Monday, April 22nd 2019


Who owns the imf?

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18th Jul 2013 by Nick Morano

No one "owns" the IMF but the U.S. control it. I will explain why.
IMF assets are broken down by country, and those assets are translated into votes. For every $10,000 a country owns in the IMF, 1 vote is earned. The U.S. share of the fund is $45 billion, so it has 450,000 votes, or 17.5% of the vote. Since the U.S. controls roughly 17% of the total vote, no measure passes unless the U.S. approves. Why? Because for an IMF measure to pass, an 85% vote is required, which gives the U.S. what is known as "veto power".
The IMF was formed in New Hampshire about 70 years ago, and most if not all its employees work in Washington DC. The U.S. gov't chooses the IMF president. Some joke the "IMF" is another word for "USA".
The UK gets to choose the president of the World Bank, however, the U.S. possesses veto power in the World Bank as well. Nothing gets through without American approval. This "supreme authority" infuriates member nations, who don't take into account the fact that the United States is the one who generally funded the "fund" in the first place. Members draw off the fund, using it as a national piggy bank. According to the IMF website, a majority of the countries, even China, have drawn off, and currently owe the IMF money. The United States has never taken out an IMF loan. The IMF and World Bank serve a purpose for countries in distress. The IMF is generally given credit for bailing out Asia during the currency crisis of 1997.
The IMF's best customer is Romania, taking out loans multiple times since the 1970's and always paying the loans back. Greece is currently the IMF's biggest liability, with a $9 billion balance and a junk rating on their gov't debt.
Japan and Greece both control 6% of the vote, and China is fast on its way to becoming the 3rd largest shareholder.
Please don't quote me on all of this, I am pretty certain everything is fairly accurate but this was off the top of my head. Do your own research on the IMF website and don't ever believe Wiki unless the citation comes straight from the source, not an obscure book or blog.

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16th Apr 2013 by no it's not.

you are wrong that "no one" owns the IMF. They own 1/3 of the world"s gold and you say "NOONE" owns it? who are you fooling!

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22nd Dec 2010 by dan

if 186 countries of the world owned the IMF, you are saying that these countries are in debt to themselves? this is impossible. everyone one of those countries owes money to the IMF + interest. whoever owns the IMF is getting the interest payment, my guess is the roathchilds as they own most the worlds oil and gold...

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17th Nov 2009 by Gary

Nobody owns the IMF, as it is comprised of 186 countries at the time of this answer. The countries work together in their stated purpose of "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."

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13th Nov 2009 In Economics 4 Answers | 30053 Views
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