Japan to keep IMF's No. 2 shareholder status even after quota reform

The International Monetary Fund's executive body on Tuesday approved a proposal to increase each member's quota by 50 percent without changing the current shareholding ratio, meaning Japan will maintain its No. 2 status within the multilateral lender.There had been concern among Japanese officials that the country would be overtaken by China if the amount of investment in the IMF was determined by the size of each member's economy. The shareholding ratio is linked to each member's respective proportion of voting rights.Japanese Finance Minister Shunichi Suzuki had insisted that increasing t…READ FULL ARTICLE