IMF board to weigh controversial voting reform plan

"The package includes a series of 'other elements' clearly aimed at securing the support of the most influential emerging countries, such as China, India and Brazil, in boosting the voting rights accrued under the new quota formula.

The reform measures, however, remain largely inadequate, experts said.
'The proposed reforms fall far short in addressing the challenges facing the IMF in its evolution toward a truly global institution with more balanced and inclusive representation and voting power,' eight influential experts based in Washington said in a joint letter Wednesday to the IMF executive board.

They asked the board to reject the 'inadequate' package at its meeting Friday."

[Read More:AFP]