Reply #3: The US is the only country that has the power to veto any vote I think. [View All]

[Altoid_Cyclist]

Excerpt of FPIF.org report on the IMF & World Bank.

Voting power at the World Bank and the IMF is apportioned according to the size of each country’s monetary contribution. The U.S. has by far the largest share (18% of all votes) and can veto policy decisions, since they require an 85% vote. The IFIs may not be totally controlled by the U.S., but it’s close: the New York Times recently described the IMF as a "proxy" of the U.S. government. Any analysis of IFI policies is thus also a critique of U.S. policies.


Rest of article: http://www.fpif.org/reports/multilateral_debt

I'm not sure if they could have blocked this or not, but a no vote would have at least been a positive step.