Looks like a stalwart for backwards economic policy has decided to give in to some demands for democracy. The IMF is going to let almost-rich countries speak.

“The IMF has announced that it plans to boost the voting shares of big, rapidly growing developing countries, particularly China. And the IMF will organize multilateral consultations with top officials from large countries about how their economic policies affect each other and the world–going beyond traditional single-country consultations. The moves would boost the IMF’s legitimacy and relevance.”

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