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WASHINGTON - THE World Bank governing council called Sunday for voting reforms similar to those agreed at its twin institution, the International Monetary Fund, to boost developing country representation.
The Development Committee said it would encourage the bank to 'advance work on all aspects of' voting and representation after getting a report on the IMF's changes.
The IMF's executive board last month approved a reform that boosted the voting power of developing countries the equivalent of 1.6 percentage points by redistribution from the richer member states.
The reform package was pushed through by IMF managing director Dominique Strauss-Kahn, who took office in November pledging to restore legitimacy to an institution that had been heavily criticized as losing relevance.
The World Bank Development Committee said it wanted to receive 'concrete options from the Bank's board by our next meeting (in October) with a view to reaching consensus on a comprehensive package by the 2009 spring meeting.' -- AFP
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