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RE-CONSTRUCTION GUARANTEE The economic and social destruction of countries which were effected II World War proved that the entailment of consortuim arround the re-organized world. Other hand countries which were called as a winner of war want to increase their gains by setting up new trade and financial arrangement under the collective institutions. The IMF was conceived in July 1944 in USA Agreed on a framework for international economic cooperation They had been believed that such a framework was necessary to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression of the 1930s The governments need to guarantor institution supporting and organizing global economic dinamics such as IMF does. The International Monetary Fund (IMF) is an organization of 186 countries, Working to foster global monetary cooperation Secure financial Stability Facilitate international trade Promote high employment and sustainable economic growth Reduce poverty around the world BASICAL GAME THEORY MAXIMIZING GROUP PAYOFF NOT INDIVIDUAL The IMF has played a part in shaping the global economy since the end of World War II The money comes from ! The IMF's resources come mainly from the money that countries pay as their capital subscription when they become members The IMF's fundamental mission is to help ensure stability in the international system 3 KEYS 1- Keeping track of the global economy and the economies of member countries 2- Lending to countries with balance of payments difficulties 3- Giving practical help to members Global surveillance Entails reviews by the IMF's global economic trends and developments and based on the World Economic Outlook reports and the Global Financial Stability Report, which covers developments, prospects, and policy issues in international financial markets REGIONAL SURVEILLANCE involves examination by the IMF of policies pursued under currency unions including the euro area likes the West African Economic and Monetary Union. COUNTRY SURVEILLANCE IMF team of economists visits a country to assess economic and financial developments and discuss the country's economic and financial policies with government and central bank officials BENEFICIARIES OF TECHNICAL ASSISTANCE Technical assistance is one of the IMF's core activities. It is concentrated in critical areas of macroeconomic policy where the Fund has the greatest comparative advantage. THE TYPES OF TECHNICAL ASSISTANCE It takes different forms, according to needs, ranging from long-term hands-on capacity building to short-notice policy support in a financial crisis PARTNERSHIP WITH DONORS Contributions from bilateral and multilateral donors are playing an increasingly important role in enabling the IMF to meet country needs in this area, now financing about two thirds of the IMF's field delivery of technical assistance A country in severe financial trouble, unable to pay its international bills, poses potential problems for the international financial system, which the IMF was created to protect. Any member country, whether rich, middle-income, or poor, can turn to the IMF for financing if it has a balance of payments need—that is, if it cannot find sufficient financing on affordable terms in the capital markets to make its international payments and maintain a safe level of reserves. The larger a country's economy in terms of output and the larger and more variable its trade, the larger its quota tends to be. For example, the world's biggest economy, the United States, has the largest quota in the IMF. Quotas, together with the equal number of basic votes each member has, determine countries' voting power. They also help determine how much countries can borrow from the IMF and their share in allocations of SPECIAL DRAWING RIGHTS (DRS) Countries pay 25 percent of their quota subscriptions in SDRs or major currencies, such as U.S. dollars, euros, pounds sterling, or Japanese yen. They pay the remaining 75 percent in their own currencies The IMF holds a relatively large amount of gold among its assets, not only for reasons of financial soundness, but also to meet unforeseen contingencies. The IMF holds 103.4 million ounces (3,217 metric tons) of gold, worth about $83 billion as of end-August 2009, making it the third-largest official holder of gold in the world. If the IMF believes that its resources might fall short of members' needs For example, in the event of a major financial crisis it can supplement its own resources by borrowing. It has had a range of bilateral borrowing arrangements in the 1970s and 1980s. Currently it has two standing multilateral borrowing arrangements and one bilateral borrowing agreement The World Bank is a vital source of financial and technical assistance to developing countries around the world. Basic mission is to fight poverty with professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors. The World Bank, established in 1944, is headquartered in Washington, D.C. We have more than 10,000 employees in more than 100 offices worldwide Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions Total member countries in each institution The International Bank for Reconstruction and Development (IBRD) 186 The International Development Association (IDA) 169 The International Finance Corporation (IFC) 182 The Multilateral Investment Guarantee Agency (MIGA) 175 International Centre for Settlement of Investment Disputes (ICSID) 144 The World Bank's two closely affiliated entities the INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION provide low or no interest loans (credits) and grants to countries that have unfavorable or no access to international credit markets The money comes from ! FUND GENERATION IBRD lending to developing countries is primarily financed by selling AAA-rated bonds in the world's financial markets. TRUST FUNDS AND GRANTS Donor governments and a broad array of private and public institutions make deposits in trust funds that are housed at the World Bank. LOANS Countries use investment operations for goods, works and services in support of economic and social development projects in a broad range of economic and social sectors. ANALYTIC & ADVISORY SERVICES Poverty Assessments Public Expenditure Reviews Country Economic Reports Sector Reports Topics in Development The Bank focuses on achievement of the Millennium Development Goals that call for the elimination of poverty and sustained development. The goals provide us with targets and yardsticks for measuring results. Mission is to help developing countries and their people reach the goals by working with our partners to alleviate poverty. POOREST COUNTRIES FRAIGLE STATES ARAB WORLDS MIDDLE INCOME COUNTRIES SOLVING GLOBAL PUBLIC GOODS ISSUES DELIVERING KNOWLEDGE The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Decisions are normally taken by consensus. The GATT was the only multilateral instrument governing international trade from 1948 until the WTO was established in 1995. Despite attempts in the mid 1950s and 1960s to create some form of institutional mechanism for international trade. GATT & WTO ROUNDs GENEVA ANNECY TORQUAY GENEVA II DILLION KENNEDY TOKYO URUGUAY DOHA Name Start Duration Countries Subjects covered Achievements Geneva April 1947 7 months 23 Tariffs Signing of GATT, 45,000 tariff concessions affecting $10 billion of trade Annecy April 1949 5 months 13 Tariffs Countries exchanged some 5,000 tariff concessions Torquay September 1950 8 months 38 Tariffs Countries exchanged some 8,700 tariff concessions, cutting the 1948 tariff levels by 25% Geneva II January 1956 5 months 26 Tariffs, admission of Japan $2.5 billion in tariff reductions Dillon September 1960 11 months 26 Tariffs Tariff concessions worth $4.9 billion of world trade Kennedy May-64 37 months 62 Tariffs, Anti-dumping Tariff concessions worth $40 billion of world trade Tokyo September 1973 74 months 102 Tariffs, non-tariff measures, "framework" agreements Tariff reductions worth more than $300 billion dollars achieved Uruguay Doha September 1986 November 2001 87 months 123 Tariffs, non-tariff measures, The round led to the creation of WTO, and extended the range of trade rules, services, intellectual negotiations, leading to major reductions in tariffs (about 40%) and property, dispute settlement, agricultural subsidies, an agreement to allow full access for textiles textiles, agriculture, creation of and clothing from developing countries, and an extension of WTO, etc intellectual property rights. 141 Tariffs, non-tariff measures, agriculture, labor standards, environment, competition, investment, transparency, patents etc The round is not yet concluded. Non-Discrimination It has two major components the most favored nation rule, and the national treatment policy. Reciprocity It reflects both a desire to limit the scope of free-riding that may arise because of the MFN rule, and a desire to obtain better access to foreign markets. Transparency Binding and Enforceable Commitments The tariff commitments made by WTO members in a multilateral trade negotiation and on accession are enumerated in a schedule (list) of concessions. Safety Valves In specific circumstances, governments are able to restrict trade. 2006432066 2006431017 2006432009 2006431001 ORÇUN TEKE BUKET CANSU ELKILIÇ TÜLAY AYDIN YAHYA AÇLAN