DSST Business Ethics and Society-Study Guide 2

Combating corruption support for countries efforts at

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Combating corruption : Support for countries' efforts at eradicating corruption. Research, Consultancy and Training : provides platform for research on development issues, consultancy and conduct training programs (web based, on line, tele-/video conferencing and class room based) open for those who are interested from academia, students, government and non-governmental organization (NGO) officers etc. The Bank obtains funding for its operations primarily through the IBRD’s sale of AAA-rated bonds in the world’s financial markets . The IBRD’s income is generated from its lending activities, with its borrowings leveraging its own paid-in capital, plus the investment of its "float". The IDA obtains the majority of its funds from forty donor countries who replenish the bank’s funds every three years, and from loan repayments, which then become available for re-lending. International Monetary Fund ( IMF ) under the United Nations, was created to promote currency stability and international trade. It is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalizing economic policies on other countries as a condition for loans, restructuring or aid. It also offers highly leveraged loans, mainly to poorer countries. World Trade Organization ( WTO )-Founded to support free trade. Does NOT lend money – is essentially a regulatory and overseeing body. International organization designed to supervise and liberalize international trade. Commenced 1/1/95 under the Marrakech Agreement, replacing General Agreement on Tariffs and Trade (GATT) Has the power to govern world trade and determine whether a member country’s environmental, health and worker safety laws are a restrictive trade practice as defined by their rules Deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Among the various functions of the WTO, these are regarded by analysts as the most important: It oversees the implementation, administration and operation of the covered agreements. It provides a forum for negotiations and for settling disputes. Review and propagate the national trade policies, and ensure the coherence and transparency of trade policies through surveillance in global economic policy-making Assists in developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.
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