1. International Financial Institutions Round 1 Worldquest 2007 Round 1 Worldquest 2007

2. World Trade Organization All information from www.wto.org Geneva, Switzerland Established January 1, 1995 Created by Uruguay Round Negotiations (1986-1994) 150 member nations as of 1/11/07 2006 Budget- 175mil Swiss francs (~141million USD) Staff- 635 Geneva, Switzerland Established January 1, 1995 Created by Uruguay Round Negotiations (1986-1994) 150 member nations as of 1/11/07 2006 Budget- 175mil Swiss francs (~141million USD) Staff- 635

3. Functions of the WTO Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations

4. Director-General of the WTO Pascal Lamy http://www.wto.org/images/img_dg_pl/tnc_13oct05_b.jpg

5. What the WTO does and how it works Click Here for More Information Click Here for More Information

6. International Monetary Fund All information from www.imf.org Conceived at a UN conference in Bretton Woods New Hampshire in July 1944 Governments “sought to build a framework for economic cooperation that would avoid a repetition of the disastrous policies that had contributed to the Great Depression of the 1930s” Conceived at a UN conference in Bretton Woods New Hampshire in July 1944 Governments “sought to build a framework for economic cooperation that would avoid a repetition of the disastrous policies that had contributed to the Great Depression of the 1930s”

7. Facts on the IMF 184 countries Staff- 2,716 from 165 countries Total Quotas (money given by countries when they join) $317 billion Loans Outstanding $28 billion to 74 countries, of which $6 billion to 56 on concessional terms More than 75 percent of the IMF's technical assistance goes to low-income and lower-middle-income countries 184 countries Staff- 2,716 from 165 countries Total Quotas (money given by countries when they join) $317 billion Loans Outstanding $28 billion to 74 countries, of which $6 billion to 56 on concessional terms More than 75 percent of the IMF's technical assistance goes to low-income and lower-middle-income countries

8. IMF Responsibilities promoting international monetary cooperation facilitating the expansion and balanced growth of international trade exchange stability assisting in the establishment of a multilateral system of payments making its resources available (under adequate safeguards) to members experiencing balance of payments difficulties promoting international monetary cooperation facilitating the expansion and balanced growth of international trade exchange stability assisting in the establishment of a multilateral system of payments making its resources available (under adequate safeguards) to members experiencing balance of payments difficulties

9. Operation of the IMF Board of Governors –One governor per country (usu. Finance minister or central bank governor –Meet once per year at the Annual Meetings of the IMF and World Bank (usu. Sept or Oct) Day-to-day work carried out by the Executive Board –Headed by the IMF Managing Director elected to a renewable five year term –Meet 3 times a week (more if needed) in full day sessions at the IMF headquarters in Washington, D.C. –24 Executive Directors 8 by single countries (Five largest quota holders [US, Japan, Germany, France, and the UK] also China, Russia, and Saudi Arabia) 16 for two-year terms by groups of countries called “ constituencies ” Weighted voting (not one country - one vote) –Based on quota in IMF (roughly economic size) Board of Governors –One governor per country (usu. Finance minister or central bank governor –Meet once per year at the Annual Meetings of the IMF and World Bank (usu. Sept or Oct) Day-to-day work carried out by the Executive Board –Headed by the IMF Managing Director elected to a renewable five year term –Meet 3 times a week (more if needed) in full day sessions at the IMF headquarters in Washington, D.C. –24 Executive Directors 8 by single countries (Five largest quota holders [US, Japan, Germany, France, and the UK] also China, Russia, and Saudi Arabia) 16 for two-year terms by groups of countries called “ constituencies ” Weighted voting (not one country - one vote) –Based on quota in IMF (roughly economic size)

10. IMF Managing Director Rodrigo de Rato y Figaredo Spanish National Born in Madrid on March 18, 1949 Was Vice President for Economic Affairs and Minister of Economy for the Government of Spain Rodrigo de Rato y Figaredo Spanish National Born in Madrid on March 18, 1949 Was Vice President for Economic Affairs and Minister of Economy for the Government of Spain

11. World Bank vs. IMF From www.imf.org The IMF and the World Bank have different mandates The World Bank was established at the Bretton Woods Conference at the same time as the IMF. Its purpose was to help war-ravaged countries rebuild. The earliest recipients of its loans were the European countries and Japan. By the early 1960s, these countries no longer needed World Bank assistance, and its lending was redirected to the newly independent and emerging nations of Africa, Asia, Latin America, and the Middle East, and, in the 1990s, to the transition countries of Central and Eastern Europe.The IMF and the World Bank complement each other's work. While the IMF's focus is chiefly on macroeconomic and financial sector issues, the World Bank is concerned mainly with longer-term development and poverty reduction. Its loans finance infrastructure projects, the reform of particular sectors of the economy, and broader structural reforms.Countries must join the IMF to be eligible for World Bank membership. The IMF and the World Bank have different mandates The World Bank was established at the Bretton Woods Conference at the same time as the IMF. Its purpose was to help war-ravaged countries rebuild. The earliest recipients of its loans were the European countries and Japan. By the early 1960s, these countries no longer needed World Bank assistance, and its lending was redirected to the newly independent and emerging nations of Africa, Asia, Latin America, and the Middle East, and, in the 1990s, to the transition countries of Central and Eastern Europe.The IMF and the World Bank complement each other's work. While the IMF's focus is chiefly on macroeconomic and financial sector issues, the World Bank is concerned mainly with longer-term development and poverty reduction. Its loans finance infrastructure projects, the reform of particular sectors of the economy, and broader structural reforms.Countries must join the IMF to be eligible for World Bank membership.