The World Trade Organization (WTO) was established on January 1, 1995 to promote international trade without discrimination. Its key functions include facilitating agreements, administering dispute settlement, and overseeing members' trade policies. The WTO structure includes a Ministerial Conference, General Council, and committees to govern trade in goods, services, and intellectual property. The International Monetary Fund (IMF) was formed post-World War 2 to promote global economic cooperation and financial stability. The International Bank for Reconstruction and Development (IBRD) provides long-term financing to member countries for development projects, while the International Development Association focuses on poverty reduction in poorer nations.

1. World Trade Organisation
The basic purpose of the WTO is
to promote international trade
without any discrimination-1st
Jan,
1995

2. Functions of WTO
WTO shall facilitate the implementation,
Administration and operation of the plurilateral
trade aggreement.
WTO shall provide a forum for the negotiation
among its members concerning their multilateral
trade relations
WTO shall administer the understanding on rules
and procedures governing the settlement of
disputes
WTO shall administer the trade policy review
mechanism and
WTO shall co operate as appropriate with IMF
AND IBRD and with the affiliated agencies

3. Functions of WTO
WTO administers the 28 agreements contained in the final
act and the no of plurilateral agreements and the
government procurement through various councils and
committees
It oversees the implementations of issues related to tariff cut
an non tariff measures agreed to in the trade negotiations
It examines the trade regimes of the individual member
countries
WTO provides dispute settlement courts and panel
It acts as a management consultant for world trade
It provides technical co-operations and training
It can be used as a forum for continuous negotiations
It co-opts with the international institutions like IMF,IBRD etc
for making global economic policy
And it oversees the national trade policies of member
governments.

4. Organisation Structure of WTO
Ministerial Conference-policy and strategy making
body
General Council-executive body of WTO-disputes
settlement and trade related policy
Councils-trade in goods , trade in services and
trade related aspects of intellectual property
bodies
Committees and Management Bodies-committee
on trade and development, balance of payment
and budget, finance and administrations

5. International Monetary Fund
IMF is a post war international
monetary institution.
It came into existence to promote
economic and financial cooperation
among member countries

6. Objectives of IMF
Avoid the competitive devaluation and exchange
control
Establish and maintain currency convertibility with
stable exchange rate
To promote international monetary cooperation
To facilitate balance growth rate
To lend confidence to members by making the
fund’s resources available
To provide short term assistance to correct the
balance of payment

7. International Liquidity and Special
Drawing rights
Assets like bullion, commercial
credit , currencies, foreign securities
and SDR’s maintained by the
countries to settle the deficit in the
BOP and the aggregate total of such
stock of all the central banks in the
world is known as international
liquidity,.

8. Problems of international liquidity
Imports, Globalisation and structural
shifts

9. International Bank for
Reconstruction and Development
IBRD was established to provide long
term assistance for the reconstruction
and development of economies of the
economies of the member countries

10. Functions of IBRD
To assist in the reconstruction and
development and development of its
member countries
To promote private foreign investment by
means of guarantees
To promote long range balanced growth of
international trade and the maintenance of
equilibrium in the BOP of member
countries

11. International Development
Association
Established in 1960 as an affiliate to IBRD
Objectives –
To provide development finance on easy
terms to less developed member countries
To provide assistance for poverty
alleviation in the poorest countries
To provide finance at concessional interest
rates