Denmark's representation in the IMF

Denmark's relations with the IMF are handled by Danmarks Nationalbank in cooperation with the Danish Ministry of Finance. Denmark's representative on the Board of Governors is Governor Nils Bernstein, Danmarks Nationalbank, with David Hellemann, Permanent Secretary, Ministry of Finance, as alternate member.

Denmark forms a constituency with the other Nordic countries and the three Baltic countries. The finance ministries and central banks of the Nordic and Baltic countries jointly appoint an Executive Director to the IMF's Executive Board. The IMF's Executive Board consists of 24 Executive Directors and handles the day-to-day management of the IMF. The voting powers of the Executive Directors are determined by the subscription paid by their country or constituency. The Nordic-Baltic Executive Director has 3.4 per cent of the total votes on the IMF's Executive Board.

The position of Executive Director for the Nordic and Baltic countries rotates among the Nordic countries, usually on a three-year basis. The Executive Director heads the Nordic-Baltic Office at the IMF, comprising an alternate Executive Director, 2 senior advisors and 4 advisors. These positions also rotate among the countries, usually on a three-year basis.

The views of the constituency on issues discussed by the IMF's Executive Board are coordinated between the central banks and finance ministries of the Nordic and Baltic countries. The country holding the position of Executive Director is responsible for coordinating these views. In the IMF's advisory committee, IMFC, the views of the Nordic and Baltic countries are presented by the country with the coordinating role in the Nordic-Baltic constituency.

The views of the countries are usually coordinated on a consensus basis. Only rarely is the view of the constituency determined by voting. It is also rare that a country with a diverging view exercises its right to make a minority statement. A country's votes in the constituency correspond to its share of the constituency's total votes in the IMF's Executive Board.