Dutch could lose IMF seat

11th October 2010, Comments 0 comments


The International Monetary Fund is considering a change in the make-up of its governing board, which would see the Netherlands lose the seat it has held since 1944.

Daily reported after the IMF annual meeting in Washington that the new board should reflect the changed relations in the world.

The question will next be addressed at the G20 meeting in Seoul, South Korea, in November. It is by no means certain that the Netherlands will be invited to that meeting. There are five wildcard invitations, but according to the Korean hosts are likely to hand these to Asian countries.

European countries are currently holding 9 out of the 24 IMF board positions. The EU members among the 9 proposed that Europe should give up 2 of its seats, and fill some of the remaining places on a rotational basis. The Netherlands was hoping for a non-rotating European position. In the course of the IMF meeting it became clear that the US opposes any form of rotation.

© Radio Netherlands Worldwide

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