BU491 Chapter Notes -International Monetary Fund, World Trade Organization, Multilateral Investment Guarantee Agency
Document Summary
Three levels of cooperation: global occurs mainly through international economic agreements or organizations, regional proceeds through common markets or unions, commodity proceeds through multilateral commodity cartels or agreements. Third function is to provide a forum for dealing with various emerging issues concerning the world trade system such as intellectual property, the environment, economic development, regional agreements, unfair trade practices, government procurement. Fourth function is to act as a united dispute settlement system for members through its. Issues with the wto are that developing countries are victims of unfair trade policies and practices adopted by rich nations. International monetary fund (imf: overall objectives of the imf are to promote international monetary cooperation and expansion of international trade and to reduce the disequilibrium in members" balances of payments. Individual countries hold sdrs in the form of deposits in the imf, part of each country"s international monetary reserves, along with each country"s holdings of gold, foreign change, and reserve position at the imf.
