Is the IMF’s relocation to Beijing imminent? asks Congress leader Shashi Tharoor

Congress leader Shashi Tharoor on Tuesday said that International Monetary Fund’s (IMF) headquarters will be located in the world’s largest economy.

He said that for 75 years the IMF HQ is in Washington, DC. With the way the US and Chinese economies are moving after Covid-19, is the IMF’s relocation to Beijing imminent.

Is the IMF’s relocation to Beijing imminent?” Tharoor posed the question on his Twitter handle.

“The International Monetary Fund’s by-laws specify that its headquarters will be located in the world’s largest economy. For 75 years this placed it in Washington, DC. With the way the US and Chinese economies are moving after #Covid-19, is the IMF’s relocation to Beijing imminent?”

The IMF itself says China will be the only major economy to grow this year. It predicts that China will expand 1.9 per cent in 2020, while the U.S. would shrink by 4.3 per cent. China’s growth will accelerate to 8.4 per cent next year, says the IMF, compared to 3.1 per cent in the United States. Challenging!” he said in a tweet.

According to Johns Hopkins University, there are 8,210,867 COVID-19 cases in the US while China’s tally stands at 91,006 cases.