How does IMF approve loans as India abstained from voting on $2.4-bn funding for Pak?
IMF Executive Board, consisting of 25 directors representing countries or groups of countries, vote to approve IMF's loans. Countries with bigger economies have more voting power at IMF, which makes decisions by consensus. Additionally, IMF doesn't allow for a 'no' vote and instead offers the provision to abstain from voting, which India did during voting on $2.4-billion funding for Pakistan.