G30 calls for smaller IMF board, surveillance revamp

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The Group of Thirty, an influential group of policymakers and academics, has called for the size of the International Monetary Fund's board to be reduced from 24 seats to 20 at the expense of four European countries.

In a report out Monday, it also recommended that Financial Sector Assessment Programs become compulsory. Stanley Fischer, the governor of the Bank of Israel and a member of the group, said: "The crisis exposed weaknesses in the effectiveness of the Fun'd system of bilateral and mult

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