Explain the difference between IGOs, IMF and WTO. Explain the impact the General Agreement on Tariff and Trade had on these organizations, if any?
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Explain the difference between IGOs, IMF and WTO
Intergovernmental organizations (IGO) is the term used to denote the organizations that are formed by participation of two or more Governments. The aim of such organizations is to reach consensus on important matters and promote economic growth and development. As pointed out by Hebron & Stack (2008), there are many unelected IGOs such as WTO (World Trade Organization) and International Monetary Fund (IMF) which seek to reduce economic borders and promote integration. With membership base of more than 150 economies, both of these are prominent IGOs. There are regional IGOs also such as ASEAN, SAARC, etc. that are not focused on the entire world, but relate to a particular region....
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