IMF says voting-shares changes "crucial"

WASHINGTON (Reuters) - The International Monetary Fund's steering committee said on Saturday that it was "crucial" to move quickly to give emerging nations more say in the institution's lending decisions.

In a communique after a one-day meeting, the IMF panel urged that work on reapportioning quotas, or voting shares, at the Fund get under way well ahead of a scheduled annual meeting in October so the issue can be brought to a conclusion.

"Early action by national authorities ... is crucial," the IMF communique said. "The upcoming review of quotas is expected to result in increases in the quota shares of dynamic economies, particularly in the share of emerging market and developing countries as a whole."

(Reporting by Glenn Somerville)