Question

Poverty reduction is the main goal of the Group of 20. International Monetary Fund. World Bank. World Trade Organization.

Answer 1

Poverty reduction is the main goal of the World Bank.

The strategy is about putting emphasis on getting the countries out of what the World Bank calls is Poverty traps.

These are poor infrastructure, low productivity and weak public health as well as education system.

Answer 2

The International Monetary Fund (IMF) is an international organization of 189 member countries that works to ensure the stability of the international monetary and financial system. The IMF’s mandate includes facilitating the expansion and balanced growth of international trade, promoting exchange stability, and providing the opportunity for the orderly correction of countries’ balance of payments problems. The IMF was established in 1945.

The World Trade Organization (WTO) is an international organization of 164 members that deals with the rules of trade between nations. With Russia’s accession in August 2012, the WTO encompasses all major trading economies. The WTO works to help international trade flow smoothly, predictably, and freely, and provides countries with a constructive and fair outlet for dealing with disputes over trade issues.

The work of the IMF and the WTO is complementary. A sound international financial system is needed to support vibrant international trade, while smoothly flowing trade helps reduce the risk of payments imbalances and financial crisis.