Pan Gongsheng: The International Monetary Fund should continue to promote quota reform and achieve adjustments in quota shares as soon as possible

On October 17, 2025, Eastern Time, Pan Gongsheng, Governor of the People's Bank of China, stated at the 52nd International Monetary and Financial Committee series of meetings that the current global multilateral trading system is facing unprecedented challenges. The International Monetary Fund, as the world's most important multilateral financial institution, should clearly oppose protectionism, advocate for dialogue and cooperation, and defend multilateralism. The Fund should objectively assess the major risks faced by the global economy and individual countries, and timely propose more targeted policy recommendations to help member countries better cope with various shocks. At the same time, it should strengthen policy guidance for countries, effectively enhance macroeconomic policy coordination, and maintain the stability of the international financial system. The trade tensions are impacting global financial stability, and there is an urgent need to strengthen the global financial safety net. As the core of the global financial safety net, the Fund's continued promotion of quota reform is crucial for enhancing its legitimacy, effectiveness, and representation. The adjustment of quota shares should be realized as soon as possible to reflect the relative positions of member countries in the global economy and increase the representation of emerging markets and developing countries