membership fee
The International Monetary Fund (IMF) is a multilateral cooperation organization established by the United Nations system to promote international monetary and financial cooperation, and sovereign countries voluntarily participate. According to 1944, the International Monetary Fund Agreement (hereinafter referred to as the "IMF Agreement") adopted by the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, USA in July, was established at the end of 1945. At present, it has 185 member countries (in 2007) and its headquarters is located in Washington, DC. (ii) Member States and organizational structure
1, Member States
According to Article 2 of the Agreement of the International Monetary Fund, the members of the International Monetary Fund must be sovereign countries. In 2007, the 185 members of the International Monetary Fund included developed countries, developing countries and countries in transition from planned economy to market economy.
2. Shares and voting rights
When each member country joins the International Monetary Fund, it must subscribe a certain amount of capital, which is called "quota". Share is the main source of funds for the IMF, which determines the voting rights of member countries, the maximum amount of loans that member countries can obtain from the IMF, and the distribution scale of special drawing rights that a country can obtain.
Under the framework of "Medium-term Strategy", then IMF Managing Director Rato proposed a "two-step" share reform plan: the first step was to reach an understanding on the special capital increase plan at the Singapore annual meeting in September 2006, and to make special capital increase for China, South Korea, Mexico and Turkey, four countries whose shares were seriously underestimated; The second step is to modify the share calculation formula and increase the basic voting rights and other deeper reforms, which are planned to be completed within two years. At the annual meeting in Singapore, the Board of Directors of the International Monetary Fund adopted the capital increase plan for China, South Korea, Mexico and Turkey (2).
According to the regulations of IMF, each member country has 250 basic voting rights, and then one vote is added for every 65,438+10,000 SDR shares according to its share. For a long time, the United States has always had the most voting rights. At the end of March 2007, the voting rights of the United States accounted for 16.83% of the total voting rights, making it the only country in the IMF with a single veto power on major issues. Major policy and operational decisions of the IMF require a majority vote, and some major issues require a required majority vote, such as the adjustment of shares and the allocation of special drawing rights, requiring a majority vote of 85% of the board of directors.
Basic functions of the IMF
At present, the basic functions of the International Monetary Fund include supervising and maintaining member countries and the global economy, providing assistance to member countries, eradicating poverty, supervising exchange arrangements and strengthening the construction of the international financial system.
1, strengthen supervision and promote sustained and stable economic growth in various countries.
(1) national supervision
(2) Regional supervision
(3) Global supervision
2. Assistance to Member States
(1) standby arrangement
(2) Medium-term loans (expanding financing)
(3) Poverty reduction and growth loans.
(4) Supplementary reserve.
(5) Compensatory financing loans.
(6) Emergency Assistance Fund.
3. Poverty reduction and debt reduction
4. Supervision and management of foreign exchange arrangements
5. Strengthen the construction of the international financial system
The constituent bodies of the World Bank Group
International Bank for Reconstruction and Development
IBRD provides loans and development assistance to middle-income countries and poor countries with good credit. Its voting rights are linked to the subscribed shares of member countries, and the subscribed shares are determined according to the relative economic strength of each member country. The main source of funds for IBRD is to issue bonds in the international capital market.
IDA international development association
The International Development Association plays an important role in the poverty alleviation mission of the World Bank. The International Development Association assists the poorest countries in the world by providing them with interest-free loans and other services. The main source of funds for the International Development Association is donations from wealthier member countries, including some developing countries.
IFC International Finance Corporation
IFC promotes the economic growth of developing countries by providing investment funds for the private sector, technical assistance and consulting services for the government and enterprises. Together with private investors, IFC provides loans and equity financing to commercial enterprises in developing countries.
MIGA Multilateral Investment Guarantee Agency
Multilateral investment guarantee agencies promote foreign investment in developing countries by providing non-commercial risk guarantees to foreign investors. MIGA also assists the government in disseminating information about investment opportunities.
ICSID International Investment Dispute Settlement Center
Settlement of Investment Disputes According to the Articles of Association of the Bank for International Settlements, it has the full right to conduct the following business activities:
(1) You can buy, sell, exchange and store gold for yourself and the central bank;
(2) Providing loans to the central banks of member countries and accepting loans from them;
(3) Handling and re-issuing bills, buying and selling promissory notes and other high-quality short-term bonds for the central banks of member countries;
(4) you can sell foreign exchange and securities (except stocks) by yourself or by the exhibits of the central banks of receiving member countries;
5] Accepting the liquidity and deposits selected by the central banks of member countries;
(6) Accepting the sale of government deposits as principal or other funds according to the resolution of the board of directors, and not issuing bank notes or competitive bills for presentation of payment or providing loans to governments of various countries (except for purchasing national bonds);
(7) Have the right to supervise any enterprise;
Due to the low repayment rate of bank debt, it is responsible for the real estate owned by the bank before it is sold at a more suitable price.
The international center provides assistance through mediation or arbitration.