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Write historical background, structure, functions, features, advantages of following international financial institutions IMF WB SBP OIC...

Write historical background, structure, functions, features, advantages of following international financial institutions
IMF
WB
SBP
OIC
SAARC

Expert Solution

IMF: International Monetary Fund

Historical background-

Created in 1945, Organization of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employement

Structure-

Board of governors- one governor and one one alternate governer for each member country, Executive board, Managing director, staff, IMFC, Country Authorities

Functions and features-

Economic surveillance, Lending, Capacity development

Advantages-

Promotes global financial stability

Temporary financial help to countries having balance of payments problem

WB- World Bank

Background-

Formed 1944 along with IMF at Bretton Woods conference, Headquarters: Washington DC

Structure- 5 constituent institutions

IBRD, IDA, IFC, MIGA, ICSID

Function and features-

Helps war devastated countries by granting them loans

Help poor countries increase their economic growth

Advantages-

Poverty reduction by providing technical and financial support

Developmental assitance to low income countries

SBP- State bank of Pakistan

History- Bank was nationalized in 1974; Karachi

Structure- 10 Members: Governor, Secretary, Eight directors from each province

Functions and features- Conduct of Monetary and credit policies, Sole authority to issue notes

Advantages- Monetary stability, operate currency and credit system

OIC - Organization of Islamic Coorporation running IDB

History- 1975; Jeddah, Saudi Arabia

Structure- 57 Member states

Functions and features- Uphold peace and security, advance education and increase cooperation in social, economic, scientific areas

Advantages- Safeguard the interest and ensure the progress and well being of people

SAARC- South Asian Association for regional cooperation

Established- 1985; Dhaka

Structure- 6 Apex bodies, Secretariat, leaders

Functions and features- Development of economical and regional integration

Maintains permanent diplomatic relations at the UN as an observer

Advantages: Business Opportunities, platform for young entrepreneurs, networking, visa facilitation

ekkarill92 answered 4 months ago

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