IMF quota distribution to occur after reformation - Kudrin
The decision to distribute quotas among the country participants in the International Monetary Fund (IMF) can be made no earlier than 2010 after the organization's reformation, Russia's finance minister during a press conference on Saturday.
According to earlier decisions, the IMF will be reformed by January 2011.
"In the next few months these decisions will be worked on and are not expected to be accepted before Pittsburg [during the G20 summit in late September], Alexei Kudrin said, adding: "The decisions won't be made any earlier than next year."
During the G20 summit in London, discussions were held on the redistribution of votes in the IMF, giving member countries with rapid emerging markets and poorer countries more voting power in the IMF.
Kudrin attended a meeting of finance ministers comprising the BRIC union - Brazil, Russia, India and China.
The BRIC ministerial meeting was held on the sidelines of a meeting of G20 finance ministers to consider an exit strategy from the ongoing global economic crisis and to take a joint stance on reform plans for the IMF.
