Depaul13: Bodi.. So how long do you think this will take?
BODI: DEPAUL….THAT I DON’T KNOW….BUT I KNOW WE ARE IN THE MIDST OF IT
DEPAUL THIS IS THE BIGGEST THING HAPPENING IN THE HISTORY OF THE WORLD….NEVER TO REPEAT AGAIN FOR POSSIBLY 26,000 YEARS
Pavi: BODI Or Imperium Amy thoughts on what was said about the higher rate on Zim yesterday
Cowboy: From the call yesterday, did they say Zim denoms down to the millions would be redeemable?
MDinn: COWBOY YES I THINK ALL DENOMS
DYoungdc: Have we heard anything about Singapore?
BODI: DYOUNGDC WE’VE HEARD ITS STARTED…HOW LONG IT WILL TAKE TO GO EAST TO WEST WE DON’T KNOW
BODI: DIOGENES YOU COULD BE RIGHT AND IF IT IS GETTING RID OF THE CRUD….I DO NOT MIND DELAYS
Iko Ward: Though it’s disappointing we aren’t at the banks this morning, the amount of supporting intel concerning the GCR/RV is staggering.
Iko Ward: so is the news about layoffs and international business. They have now blocked out the entire coast of Iran on MarineTraffic. But i have confirmations from others using satellite tech that the northern gulf is full of ships
CODreamer: Iko do you think they would wait for all the US banks to open, including Hawaii? For us to find out, I mean
Iko ward: Co…anything is possible. That makes sense for a fairness perspective.
Clemsonfan: If the currency is currently being traded incognito, I think that those trades are driving the exchange rates higher…that makes me smile……I don’t want to be the firsrt mouse.
Miryav: IKO DO YOU THING THAT SOMEONE IS HOLDING This UP ?
Iko Ward: Guys, forget the Singapore intel. It didn’t happen. May have even been a sting for all we know.
Walkingstick: CBI News & Announcements
(Announcement issued by the Central Bank of Iraq) the Bank would like to announce support for the efforts to rehabilitate the Warka Bank for Investment & Finance and allow him to exercise all banking activities
Walkingstick: BRICS gets greater say in IMF
Published time: 28 Jan, 2016 11:50
“The entry into force of these reforms will reinforce the credibility, effectiveness, and legitimacy of the IMF,” read the IMF statement.
“The reforms represent a major step toward better reflecting in the institution’s governance structure the increasing role of dynamic emerging market and developing countries,” it added.
China will have the third largest IMF quota and voting share after the United States with 16.74 percent and Japan with 6.23 percent.
IMF chief Christine Lagarde on Wednesday commended members “for ratifying these truly historic reforms.”
The 2010 IMF reforms called for an increase in China’s voting share from 3.8 percent to 6 percent, while the US would see its share shaved from 16.7 percent to 16.5 percent and preserve its veto.
The reforms were part of President Obama’s effort to keep China happy and within the Bretton Woods system, but stalled in Congress over Republican concerns.
The US is the biggest member of the IMF and is the only one to have a veto, as 15 percent is a blocking share.
Despite the increased quotas, BRICS countries will still only have a 14.7 percent voting share, not enough for a veto.
https://www.rt.com/business/330438-imf- … sia-china/
Walkingstick: IMF implements quota reforms; gives voting rights to India, China
Thu, 28 Jan 2016-09:50am , Washington , PTI
The International Monetary Fund (IMF) has announced implementation of its long due quota reforms which was approved by the US Congress last year that will give more voting rights to emerging economies like India and China in the functioning of the organisation.
The reforms by IMF represent a major step towards better reflecting in the institution’s governance structure, the increasing role of dynamic emerging market and developing countries, IMF said in a statement, adding that this will reinforce its the credibility, effectiveness and legitimacy.
For the first time four emerging market countries (Brazil, China, India, and Russia) will be among the 10 largest members of the IMF.
The reforms also increase the financial strength of the IMF, by doubling its permanent capital resources to SDR 477 billion (about $659 billion).
The IMF reforms that came into effect on Wednesday was approved by it in 2010, but was unable to implement it in the absence of its approval by the US Congress, which it did last year.
As a result of the quota reforms, four emerging market countries (Brazil, China, India, and Russia) will be among the 10 largest members of the IMF.
Other top 10 members include the US, Japan, and the four largest European countries (France, Germany, Italy, and the UK).
Also for the first time, the IMF’s Board will consist entirely of elected Executive Directors, ending the category of appointed Executive Directors.
As a result, 13 constituencies including both African constituencies are currently eligible to appoint an additional Alternate Executive Director, it said.
IMF said following the effectiveness of the 14th General Review of Quotas, the focus will now turn to work on the 15th General Review of Quotas and securing the necessary broad consensus, including on a new quota formula.
With the entry into force of the Board Reform Amendment and all other general effectiveness conditions met, members can now pay for their quota increases to make them effective.
This process is expected to be substantially completed within one month, the IMF said.