Decision Making+Term Paper

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5 4.1 Importance of Voting strength within the IMF and World Bank ................

6 4.2 What can be inferred from the analysis of the decision making systems of the above mentioned two Bretton Woods Institutions (BWIs) ...........................

They also cannot be changed without the assent of the respective Member State36.

The voting rights of members are calculated according to a complex system (Article XII,section 5 of the IMF Agreement).

From this analysis, it is possible to trace four main principles that underlie WTO processes: principle, voting, character, and the importance of informal processes19.

The WTO would thus decide according to a approach: consensus if possible, otherwise vote20.Also the effort to achieve consensus protects the interests of those who risk becoming permanent minorities at each institution22. Kent Jones room politics and the crisis of 15 Amrita, Narlikar Supra note, P Ibid 17 Ibid 18 Ibid 19 Ibid p 3. 3 3 Decision Making Processes in IMF In IMF, each member is assigned a quota34.20 Fikremarkos Merso, International Economic Law Lecture notes Slide 19, Addis Ababa University School of Law. The quotas result from a number of weighted variables which reflect the relative position in the global economy: GDP with a weight of 50 percent, openness to trade with a weight of 30 percent, variability of current receipts (eg.earnings from the export of goods and services) with a weight of 15 percent, gold and international currency reserves with a weight of 5 percent35.It involves the adoption of a decision with no objection (nobody votes formally against), vote not held. E.) WORKING PAPERS, Oxford University SOUTH CENTRE.contrast, in everyone has to vote and agree, and if even one person says no then it happen. 7 8 9 Ibid Ibid Foot Note 1 of the WTO Agreement 10 11 M e m o r y D u b e, Supra note 2, P17. 12 Victoria University of Wellington (2010), International Trade Law Lecture available at (accessed on 5 December, 2018).However, consensus at the WTO does not imply unanimity among the parties.It does not also matter that some members might not be present10.The total votes of each member shall be equal to the sum of its basic votes (equal for each member) and its variable, quota based votes.37 Important decisions (eg.the adjustments of quota under Article section 2(c)) require a majority of 85 percent of the total voting power.Unanimity requires a positive vote Also Geoff Berridge has defined consensus decision making as attempt to achieve an agreement of all the participants in a multilateral conference without 6 Amrita Narlikar (2001) , and Developing AGENDA, DEVELOPMENT AND EQUITY (T. 2 the need for a vote and its inevitable other words, it is an agreement of all taken unanimously means other than voting13.The informal meetings especially the green room meetings in which a small subset of member countries, involved in a particular aspect of multilateral trade negotiations (MTN), takes part14 are also additional features of the WTO decision making processes.


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