BREAKING NEWS

IMF shareholders endorse maintaining resources, delay shareholding changes

IMF shareholders endorse maintaining resources, delay shareholding changes
FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva arrives for her first day in her new post at IMF headquarters in Washington, U.S. October 1, 2019. REUTERS/Jonathan Ernst -
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JONATHAN ERNST(Reuters)
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WASHINGTON (Reuters) – The International Monetary Fund said on Friday its 189 member countries had agreed to maintain the IMF’s $1 trillion in total lending resources while delaying changes to its shareholding structure to as late as December 2023.

IMF Managing Director Kristalina Georgieva announced the decision at the IMF and World Bank fall meetings, saying that the move will provide confidence that the IMF can adequately support members as they deal with slowing global growth.

(Reporting by Heather Timmons; Editing by Paul Simao)

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