Not the IMF: Bank for International Settlements

• central bank for central banks
• SDR 220.1 billion assets in 2006 (US $333 billion)

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Voting in the IMF

Quota System

• 250 basic votes plus one vote per 100,000 SDR in quota (2.2 million total votes)
• quotas reevaluated every 5 years (General Quota Reviews)

Organizational Power

• Executive Board v. Board of Governors (bi-annual meeting)
  • 14 of 24 EDs from developing and transitional economies, but held only 39.49% of votes (~2006) [Rapkin & Strand, 309]
  •  Should voting power be de-linked from "purchasing" power?
  •  Double-majority voting (vote per member & weighed vote)

Source: B. Blomberg and J. Broz, "The Political Economy of IMF Voting Power," ms. 2006

Source: D. Rapkin and J. Strand, "Reforming the IMF's Weighted Voting System," The World Economy 29:3 2006.