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What Are The Global Economic Organizations?

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Chapter Summary

The International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank (along with its younger associates, the regional development banks) are the most powerful public intergovernmental institutions in the world economic order. This chapter explores the global economic organizations (GEOs)-when and why they were created, how they have changed through time, and how they operate today. In doing so, it pays special attention to the legal and ideological foundations on which they rest. The aim of all this is to set the stage for a discussion of what role they play in the Global Development War and how (if at all) they can be reformed to meet the needs of today and tomorrow. The chapter presents an appendix that presents two tables that show voting power of IMF member countries and constituencies.

Keywords:global economic organizations (GEOs); International Monetary Fund (IMF); multilateral development banks (MDBs); voting power; World Bank; World Trade Organization (WTO)



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