WTO, WB and IMF

Topics: International Monetary Fund, World Bank, World Bank Group Pages: 2 (601 words) Published: October 3, 2013
WTO stand for Wording Trading Organization, which is established on January 1 1995, headquartered in Geneva. Currently there are 159 member countries. Generally, WTO provides a fair and regulated communication platform for counties to interact, negotiated in terms of trading. The main role including strengthens the multilateral trading system and contributes to the standardization of competition on the world market and promotes the healthy development of world economy.The World Bank is established in 1945. Now the World Bank Group is(WBG) consist of 5 institutions, which are IBRD, IDA, IFC, MIGA and ICSID respectively. One of the origin purposes of the establishment was for helping the recover the economy and post-war reconstruction from the World War II. Today’s world bank inherits its original purpose, the role including support countries overcome poverty, and each institutions of WBG plays unique role s in alleviate poverty and improve people’s living standards. In 2012, the WBG provided $30 billion loans and assistance for developing countries or transition countries.International Monetary Fond(IMF) was established in 1945, built on the” The international monetary fund agreement” signed in 1944, together with WBG,IMF is one of the biggest two financial institutions. The main role of IMF is developing rules and regulation for the member states between exchange rate policies, the current project payment and currency exchange and conducting supervision for the actives among the members. Moreover, the other mission of IMF is providing assistance to countries that has serious economic difficulties. One of the characteristics of IMF is that it cannot be defined as aid agency or development bank. It loans to its members to help them solve the problem of international payments and helping them to restore sustainable economic growth. However, this loan is issued under some specific policies condition, which is that borrowers must be taken suitable policies to correct...
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