MELBOURNE - A consensus has been reached to increase quotas of four countries which are Turkey, China, South Korea and Mexico, and now IMF will take the second step, said IMF Managing Director Rodrigo Rato who spoke at G-20 meetings in Australia on Saturday.
Rato noted that the second step is to agree on a new quota which is transparent and simple and also having a more correct calculation method.
He said that it is necessary to reflect global economic powers of countries like Turkey on distribution of vote and quota of IMF.
He added that quotas of some other countries will also be increased later.
Rato said that IMF aims to settle a global stability in changing global economy by increasing quotas of countries.