The IMF is overseen by a Board of Governors, composed of finance officers (such as the head of the central bank) from each of the 188 member countries.It also has an excutive board composed of 24 excutive directors representing the member countries. This board is based in Washington, D.C., and meets at least three times a week to discuss ongoing issues.
Board of Governors is the center of authority and decision making within the Federal Reserve System; the board must contain no more than seven persons, each selected by the president of the United States and confirmed by the U.S. senate for term not exceeding 14 years.