Examples of using Basic votes in English and their translations into Arabic
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The share of basic votes will also be increased.
A broad agreement on therequired amendments to the Articles of Agreement to increase basic votes has already been reached.
A doubling of basic votes would not significantly change the distribution of power.
Many suggested reintroducing a much larger fixed proportion of basic votes and establishing a double-weighted voting system.
The tripling of basic votes will raise this share in total voting power from about 2 to 5.5 per cent.
However, in order to address the special circumstances of the low-income countries,a substantial increase in basic votes was necessary.
Each member country has 250 basic votes plus 1 additional vote for every 100,000 special drawing rights(SDRs) of its quota.
Nevertheless, the move only partly offsets the prior decline of basic votes as a share of total voting power.
For each cocoa year, the votes of exporting Members shall be distributed as follows:each exporting Member shall have five basic votes.
The current reform efforts, by doubling basic votes, would not significantly change the distribution of power in the Bretton Woods institutions.
Moreover, there is no clarity on how to protect the voting power of poorest countries--by a further increase in basic votes or through ad hoc quota allocations.
Basic votes initially constituted about 11.4 per cent of the totalvoting power in the Fund when they were only 44 members.
Some participants questioned whether the approved road map and the decision on basic votes would really lead to meaningful changes that addressed underrepresentation.
At the origin of IMF, basic votes represented about 11 per cent of total voting power and currently they represented close to only 2 per cent.
It hoped the second-stage reform would be implemented soon,and would focus on increasing the basic votes significantly and increasing the representation of the developing and low-income countries.
Raising the number of basic votes per country would raise the relative voting strength of the 157 Fund members(out of 183) that had below-average quotas.
One way to raise the participation of small and poor countries was to increase another component of voting power,the" basic votes", which was based on the principle of the equality of States.
Doubling of basic votes, as called for by the IMF Board of Governors in 2006, would not affect the distribution of power or change decision-making procedures.
The comprehensive package should include, inter-alia:(i) a new quota formula that reflects more accurately the relative economic size of developing countries in the world economy; and,(ii)a sustainable increase in basic votes.
A substantial increase in basic votes was necessary and the new quota formula should be weighted in favour of the least developed countries, whose voices must be heard in the Bretton Woods institutions.
The Secretariat has therefore attempted, in the attached tables, to simulate the implications of votes being computed under a single category membership, using an assortment of criteria for determining the Coefficient of Jute Importance(COJI)and alternative formulae for the determination of basic votes under two budgetary scenarios.
The augmentation of basic votes recommended by the resolution is aimed only at avoiding further erosion of the voting power of low-income countries as a result of upcoming increases in the Fund ' s total quota.
Within the framework of the Second Meeting of the Working Group, held from 9 to 11 October 2000, the IJO Secretariat circulated Conference Room Papers illustrating, inter alia, the computation of votes of individual members of a hypothetical successor Organisation under asingle membership scenario with various combinations of basic votes and trade-weighted votes. .
According to the paper,the first phase would include changes in basic votes, greater representation of developing and transition country nationals in management positions, improvements in Board effectiveness and composition, selected IDA issues and special majorities.
We stress the need for a comprehensive package to review the quota formula, including, inter alia, the need for(a) a new quota formula that reflects more accurately the relative economic size of developing countries in the world economy, taking into account purchasing power parity and the greater vulnerability of developing countries to commodity price fluctuations, volatile capital flows and other exogenous shocks, and(b)a substantial increase in basic votes.
Each exporting member shall have 30 basic votes; the remaining votes shall be distributed in proportion to the average volume of their net exports of jute and jute products over the most recent three-year period for which relevant statistics are available, subject to the provisions of paragraphs 4 and 5 below.
The quota review under the new formula,together with a decision regarding basic votes to ensure that as a minimum the share of the voting power of low-income countries was preserved when the quota review materialized, was a necessary first step to correct current anomalies.
Basic vote is calculated as 35 percent of total 2000 votes distributed equally among the existing 23 voting members.
Many developing countries, however, particularly smaller and poorer States,were frustrated by the modest scale of the increase in the basic vote component of the voting structure.
