60th Year Anatolian High School Model United Nations

Group-20

Study Guide

Academic Assistant – Berkay Korkmaz

Welcome letter from Secretary-General

Thank you all for your interest and participation in 60MUN. It was a very
difficult process to hold this conference. We faced many obstacles. There were too
many negative situations. The moment has come, we wanted to leave everything, but
we did not give up, we did not collapse, we came here. We met many different people
over time, laughed when the time came, cried when the time came, and here we are.
I am proud and honored to organize 60MUN for the fifth time. It has been my
dream for years to realize this conference. Now dreams come true and 60MUN rises
from the ashes. Hundreds of people will be together at this conference. We will be
connected for four days. We've been through tough times. Now it's time for the good
times.
I hope this conference will be the most productive for all participants. I hope
you get to know the problems of our world a little better. I hope your capacity to
solve them will increase. I believe we will succeed. We will establish the "Golden
Age" that past generations failed to achieve.
I repeat that those who are destined for victory do not hesitate to pay the price.
They are aware of what they are paying the price for. Therefore, as in the past, we,
those whose roots come from history in the soil, children of the new age in the
footsteps of tradition, will destroy the old and start the new "Golden Age".
I respectfully greet you all. I say welcome. Hope to see you on the morning of
January 23.

Secretary General
Efe Mert Kocakahya
Welcome letter from Academic Assistant

Esteemed delegates,
I am Berkay Korkmaz and I will be serving you as your Under Secretary-General
responsible for G-20 Committee. 60MUN’23 is going to be my 66st conference and I
have done my best to reflect the outcomes of those experiences to your study guide.
I’m graduated from Bornova Anatolian High School at 2020. Now, I’m
undergraduate student at İstanbul Commerence University, Department of
Psychology. I started to MUN in 2019 and in this time i’m trainer at
MUNTurkey.com
60MUN is best conferances in Izmır that you can participate. First annual session of
60MUN organised in 2016 and these conference is most important MUN of İzmir
Society.
I wish 60MUN’23 leaves you unique moments, wonderful friendships and an
academic outcome.
Should you have any questions, you can always contact me.
Yours Faithfully,

Berkay Korkmaz
Under Secretary-General
berkaykorkmaz02@gmail.com
LinkedIn: berkayyykorkmaz
Introduction to committee
The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries
and the European Union (EU). It works to address major issues related to the global
economy, such as international financial stability, climate change mitigation, and
sustainable development.
The G20 is composed of most of the world's largest economies, including both
industrialised and developing nations; it accounts for around 80% of gross world
product (GWP), 75% of international trade, two-thirds of the global population, and
60% of the world's land area.
The G20 was founded in 1999 in response to several world economic crises. Since
2008, it has convened at least once a year, with summits involving each member's
head of government or state, finance minister, or foreign minister, and other high-
ranking officials; the EU is represented by the European Commission and the
European Central Bank. Other countries, international organizations, and
nongovernmental organizations are invited to attend the summits, some on a
permanent basis.
At its 2009 summit, the G20 declared itself the primary venue for international
economic and financial cooperation. The group's stature has risen during the
subsequent decade, and it is recognised by analysts as exercising considerable global
influence; it is also criticised for its limited membership, lack of enforcement powers,
and for the alleged undermining of existing international institutions. Summits are
often met with protests, particularly by anti-globalisation groups.

Founding
The G20 is the latest in a series of post–World War II initiatives aimed at
international coordination of economic policy, which include institutions such as the
"Bretton Woods twins", the International Monetary Fund and the World Bank, and
what is now the World Trade Organization.
The G20 was foreshadowed at the Cologne summit of the G7 in June 1999, and
formally established at the G7 Finance Ministers' meeting on 26 September 1999
with an inaugural meeting on 15–16 December 1999 in Berlin. Canadian finance
minister Paul Martin was chosen as the first chairman and German finance minister
Hans Eichel hosted the inaugural meeting.
A 2004 report by Colin I. Bradford and Johannes F. Linn of the Brookings Institution
asserted the group was founded primarily at the initiative of Eichel, the concurrent
chair of the G7. However, Bradford later described then-Finance Minister of Canada
(and future Prime Minister of Canada) Paul Martin as "the crucial architect of the
formation of the G-20 at finance minister level", and as the one who later "proposed
that the G-20 countries move to leaders level summits". Canadian academic and
journalistic sources have also identified the G20 a project initiated by Martin and his
American counterpart then-Treasury Secretary Larry Summers. All acknowledge,
however, that Germany and the United States played a key role in bringing their
vision into reality.
Martin and Summers conceived of the G20 in response to the series of massive debt
crisesthat had spread across emerging markets in the late 1990s, beginning with the
Mexican peso crisis and followed by the 1997 Asian financial crisis, the 1998
Russian financial crisis, and eventually impacting the United States, most
prominently in the form of the collapse of the prominent hedge fund Long-Term
Capital Management in the autumn of 1998. It illustrated to them that in a rapidly
globalizing world, the G7, G8, and the Bretton Woods system would be unable to
provide financial stability, and they conceived of a new, broader permanent group of
major world economies that would give a voice and new responsibilities in providing
it.
The G20 membership was decided by Eichel's deputy Caio Koch-Weser and
Summers's deputy Timothy Geithner. According to the political economist Robert
Wade:
"Geithner and Koch-Weser went down the list of countries saying, Canada in,
Portugal out, South Africa in, Nigeria and Egypt out, and so on; they sent their list to
the other G7 finance ministries; and the invitations to the first meeting went out."

Early topics
The G20's primary focus has been governance of the global economy. Summit
themes have varied from year to year. The theme of the 2006 G20 ministerial meeting
was "Building and Sustaining Prosperity". The issues discussed included domestic
reforms to achieve "sustained growth", global energy and resource commodity
markets, reform of the World Bank and IMF, and the impact of demographic
changes.
In 2007, South Africa hosted the secretariat with Trevor A. Manuel, South African
Minister of Finance as chairperson of the G20.
In 2008, Guido Mantega, Brazil's Minister of Finance, was the G20 chairperson and
proposed dialogue on competition in financial markets, clean energy, economic
development and fiscal elements of growth and development.
On 11 October 2008 after a meeting of G7 finance ministers, US President George
W. Bushstated that the next meeting of the G20 would be important in finding
solutions to the burgeoning economic crisis of 2008.

Summits
The Summit of G20 Finance Ministers and Central Bank Governors, who prepare the
leaders' summit and implement their decisions, was created as a response both to the
financial crisis of 2007–2008 and to a growing recognition that key emerging
countries were not adequately included in the core of global economic discussion and
governance. Additionally, G20 summits of heads of state or government were held.
After the 2008 debut summit in Washington, DC, G20 leaders met twice a year: in
London and Pittsburgh in 2009, and in Toronto and Seoul in 2010.
Since 2011, when France chaired and hosted the G20, the summits have been held
only once a year. The 2016 summit was held in Hangzhou, China, the 2017 summit
was held in Hamburg, Germany, the 2018 summit was held in Buenos Aires,
Argentina, the 2019 summit was held in Osaka, Japan, the 2020 summit was
scheduled in Riyadh, Saudi Arabia but it was held virtually due to Covid-19, the 2021
summit was held in Rome, Italy and the 2022 summit was held in Bali, Indonesia.
A number of other ministerial-level G20 meetings have been held since 2010.
Agriculture ministerial meetings were conducted in 2011 and 2012; meetings of
foreign ministers were held in 2012 and 2013; trade ministers met in 2012 and 2014,
and employment ministerial meetings have taken place annually since 2010.
In 2012, the G20 Ministers of Tourism and Heads of Delegation of G20 member
countries and other invited States, as well as representatives from the World Travel
and Tourism Council (WTTC), World Tourism Organization (UNWTO) and other
organisations in the Travel & Tourism sector met in Mérida, Mexico, on May 16 at
the 4th G20 meeting and focused on 'Tourism as a means to Job Creation'. As a result
of this meeting and The World Travel & Tourism Council's Visa Impact Research,
later on the Leaders of the G20, convened in Los Cabos on 18–19 June, would
recognise the impact of Travel & Tourism for the first time. That year, the G20
Leaders Declaration added the following statement: "We recognise the role of travel
and tourism as a vehicle for job creation, economic growth and development, and,
while recognizing the sovereign right of States to control the entry of foreign
nationals, we will work towards developing travel facilitation initiatives in support of
job creation, quality work, poverty reduction and global growth."
In March 2014, the former Australian foreign minister Julie Bishop, when Australia
was hosting the 2014 G20 summit in Brisbane, proposed to ban Russia from the
summit over its annexation of Ukrainian Crimea. The BRICS foreign ministers
subsequently reminded Bishop that "the custodianship of the G20 belongs to all
Member States equally and no one Member State can unilaterally determine its nature
and character."
In 2016, the G20 framed its commitment to the 2030 Agenda (Sustainable
Development Goals) in three key themes; the promotion of strong sustainable and
balanced growth; protection of the planet from degradation; and furthering co-
operation with low-income and developing countries. At the G20 Summit in
Hangzhou, members agreed on an action plan and issued a high level principles
document to member countries to help facilitate the agenda's implementation.
Japan hosted the 2019 summit, The 2020 summit was to be held in Saudi Arabia, but
was instead held virtually on 21–22 November 2020 due to the COVID-19 pandemic
under the presidency of Saudi Arabia. 2021 G20 Rome summit which was held in
Rome, the capital city of Italy, on 30–31 October 2021.
Indonesia holds the G20 presidency from 1 December 2021 to 30 November 2022.
During its presidency, Indonesia has focused on the global COVID-19 pandemic and
how to collectively overcome the challenges related to it. The three priorities of
Indonesia's G20 presidency: global health architecture, digital transformations,
sustainable energy transitions.

Members
As of 2022, there are 20 members in the group: Argentina, Australia, Brazil, Canada,
China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia,
Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the
European Union. Guest invitees include, amongst others, Spain, the United Nations,
the World Bank, the African Unionand ASEAN.
Representatives include, at the leaders' summits, the leaders of nineteen countries and
of the European Union, and, at the ministerial-level meetings, the finance ministers
and central bank governors of nineteen countries and of the European Union.
In addition, each year, the G20's guests include Spain; the Chair of ASEAN; two
African countries (the chair of the African Union and a representative of the New
Partnership for Africa's Development (NEPAD) and a country (sometimes more than
one) invited by the presidency, usually from its own region.
The first of the tables below lists the member entities and their leaders, finance
ministers and central bank governors. The second table lists relevant statistics such as
population and GDP figures for each member, as well as detailing memberships of
other international organizations, such as the G7, BRICS and MIKTA. Total GDP
figures are given in millions of US dollars.

Climate Change

The climate crisis: the causes, the effects and the solutions
Life on Earth exists thanks to a combination of three factors: our distance from the
Sun, the chemical composition of our atmosphere and the presence of the water cycle.
The atmosphere, in particular, ensures our planet has a climate that is suitable for
sustaining life thanks to the natural greenhouse effect. When the Sun’s rays reach the
surface of the Earth, they are only partly absorbed, while the rest are reflected
outwards. Without the presence of the atmosphere, they would be dispersed into
space; instead, most of them are trapped and redirected back towards the Earth by
gases present in the atmosphere (mainly carbon dioxide and methane, but also water
vapor, etc.) called greenhouse gases because of the effect they produce.
This captured heat is added to the heat absorbed directly from the Sun’s rays. It’s
important to add that without the natural greenhouse effect, the average temperature
on the planet would be around -18°C instead of the current average of about 15°C.

The causes of climate change

If the greenhouse effect is such an advantageous phenomenon, why are we so
concerned about it today? What is the significance of global warming? And what is
meant by climate change?
Climate change has always existed over the course of our planet’s history. But the
global warming that we have been seeing for around the last 150 years is anomalous
because it is the result of human activity. It’s called the anthropogenic greenhouse
effect and occurs in addition to the natural greenhouse effect. With the industrial
revolution, man suddenly began pumping millions of metric tons of carbon dioxide
and other greenhouse gases into the atmosphere, doubling the quantity of CO2
present in the atmosphere compared with the minimum levels of the last 700
thousand years (410-415 parts per million compared with 200-180 parts per million).
This can be observed on a daily basis thanks to surveys by observatories such as the
one active in Mauna Loa, in the Hawaii archipelago. For around 15 years, the data
produced by thousands of scientists all over the world, analyzed and organized by the
Intergovernmental Panel on Climate Change (IPCC), has confirmed that global
warming derives from the anthropogenic greenhouse effect, i.e., it is caused by
human activity. In reality, the scientific basis for the connection between the levels of
carbon dioxide and rises in temperature was established back in the last century,
thanks to the work of Nobel Prize winner Svante Arrhenius, later confirmed by
American scientist David Keeling in the 1960s.

The consequences of climate change

Over the course of the last century the average temperature of the planet rose by 0.98
°C and the trend we’ve been seeing since 2000 would indicate that, unless
interventions are made, a further rise to reach 1.5° by 2030 is likely. The impact of
global warming is already evident: arctic sea ice has been shrinking by 12.85% each
decade, while coastal tide logs show that sea levels have been rising each year by
3.3mm since 1870. The decade 2009-2019 was the hottest ever recorded and 2020
was the second hottest year ever, only just behind the record year of 2016. The “fire
seasons” have become longer and more intense, like the one in Australia in 2019;
since 1990 the frequency of extreme weather events, such as cyclones and floods, has
also increased, occurring even at atypical moments of the year compared with the
past and at devastating levels of intensity. Phenomena such as El Niño have become
more irregular and have caused dangerous droughts in areas already threatened by
chronic aridity, like East Africa, while the Gulf Stream is slowing down and could
well change route. Plant and animal species are migrating in unpredictable ways from
one ecosystem to another, creating incalculable damage to biodiversity around the
world.
Defining all this with the term climate change is accurate but does not give the full
picture of what is happening. We must begin by talking about the climate crisis
because the climate has always been changing, but never so quickly and never in the
presence of such rigid and complex infrastructure as can be found in the cities and
production systems of industrialized countries.

Refugee problem

Refugee and migrant crisis

Every single day, families around the world are being forced from their homes. In
search of safety and a better life, they are risking everything to escape conflict,
disaster, poverty, or hunger, often leaving with nothing but the clothes they are
wearing.

Migration is not a threat to be stopped, it is a complex phenomenon to be managed.

But governments have been failing to meet their legal and moral obligations to
provide safety and assistance to vulnerable people in need of protection.

The long search for sanctuary

While displacement is not a new phenomenon, the scale of the current crisis is
unprecedented. Right now, there are more than 82 million people in the world who
have been forcibly displaced from their homes – the highest figure recorded by the
United Nations since the Second World War. Most people are displaced within their
country of origin or remain close to it.

Among this growing displaced population are more than 26 million refugees, around

half of whom are under the age of 18, and 48 million internally displaced persons,
who fled to other areas of their own countries.

The crisis in numbers

x2
Forced displacement has doubled since 2010 (41 million then vs 82 million now).
80%
80 per cent of the world’s displaced people are in countries affected by acute food
insecurity and malnutrition.
1/5
One in five displaced women living in humanitarian crisis and armed conflict have
experienced gender-based violence.
5
Five countries account for two-thirds of people displaced across borders: Syria,
Venezuela, Afghanistan, South Sudan and Myanmar.
1/6
Syria is accounting on its own for 13.2 million refugees, asylum seekers, and
internally displaced people, fully a sixth of the world’s total.

Cryptocurrency exchange

What is a Crypto Exchange?

A crypto exchange is a platform on which you can buy and sell cryptocurrency. You
can use exchanges to trade one crypto for another — converting Bitcoin to Litecoin,
for example — or to buy crypto using regular currency, like the U.S. Dollar.
Exchanges reflect current market prices of the cryptocurrencies they offer. You can
also convert cryptocurrencies back into the U.S. Dollar or another currency on an
exchange, to leave as cash within your account (if you want to trade back into crypto
later) or withdraw to your regular bank account.

There’s no one crypto exchange that’s best for every user, says Tyrone Ross, a
financial advisor and CEO of Onramp Invest, a crypto investment platform for
financial advisors. Instead, he says it helps to evaluate your own interests when it
comes to crypto, and find an exchange that aligns with your goals. For example,
maybe you’re looking for a specific coin, or you want to continue learning more as
you get into crypto investing.
“Am I looking for something like Casa, because Casa does a lot of work for me and I
don’t have to worry about a public and private key? Am I going to Gemini, because
Gemini has this weird coin that I want and they’ll allow me to buy it? Or am I going
to Coinbase because Coinbase has these really cool tools that allow me to learn and
earn crypto?”

What to Look for in an Exchange

Accessibility
Your location may prevent you from buying and selling crypto on certain exchanges
due to state or national regulations. Some countries, like China, have banned citizens
from accessing crypto exchanges at all.

In the United States, there’s a lot of regulatory uncertainty around cryptocurrency,

and some states have instituted their own regulations. For example, New York
requires exchanges to obtain a BitLicense before they can operate within the state and
only allows licensed companies to offer certain approved coins. Most other states
don’t have regulations as strict as New York, but many do regulate in some way, or
are taking steps to do so. Thirty-one total states have pending legislation regarding
digital currencies in their 2021 legislative sessions, according to the National
Conference of State Legislators.

You can often find information about the geographic limitations of an exchange — as
well as related accessibility factors, like national currencies accepted — on its
website or within the terms of service.

Security
Cryptocurrency isn’t backed by any central institution, and your cryptocurrency
holdings aren’t protected the same way as money in the bank or traditional
investments. Some exchanges, like Coinbase and Gemini, keep any balances in U.S.
Dollars you hold with them in FDIC-insured bank accounts. But FDIC insurance
doesn’t apply to cryptocurrency balances.

To protect your crypto, some exchanges have insurance policies to protect the digital
currencies users hold within the exchange from hacking or fraud. Coinbase, for
example, has an insurance policy worth $255 million. That means if Coinbase’s
reserves were hacked and any amount of crypto up to $255 million was taken,
account holders would be protected. Others, like Kraken, rely on their security
practices to protect clients rather than insurance policies.

Whether you plan to keep your crypto holdings within an exchange or only have it
there for a short time before moving it into your own wallet, the exchange’s security
should be top priority. For example, look into how much of its assets the exchange
keeps offline, in hard storage.This is even more important as the value of
cryptocurrencies grows, since more value means more lucrative targets for potential
thieves. In 2020, there were 28 total attacks on crypto exchanges, the largest of which
resulted in more than $200 million in cryptocurrency assets stolen from Singapore-
based crypto exchange KuCoin.

Look into how much of its assets the exchange keeps offline. While exchanges, by
nature, need to keep some crypto active to facilitate trades, it’s smart to keep the
majority of holdings in cold storage, or offline, where it’s more difficult for hackers
to access. Coinbase, for example, says it stores 98% of customer funds offline, while
only 2% is actively traded. That storage, combined with its $255 million insurance
policy, offers more reason to trust your crypto assets will be covered in the case of a
hack.

You can also look for general online security measures you may already be familiar
with on other platforms, such as two-factor authentication. That means, in addition to
your username and password, you’ll have to verify your identity using an additional
method, like entering a code you receive by text message, each time you log in.

In general, you may feel most secure sticking with more popular exchanges with an
already-large customer base. You may be taking more of a risk doing business with
smaller or newer exchanges that don’t have their security measures and offerings
spelled out clearly online.

“Size matters here,” says Douglas Boneparth, a financial advisor and president of
Bone Fide Wealth in New York. He points to Coinbase, which recently went public
on the Nasdaq stock exchange. “There are pros and cons to that, but you now have
public financials, you can actually see the health of the company, and that’s important
when thinking about using an exchange or investing with any company or product or
service that they’re providing.”

Fees
Fees are another thing to consider, but don’t necessarily let a high fee structure turn
you off an exchange. “The easier they make it for you to buy it, the higher the fee that
you’re going to be paying,” says Spencer Montgomery, founder of Uinta Crypto
Consulting, a program for new investors to learn about crypto. Higher fees can also
be a worthwhile tradeoff for the added protections and insurance that the bigger,
more popular exchanges provide.

Exchange fees may be a fixed price, but are often a percentage of your trade. Some
exchanges, like Cash App, charge fluctuating fees based on price volatility. Fees are
often charged per transaction, and can differ whether you’re the seller or the buyer.
There may also be different fees depending on which currencies you trade. Make sure
you understand exactly how and when an exchange plans to charge you for your
crypto transactions before handing over your cash.
Liquidity
If you plan to buy, sell, or trade your crypto, the exchange you choose should have
enough trade volume to ensure your holdings are relatively liquid, meaning you can
sell them when you want. Again, this can be an instance where size matters. Often,
the more popular exchanges are also those with the largest trade volumes.

When a lot of trades are happening within an exchange at any given time, it means
you have a higher chance of buying or selling the crypto you hold at the best price,
Montgomery says. Crypto prices move very quickly, so when you use an exchange
that doesn’t have a lot of trade volume, you could end up paying a higher price than
you would on more popular exchanges. For example, say you decide to buy Bitcoin
once its price falls below $32,000. If you’re on an exchange with a low trade volume,
you may end up actually paying a different price than you think, if your purchase
doesn’t actually go through until the price has moved back up.

CoinMarketCap, a price-tracking site for cryptocurrencies, continually tracks the

trade volume of hundreds of exchanges in operation. Currently, it lists Binance,
Coinbase, and Huobi as the top exchanges by volume worldwide.

Coins offered
Not every exchange offers each of the thousands of cryptocurrencies that exist.

If you’re interested in a popular coin like Bitcoin or Ethereum, you’ll probably find it
on any given exchange you’re considering. But newer altcoins, coins with a very
small market cap, or meme coins may require a bit more shopping around.

Just remember, these types of coins are often even riskier gambles on top of already
highly speculative, more established cryptocurrencies. That’s why many experts
recommend sticking with the big names like Bitcoin and Ethereum. With any crypto
coin you’re considering buying on an exchange, only trade in a cash value you’re
prepared to lose.

Educational tools
A big priority for crypto beginners when it comes to choosing an exchange is the
opportunity to learn more about different coins, digital assets, and blockchain
technology, Ross says.

“What is it that they do to make sure that they continually update you from an
education standpoint?” he asks.

Coinbase, for example, offers rewards for learning about new coins through its
Coinbase Earn program. In exchange for watching videos and completing quizzes
related to different coins, Coinbase will reward you with a small portion of the
crypto, which you can then hold or convert to something else. Others offer courses
and articles on site to help you learn about crypto markets, history, and innovations,
such as Gemini’s Cryptopedia or Binance Academy from Binance.

Storage
Storage can be a divisive topic among cryptocurrency enthusiasts. Many believe in
the “not your keys, not your coins,” adage, or the belief that you should hold the
public and private keys associated with your crypto holdings yourself, rather than
keeping them within your account for the exchange to custody.

However, an exchange that allows you to keep your crypto within your online
account can be a good choice, especially as a beginner. Later, once you’ve learned
more about storage options or increased your holdings, you may choose to keep your
crypto in your own wallet. But Ross warns against exchanges that only allow you to
store on their platform, like PayPal. Robinhood recently announced it will be creating
a crypto wallet so you can transfer your coins off-platform.

“Once you become a little bit more savvy, you may want to move your coins
somewhere else,” Ross says. If you decide later on that you want to move your coins
off that exchange — maybe after learning more about storage options you want to
keep your holdings in your own cold wallet, for example — you may find yourself
stuck if you choose an exchange without that option.

Tax information
As if taxes weren’t already complicated enough, reporting cryptocurrency can add
another layer of complexity to your tax return. “As the tax situation evolves around
crypto assets, it’s going to be really important for people to make sure that their
personal tax situation is up to speed as well,” Ross says.

You need to report any crypto trades you make as capital gains on your tax return.
That means you’ll need to know the value of your crypto when you buy it in U.S.
dollars, as well as the value of it when you sell.

Because Robinhood only allows you to transact on its platform, it provides a Form
1099-B tracking your cost basis and gains and losses, but that’s not the case on more
traditional exchanges.

“When you use cryptocurrency exchanges like Binance, Kraken, CoinBase, etc., they
don’t give you that form,” says Shehan Chandrasekera, CPA, head of tax strategy at
CoinTracker.io, a crypto tax software company. That’s because exchanges that allow
you to move your holdings off their platform can’t track everything in your personal
wallet or trades you make on other exchanges. “That’s when it becomes tricky and
when those users have to use a tool to reconcile their entire picture, get the data, and
then file their taxes.”
Auxiliary Organizations
ECOFIN
The Economic and Financial Affairs Council (ECOFIN) is one of the oldest
configurations of the Council of the European Union and is composed of the
economics and finance ministers of the 27 European Union member states, as well as
Budget Ministers when budgetary issues are discussed.
ECOFIN often works with the European Commissioner for Economic and Financial
Affairs and the President of the European Central Bank.

World Bank Group

The World Bank is an international financial institution that provides loans and grants
to the governments of low- and middle-income countries for the purpose of pursuing
capital projects. The World Bank is the collective name for the International Bank for
Reconstruction and Development (IBRD) and International Development Association
(IDA), two of five international organizations owned by the World Bank Group. It
was established along with the International Monetary Fund at the 1944 Bretton
Woods Conference. After a slow start, its first loan was to France in 1947. In the
1970s, it focused on loans to developing world countries, shifting away from that
mission in the 1980s. For the last 30 years, it has included NGOs and environmental
groups in its loan portfolio. Its loan strategy is influenced by the Millennium
Development Goals as well as environmental and social safeguards.

International Monetary Fund

IMF is an agency of the United Nations, and an international financial institution,
headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is
"working to foster global monetary cooperation, secure financial stability, facilitate
international trade, promote high employment and sustainable economic growth, and
reduce poverty around the world." Formed in 1944, started on 27 December 1945, at
the Bretton Woods Conference primarily by the ideas of Harry Dexter White and
John Maynard Keynes, it came into formal existence in 1945 with 29 member
countries and the goal of reconstructing the international monetary system. It now
plays a central role in the management of balance of payments difficulties and
international financial crises. Countries contribute funds to a pool through a quota
system from which countries experiencing balance of payments problems can borrow
money. As of 2016, the fund had XDR 477 billion (about US$667 billion).
World Trade Organization
WTO is an intergovernmental organization that regulates and facilitates international
trade. With effective cooperation in the United Nations System, governments use the
organization to establish, revise, and enforce the rules that govern international trade.
It officially commenced operations on 1 January 1995, pursuant to the 1994
Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade
(GATT) that had been established in 1948. The WTO is the world's largest
international economic organization, with 164 member states representing over 98%
of global trade and global GDP.

Bibliography
www.un.org
www.ilo.org