Over 140 member countries pay a sum of their own currency into a pool. The amount paid in depends on the size of their economy. Countries can draw up to 25 per cent of their quota before the IMF begins to set conditions on the loan. Known as the World Bank. IBRD lends money to developing countries for capital projects such as power stations or roads.
Loans are for about thirty years and carry a low rate of interest.
The aim of the WTO is to help trade flow smoothly, freely, fairly and predictably. The OECD is made up of member countries who send a representative to a council. This offers an opportunity to discuss common policies to help stabilise exchange rates and encourage growth. The OECD also publishes surveys of individual economies. This is an international group of many of the largest oil-producing nations which tries to limit world production and so maintain the price of oil.