Oxfam reaction: G24
Oxfam spokesperson Elizabeth Stuart said:
"IMF governance reform should not be held hostage to the fight over exchange rates. Emerging markets need their rightful place at the table irrespective."
"Africa is hugely under-represented at the IMF. A third chair for Africa would be a step towards making the institution fit for purpose in the 21 st century.
There's now a real danger that the promised shift in IMF board quotas will end up just shuffling power from of one set of emerging countries to another.
This would be totally unacceptable. Heavily over-represented Europe must make way for the new powers.
The IMF reform battle is a confrontation between the old and new, and it's time for the old guard to move aside."
Connecting growth and development
"As the G24 says, aid is essential but insufficient for development. Unless the G20 achieves fairer rules governing trade and finance, the Millennium Development Goals will be a mirage."
Caroline Hooper-Box +1 202 321 2967 firstname.lastname@example.org