Russia becomes one of top ten shareholders of the IMF

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According to a press release issued today by the press service of the IMF, Russia and three of its partners in the BRICS – Brazil, India and China – have entered the top ten member countries of the International Monetary Fund (IMF) according to the size of national quotas. This is one of the results of the reform of quotas and votes in the Fund, which was approved in 2010, but only started working after the US Congress finally stopped blocking it.

"The approval of these reforms by the US Congress is a welcome and crucial step forward that will strengthen the IMF and its role in maintaining global financial stability," TASS quotes the Managing Director of the Fund, Christine Lagarde.

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