Stemgewicht Europese landen in IMF wellicht omlaag ten gunste van China, India, Zuid-Korea, Turkije en Mexico (en)

The EU is facing an overall loss of power in the International Monetary Fund (IMF) as the US plans to increase the voting weight of emerging states such as China in the body.

Europe currently has over a third of the voting weights of the 184-member IMF, a key international organisation which seeks to secure monetary and economic stability around the globe notably by providing credits to states with financial problems.

But the organisation is now facing reforms strongly pushed by US president George W. Bush, boosting the decision-making powers of emerging economies such as China, India, South Korea, Turkey and Mexico.

By backing Beijing's aspirations for a greater say in the IMF, Washington is primarily seeking Chinese cooperation on international economic issues, writes the New York Times.

US state secretary Timothy Adams said that China like many other fast-developing countries is "woefully underrepresented" at the IMF.

But the move is facing resistance in Europe, which traditionally holds the IMF's highest post of managing director - currently former Spanish finance minister Rodrigo Rato.

The EU's traditionally rich states particularly - such as Germany, the Netherlands, Belgium and the Scandinavian countries - are set to lose out if Washington's designs are seen through.

German national bank president Axel Weber last weekend warned against any preliminary concessions in the upcoming IMF power battle, which is set to come at a height at the body's annual meeting on 15-22 September in Singapore.

"We should find an overall package for a transparent and fair representation of all IMF member states. In this respect, EU states should not already put their own positions and claims for disposal at an early stage," said Mr Weber according to Handelsblatt.

But the EU also faces internal divisions on the matter, as the bloc's own fast-growing economies - such as Ireland and Spain - could actually profit from the power reshuffle sought by Washington.

One idea under discussion is to group European states' seats under one EU umbrella, but Mr Weber said it is too early for such a move.

"We believe a common EU external representation at the IMF is premature. For this, Europe should be much more strongly politically integrated," he stated.

But Jean Pisani-Ferry who leads Brussels-based think-tank Bruegel criticised the EU for its failure to speak with one voice, the BBC reports.

"There is a tendency in Europe to stick to the existing arrangements _ It's not a good strategy, it's a losing strategy."