IMF WTO AND THE WORLD BANK

and the present member states are 189 countries in number. Every country has a representative at the board of executives according to their important in financial terms. Therefore the countries that are more powerful economically at the world economy have more voting power compared to less powerful nations (Ostry, Berg, and Tsangarides, 2014). Mission The mission of IMF is to foster the global monetary cooperation, financial stability securing, and international facilitation of trade, promotion of the high level of employment, reduction of the poverty around the globe through sustainable growth of the economy (Chen et al. The method through which the organization achieves its activities is through monitoring, lending, and the capacity building. The World Trade Organization The World Trade Organization (WTO) is the only global organization which internationally deals with the matters concerning the trade rules between the trading countries.

The goals of the organization are centered at the development of the agreement of trade between nations to encourage the cross-border trade or commerce (Chen et al. The objectives entail setting the agreements concerning the trade, the agreement interpretation, and the facilitation of the settlement of disputes in trade. The organization becomes active after its birth in 1995. However, the roots are traceable back to the Bretton Woods agreement whereby there was the crafting of the General Agreement on Trade and Tariffs (GATT) with the effort of encouraging and supporting the trade among the member countries. That body is offering the financial aids to the creditworthy individual countries, such as the middle and the low-income countries. (IDA) International Development Association; which is mandated to provide the grants and loans to developing nations or countries (Chen et al.