IMF reform could prompt EU power loss

The EU could lose out in terms of power in the International Monetary Fund (IMF) as the body is expected today to endorse a major overhaul of voting rights.

At an IMF meeting in Singapore on Sunday, the organisation's steering committee – the International Monetary and Financial Committee – backed reforms which boost the decision-making powers of emerging economies such as China, South Korea, Turkey and Mexico.

The IMF is a key international organisation which seeks to secure mon...