• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

P.S. Suryanarayana

Singapore , Sept. 18

The International Monetary Fund (IMF), which is meeting in Singapore for its annual session, has voted in favour of reforming its power structure.

The pro-reform lobby won the ballot on Monday by 90.6 per cent of the "total voting power" as against 9.4 per cent that India and other dissenters managed to get.

Under the first-stage of reform as now approved, China's "voting power" under the IMF decision-making process will go up to 3.72 per cent from the existing 2.98 per cent. Its quota will rise from 6,369.2 million special drawing rights (SDRs) to 8,090.1 million SDRs.

India's "voting power" will fall to 1.91 per cent from 1.95, while its quota will remain unchanged. For the US, its quota, the highest in the IMF echelons, will remain stable, but its "voting power" will slide to 17.10 per cent, still the largest single power-quotient, from 17.40 per cent.

More Stories on : Financial Institutions | Events | Restructuring

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
UK prospects waning for Indian nurses

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line