Hohey

The International Monetary Fund (IMF) and World Bank have called for the completion of its annual meeting for member countries to take advantage of the global economic crisis as a chance to reform. There were new clashes between police and demonstrators.

Both institutions and the governments of 186 member countries should continue to work on long-term solutions to restore confidence in the global economy and tackle weaknesses, “said the chairman of the plenary meeting, Nguyen Van Giau, Wednesday after four days of deliberations in Istanbul.

Global Economic need for greater monitoring, urged the Vietnamese central bank chief. The two institutions for more than 60 years old, based in Washington, “must continue to modernize if they want to” remain effective.

The World Bank intends to increase until next spring, the voting rights for poorer countries, at least three percentage points to 47 percent. The IMF intends to raise at least five percentage points, to be decided on until January 2011. The united in the G24 emerging and developing countries to criticize the plans and asking six points and seven more at the World Bank at the IMF.

International Monetary Fund and World Bank had warned earlier in the session to consider the crisis, given the economic turnaround has already begun as passed. The multi-billion dollar government aid would initially remain in force. Experts were worried about the organizations are likely to continue rising unemployment.

World Bank President Robert Zoellick recruited at the meeting, with a bumper demand for loans to poor countries better funding of development aid organization. Capital should not be increased, threatening the middle of next year, a “serious shortage” in lending. Rich countries like the U.S. and France expressed their cautious.

At the end of the autumn session, there were new clashes between police and demonstrators. The police used water cannons and tear gas to end removes a protest march of several hundred people to less than a mile from the venue, witnesses said. Masked threw stones and firebombs at the police and destroyed the expenses of several shops. As mentioned yesterday, there were arrests. The protesters complain that the IMF, inter alia, for the economic crises to be significantly responsible.

The next two annual meetings in the fall of 2010 and 2011 can be the seat of the organizations in the U.S. capital. The year after meeting the banker and member countries in Egypt.