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International Financial institutions

like IMF, WTO & WORLD BANK.

WHO ARE THEY ?


International Financial Institutions (IFIs): The
generic name given to all financial institutions
operating on an international level, ranging from
development banks, such as the World Bank.
Also monetary authorities, such as the
International Monetary Fund.
These organizations give loans to governments
for large-scale projects, restructuring and
balance of payments on condition that they
make specific changes that IFIs believe will boost
economic growth.

INTERNATIONAL MONETARY
FUND

INTRODUCTION
IMF is a forum of national economic policies and
financial systems, it involves active dialogue with
each member country.
IMF has its Headquarter in Washington D.C, USA.
IMF is an association among countries for financial
assistance.

IMF is an administrative unit that is international in


nature and whose objective is to regulate and
administer the financial system of the world.

Introduction
The International Monetary Fund (IMF) is an
international organization that was created on July 22,
1944 at the BRETTON WOODS conference.

it was created to prevent the kind reaction in economic


system that caused the Great Depression of the 1930s.

It observes exchange rates and balance of payments


and offers financial assistance.

Definition
The IMF describes itself as an
organization of 188 countries (as of
April 2012), working to foster global
monetary cooperation, secure
financial stability, facilitate
international trade, promote high
employment and sustainable
economic growth, and reduce
poverty.

PURPOSE

Promoting global monetary and exchange stability.

Facilitating the expansion and balanced growth of

international trade.
Assisting in the establishment of a multilateral

system of payments for current transactions.

It makes resources of fund available to members.

Foster economic growth.

Membership

any country can apply for membership to IMF.

the application is considered by IMFs Executive


Board.

IMF was established with 44 members but its


membership increased to 188 as on April 2012.

MANAGEMENT OF IMF
The management consists of the following
bodies :

Board of governors
The international monetary and
financial committee.
Executive board.

IMF AND INDIA


IMF and India have a positive relations.
India will provide $10 billion to IMFs crisis in
management fund which has been created for
euro zone crisis.
IMF revised its growth forecasts for India from 6.9
% to 6.1 % for year 2012.
2013 economic growth forecasts are 6.5% rather
than earlier 7.3 %.

WORLD TRADE ORGANISATION


(WTO)

About WTO
The World Trade Organization (WTO)
deals with the global rules of trade
between nations. Its main function is
to ensure that trade flows as
smoothly, predictably and freely as
possible.

ABOUT WTO
Location :- Geneva, Switzerland.
Established: 1 January 1995.
Created by : Uruguay Round negotiations
(1986-94).
Membership :155 members on 10May2012.
Budget : 196million Swiss francs for2012.
Pascal Lamy is the fifth Director-General of
the WTO.

OBJECTIVES

The WTO reiterates the objectives of


GATT .
Raising standard of living and
income.
Introduce sustainable development.
Taking positive steps to ensure that
developing countries.

Functions of WTO

Seeking to resolve trade disputes.

Overseeing national trade policies.

Cooperating with other international institutions.

Acting as a watchdog of international trade .

Acting as a forum for multilateral trade negotiations.

Technical assistance and training for developing


countries.