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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.
    •  Five largest shareholders: United States, Japan, Germany, France, United Kingdom.  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.  Its headquarters are in Washington, United States.
    •  The International Monetary Fund was conceived in July 1944 originally with 45 members and came into existence in December 1945 when 29 countries signed the agreement  IMF started to make service with IBRD in 1947.  The IMF works to improve the economies of its member countries
    • 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.  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.
    • Bretton wood agreement was contracted in 1944 and IMF was created in 1946. The Bretton Woods system of monitory management established the rules for commercial and financial relations among the world's major industrial states in the mid-20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. BRETTON WOODS SYSTEM
    • IMF headquarters is in Washington D.C , U.S.A 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). .
    •  Focusing on its core macroeconomic and financial areas of responsibility. Working in a complementary fashion with other institutions established.  Collection and allocation of reserves. Rendering advice to member countries on their international monetary affairs. Promoting research in various areas of international economics and monetary economics.  Providing a forum for discussion and consultation among member countries. Being in the center of competence.
    • IMF promote international monetary cooperation . expansion and balanced growth of international trade. IMF promote exchange rate stability . help establish multilateral system of payments and eliminate foreign exchange restrictions. IMF make resources of the Fund available to members. IMF can make the price of foreign money to be safe. IMF can solve the problem of countries that doesn’t want to allow the foreign money to make their currency’s value higher.
    • India and the IMF has a positive relationship. The IMF has provided financial assistance to India, which has helped in boosting the country's economy. The IMF praised the country for it was able to avoid the Asian Financial Crisis in 1999 and was also able to maintain the average rate of growth of its economy. The Managing Director of International Monetary Fund Rodrigo De Rato visited India in May 2005. INDIA AND THE IMF
    • In 2005, the IMF said that the budget of India is very positive for it points that the economy of the country will grow at the rate of 6.7%. International Monetary Fund said that the reasons behind the economy growth of India are that the RBI has been able to control inflation and has also handled its monetary policies very skillfully. The IMF has suggested that India can become a financial super power by bringing in more reforms in its economic policies that will increase its growth rate to 8%.
    • The world bank is an international organization dedicated to provide Financing, Advice and research to developing nations to aid their economic advancements It provides loans to the developing countries for capital advancement. The world bank focuses to reduce the poverty. The bank’s decision must be guided by a commitment to promote foreign investment, trade and enhance the capital investment.
    • The world bank was created at the end of the World War II. The world bank is one of the four institutions created at the Breton Woods conference, in 1944. Delegates from many countries attended the conference, the most powerful one is UK and USA Traditionally the world bank is leaded by a US citizen The Bank functions as an international organization that attempts to fight poverty by offering developmental assistance to middle and poor-income countries.
    • The bank was providing the loans for the reconstruction and development of needy countries. France was the first country to receive loan, From 1968 to 1980, the bank concentrated on meeting the basic needs of people in the developing world. In late 1980’s a report by UNICEF tells that the world bank were responsible for the "reduced health, nutritional and educational levels for tens of millions of children in Asia, Latin America, and Africa". From 1989 till present World Bank policy changed in response to criticism from many groups.
    • First president: Eugene Meyer Present president: Jim Yong Kim Managing director: Caroline Anstey, Sri Mulyani Indrawati Headquarters: Washington, D.C. Employees and offices: more than 9,000 employees in more than 100 offices worldwide GENERAL INFORMATION:
    • *To fight poverty with passion and professionalism for lasting results. *To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forgoing partnerships in the public and private sectors. *To be an excellent institution able to attract, excite, and nurture diverse and committed staff with exceptional skills who know how to listen and learn. MISSION STATEMENT
    • There are total of 188 member countries. Some of them are as follows MEMBER COUNTRIES
    • The World Bank was established to promote long-term foreign investment loans on reasonable terms. To assist in the reconstruction and development, restoration and reconversion of destroyed economies or nations etc. To promote private investment Investing in people, particularly through basic health and education. Focusing on social development, inclusion governance, and institution-building as key elements of poverty reduction. OBJECTIVES
    •  Strengthening the ability of the governments to deliver quality services, efficiently and transparently.  Protecting the environment.  Supporting and encouraging private business development.  Promoting reforms to create a stable macroeconomic environment, conducive to investment and long-term planning
    • To arrange the loans made or guaranteed by it in relation to international loans through other channels so that the more useful and urgent projects, large and small alike, will be dealt with first. To conduct its operations with due regard to the effect of international investment on business conditions in the territories of members To promote the long-range balanced growth of international trade
    • World Bank performs the following functions: *Granting reconstruction loans to war devastated countries. *Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc. *Providing loans to private concerns for specified projects. *Promoting foreign investment by guaranteeing loans provided by other organizations. *Providing technical, economic and monetary advice to member countries for specific project *Encouraging industrial development of underdeveloped countries by promoting economic reforms. *Granting developmental loans to underdeveloped countries. FUNCTIONS
    • 1. General Progress: (i) The Bank's membership has increased from the initial number of 30 countries to 68 countries in 1960 and to 151 countries in 1988. (ii) In 1960, the Bank approved loans worth $ 659 million which went up to $ 14,762 million in 1988. 2. Lending Operations: IBRD has granted loans worth $155049 million till June 1988 22% for energy, 21% for agriculture development, 18% for transportation, 10% for industry and small scale enterprises. ACHIEVEMENTS
    • 3. Term Loans: The Bank grants medium and long-term for reconstruction and development purposes to the member countries depending upon the estimated useful life of the equipment or plant financed. 4. Loans for Reconstruction: In the initial years of its establishment, the World Bank's loans were mainly directed to the European countries for financing their programs of reconstruction. The Bank provided loans worth about $ 5, 00 million for reconstruction purposes. 5. Traditional Development Loans Policy: The traditional development loan policy of the Bank has been to help the member nations to strengthen the foundations of their economies for rapid economic development.
    • 6. New Loan Strategy: (i) The amount of agricultural loans has increased (ii) The bank now also takes interest in the activities of the development of rural 7. Assistance to Underdeveloped Countries: The following are the main aspects of Bank's assistance to the underdeveloped countries (i) Bulk of the Bank's financial assistance has been given to the underdeveloped countries for the promotion of development.
    • (ii) Through its 'third window", the Bank has made available loans to the underdeveloped countries at tower interest rates. (iii) The Bank organizes meetings of creditor countries for extending assistance to the developing countries. Aid India Club is one such example. (iv) The Bank also provides technical assistance to the developing countries by making available training facilities through its various institutions.
    • Agriculture and Rural Development Economic policy Education Energy Environment Financial sector Health, nutrition and population industry Information, computing and telecommunication Law and justice Private sector Social protection Trade Water resources Water supply and sanitation AREA OF OPERATION
    • The International Bank for Reconstruction and Development (IBRD) • The International Development Association (IDA) • The International Finance Corporation (IFC) • The Multilateral Investment Guarantee Agency (MIGA) • The International Centre for the Settlement of Investment Disputes (ICSID). CONSISTS OF FIVE ORGANIZATIONS
    • INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT • The International Bank for Reconstruction and Development (IBRD) provides loans and development assistance to middle income countries in Latin America, Asia, Africa and Eastern Europe. • IBRD gets most of its funds by selling bonds in international capital markets.
    • The International Development Association (IDA) plays an important role in our mission to reduce poverty. Its support is focused on the poorest countries, to which it provides interest-free loans and grants. IDA depends on contributions from its wealthier member countries (includingsome developing countries) for most of its financial resources. INTERNATIONAL DEVELOPMENT ASSOCIATION INTERNATIONAL FINANCE CORPORATION The International Finance Corporation (IFC) promotes growth in the developing world by financing private-sector investments and providing technical support and advice to governments and businesses. In partnership with private investors, IFC provides loans and equity finance for business ventures in developing countries
    • The Multilateral Investment Guarantee Agency (MIGA) encourages foreign investment in developing countries by providing guarantees to foreign investors against loss caused by noncommercial risks. MIGA also provides technical support to help developing countries promote investment opportunities and uses its legal services to reduce possible barriers to investment MULTILATERAL INVESTMENT GUARANTEE AGENCY The International Centre for the Settlement of Investment Disputes (ICSID) provides facilities for settling investment disputes between foreign investors and their host countries. INTERNATIONAL CENTRE FOR THE SETTLEMENT OF INVESTMENT DISPUTES
    • World bank provides the largest external funds for education. It is a big support in reducing poverty. It provides fund for biodiversity projects. It helps to bring clean water, electricity, and transport to poor people. It helps in controlling emerging conflicts. 5 PRIORITIES OF WORLD BANK
    • INTERNATIONAL TRADE ORGANIZATIONS  The International Trade Organization, or ITO was the proposed name for an international institution for the regulation of trade.  A prospective organ proposed by the Bretton Woods Conference to establish rules and regulations for international trade  The ITO charter was agreed on at the UN Conference on Trade and Employment in March 1948, but was never ratified by the US Senate, thus never coming into existence
    • Roberto Azevedo 159 members on 2 March 2013 (with dates of membership).
    • GATT The General Agreement on Tariffs and Trade (GATT), the predecessor of WTO, was born in 1948 as result of the international desire to liberalize trade. The GATT was transformed into a World Trade Organization (WTO) with effect from January, 1995. India is one of the founder members of the IMF, World Bank, GATT and the WTO.
    • ADVANTAGES OF INTERNATIONAL TRADE • Leads to more efficient resource allocation and lower cost per unit of output as the market becomes bigger and broader to exercise economies of scale, etc. • It helps to widen the range of choice of goods or products • It allows the transfer of knowledge, technologies and information between trading partners • It enables the countries to specialization which increases the world output and standard of living It increases the need to become efficient and effective in the production process because of competition • It stimulates research and development policies and more rapid adoption of new technology to reduce cost of production
    • DISADVANTAGES OF INTERNATIONAL TRADE • One may need to wait for long term gains • Hiring professional staffs to launch international trade is timely and costly to do • Modifying product or packaging • Develop new promotional material • Incur added administrative costs • Dealing with special licenses and regulations • Apply for additional financing
    • The Uruguay Round *Uruguay Round (UR) is the name by which the eighth Round of the multilateral trade negotiations (MTNs) held under the auspices of the GATT is popularly known because it was launched in Punta del Este in Uruguay, a developing country, in September 1986. *The UR sought to broaden the scope of MTNs far wider by including new areas such as: • Trade in services • Trade related aspects of intellectual property (TRIPs) • Trade related investment measures (TRIMs).