Finance

IMF: "Turkey would be the most profitable country"

Mark Lewis, International Monetary Fund (IMF) Resident Representative for Turkey, stated that Turkey would be the most profitable country in the quota increase for the balance in representation and said: “The right to vote will be 1 percent. This means entering the first 20 in voting in IMF.” Mark Lewis said: “Turkey will receive an increase of almost 300 percent of quota share. Thus Turkey’s right to vote will have been 1 percent from will rise from 0.62 percent which was previously increased from 0.42 percent. This means a top 20 in right to vote.

Turkey can take a seat

Reminding that IMF has 187 members, Mark Lewis mentioned European Union (EU) would lose two seats after the increase in quota and told the following: “The recommendations on the reform which IMF has been carrying out for a while are now decided. We wait for the parliaments of some countries to decide to pass reforms. Turkey, in the same group with Belgium, Austria and several Eastern European countries is a very strong candidate for one of the new seats when the process is complete. After increasing the quotas, BRIC countries (Brazil, Russia, India and China) will enter the top 10 in terms of voting rights within the IMF. Thus, a more balanced structure in representation within the organization will have been composed.”

Strong ground for Note

Stressing Turkey is far more powerful than many countries in the crisis environment, Lewis said: “I can understand why Turkey is in an anticipation of expansion for the note. Turkey has a strong ground for an increase in the note.”

Friends from IMF ask for Turkey

“Turkey draws attention in the international markets with the high growth rate and in particular the decrease in unemployment in recent months. The friends working in IMF in other countries ask for Turkey. They are curious about the developments in Turkey. We keep in touch with the friends in all the member countries. Turkey is one of the most notable countries.”

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