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Finance ministers to back plans

Posted on: 14 April 2008

Related Category: Economics

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The support for IMF streamlining is going to be backed by Finance ministers to revamp the International Monetary Fund in a move that would streamline the 64-year-old institution while giving it more powers to ensure global stability.

The IMF will cut 15 per cent of its staff, give more say to developing countries in decision making and focus on monitoring the global economy. However, the US called for its board to be slimmed down as well.

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