WTO IMF orld Bank.docVIP

HIGHER NATIONAL DIPLOMA Student name：Wangtai Class：10G3  Index 1 WTO IMF World Bank 1.1When why flow 1.2evolvement 1.3chontribute WTO IMF World Bank 1.1.The organization officially commenced on January 1, 1995 under the?Marrakech Agreement, replacing the General?(GATT), which commenced in 1948. And another one IMF is The?IMF was conceived?in July 1944, when representatives of 45 countries meeting in the town of Bretton Woods, New Hampshire, in the northeastern United States, agreed on a framework for international economic cooperation, to be established after the Second World War.? They believed that such a framework was necessary to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression. The IMF came into formal existence in December 1945, when its first 29 member countries signed its?Articles of Agreement. It began operations on March 1, 1947. Later that year, France became the first country to borrow from the IMF. The IMFs membership began to expand in the late 1950s and during the 1960s as many African countries became independent and applied for membership. But the Cold War limited the Funds membership, with most countries in the Soviet sphere of influence not joining. The world bank is Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Our mission evolved from the International Bank for Reconstruction and Development (IBRD) as facilitator of post-war reconstruction and development to the present day mandate of worldwide poverty alleviation in close coordination with our affiliate, the International Development Association, and other members of the World Bank Group, the?International Finance Corporation (IFC), the?Multilateral Guarantee Agency (MIGA), and theInternational Centre for the Settlement of Investment Disputes (ICSID).. Once we had a homogeneous staff of engineers and financial analysts, based solely in Wa