Posted on

Operational System of International Monetary Fund (IMF)

The IMF has about138 members and of this, the developing nations,who constitute100 countries have only 28% of the total voting right, whereas about 10 developed nation has more than 62% voting right. For any nation to qualify for loan, its resources are related to that member country’s monetary reserves, foreign trade and payment patterns. In short, a country’s quota determines its drawing right.

READ MORE