Russian President Vladimir Putin will step up demands by emerging powers for a bigger say in the leadership of the International Monetary Fund at a G-20 summit that he’s chairing in September.
The BRICS group of emerging economies, comprising Russia, China, Brazil, India and South Africa, and other rising powers need a greater say in how the Washington-based lender operates so the IMF can meet today’s global challenges, Putin said in an interview with state news service RIA Novosti.
“The most important thing is to revise the IMF quotas and voting system,” he said, according to an e-mailed transcript of the interview. “We will apply maximum effort to convince our partners to find compromises and find acceptable solutions at the G-20 summit in St. Petersburg.”