From the Washington Post (link):
Scrambling to maintain its influence in a rapidly changing world economy, the International Monetary Fund yesterday adopted a plan aimed at reshaping itself to handle new challenges such as global trade imbalances and the rise of China.
The endorsement of the strategy by the IMF’s policy-setting committee, which represents its 184 member governments, topped the agenda of economic policymakers gathered in Washington this weekend for the spring meetings of the monetary fund and the World Bank.
Part of the strategy involves making the IMF’s governance fairer. In response to long-standing complaints that fast-growing countries such as China and South Korea are woefully underrepresented in the fund’s decision-making bodies, the committee launched a process to reapportion voting power.
