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Describe the primary functions of the World Bank, the IMF, and the WTO. When was each...

Describe the primary functions of the World Bank, the IMF, and the WTO. When was each of these organizations formed?

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Answer #1

World bank and imf were formed with the bretton woods treaty in july 1944. WTO was formed after Marrakesh Agreement in 1995.

World bank aims "At Bretton Woods the international community assigned to the World Bank the aims implied in its formal name, the International Bank for Reconstruction and Development (IBRD), giving it primary responsibility for financing economic development" 1

IMF on the other hand aims at statibilising the global economic structure. It also aims at global monetary cooperation, financial stability, debt revovery.

WTO is the international body to oversee the trade realted issues. It wishes to bring a sense of uniformity in global trading practices.

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