SDR’s and the New Bretton Woods – Part Seven

philosophyofmetrics

Psychological Warfare and Fist Fighting

By JC Collins

Night Club

“We deeply regret that the IMF quota and governance reforms agreed to in 2010 have not yet become effective and that the 15th General Review of Quotas was not completed by January 2014. Our highest priority remains ratifying the 2010 reforms, and we urge the US to do so before our next meeting in April. In April, we will take stock of progress towards meeting this priority and completing the 15th General Review of Quotas by January 2015.”

“We will implement these reforms in a way that promotes an integrated global financial system, reduces harmful fragmentation and avoids unintended costs for business. We commit to cooperate across jurisdictions with a renewed focus on timely and consistent implementation supported by meaningful peer reviews, including OTC derivatives reform.”

From the Communiqué – Meeting of Finance Ministers and Central Bank Governors, Sydney, 22-23 February 2014

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Posted on March 11, 2014, in Uncategorized. Bookmark the permalink. Leave a comment.

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