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

INTRODUCTIONIMF 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.

DefinitionThe 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 IMFThe management consists of the following bodies : Board of governors The international monetary and financial committee. Executive board.

IMF AND INDIAIMF 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.