POLSCI 1AB3 Lecture Notes - Lecture 14: International Development Association, United Nations General Assembly, General Agreement On Tariffs And Trade
11 Apr 2018
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Document Summary
Provides loans to states experiencing balance of payments problems. Having said this, the ability of the organization to exercise that autonomy is largely constrained by its most powerful member states. Decisions in the imf are not made on the basis of one state one vote (as is the case in the un general assembly) They are made on a weighted basis. Weighted a(cid:272)(cid:272)ordi(cid:374)g to a state"s fi(cid:374)a(cid:374)(cid:272)ial (cid:272)o(cid:374)tri(cid:271)utio(cid:374) to the organization. The net effect is that certain economically powerful states have a far greater percentage of the total votes than others. The united states, since it has contributed the most to the fund, has close to. 17% of the total voting power in the organization. Moreover, since a certain category of imf decisions requires the approval of 85% of the total votes, the us has the power to veto actions by the fund in certain circumstances.
