Global: Emerging economies battle for more voting rights at IMF

Arguments about how much influence developing economies have over the world’s financial affairs are set to dominate the International Monetary Fund summit in Istanbul this week. There was some progress at last week’s G20 meeting in Pittsburgh, but until details are agreed, the balance of power between key economic players remains unresolved. Under existing arrangements, the industrialised countries hold 57 per cent of the IMF votes.