Turkey to wield more power at IMF

Ibrahim Canakci, Turkish member of IMF's Board of Directors said his new position is very important for Turkish presence in international economic coordination

Turkey to wield more power at IMF

World Bulletin/News Desk

Turkey's new representation on the International Monetary Fund's Board of Directors will give the country a strong voice in shaping global economic supervision, the Turkish member of the body said on Thursday. 

And, thanks to the reform of voting rules at the organization, the new director will wield greater voting power.

Former Treasury Undersecretary of Turkey, Ibrahim Canakci was appointed to the IMF Board of Executive Directors on July 17 and took office on Nov. 1.

"Turkey will be able to better follow the developments in global economy and to shape them in a much more active way.”  Canakci said.

Speaking in an exclusive interview with The Anadolu Agency, Canakci said that his new position is very important for Turkish presence in international economic coordination, with particular reference to G-20 discussions.

Canakci pointed out that Turkey’s voting power will increase significantly under the reformed structure of the IMF.

"Turkey’s quota will increase to 0.95 percent from 0.61 percent. Thus Turkey will take its place within first 20 of 188 IMF members.” Canakci said.

Turkey’s quota has been increased two times, in 2006 and 2008. Currently Turkey ranks 32 in the IMF quota chart.

 

Last Mod: 13 Kasım 2014, 14:59
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