The Relationship Between The Imf And World Bank, Questions And Answers

749 words - 3 pages

1. Where does the IMF get its money from?
The IMF gets its money from the member of countries and by their payment of quotas.

2. Does the IMF help the poor countries? If so, how?
The IMF helps and supports the poor countries by changing nature of economic circumstances and prevents the major economic disasters in poor countries. It also helps to eliminate the weakness of a country due to global economic crisis.

3. Why was the IMF formed in the first place?
The IMF promotes worldwide economic stability and monetary association. It encourages international trade, promotes high employment and comfort economic development and reduce poverty around the world.

4. What is the relationship ...view middle of the document...

2. When was it formed?
The WTO (World Trade Organization) was formed on January 1st, 1995.

3. Why was it formed?
The purpose of WTO is to make trade easy. All the members of WTO are to be treated equally and fair. WTO keep records and provides information regarding company's current progress. It also solves major problems like disagreements within nations.

4. Compare and contrast the WTO and NAFTA. List 2 differences and 2 similarities.
Differences:
 WTO is related to the whole world whereas NAFTA is only related to North America region.
 WTO is a worldwide association and its goal is to manage and liberalize capital trade in the worldwide position. However, NAFTA is an agreement between Canada, US and Mexico.

Similarities:
 "Both negotiations borrowed heavily from the innovations and
lessons of the other”
 "The results of the two do overlap, NAFTA usually provides for
greater and quicker strides toward complete market access.”

EU

1. How did the European Union originate?
The European Union started with the goal of ending the Second World War. To protect life long peace, the European coal and steel community has economically and politically united the European countries.

2. What is the Common Agricultural Policy? How is it governed?
The...

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