Third world asks more say in world monetary panel

Developing nations Thursday demanded a greater say in running the International Monetary Fund and urged a speedy reinjection of Arab oil profits into the world economy. Nigerian Finance Minister S. M. Essang, chairman of the 20th meeting of the IMF third world lobby, said it was essential that part of the $110 billion oil profits expected for 1980 be made available for nonoil-producing developing nations. With increased influence in the IMF, third world nations hope to be able to direct investments to development projects in their countries.