International Monetary Fund

HC Deb 02 July 1981 vol 7 cc481-2W

33. Mr. Hooley

asked the Chancellor of the Exchequer how the voting strength within the International Monetary Fund breaks down between the industrialised and Third world countries; and whether there are any plans to alter them.

Sir Geoffrey Howe

The breakdown of voting power within the IMF is as follows:

	Per cent.
Industrial Countries (20)	59.1
Oil Exporting Countries (12)	10.8
Non-Oil Developing Counties (109):
Africa	6.6
Asia	10.4
Europe	2.9
Middle East	1.8
Western Hemisphere	8.4
	100.00

Country classification from International Financial Statistics.

Number of countries in each category in brackets.

Members' quotas in the fund are the main factor determining voting strength. The executive board has begun preparatory work on the eighth quota review.