Page 6 - LN- UN and its Organisations
P. 6

17. UN'S SIGNIFICANT AGENCIES


               1. International Monetary Fund (IMF)


               (a) At the international level, overseas financial institutions and


               regulations.


               (b) It consists of 180 members. Out of them, G-8 members


               enjoy more powers i.e. the US, Japan, Germany, France, the UK,


               Italy, Canada and Russia except China and Saudi Arabia.


               (c) The US alone enjoys 16.75% voting rights.


               2. World Bank


               (a) It was created in 1944.



               (b) It works for human development, agriculture and rural


               development, environmental protection, infrastructure and


               governance and provides loans and grants to developing


               countries.


               (c) It is criticised for setting the economic agenda of poorer


               nations, attaching stringent conditions to its loans and forcing


               free market reforms.



               3. WTO-World Trade Organisation
   1   2   3   4   5   6   7   8