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#10 - JRL 8206 - JRL Home
Russia could gain more clout in IMF
May 13, 2004

Moscow. (Interfax) - Russia's position as a shareholder in the International Monetary Fund is fairly strong and may become still stronger as the country's economy grows, Russia's executive director of the IMF Alexei Mozhin told Interfax on Thursday.

He disagreed with the view that Russia's clout in the fund is not impressive, and that Russia cannot influence the IMF's decisions to a great extent.

This view had been expressed by Yevgeny Yasin, scientific leader of the Higher School of Economics, in an Interfax interview. "Russia is not likely to make a real impact on IMF policy, because the United States and, to a lesser degree, the EU, plays a decisive role there. We could support the EU on some issues, but this is not likely to be noticed," he said.

Mozhin said: "I would not share this view. Russia has strong positions in the fund, the tenth largest quota of the capital, a permanent position on the board of executive directors, and full-scale participation in every discussion."