THE HAGUE, Oct. 11 (Xinhua)-- The Netherlands may lose its seat in the International Monetary Fund (IMF) it has held since 1944, Dutch media reported Monday.

During its annual meeting in Washington, the IMF is considering a reform of the governing board. "The new board should reflect the changed structure of the world," the local newspaper NRC reported.

Now, nine of the total 24 IMF board seats are held by European countries. There is a new proposal that Europe should give up two seats and fill the other seven seats rotationally. However, the United States opposes any form of rotation.

The reform of the IMF board will be discussed at the G20 in Seoul in November. The Netherlands hasn't been invited to this meeting as yet.