und position and voting power within the IMF are determined by a nation's quota. Throughout the existence of the IMF, the United States has exercised virtual dictatorial power over the institution's policies and actions as a consequence of the voting power accruing to the United States through its quota (Doherty, 1992, pp. 2962-2963). The ability of the United States to control the IMF does not appear to be in imminent danger. Initially, the currency exchange regulating activities of the IMF were supplemented by limited loans to member nation's for balance of payments support. Over the years, the organization's loan activities, together with those of The World Bank, have assumed an ever greater role within the IMF/World Bank activity matrix, and since 1978, have become the prime activity of the two institutions. Since 1963, several special financing facilities have been established to supplement stand-by authority loans. These special facilities are as follows:
1. The compensatory financing facility, es
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