Mexico agrees to talk about tough NAFTA issues
The Dollar Business Bureau Mexico agreed on Wednesday to start discussions on tough issues in the renegotiation of the North American Free Trade Agreement (NAFTA) which is likely to begin on August 16. Canada has vehemently opposed a US proposal to do away with binational dispute resolution panels in which experts on the review panel review the decisions to impose tariffs or quotas. Though the Mexican Economy Secretary Ildefonso Guajardo denied taking any immediate position on the ‘panel issue’, but added that Mexico is keen to see that the process is modernised. In an interview Guajardo refused to take any stand, ‘I don’t think that when you start negotiations, it does any good to shadow box.’ He instead agreed to putting strong ...
IMF implements quota reforms; India gets more voting rights
Source: PTI Marking a “historic” change at IMF, India, China and other emerging economies will now have more voting rights at the multilateral funding agency with the implementation of long pending quota reforms. For the first time, the four emerging economies – India China, Brazil and Russia – would be among the 10 largest members of the International Monetary Fund. Besides, more than 6% of quota shares would shift to dynamic emerging markets and developing countries. It would also mark the shift in shares from over-represented to under-represented IMF members. The much-awaited quota reforms, pending for many years, were approved by the US Congress in 2015. The 2010 Quota and Governance reforms were approved by the IMF's Board of Governors in ...
