New IMF voting policy out by April

    Emerging economies might finally gain a stronger voice within the International Monetary Fund, once the agency unveils the new voting formula in two months. The IMF board will have a look at and approve the proposal before a meeting of international economic leaders from April 12 to April 13. Developing member states of the IMF have long called for reforms on the existing voting system, which has weighed heavily in favor of the United States, European countries, and other affluent nations. “There is great confidence that a deal on a new IMF formula will be found at the next IMF Spring meeting,” a European IMF official said. “The IMF wants to present a proposal that would have the support of most IMF shareholders and that could be close to the final agreement.”

    Source: Deal on IMF voting formula likely in April (Reuters)

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