IMF reform 'key to tackling downturn'

CAIRO: The reform of the International Monetary Fund (IMF), which aims at increasing the voting weight of emerging economies including China, India, Russia and Brazil, will be finished within 12 months, Youssef Boutros-Ghali, chairman of the fund's International Monetary and Financial Committee (IMFC) said in an interview with China Daily.

The chairman denied that the United States is resisting the reform, though he refused to reveal who has a "problem" with the change.

"I am certain that we will not overcome this crisis without a reform of the IMF, especially increasing the representation of developing countries very significantly," he said.