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 Power struggle threatens to paralyse IMF

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RR Phantom

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Power struggle threatens to paralyse IMF Vide
PostSubject: Power struggle threatens to paralyse IMF   Power struggle threatens to paralyse IMF Icon_minitimeThu Aug 26, 2010 4:36 am
A power struggle threatens to throw the International Monetary Fund into disarray unless a compromise is reached soon between the United States and Europe over how to give more say to emerging powers.

The United States wants Europe to give some of the seats it occupies on the 24-member board of the global lender to emerging market countries to reflect their growing global economic weight.

Europe has balked at the idea of yielding some of the nine chairs it holds because it is divided over how to do it.

The sides face an October 31 deadline when the mandate of the existing board expires.

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