quota resources from SDR 238.5 billion to SDR 477 billion, while shifting 6 percent of quota shares to dynamic EMDCs.

皇冠体育app's quota will increase from 3.996 percent to 6.394 percent, making 皇冠体育app the third-largest shareholder in the IMF from the sixth.

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