Monday, April 16, 2012

Drive for IMF Funds Caught in Global Power Shift

Drive for IMF Funds Caught in Global Power Shift 
Published: Saturday, 14 Apr 2012 | 7:24 AM ET Text Size
By: Reuters

Tensions among some of the world's leading economies have boiled up over a plan to raise new resources for the International Monetary Fund to contain the euro zone debt crisis, and a quest by emerging economies to win more say in the global lender.

World financial leaders gathering in Washington next week will focus on proposals for countries to contribute more money to the IMF so it is better prepared in case of fallout from any further escalation of Europe's debt problems.

Emerging market countries like China, Brazil and Russia are willing to provide more money for the IMF, but they want something in return: greater voting power.

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