Turkey 20th Biggest Economy in IMF

Turkey has become the twentieth biggest economy of the International Monetary Fund (IMF).

The IMF Executive Directors approved an administrative reform proposal after day long talks.The reform increased voting power of developing economies and Turkey’s portion of quota increased as a result. Turkey’s quota jumped to 0.977 from 0.658.Turkey’s portion of vote will be 0.953.

Based on the reform in the IMF, the 20 biggest economies are the United States, Japan, China, Germany, France, Britain, Italy, India, Russia, Brazil, Canada, Saudi Arabia, Spain, Mexico, Netherlands, South Korea, Australia, Belgium, Switzerland and Turkey.