Section Notes

Finances, Organization, and Accountability

The IMF Board at Work

The IMF’s 24-member Executive Board takes care of the daily business of the IMF. Together, the 24 Board members represent all 189 member countries. Large economies, such as the United States and China, have their own seat at the table, but most countries are grouped in constituencies representing four or more countries. The largest constituency includes 23 countries.


of the Board

Aleksei Mozhin

Aleksei Mozhin, Executive Director for Russia, became Dean of the Executive Board in January 2015 as the longestserving Director. He came to the IMF in 1992 as an Alternate Executive Director when the Russian Executive Director’s office was created and was elected as the principal in 1996.

Mr. Mozhin holds a B.A. and Ph.D. in economics from Moscow State University and did postgraduate studies at the State University of New York at Albany. Prior to joining the IMF he was a research fellow at the Russian Academy of Sciences and head of the Russian government’s Department for Interaction with International Financial Institutions.

Of his work at the Fund, Mr. Mozhin says, “I’m a true believer in the Fund’s mission and in the need to enhance international cooperation to improve the quality of global governance.”


formal board meetings

The Board

The Board usually meets several times each week. It carries out its work largely on the basis of papers prepared by IMF management and staff. The Board discusses everything from the annual health checks of member countries’ economies to economic policy issues relevant to the global economy.


board meetings on countries

The Board

The Board normally makes decisions based on consensus, but sometimes formal votes are taken. Informal discussions may be held to discuss complex policy issues still at a preliminary stage.


IMF Organization chart