TOKYO (Reuters) - The politics of mathematics has deadlocked IMF discussions on shifting voting power to emerging economies such as China, as European countries dig in their heels over changes to a little-known formula with big implications.
Governance reforms in the International Monetary Fund have been years in the making. A historic deal sealed in 2010 - and supposed to come into force this week in Tokyo where the IMF and World Bank are holding annual meetings - would make China the third-largest voting member and revamp the Fund's board to reduce Western Europe's dominance.