IMF chief: Speed up change in vote system

TORONTO/BEIJING - Developed economies should do more to ensure that emerging economies have a greater say in the International Monetary Fund (IMF), with China's increased voting power reflecting the real role of the nation's economy, said Dominique Strauss-Kahn, the IMF's managing director.

Speaking at a press briefing at the end of the G20 summit, Strauss-Kahn said that the IMF would work hard to ensure that the shift in voting power, agreed at the Pittsburgh G20 summit last September, is implemented, but stressed that the organization's member nations, rather than the IMF, would have the final say on the issue.

During the Pittsburg summit, the G20 nations reached a consensus that at least 5 percent of voting power should be shifted from over-represented economies including the United States and Europe to dynamic emerging markets and developing nations represented by China and India before January 2011.