What is the difference between imf and wto

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Who We Are News. Email Print. Tweet Share Share LinkedIn. Stumble Upon. The event came at a time when backlash against globalization is changing the course of elections and political votes in the US and Europe.

Newsletters View All newsletters ». The loans provided by IMF are of short to medium duration and intend to solve the balance of payment crisis of member countries. These loans are given from a fund that is made by contributions from member countries. Among donor countries, US and Japan are the biggest donors.

There is a quota system according to which every member country has to contribute to the fund of the IMF. IMF also works to see that exchange rates of the currencies of member countries remain stable and the economies of the member countries continue to expand and grow. WTO, on the other hand is a result of deliberations between the countries of the world that have been going on since when 1st round of GATT talks were held.

General Agreements on Tariffs and Trade tried to regulate trade between countries of the world with the mission to gradually remove trade barriers in the form of tariffs and quotas. Though at first glance there appears to be no connection between IMF and WTO but a deeper analysis reveals the close connection between the objective, role and responsibilities of the two world bodies.