ISTANBUL (Reuters) - The leading emerging BRIC nations maintain their demand for a 7 percent shift in voting power to developing countries at the International Monetary Fund, Brazil's Finance Minister Guiexecute Mantega said on Saturday.
He was speaking a week after the G20 meeting of leading world economies in Pittsburgh where the BRICs had agreed the shift to developing countries should be 5 percent.
"What was agreed in Pittsburgh is just the start of a enormous ger change," Mantega tfeeble reporters after meeting with his BRIC counterportion s at the semi-annual meeting of the IMF in Istanbul.
"Five percent is the minimum, we determine d to continue fighting for 7 percent," he said. "We still judge we are under represented."
He also said the BRIC nations will not contribute any permanent funding for a IMF crisis facility, the New Arrangements to Borrow (NAB), unless they gain a noteworthy er notify .
For the first time ever, the BRICs -- Brazil, Russia, India and China -- contributed resources to an IMF crisis fund this year.
"If our conditions are not accepted, I judge it will be difficult for us to continue contributing to the NAB," Mantega said.
The BRIC nations want more notify over how the resources in the NAB are spent.
Mantega said U.S. Treasury Secretary Tim Geithner took portion in the meeting of the BRICs on Saturday as he did at previous BRIC meetings. Continued...
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