presented by Ashish Ranjan Das Devashish Sarangi

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Formation

1st Jan 1995

Headquarters
Members

:
:

Centre William Rappard, Geneva, Switzerland.

157 Member States.

Budget for 2012

Director-General

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:

196 million Swiss francs [204 million USD]

Pascal Lamy

Pascal Lamy is the fifth Director-General of the WTO. His appointment took effect on 1 September 2005 for a four-year term. In April 2009 WTO members reappointed Mr. Lamy for a second four-year term, starting on 1 September 2009.

 The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade.

It was established on January 1, 1995. It replaced GATT (General Agreements On Tariffs and Trade), which was formed after the Second World War.

The purpose was to facilitate international bargaining and to reduce barriers to trade.

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

At its heart are the WTO agreements, negotiated and signed by the bulk of the worlds trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.

Mid-1940s:
Meeting in Bretton Woods, New Hampshire, Created IMF and World Bank US tried to create ITO [International Trade Organization]

Interim agreement: GATT = General Agreement on Tariffs and Trade

When ITO failed to be approved by the US and few other signatory bodies, GATT governed trade policy by default (1946).

Rounds of GATT Multilateral Trade Negotiations

No. Years Name Accomplishments Reduced tariffs Tokyo Tariffs + NTBs 1-5 1947-61

6
7 8

1964-67 Kennedy Tariffs + anti-dumping

1973-79 1986-94 Uruguay Tariffs, NTBs, Services, Intellectual Property, Textiles, Ag., Dispute Settlement, Created WTO

Trade in merchandise goods, services and TRIPs. Dispute settlement is faster & more automatic. Permanent institution, own secretariat.

Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

Administering trade agreements

Acting as a forum for trade negotiations

Settling trade disputes

Reviewing national trade policies

Cooperating with other international organizations

Assisting developing countries in trade policy issues, through technical assistance and training programmes.

Negotiating the reduction or elimination of obstacles to trade (import tariffs, other barriers to trade) and agreeing on rules governing the conduct of international trade.

Assisting the process of accession of some 30 countries who are not yet members of the organization. Conducting economic research and collecting and disseminating trade data in support of the WTO's other main activities.

Ministerial Conferences

General Council

Goods, services and intellectual property [TRIPs] council

BENEFITS OF WTO
The system helps promote peace.

Rules make life easier for all.

Disputes are handled constructively.

Free trade cuts the cost of living.

It provides more choice of product and quality.

Trade raises income.

Trade stimulate economic growth.

The basic principle make life more efficient.

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It is an organization of 186 countries ,working to foster global monetary cooperation , secure financial stability ,facilitate international trade ,promote high employment and sustainable economic growth and reduce poverty . The IMF is the most detailed attempt to organize the conduct of international monetary affairs.

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The International Monetary Fund Was created in 1944, at the Bretton Woods conference to prevent the kinds of chain reaction in the economic system that caused world currencies to collapse like in the Great Depression of the 1930s. Bretton wood agreement was contracted in 1944 and IMF was created in 1946. IMF started to make service with IBRD (international bank of reconstruction and development) in 1947. The IMF was created to support orderly international currency exchanges and to help nations having balance of payment problems through short term loans of cash.

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IMF headquarters is in Washington D.C , U.S.A Five largest shareholders are United States, Japan, Germany, France, United Kingdom. China, Russia, and Saudi Arabia have their own seats on the Board. 16 other Executive Directors are elected for two year terms by groups of countries, known as Constituencies. Total quotas of $312 billion; outstanding loans of $71 billion to 82 countries (According to the report of August 31, 2005). The International Monetary Fund (IMF) is an organization of 186 countries.
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Original members- All those countries whose representatives took part in Bretton woods conference and who agreed to be the members Ordinary Members- All those who became its members subsequently Process- Board of directorsBoard of governors with supported all documents and subscription and quota amount as per the terms of membership

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Fund has the authority to suspend any member and similarly every member is free to resign. Total 187 members Only North Korea, the Vatican, and four other small countries in Europenone having its own currency are not members of the Fund

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To promote international monetary cooperation. To facilitate the expansion and balanced growth of international trade. To promote exchange rate stability To correct maladjustments in the balance of payment. To shorten the duration and lessen the degree of disequilibrium in the international balance of payments of members

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Quotas Gold Holdings Borrowings Arrangements

General Arrangements To Borrow (GAB) New Arrangements To Borrow (NAB)

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Drawing Rights (Lending)

Gold (Reserve) Tranche Credit Tranche

Lending Under Different Schemes

Compensatory and Contingency Financing Facility (CCFF) Buffer Stock Financing Facility Supplemental Reserve Facility (SRF)

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SDR is created by IMF It is not linked to any single currency nor does its creation depend on the supply or stock of gold. It does not belong to any single country All member countries have a claim on the created SDR. It is not tangible but only a book entry.

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Its value is determined by a basket of currencies and the value is usually expressed in US Dollar. At Present it is used for transactions between the governments. It is the unit of account of the IMF and used as an unit of account or as a basis of unit of account by a number of international organizations. Besides the members, SDRs are also held by prescribed international institutions. There are 15 such institutions at present.

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What is International Liquidity? Components of International Liquidity

Gold reserves with the Central bank of the country. Foreign currencies held by Central Banks. IMF Drawing Rights/Special Drawing Rights(SDRs). A countrys borrowing capacity in the international money market.

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International Liquidity problem arises when demand for it exceeds its supply. It is a problem of liquidity gap. Affects both the developing and the developed countries. The problem is a result of world trade expanding at a faster rate than the supply of international liquidity. Supply of Gold and Foreign exchange was growing far less than the growth of International trade

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IMF is an important source from where member countries obtain a part of international Liquidity. The main objective of IMF is to provide financial assistance to meet short term balance of payments problems. It also provides help to meet foreign exchange shortage that arises due to some unforeseen emergencies. IMF has played an important role in :Drawing Rights. Lending Schemes By Creating Special Drawing Rights
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Type

Purpose/focus Location Membership President -

Development Finance Institution Development assistance, Poverty reduction Washington DC 187 countries Jim Yong Kim

WORLD BANK GROUP

WORLD BANK OTHER ORGANIZATIONS

IBRD - International Bank for Reconstruction and Development IDA - International Development Association

IFC - International Finance Corporation

MIGA - Multilateral Investment Guarantee Agency ICSID - International Centre for Settlement of Investment Disputes

To assist in the reconstruction & development of its member countries. To promote private foreign investment. To promote balanced growth of international trade. To bring about a smooth transition from a war time economy to peace time economy. IBRD aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services.

PRESIDENT

BOARD OF GOVERNORS

BOARD OF EXECUTIVE DIRECTORS

BOARD COMMITTEE - MANAGING DIRECTORS VICE PRESIDENT & FINANCIAL OFFICERS

DEVELOPMENT COMMITTEE

Goal 1: Wipe out extreme Goal 2: Goal 3: Goal 4: Goal 5: Goal 6: Goal 7: Goal 8:

poverty and hunger Offer all children a good basic education Help women get equal rights and empower them Reduce death rate of young children Improve the health of mothers Combat HIV/AIDS, malaria, and other diseases Help countries protect their environments Promote a global partnership for development

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IBRD raises funds on capital markets

Donors give money to IDA for the worlds poorest countries, with additional money coming from repayments and from the Banks earnings

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Education: $1.9 billion HIV-AIDS: $2.5 billion for UNAIDS Health: $2.2 billion for health, nutrition, and population projects. Debt Relief: 27 countries Environment: $2.49 billion Partnerships: $4.8 billion Governance: $2.6 billion

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France was the first borrower for $250 million to finance postwar reconstruction in 1946 Many developed nations who are now donors, were also borrowers, such as Austria, Australia, Denmark, Japan, Italy, Finland, and Greece
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