Worksheet: The World Bank, The IMF, and the WTO
World Bank IMF
When and why Partner organization of the
created IMF; created in 1947, created
to address world poverty; 189
members
Main purposes  offer support to developing 
countries through policy
advice, research and
analysis, and technical
assistance;  1970s: went from fixed to
 the World Bank has a
redistributive function –
providing low interest
loans to support investment
projects
Main  have assisted to promote
achievements long-term growth to
developing countries; has
taken into consideration
issues of sustainability and
growth
WTO
 Established in 1947 as part
of the Bretton Wood
agreement to oversee
international monetary
policy; located in
Washington, DC; 188
members
Chief purpose initially to
encourage international
cooperation in the
monetary field;
floating exchange rates so
fundamentally changed
role to one of lending to
the developing world, but
these loans came with
conditionalities, meaning
that those who borrowed
had to neoliberal policies
 As a guarantor of exchange
rates it was extremely
successful in the 1st 2
decades, and it did
contribute to sustained
growth in the post-WWII
era.
 In 2006 it changed it
Formed in 1995, as a
replacement for GATT
(General Agreement on
Trade & Tariffs)
 dealing with the rules of
trade between states
 The goal is to help
producers of goods and
services, exporters, and
importers conduct their
business.
 Acts as an arbiter of
disputes between members
when conflicts or
differences occur among
trade issues
 settles disputes and reduces
trade tensions
 cuts the cost of doing
business internationally
 encourages states to
cooperate with one another
on trade matters
 removes trade barriers and

Main criticisms  Promoted neoliberal
agenda and helped
maintain dependency and
poverty in the developing
world;
 An emphasis on
deregulation and
privatization in developing
countries meant some of
these developing countries
lost control over their
business sectors which
resulted in more poverty
and not less – lost their
social safety nets
governance mechanisms to trade tariffs among
allow more the role of member states to facilitate
developing countries to be the free movement of
heard, and to be more of a goods among countries
preventor of financial
crises
 Seen as an arm of  Another neoliberal IGO
neoliberal globalization, that operates along
forcing poor countries to neoliberal principles and
accept the US business practices which the
model developing world needs to
 An enemy of democracy follow
and human rights, since it  Subtle biases operate
has provided support for within the decision-making
military dictatorships, structures that favor
especially those that were developed countries over
close to the USA or linked developing countries;
to western interests.  Developed countries are
more likely to bring issues
before the WTO than
developing countries