Thursday May 15, 01:00 AM
Commonwealth leaders to discuss IMF, World Bank reform |
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LONDON (Reuters) - Leaders of a dozen Commonwealth countries will meet in London next month to discuss reform of international institutions, such as the International Monetary Fund and World Bank, the organisation said on Wednesday.
Commonwealth leaders voiced concern at a summit in Uganda last year that international institutions designed after World War Two were outdated and agreed to lobby for reforms.
"Some of today's key international institutions, established more than half a century ago are not aligned to the way that the world has changed," said Commonwealth Secretary-General Kamalesh Sharma, who will host the June 9-10 meeting.
"There is a need for change, and that change must reflect the full global spectrum of interests and needs," he said in a statement.
The 53-nation Commonwealth groups mostly former British colonies with a population of 1.8 billion.
The Commonwealth did not say which heads of government would attend the London meeting.
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