Dutch seat on the IMF board in danger

The Netherlands may lose its seat on the International Monetary Fund board, the Volkskrant reports on Monday.


The paper says caretaker finance minister Jan Kees de Jager has been unable to persuade other members to agree to changes in the board make up, meaning the Netherlands’ seat is in doubt.
The IMF wants to increase the influence of developing economies on the board. Europe has agreed to give up two of its nine seats while the US wants to increase this to three.
Germany, France and Britain have their own seats while the Netherlands, Belgium, Spain, Italy and Denmark represent groups of countries. Switzerland also has a chair.
The Netherlands had hoped the smaller European countries would agree to rotate their seat with developing countries, but only Turkey, which is in Belgium’s group has agreed, the paper says.
Unlike the other European countries, the Netherlands does not represent an emerging market to rotate with, and this now makes it a likely candidate to lose its seat, the paper says
De Jager expects the discussions to continue at the next G20 summit in November. The Netherlands is not a member of G20 and it is also still unclear if an invitation to take part as an observer will be forthcoming.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation