Hello h_rattle,

Thanks for your info. Interesting to note the United States has exclusive veto power, one would think all the member countries should have veto power.

http://en.wikipedia.org/wiki/IMF#Org...

Any country may apply for membership to the IMF. The application will be considered first by the IMF's Executive Board. After its consideration, the Executive Board will submit a report to the Board of Governors of the IMF with recommendations in the form of a "Membership Resolution." These recommendations cover the amount of quota in the IMF, the form of payment of the subscription, and other customary terms and conditions of membership. After the Board of Governors has adopted the "Membership Resolution," the applicant state needs to take the legal steps required under its own law to enable it to sign the IMF's Articles of Agreement and to fulfil the obligations of IMF membership. Similarly, any member country can withdraw from the Fund, although that is rare. For example, in April 2007, the president of Ecuador, Rafael Correa announced the expulsion of the World Bank representative in the country. A few days later, at the end of April, Venezuelan president Hugo Chavez announced that the country would withdraw from the IMF and the World Bank. Chavez dubbed both organisations as “the tools of the empire” that “serve the interests of the North”. [3] As of April 2008, both countries remain as members of both organisations. Venezuela was forced to back down because a withdrawal would have triggered default clauses in the country's sovereign bonds.