IMF Members' Quotas and Voting Power, and IMF Board of Governors

http://www.imf.org/external/np/sec/memdir/members.aspx#I


IMF Members' Quotas and Voting Power, and IMF Board of Governors


Last Updated: December 28, 2011


The Board of Governors, the highest decision-making body of the IMF, consists of one governor and one alternate governor for each member country. The governor is appointed by the member country and is usually the minister of finance or the governor of the central bank. All powers of the IMF are vested in the Board of Governors. The Board of Governors may delegate to the Executive Board all except certain reserved powers. The Board of Governors normally meets once a year.

The table below shows quota and voting shares for IMF members. Following the entry into effect of the 2008 Amendment on Voice and Participation on March 3, 2011, quota and voting shares will change as eligible members pay their quota increases. During this process, this table will be updated regularly. Click here: http://www.imf.org/external/np/sec/memdir/members.aspx#I
for a table illustrating percentage quota and voting shares before and after implementation of the 2008 Amendment on Voice and Participation, and of subsequent reforms of quotas and governance which were agreed in 2010 but are not yet in effect.

1. At the present time all 187 members are participants in the Special Drawing Rights Department.

2. Voting power varies on certain matters pertaining to the General Department with use of the Fund's resources in that Department.

3. These countries have accepted the obligations of Article VIII, Sections 2, 3, and 4 of the Articles of Agreement.

4. This figure may differ from the sum of the percentages shown for individual countries because of rounding.

And Iraq is on the list

how can Iraq be in Article 8 when it's still under 7?.....where Wind when ya need her?....lol

This is pretty much all Greek to me Pan..Anyone else with some insights please chime in to let us know if this means anything????

Chapter 7 is the UN program for legal sanctions enacted against countries that represent an international threat. Totally different from the IMF.  The IMF has its own set of rules that countries must agree to in order to be a member.  Article 8 and 14 are the currency agreements that outline the rules of the road for a country's currency.  The  permanent agreement is Article 8.  The temporary agreement is Article 14.  Iraq is currently under Article 14.  The last few IMF financial reviews of Iraq have addressed Iraq's progress toward signing the Article 8 agreement.   It has always been my opinion that Article 8 is much more important to the RV than the termination of Chapter 7 by the Security Council.

Now for an explanation of Gente's post.  The referenced IMF report lists every country that is eligible to participate in the IMF's SDR program which includes Iraq.   If you scroll to the bottom of the list there are foot notes.  Foot note #3 identifies the countries that have agreed to Article 8.  If a country has a 3 by their name then that country is under Article 8.  Iraq does not have a 3 as they are still under Article 14.  

So until they agree to Article 8, they go nowhere then? thx Wind

Riddle me this--Maliki comes to the US--meets with the head of the IMF but does not attend the Security Council meetings. Iraq has been complaining for years about Chapter 7. So Maliki is here the week that the SC was having a meeting on Iraq and he does not attend. I found that extremely odd. Plus Shabibi is the interface to the IMF. He signs off on all reports not Maliki. So why was Maliki meeting with Lagarde. Hmmmmmm

thnx wind.....your right almost like Shabs and Maliki are doing each others job....very interesting......

That is strange...