WEIGHTED VOTING

Abstract

This chapter describes the different aspects of weighted voting. Weighted voting exists in the International Monetary Fund, the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation, the International Development Association, and the regional development banks. All these organizations use a double system for the weighting of votes. Part of the votes is attributed on the basis of sovereign equality, and the rest on the basis of financial interest. In the universal organizations, the sovereign equality element is relatively small. In the IBRD, 11 percent of the votes are distributed on the basis of sovereign equality, while 89 percent are distribured on the basis of shares held. A weighted voting system based on a general interest in the organization exists in the Council of the European Communities. Germany, France, Italy, and the United Kingdom have 10 votes each; Belgium, Greece and the Netherlands five; Denmark and Ireland three; and Luxembourg two. The weighted voting formula is used very infrequently, as the Council takes important decisions by consensus.