WTO is the world trade organization and their role is to help trade flow freely.
- only global organization dealing with the rules of trade between countries
- goal is to help producers of goods, services, exporters and importers conduct their business
- WTO agreements are signed by the large trading nations and are essentially binding contracts to keep trade policies within certain limits. ie. reduce protectionism by getting rid of tariffs or quotas.
- established in 1995
- 160 countries/members
World Bank is there to help developing countries.
- source of financial and technical assistance to developing countries
- aim is to reduce poverty and support development.
- They have two main goals: 1. end extreme poverty by 2030 and 2. promote shared prosperity (promoting incomes of the bottom 40% of developing countries)
IMF is the international monetary fund and they help countries with stability and growth
- 188 countries
- working to secure financial stability, facilitate international trade, promote employment and sustainable eco. growth along with reducing poverty
- independent organization that promotes monetary cooperation and exchange rate stability.
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