<h1>Union Cabinet Approves IMF Articles Amendments to Reform Executive Board, Boost Representation for Emerging Markets and Developing Countries.</h1> The Union Cabinet approved amendments to the International Monetary Fund's Articles of Agreement, focusing on reforming the Executive Board. These changes are part of broader reforms concerning quotas and governance, aiming to enhance the IMF's legitimacy and effectiveness. The amendments propose transitioning to a fully elected Executive Board, eliminating appointed Executive Directors. This reform seeks to improve representation for Emerging Market and Developing Countries (EMDCs), reflecting global economic shifts. As part of these efforts, there is a consensus to reduce the number of Executive Directors from advanced European countries by two, favoring increased representation for EMDCs.