Michael D. Higgins
Ceist:24 Mr. M. Higgins asked the Minister for Finance the reforms his Department favours in the Bretton Woods institutions; and if he will make a statement on the matter. [27481/00]
Vol. 527 No. 2
24 Mr. M. Higgins asked the Minister for Finance the reforms his Department favours in the Bretton Woods institutions; and if he will make a statement on the matter. [27481/00]
Ireland has been active in seeking reform of the Bretton Woods institutions, in a variety of areas, over the past number of years.
I would like to draw Deputies' attention to the issue of country representation at the Institutions. A review of the quota allocation is about to commence in the IMF and I expect will be followed by one in the World Bank. I am in favour of a greater say for the emerging and poorer countries. There are a number of ways in which this might be achieved – through quota adjustment, board representation or enhanced involvement in decision making generally. In addition a vital aspect of the whole reform programme, and one which we fully support, is more consultation with the developing countries both at governmental and civil society level.