The international monetary fund billion in loans from the leaves to decide a Finnish bank man – Mika chief's job is both rich in that the argumentative

the Autumn kirpakka wind to clean up the leaves in the trees and on the steps of the Bank of Finland in the foreground. Snellman statue hanging from a blue ribbon tied to the large Abloy key.

the key to the purpose of fascination the moment the Bank of Finland, adviser to the board of the Mika Chief with, when he settles to shoot the statue in the foreground viimasta despite.

Chief to start next year at the beginning of the work of the International monetary fund, IMF executive board, where he represents the Nordic and the Baltic countries form a constituency. The board have meetings several times a week, so the papers enough to be browsed.

I'm excited that I get to represent our constituency of our lives. Such a task does not come very often offered, so to take this ”hands-on” in full vigor, Mika Chief told reporters.

the Last time the finn was the joint constituency in the lead in 2006 – 2007, so the time has passed more than ten years. Mika chief of the season has agreed a three-year length.

the board has 24 members. They represent the 189 member states, which is divided into electoral districts. Speech in meetings leads to the managing director of the IMF.

Rich countries control

the Three economic powers, the united states, Japan and China is an executive decision power, i.e. the number of votes of nearly 30 percent. As the biggest donor the united states, in certain cases the opportunity to vote for others over myself.

the voting power of the calculation method due to the organization has been criticized as undemocratic. For example, the Indian wears a constituency, for which the number of votes is lower than in the Nordic and Baltic constituency.

a change in the System, namely the so-called quota inspection, was again on display last October at the annual meeting, but the change decision is not born.

– Especially the larger emerging economies were hoping to meeting that quota audit had now been realized. Maybe progress is slower than many fast grown to be the country hope. The work however continued and the expectation is that the emerging economies present the highest votes will be agreed by the end of 2023, Chief's assessment.

Chief stressed that board decisions are made largely by a suitable, i.e. the consensus principle. Votes end up rarely and difficult issues discussed in the first informal meetings. A common view when grinding a small country can gain size bigger.

– according to my Understanding of our constituency influence is the sound of my power is greater. We are considered as active, constructive, consistent and common työkykyi you. We also described the voice of reason for the meetings, Mika Chief told reporters.

the power of Decision, distribution plays the role, for the board to decide for the member states the loan amount and terms. The IMF has the resources to grant loans for a thousand billion dollars.

the IMF in short:

Founded in 1945Lainoittaa economic difficulties forced the countries to the member countries represent a constituency with voting power based on the countries ' economic merkittävyy do finland belongs to the Nordic and Baltic constituency of the loan conditions has been made easier

the IMF's loan conditions have been criticised, because they have been in many cases too harsh. Funding in exchange for a loan, a country must agree to the fiscal austerity programmes and structural reforms.

critics complained that the too strict conditions, rather exacerbate than ease the financial crisis in the country and its citizens of the situation.

– the IMF has learned along the way and some changed line loan terms and conditions. More and more are taken into account employment, social sector and the inequality of perspectives. Also climate issues has recently been taken according to the Chief told reporters.

Pääjohtajakin changed the

the IMF as the new director general was appointed in September Bulgarian Kristalina Georgieva . He is the first executive director, who is selected for the task so-called small rise in the economy.

Georgieva has been as a commissioner in the European union and served as acting executive director for the world bank, whose operations are similar to those of the IMF. Could his choice be a sign of a bigger change in the next steps of these two in the organization?

– Georgieva is it a person who is able to see how much these two institutions have congruent goals and possible cooperation items. He is, however, only started in his post, so this is more guesswork, Chief says

Chief recalls that these two institutions are also different task. The IMF secures the monetary system stability and the world bank aims to reduce poverty.

Mika Chief to start work in Washington in mid-January. He gets to run the team, which has representation from all constituency countries.

after the Interview Mika Chief signaled the statue's neck was the key to the secret survived. It had been the blue ribbon foundation, which wanted to remind the key in the homeless situation.

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