Question

How have the roles of the IMF, the World Bank and the WTO changed over the last number of decades? Detailed explanation required

Answer 1

International Monetary Fund: The I M F is the central bank of all countries .The IMF came into existence in december 1945,began operations in 1947.Its operational objective include international trade development,protection of exchange value,logistical support and additional financial support for member states.we have seen unprecedented economic growth in the west over the last several decades , supported by the IMF.The IMF has adopted an approach that supports capitalism.But now IMF working to foster global monetary cooperation financial stability,sustanable economic growth and reduce poverty around the world.

World bank(IBRD):Established in 1945 ,the world bank began operations in 1946.It is working to provide financial support to the world's poorest countries and developing countries. recently the world bank has issuing sustainable development bonds in international capital markets for over 70 years to fund program and activities.In 1970 bank shifted its attention to poverty eradication.1980 bank focus on issues of social development.Now wold bank take a lot functions regarding welfare allover the world.

World Trade Organisation(WTO):GAAT was formed in 1948 and transformed into WTO in 1995.Its main objective is fecilitate international trade.It is giving the sevice like exlort,import and conduct their busdiness in peaceful manner. Now the WTO has lost its ability to broker meaningful agreements.but WTO's case load has grown substancially since 2008 after the financial crisis.