Professional Documents
Culture Documents
The International Monetary Fund (IMF) and World Bank, which began operations
shortly after the Second World War, were established with the missions of providing
for global financial stability and for post-war reconstruction.
The World Bank Group’s stated focus is on economic development and poverty
reduction. It provides loans and grants to governments and loans and guarantees to the
private sector in developing and emerging-market economies.
Several multilateral investment banks with specific regional focuses have also been
created to support economic development.
These conditions have often had a major impact on levels of employment, real wages
and social programmers’ and remain a serious concern for the trade union movement.
The ITUC has called for the incorporation of respect for fundamental workers’ rights
and decent work into the institutions’ policy advice and lending operations.
This includes advocacy in support of expanded social protection, and respect for
international human rights and labor standards.
The ITUC also works to promote appropriate rules and practices governing the
behavior of private businesses that receive financial support from the IFIs.
The ITUC/Global Unions Washington Office, which is a joint office of the ITUC and
the Global Union Federations, represents the concerns of the global labor movement
at the International Monetary Fund, World Bank and regional multilateral
development banks.