From The New York Times:
The International Monetary Fund‘s executive board, responding to appeals by the United States, has taken a step toward giving more of a voice to China and three other developing countries in setting policy on global economic matters, the fund announced on Friday.
The fund said that the board also endorsed a two-year process that would eventually give more weight to economic growth and performance as criteria for apportioning voting rights on the fund, but details remain to be worked out.
Besides China, the countries that would get a bigger share of voting rights are Mexico, South Korea and Turkey. These and other expanding countries could see their influence increase even more at the end of the two-year process, fund officials said.[Full Text]
Also see CDT previous post U.S. Seeks Bigger China Role in I.M.F.
