#aaaa106 - Governance reform in both IMF and the World Bank; voice of developing countries
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We recommit to broadening and strengthening the voice and participation of developing countries in international economic decision-making and norm-setting and global economic governance. We recognize the importance of overcoming obstacles to planned resource increases and governance reforms at IMF. The implementation of the 2010 reforms for IMF remains the highest priority and we strongly urge the earliest ratification of those reforms. We reiterate our commitment to further governance reform in both IMF and the World Bank to adapt to changes in the global economy. We invite the Basel Committee on Banking Supervision and other main international regulatory standard-setting bodies to continue efforts to increase the voice of developing countries in norm-setting processes to ensure that their concerns are taken into consideration. As the shareholders in the main international financial institutions, we commit to open and transparent, gender-balanced and merit-based selection of their heads, and to enhanced diversity of staff.


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