IMF closes Morocco meetings without consensus on funding terms, conflict language
© Reuters. International Monetary and Financial Committee Chair Nadia Calvino and International Monetary Fund Managing Director Kristalina Georgieva arrive for a news conference during the annual meeting of the International Monetary Fund and the WorldMARRAKECH, Morocco -International Monetary Fund countries on Saturday failed to agree on a U.S.
Calvino, the Spanish economy minister, said the International Monetary and Financial Committee was unable to reach consensus on a joint communique amid disagreements over conflict language, despite many member countries condemning both Russia's invasion of Ukraine and the killing of civilians in both Israel and Gaza.But language was still being negotiated late on Saturday afternoon, sources familiar with the talks said.
But China continued to push back against it. People's Bank of China Governor Pan Gongsheng said in a statement to the IMFC that China wanted both a quota increase and a realignment of shares"to reflect members’ relative weights in the global economy, and strengthen the voice and representation of emerging markets and developing countries."
But the week was overshadowed by the growing conflict between Israel and Gaza, and Georgieva closed the event with an ominous warning that it was adding to global economic uncertainty.
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