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Agreement International Monetary Fund

Quotas are reviewed every five years and are based on the prosperity and economic performance of each country – the richer the country, the higher its rate. Quotas are a pool of loanable funds and determine how much money each member can borrow and how much to vote. For example, the U.S. contribution of about $83 billion is the largest of any IMF member and accounts for about 17 percent of total quotas. The United States thus obtained about 17% of the total votes, both in the Board of Governors and in the Executive Council. The group of eight industrialized countries (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States) controls nearly 50% of the Fund`s total votes. However, stricter rules have been imposed on governments that have applied for IMF financing. .