Business Environment, 1st Edition by Pearson

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Part VIII: The External Sector

THE WTO, THE IMF AND THE WORLD BANK

A widespread integration of economic activity on a global scale has

led to an ever-increasing interdependence amongst different areas of

economic policy. Economic development, trade and fi nancial poli-

cies are increasingly intertwined within countries and in a way they

impact activities and policies of other countries. As a result, given

their commitments and responsibilities in these areas, the Interna-

tional Monetary Fund (IMF) and the WTO agreed in Singapore on

9 December, 1996 to cement their ties and relations when the then

WTO Director-General Renato Ruggiero and the then IMF Managing

Director Michel Camdessus signed an Agreement for future coopera-

tion and ...