International Monetary Fund
The International Monetary Fund (IMF) is an international finance and development agency.
Composition
Membership in the fund only requires a few structural financial regulations and consistent payment towards a minimum fund quota.
The fund is overseen by a board of governors; each member country sends a governor and an alternate governor.
A board of executives represents the member countries; larger economies are represented by an individual executive director, while smaller economies are grouped geographically to share one.
The managing director and first deputy managing director are the operational leaders. By tradition, the former is always European while the latter is always American.
The chief economist is the research leader.
Voting share is allocated as equal basic votes for each member, plus an extra vote for each special drawing right that member donates. Changes to the charter requires 85% approval. Due to the amount of funding the United States grants, it holds a plurality of the voting share (about 17%) and an effective veto. As a result, the bank is headquartered in D.C..