June 19, 2012 / 2:37 AM / 7 years ago

G20 commit to IMF vote reform by October: draft communique

LOS CABOS, Mexico (Reuters) - The Group of 20 will commit to implement IMF voting reforms “in full” by October to better reflect the rise of emerging countries in the world economy, according to a draft G20 communique.

The draft, obtained by Reuters, said the vote reforms “are crucial to enhancing the IMF’s legitimacy, relevance and effectiveness.”

Emerging economies such as Brazil, China, Russia, India and South Africa have been frustrated by what they see as slow implementation of vote reforms to give them more say in the global lender.

Reporting By Lesley Wroughton

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