Saturday 20/Sep/2025 – 12:02 AM
Dr. Mahmoud Mohy El -Din, CEO of the International Monetary Fund and the United Nations Special Envoy for Development, said that the last review of the World Bank’s capital was held in 2015, and that was the first increase in a long time.
He explained that he was within the work team responsible for this increase, stressing that the review reviews in international financial institutions are not merely a purely technical or financial issue, but rather a deep political consensus between member states.
Mohiuddin: The World Bank’s paid -up capital requires a political before the economic
Muhyiddin added, during his meeting with the Maspero Cultural Salon, which is shown on the “Extra News” screen, that the process is not simple, because the distribution of weights and shares depends on the economic proportions of countries in the global economy, which makes some of the rising countries such as China and India, despite their great growth, do not have shares that reflect their true strength.
He continued that China is ranked third in the World Bank in terms of shares, and India is expected to reach the third rank soon, while some European countries have seats and shirts that exceed the size of its current economy.
Muhyiddin emphasized that the collision between the technical side and the political side in these reviews is normal, and that politics should not be ignored or marginalized, but rather it must be intelligently managed to be a motive for consensus, not an obstacle. He explained that politics remains a fundamental factor in the international battle, noting that exceeding political differences is a major challenge, especially in the frameworks of cooperation between developing or medium countries.
He pointed out that political differences are not confined to major issues, but may arise even between adjacent countries such as Singapore and Malaysia, especially in sensitive topics such as water, which highlights the importance of understanding and economic cooperation as a way to bring the views closer.
He stated that the economy may overcome politics if the real desire to achieve common interests is available, pointing out the need to follow the percussive approach that balances political and economic interests.
Muhyiddin concluded his speech by referring to the experiences of countries such as Switzerland and Singapore, which managed to manage their financial crises by investing in infrastructure and economic development, which gave them the ability to recover quickly, compared to countries such as Greece that faced severe financial crises and had to request the support of the International Monetary Fund.
