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EU set to lose out on US drive for IMF reform

30 Aug '06
1 min read

The EU is facing an overall loss of power in the International Monetary Fund (IMF) as the US plans to increase the voting weight of emerging states such as China in the body.

Europe currently has over a third of the voting weights of the 184-member IMF, a key international organisation which seeks to secure monetary and economic stability around the globe notably by providing credits to states with financial problems.

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EUobserver

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