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Unformatted text preview: Institute a rule of law, open economy, rid corruption, focus on exports, get rid of subsidies, etc. European Director- leader Headquartered in Washington, DC IMF: Weighted Voting Based on the amount of one’s contribution US 17% Has most votes Japan 6% Germany 6% France 5% UK 5% *pretty much run by the G7- the world’s 7 richest countries* World Bank Focus went from reconstruction to development Main provider of multilateral loans and grants to the 3 rd world American Head- leader Headquartered in Washington, DC ** Both IMF and World Bank based on weighted voting**-The countries who make the largest financial contributions get the most votes-Controlled by the G-7 (US, Japan, Italy, Germany, France, UK, Canada)...
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- Fall '07
- Foreign exchange market, United States dollar, Fixed Exchange Rates, key reserve currency