Cynthia’s Interests

June 17, 2007

Who owns the World Bank and the IMF?

Filed under: National Politics - Cynthia @ 9:32 pm

The answer is the U.S.

Of the 24 directors on the board of the World Bank, 1/3 of them (8) represent individual countries: the US, Japan, Germany, France, the UK, Saudi Arabia, China, and Russia. The rest of the 184 member-countries share the other 16 directors. The US controls nearly 17% of the votes in the IMF and 16% of the votes in the World Bank; Japan is second with ~6% in the IMF and 8% in the World Bank, followed closely by Germany, the UK, and France each with ~5%.

The US holds veto power over major decisions and the president of the US appoints the World Bank president.

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