GEOGRAPHY

International Monetary Fund

 

The International Monetary Fund (IMF) is an organisation of 188 countries, working to raise global monetary (money) cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It does this through keeping track of the global economy and the member countries, lending to countries with payment difficulties and giving practical help to members.

 

United Nations

 

Known as the ‘Guardian of international peace, security and human rights’. It promotes the development of poorer nations through work with the IMF and World Bank.  Through UN efforts, governments have concluded many multilateral agreements that make the world a safer, healthier place with greater opportunity and justice for all of us. This comprehensive body of international law, including human rights law, is one of the UN's great achievements. It has close links with UNESCO, WHO, UNICEF, FAO.

 

World Trade Organisation

 

Deals in the rules of trade between countries ensuring trade flows freely.  The World Trade Organization (WTO) deals with the rules of trade between countries. Its main function is to ensure that trade flows as freely as possible. They are often called in to deal with disputes between countries that have previously made trade agreements. The goal is to help producers of goods and services, exporters, and importers conduct their business without exploitation.

 

World Bank

 

The World Bank is a financial institution which provides loans to developing countries for capital programs (money making). Its official goal is the reduction of poverty, with all its decisions being guided through a commitment to the promotion of foreign investment and international trade, as well as the facilitation of capital investment. 

 

Trans National Company / Multi National Company

 

A company with its headquarters in one country which owns factories in one or more other countries and sells its products globally. The main priorities of a TNC are profit driven. They are always looking for the highest profit margins. This often means their factories are in LEDC’s to make the most of low wages and often have headquarters in MEDC’s.