World Bank, IMF and WTO
Summary
TLDRThis script discusses the origins and functions of the World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO). Established post-WW2, the World Bank aids development in low and middle-income countries through loans. The IMF promotes international monetary cooperation and provides economic policy advice. The WTO, formed in 1995, aims to liberalize trade and facilitate negotiations for trade agreements. Together, they address global economic challenges and promote trade.
Takeaways
- đïž The World Bank was created post-World War 2 to help rebuild damaged parts of Europe and is now focused on fighting poverty in middle and low-income countries.
- đ To become a member of the World Bank, a country must first join the International Monetary Fund.
- đŒ The World Bank offers long-term loans to governments for financing development projects and economic reforms.
- đ The World Bank attaches conditions to loans to ensure economies are directed towards loan repayment.
- đ The International Monetary Fund (IMF) was also created in 1944 to promote international monetary cooperation and provide policy advice.
- đ The IMF's main function is to help countries build strong economies, raise living standards, and solve balance-of-payments problems.
- đĄ The World Trade Organization (WTO) was established in 1995, succeeding the General Agreement on Tariffs and Trade (GATT) from 1948.
- đ The WTO aims to liberalize trade and is a forum for governments to negotiate trade agreements.
- đ The WTO's system is designed to facilitate the free flow of trade between nations.
- đ Both the IMF and the WTO are related to macroeconomics as they deal with trading rules between nations and businesses.
Q & A
What was the purpose of creating the World Bank after World War 2?
-The World Bank was created to provide reconstruction assistance to the damaged parts of Europe after World War 2.
What is the primary function of the World Bank today?
-The World Bank's main function today is to fight poverty by offering developmental assistance to middle-income and low-income countries.
How does a country become a member of the World Bank?
-To become a member of the World Bank, a country must first join the International Monetary Fund and pay a subscription fee of 88, 99 percent to the IMF.
What type of loans does the World Bank offer to governments?
-The World Bank offers long-term loans to governments for financing developmental projects and economic reforms.
What conditions does the World Bank attach to its loans?
-The World Bank attaches conditions to its loans to ensure that the borrowing country's economy is structured towards loan repayment.
When and where was the International Monetary Fund (IMF) created?
-The International Monetary Fund was created in July 1944 in Bretton Woods, New Hampshire, United States.
What is the main function of the International Monetary Fund?
-The main function of the IMF is to promote international monetary cooperation, give policy advice, and provide capacity development support to help countries build and maintain strong economies.
What does the IMF do to solve balance-of-payments problems?
-The IMF designs policy programs to solve balance-of-payments problems when sufficient financing on affordable terms cannot be obtained to meet net international payments.
When did the World Trade Organization (WTO) begin?
-The World Trade Organization began on January 1st, 1995.
What is the main goal of the World Trade Organization?
-The main goal of the WTO is to liberalize trade and facilitate negotiations for trade agreements among governments.
How are the World Bank and IMF related to macroeconomics?
-The World Bank and IMF are related to macroeconomics by dealing with trading rules between nations and businesses, influencing economic policies and development.
Outlines
đ Introduction to the World Bank, IMF, and WTO
The script introduces the World Bank, the International Monetary Fund (IMF), and the World Trade Organization (WTO). It explains that these institutions were established post-World War II to address economic challenges and promote global cooperation. The World Bank was created to provide reconstruction assistance to war-torn Europe and now focuses on fighting poverty by offering developmental aid to low and middle-income countries. To become a member, a country must join the IMF and pay a subscription fee. The IMF was established to foster international monetary cooperation, offering policy advice and support to help countries maintain strong economies. The WTO facilitates trade liberalization and serves as a platform for governments to negotiate trade agreements, aiming to ensure trade flows as freely as possible. These organizations are interconnected through their roles in shaping macroeconomic policies and trade rules between nations.
Mindmap
Keywords
đĄWorld Bank
đĄInternational Monetary Fund (IMF)
đĄWorld Trade Organization (WTO)
đĄBretton Woods
đĄAllied nations
đĄMiddle-income countries
đĄLow-income countries
đĄDevelopmental assistance
đĄEconomic reforms
đĄBalance-of-payments problems
đĄGeneral Agreement on Tariffs and Trade (GATT)
Highlights
Introduction to the World Bank, International Monetary Fund, and World Trade Organization.
Historical context of World War 2 and the creation of the International Bank for Reconstruction.
The World Bank's evolution from the International Bank for Reconstruction to its current form.
The World Bank's mission to fight poverty through developmental assistance.
Membership requirement of joining the International Monetary Fund.
Subscription fee of 88, 99 percent to the International Monetary Fund for membership.
The World Bank's operation through long-term loans for economic reforms.
Conditions attached to World Bank loans for ensuring economic stability and loan repayment.
The International Monetary Fund's creation in Bretton Woods, New Hampshire.
The IMF's role in promoting international monetary cooperation.
IMF's function to provide policy advice and capacity development support.
IMF's approach to solving balance-of-payments problems.
The establishment of the World Trade Organization in 1995.
The WTO's role in liberalizing trade and negotiating trade agreements.
The WTO's objective to facilitate the free flow of trade.
The relationship between the two organizations and macroeconomics.
The significance of trading rules between nations and business in macroeconomics.
Transcripts
hello teachers and classmates with
working good afternoon or good not
depending in which our dear watch me
sleep today we're going to talk about
the World Bank the International
Monetary Fund and the World Trade
Organization we are going to see the
questions they will go and the route
here we go
to understand why and how was the word
and created we have to go back to the
ends of World War 2 in this period many
countries were damaged the victory
nations which were the Allied nations
including u.s. United Kingdom and others
created the International Bank for
Reconstruction in 1944 to reveal the
damaged parts of Europe eventually this
became known as the World Bank
its main function as an international
organization is to fight poverty by
offering developmental assistance to
middle-income and low-income countries
there are 1800 for members countries but
to become a member you must join first
the International Monetary Fund plus a
subscription the subscription is of 88
99 percent and has to be paid to the
International Monetary Fund they operate
by offering a long term loans to the
governments for the financing of the
mellah mental breaks and economic reform
the World Bank attaches conditions to
these loans with the stated aims of
ensuring the country's economy is
instructed towards loan repayment
[Music]
the International Monetary Fund was
created in July 1944 in Bretton Woods
New Hampshire United States it was
created to make new economic
developments and challenges its main
function is to promote International
Monetary cooperation and gives policy
advice and capacity development support
to help countries build and maintain a
strong economies and to raise living
standards in their member countries they
design policy programs to solve
balance-of-payments problems when the
sufficient financing unaffordable terms
cannot be obtained to meet net
international payments
the organization began life on January
1st of 1995 otis trading system is half
a century older since 1948 the general
agreement of tariffs and trade G ITT has
provided for the system the World Trade
Organization is an organization for
liberalizing trade it's a forum for
governments to negotiate trade
agreements the system proposed is to
help trade flow as freely as possible
the two organizations are related to
macroeconomics by dealing with the
trading rules between nations and
business
you
Voir Plus de Vidéos Connexes
Economic Globalization
The World Trade Organization (WTO) âą Explained With Maps
Bretton Woods Agreement#WorldBank#IMF | International Business | From A Business Professor
The International Monetary Fund (IMF) and the World Bank Explained in One Minute
CHAPTER 2: GLOBAL ECONOMY || The Contemporary World - Marvin Cabañero
KERJASAMA EKONOMI INTERNASIONAL : EKONOMI KELAS 11
5.0 / 5 (0 votes)