Changes planned in IMF setup
There has been some discussion going on between US and Europe over IMF seat. The IMF may lose its legitimacy as there are concerns of Washington if it doesn’t undergo change. The IMF has to change according to the changing times and become a representative of nations. The IMF election board has been asked by the US treasury department for a election of a IMF executive.
The election will help in a broader governance changes in the fund say senior executive. The decision of the IMF executive is under the hands of Europe at present. The issue about the IMF will be under discussion among the representatives of 27EU finance ministers. The discussion will pay more interest over giving room for the emerging economics. but how much is the question?
The next meet will be during September 6-7 where the EU finance minister will have discuss impasse. The most influential share holder of IMF is US has surprised many diplomats over the move. The concerns of Washington has always raised at tjhe meetings of IMF says the EU official.
