25-03-2015 05:23

IMF 'Plan B' on reforms could slash US power

Washington's block on crucial IMF reforms has pushed the crisis lender into discussions of other options, with one proposal potentially slashing US voting power nearly in half, AFP learned. Talks on "Plan B" have emerged because patience has run out with the US Congress' failure to ratify the 2010 reforms originally strongly supported by the White House. The reforms would both realign the power of members on the IMF executive board, boosting emerging countries like China and
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