IMF Decision Mechanism Problem Research

Established under the Bretton Woods System, the three major international economic organizations of the World Bank, WTO, IMF, witnessed the development of the contemporary world economy,since the estabilishment. It should be said that the IMF make its due contribution to keep the international monetary and financial stability、 assisting developing countries actively, as well as promoting the development of world economy, under the Bretton Woods system. However, as the change of world economy structure, the2007world financial crisis, the European debt crisis in2010and the U.S. debt crisis in2011, has fully exposed the inherent flaws and systemic risks of the IMF operating mechanism under the Jamaica system. Whether the IMF contains the global justice imbalance since the establishment, or maps out the effectiveness before the financial crisis, reforming the IMF, has become the voice of the times.This article based on reform the irrational system of IMF, choice on the voting system and the share of reforms as the starting point, First, from the IMF’s purpose, functions, legal status, as well as nature and two aspects of the IMF’s decision-making mechanism briefly introduced the basic situation of the IMF decision-making system; Second, the detailed description of the irrational factors of the IMF’s current decision-making system; again, on the reform of IMF decision-making system to put forward own suggestions; Finally, put forward a number of recommendations on the reform of IMF decision-making system, combining the relations between China and the IMF as a clue, with a view to benefit of setting up a fair and rational international monetary system.