tag:blogger.com,1999:blog-88716982059958138192012-02-15T23:34:28.021-08:00Everythings Herehttp://www.blogger.com/profile/13438730078822337697noreply@blogger.comBlogger21100tag:blogger.com,1999:blog-8871698205995813819.post-41308690721537627312008-01-26T11:44:00.000-08:002008-01-26T11:46:35.250-08:00Of <a href="http://www.fxstreet.com/news"><span style="font-weight: bold;">DOW JONES</span></a> NEWSWIRES<br /><br />DAVOS, Switzerland -(Dow Jones)- European Union countries are willing to accept a reduced share of the International Monetary Fund's voting rights, giving more power to emerging market <span style="font-weight: bold;">economies</span>, said Managing Director Dominique Strauss-Kahn.<br /><br />"The E.U. countries know that their share of the voting power will be reduced," Strauss-Kahn told Dow Jones Newswires on the sidelines of the World Economic Forum in Davos, Switzerland.<br /><br />Strauss-Kahn, who assumed his post in November, noted that a new method for calculating countries' voting rights still needs to be resolved. Current IMF voting powers are apportioned based on a complex formula incorporating a country's gross domestic product, foreign currency reserves, <span style="font-weight: bold;">the openness</span> of its economy and the variability of its current account receipts.<br /><br />IMF reform has been a key concern among emerging market countries, which claim they should have more influence over an institution that provides them crucial financial and technical assistance.<br /><br />IMF voting power also has been a contentious issue in Europe, with some policymakers in France, Italy and other states worried about losing their influence. Euro-zone countries also are debating whether they should have a single, unified voice at the IMF.<br /><br />The IMF's member countries agreed to change the fund's voting system at a meeting in Singapore in 2006. Voting rights for China, South Korea, Mexico and Turkey were raised at that time and a two-year deadline was set to reform the entire quota system, giving more power to other emerging economies.<br /><br />Strauss-Kahn said most E.U. states will end up with reduced voting powers. Ireland and Spain, which have experienced rapid economic growth in recent years, are exceptions in that group.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/8871698205995813819-4130869072153762731?l=sapu-jagad2.blogspot.com' alt='' /></div>Everythings Herehttp://www.blogger.com/profile/13438730078822337697noreply@blogger.com0tag:blogger.com,1999:blog-8871698205995813819.post-57469950497819618032007-09-14T16:23:00.000-07:002007-09-14T16:59:39.599-07:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_PSsdO5MUP5c/RuseUCSjX9I/AAAAAAAAACs/5h5lKo7q4dI/s1600-h/gu1.gif"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 588px; height: 300px;" src="http://1.bp.blogspot.com/_PSsdO5MUP5c/RuseUCSjX9I/AAAAAAAAACs/5h5lKo7q4dI/s400/gu1.gif" alt="" id="BLOGGER_PHOTO_ID_5110211531742863314" border="0" /></a><br /><span style="text-decoration: underline;"></span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/8871698205995813819-5746995049781961803?l=sapu-jagad2.blogspot.com' alt='' /></div>Everythings Herehttp://www.blogger.com/profile/13438730078822337697noreply@blogger.com0