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Kudrin to Discuss Sovereign Funds, Quota Reform in IMF
In time of bilateral meetings in Washington, Russia’s Finance Minister Alexei Kudrin will discuss investments of sovereign funds and reforms of the IMF quotas, RIA Novosti reported with reference to a source with Russia’s delegation.
Finance Minister Alexei Kudrin heads Russia’s delegation at traditional Spring Meetings of the IMF held in Washington April 12 and 13. The G7 Finance ministers and chief executives of Central Banks will meet during the event.
The plans are that Kudrin will hold bilateral get-togethers with his counterparts from the United States and Italy as well as with the World Bank President Robert Zoellick and IMF Managing Director Dominique Strauss-Kahn, the source said.
According to the source, Kudrin will discuss the reforms of quotas on the interest in the IMF capital and investment problems of sovereign funds (Reserve Fund and National Welfare Fund in Russia). A couple of weeks ago, the source said, the United States inked agreements with the United Arab Emirates and Singapore, specifying the guidelines for the business of those funds and liabilities of the parties. The review of sovereign funds could be one of the highlights at the Spring Meetings.
“IMF had elaborated the draft report on the funds by the middle of March, saying the funds exist in such and such countries, dealing with such and such, having such and such plusses and such and such minuses,” the source explained.
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