Dutch IMF rep focuses on keeping shared seat on board

The Dutch representative on the board of the International Monetary Fund is focusing his efforts on keeping a shared seat when the IMF revamps its line-up, the Financieele Dagblad reports on Monday.


G20 ministers have agreed that Europe should give up two of its nine seats on the board to developing countries, and the Dutch seat is one of those under threat.
Age Bakker told tv current affairs programme Buitenhof that the Netherlands could end up sharing a seat with another country. ‘What matters is that your country is represented,’ he said.
For example, Australia and South Korea currently share a seat on the board, he pointed out.
Belgium has already suggested joining forces with the Netherlands.
Prime minister Mark Rutte has not been invited to attended the next G20 summit, where the reshuffle is likely to be discussed, leading to fears that the Dutch position will weaken further.
EU emergency fund
Bakker also called for the IMF to be given an important role in policing the permanent fund which the EU is planning to set up to bail out eurozone countries which get into difficulty from 2013.
‘People are still not prepared to accept automatic sanctions,’ Bakker said. ‘Let us bring in a bad cop. The IMF is a bad cop.’

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