Meneses, Angel Lyn V.

MW 9:00-10:30 AM

IBAT

1. World Trade Organization (WTO)

ABOUT:

The World Trade Organization (WTO) is an international organization that deals with the global rules of trade
between nations. It was established in 1995 and is headquartered in Geneva, Switzerland. The WTO serves as a forum
for member countries to negotiate trade agreements, resolve trade disputes, and monitor national trade policies. Its
primary goal is to promote free and fair trade by reducing barriers, such as tariffs and quotas, and ensuring that trade
rules are transparent and predictable.

The WTO operates on the principles of non-discrimination, most-favored-nation treatment, and the promotion of
fair competition. It provides a platform for member countries to engage in trade negotiations, known as rounds, to address
various trade issues and liberalize trade in different sectors. The WTO also has a dispute settlement mechanism to
resolve trade disputes between member countries.

HISTORY:

The World Trade Organization (WTO) was established on January 1, 1995, following the conclusion of the
Uruguay Round of multilateral trade negotiations. The Uruguay Round, which spanned from 1986 to 1994, was a
significant milestone in the evolution of the global trading system. It aimed to expand the scope of the General Agreement
on Tariffs and Trade (GATT), which was the predecessor to the WTO.

The GATT, established in 1947, was a provisional agreement that aimed to promote international trade by
reducing barriers and tariffs among member countries. Over the years, the GATT went through several rounds of
negotiations, addressing various trade issues and expanding its membership.

The Uruguay Round negotiations resulted in the creation of the WTO as a permanent institution to replace the
GATT. The WTO’s establishment marked a significant shift in the global trading system, as it introduced a more
comprehensive framework for addressing trade-related matters. The WTO’s mandate expanded beyond the traditional
focus on goods to include services, intellectual property, and trade-related aspects of investment.

Since its inception, the WTO has played a crucial role in facilitating global trade. It provides a platform for member
countries to negotiate trade agreements, resolve trade disputes, and monitor national trade policies. The WTO operates
on the principles of non-discrimination, most-favored-nation treatment, and transparency.

MEMBERS:

It consists of 164 member countries as of February 2022. These countries come from diverse regions and have
different levels of economic development.

The first 30 members of the WTO include Afghanistan, Albania, Angola, Antigua and Barbuda, Argentina, Armenia,
Australia, Austria, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bolivia, Botswana, Brazil, Brunei Darussalam,
Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Canada, Central African Republic, Chad, Chile, and
China.

CURRENT NEWS AND PROGRAMS:

As of now, the World Trade Organization (WTO) is actively engaged in various news and programs. Here are
some of the recent developments:
  COVID-19 Response: The WTO has been involved in addressing the impact of the COVID-19 pandemic on global
trade. It has been working with member countries to ensure the flow of essential goods and medical supplies,
facilitate trade in vaccines, and coordinate efforts to minimize trade disruptions.
 Trade Negotiations: The WTO is involved in ongoing trade negotiations among member countries. These
negotiations cover various areas such as agriculture, services, and digital trade. The goal is to reach agreements
that promote fair and balanced trade and address emerging challenges in the global economy.
 Dispute Settlement: The WTO operates a dispute settlement system to resolve trade disputes among member
countries. It provides a forum for countries to settle their differences through consultations and, if necessary,
through adjudication by a panel of experts. The WTO continues to handle dispute cases and ensure the
enforcement of trade rules.
 Trade Facilitation: The WTO is actively promoting trade facilitation measures to simplify and streamline customs
procedures. This includes the implementation of the WTO Trade Facilitation Agreement, which aims to reduce
trade costs and enhance transparency and efficiency in cross-border trade.
 Sustainable Development: The WTO recognizes the importance of sustainable development and has been
working on various initiatives in this area. It promotes trade policies that support environmental sustainability,
social inclusiveness, and economic development. The WTO also engages in discussions on the relationship
between trade and the United Nations Sustainable Development Goals.

2. International Monetary Fund (IMF)

ABOUT:

The International Monetary Fund (IMF) is an international financial institution that plays a crucial role in the
global economy. Its primary objectives are to promote global monetary cooperation, secure financial stability, facilitate
international trade, and foster sustainable economic growth.

One of the key functions of the IMF is economic surveillance. It closely monitors the economic health of its
member countries, analyzing data, and conducting regular consultations. This surveillance helps to identify
vulnerabilities and risks, enabling the IMF to provide timely policy recommendations and guidance to member
countries. By assessing the economic conditions and potential risks, the IMF aims to prevent and mitigate financial
crises, ensuring the stability of the global financial system.

HISTORY:

The International Monetary Fund (IMF) was established in 1944 during the Bretton Woods Conference, which
took place in Bretton Woods, New Hampshire, United States. The conference aimed to design a post-World War II
international monetary system that would promote economic stability and prevent the recurrence of the economic crises
experienced during the Great Depression.

The IMF was created with the goal of fostering global monetary cooperation and providing financial assistance to
member countries facing balance of payments problems. Its primary objectives were to promote exchange rate stability,
facilitate international trade, and support economic growth and development.

In its early years, the IMF focused on managing the fixed exchange rate system that was established under the
Bretton Woods Agreement. Member countries agreed to peg their currencies to the U.S. dollar, which was backed by gold
at a fixed rate. The IMF played a key role in maintaining the stability of this system by monitoring exchange rates and
providing financial assistance to countries facing difficulties in maintaining their pegged exchange rates.

Over time, the global economic landscape changed, and the fixed exchange rate system eventually collapsed in
the early 1970s. This led to a shift in the IMF's focus towards flexible exchange rates and the promotion of
macroeconomic stability. The IMF began to emphasize the importance of sound fiscal and monetary policies, as well as
structural reforms, in achieving economic stability and sustainable growth.
 In the 1980s and 1990s, the IMF played a significant role in providing financial assistance to countries facing debt
crises and economic downturns. It implemented various lending programs, such as the Structural Adjustment Programs
(SAPs), which aimed to help countries implement economic reforms in exchange for financial support. These programs
often involved policy conditions that required countries to undertake measures such as fiscal austerity, deregulation, and
privatization.

In the late 1990s and early 2000s, the IMF faced criticism for its handling of several financial crises, including the
Asian financial crisis and the Russian financial crisis. Critics argued that the IMF's policy prescriptions and conditionality
measures had negative social and economic impacts on the affected countries.

In response to these criticisms, the IMF underwent reforms to improve its effectiveness and responsiveness. It
adopted a more flexible approach to lending and introduced new instruments and facilities to better address the diverse
needs of its member countries. The IMF also increased its focus on social and poverty-related issues, recognizing the
importance of inclusive growth and reducing inequality.

Today, the IMF continues to play a vital role in the global economy. It provides financial assistance and policy
advice to member countries, conducts economic surveillance, and promotes international cooperation on economic
issues. The IMF's work is guided by its mission to foster global economic stability, promote sustainable growth, and
reduce poverty around the world.

MEMBERS:

The International Monetary Fund (IMF) consists of a diverse group of member countries, representing various
regions and economies around the world. Among the 190 member countries, some notable members include the United
States, Japan, Germany, France, the United Kingdom, Italy, Canada, Australia, China, India, Russia, Brazil, South Korea,
Mexico, Saudi Arabia, Turkey, South Africa, Indonesia, Netherlands, Switzerland, Sweden, Belgium, Singapore, Poland,
Norway, United Arab Emirates, Argentina, Nigeria, Denmark, and Malaysia. These countries play a significant role in
shaping the policies and decisions of the IMF, contributing to global economic stability and development. It's important to
note that the list of member countries may change over time as new countries join or existing members withdraw from the
IMF.

CURRENT NEWS AND PROGRAMS:

A few recent news topics and programs related to the International Monetary Fund (IMF):

 Global Economic Outlook: The IMF regularly releases reports on the global economic outlook. In its latest update,
the IMF projected a stronger global economic recovery in 2021 and 2022, supported by fiscal stimulus measures
and vaccine distribution. However, it also highlighted the risks and uncertainties associated with the ongoing
COVID-19 pandemic.
 Special Drawing Rights (SDRs): The IMF has been discussing the allocation of additional SDRs, which are
international reserve assets. This allocation aims to provide liquidity support to member countries during the
pandemic. It would involve creating new SDRs and distributing them among IMF member countries.
 Debt Relief Initiatives: The IMF has been actively involved in debt relief initiatives for countries facing high levels
of debt. It has been working with other international organizations, such as the World Bank, to provide debt relief
and restructuring options to eligible countries, particularly those heavily impacted by the pandemic.

The International Monetary Fund (IMF) implements various programs to support its member countries. Here are
some notable programs:

 Stand-By Arrangements (SBA): SBAs are short-term programs that provide financial assistance and policy advice
to countries facing balance of payments problems. These programs aim to restore economic stability and promote
structural reforms.
 Extended Fund Facility (EFF): The EFF is a medium-term program that provides financial assistance to countries
with protracted balance of payments problems. It supports countries in implementing comprehensive economic
reforms to address underlying imbalances and promote sustainable growth.
 3. World Bank

ABOUT:

The World Bank is a prominent international financial institution that plays a crucial role in supporting the
development efforts of countries around the world. Its primary objective is to alleviate poverty and promote sustainable
economic growth in developing nations.

One of the key functions of the World Bank is to provide financial assistance to member countries in the form of
loans, grants, and credits. These funds are directed towards financing development projects and programs in various
sectors, including infrastructure, education, healthcare, agriculture, and environmental sustainability. By providing financial
resources, the World Bank helps countries invest in critical projects that stimulate economic growth, create employment
opportunities, and improve the quality of life for their citizens.

HISTORY:

The World Bank, officially known as the International Bank for Reconstruction and Development (IBRD), was
established in 1944 at the Bretton Woods Conference in New Hampshire, United States. The conference aimed to create
a post-World War II global financial system that would promote economic stability and development.

The primary goal of the World Bank was initially to provide financial assistance for the reconstruction of war-torn
Europe. However, its mandate soon expanded to include providing loans and grants to developing countries around the
world. The World Bank's mission is to reduce poverty and promote sustainable economic growth by providing financial
resources, policy advice, and technical expertise.

Over the years, the World Bank has evolved and grown in scope. In 1960, it established the International
Development Association (IDA), a concessional lending arm that provides interest-free loans and grants to the poorest
countries. The IDA focuses on supporting projects and programs that address the specific needs of these countries.

In addition to its lending activities, the World Bank also plays a crucial role in conducting research and analysis on
global development issues. It produces reports, studies, and data that inform policy discussions and help shape
development strategies. The World Bank's research and knowledge sharing efforts aim to generate evidence-based
solutions to tackle poverty, inequality, and other development challenges.

The World Bank Group, which includes the IBRD, IDA, and other affiliated institutions, has expanded its focus to
encompass a wide range of sectors. It supports projects in areas such as infrastructure development, education,
healthcare, agriculture, climate change mitigation, and social protection. The World Bank also promotes good governance,
anti-corruption measures, and inclusive growth strategies.

Throughout its history, the World Bank has faced criticism and challenges. Some argue that its policies and
lending practices have not always effectively addressed the root causes of poverty and inequality. Others have raised
concerns about the environmental and social impacts of some World Bank-funded projects. In response, the World Bank
has made efforts to improve transparency, accountability, and sustainability in its operations.

Overall, the World Bank remains a significant global institution dedicated to supporting the development efforts of
countries and addressing the complex challenges of poverty and sustainable development. It continues to adapt and
evolve to meet the changing needs of the world and strive towards its vision of a world free from poverty.

MEMBERS:

The World Bank is composed of two institutions: the International Bank for Reconstruction and Development
(IBRD) and the International Development Association (IDA). The IBRD has 189 member countries, while the IDA has 173
member countries. These member countries represent a wide range of nations from around the world, including both
developed and developing economies.
 The World Bank consists of a diverse membership of countries from around the world, and among its first 30
members are Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria,
Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and
Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, and
Cameroon. These countries play a crucial role in shaping the policies and strategies of the World Bank, contributing
capital and resources to support its mission of reducing poverty and promoting sustainable development. Each country's
participation is voluntary, allowing them to align their national interests and priorities with the goals of the World Bank.

CURRENT NEWS AND PROGRAMS:

 COVID-19 Response: The World Bank has been actively involved in supporting countries in their response to the
COVID-19 pandemic. It has provided financial assistance, technical expertise, and policy advice to help countries
strengthen their healthcare systems, protect the most vulnerable populations, and mitigate the socio-economic
impacts of the pandemic.
 Climate Change and Sustainable Development: The World Bank is committed to addressing climate change and
promoting sustainable development. It supports countries in implementing climate-friendly policies, investing in
renewable energy, and building resilience to climate-related risks. The bank also provides funding and expertise
for projects aimed at reducing greenhouse gas emissions and promoting sustainable development practices.
 Poverty Reduction and Social Inclusion: The World Bank works towards reducing poverty and promoting social
inclusion by supporting programs that improve access to education, healthcare, and basic services for the most
disadvantaged communities. It also helps countries develop social safety nets and implement policies that
promote inclusive growth and reduce inequality.
 Infrastructure Development: The World Bank plays a crucial role in financing infrastructure projects in developing
countries. It supports the construction of roads, bridges, ports, and other critical infrastructure, aiming to enhance
connectivity, promote economic growth, and create job opportunities.
 Education and Skills Development: The World Bank recognizes the importance of education and skills
development in driving economic growth and reducing poverty. It supports countries in improving the quality of
education, expanding access to education for all, and promoting skills training programs to equip individuals with
the necessary skills for the job market.

4. United Nations (UN)

ABOUT:

The United Nations (UN) is an international organization founded in 1945 with the aim of promoting peace,
security, and cooperation among its member countries. It serves as a platform for countries to come together, discuss
global issues, and work towards common goals.

HISTORY:

The United Nations (UN) was established on October 24, 1945, in the aftermath of World War II. The organization
was formed with the primary goal of preventing future conflicts and promoting international cooperation and peace.

The roots of the UN can be traced back to the League of Nations, which was created after World War I but
ultimately failed to prevent the outbreak of World War II. The failure of the League of Nations highlighted the need for a
more effective international organization to address global issues and maintain peace.

The idea for the UN began to take shape during the early years of World War II. In 1941, representatives from 26
nations gathered in Washington, D.C., to sign the Declaration of the United Nations, which outlined their commitment to
fighting against the Axis powers. This declaration laid the groundwork for the formation of the UN.

The UN Charter, the organization's founding document, was drafted during the United Nations Conference on
International Organization held in San Francisco in 1945. Delegates from 50 countries participated in the conference and
worked together to create a framework for the new international organization.
 On June 26, 1945, the UN Charter was signed by representatives of 50 countries, officially establishing the United
Nations. The Charter outlined the purposes and principles of the organization, including the promotion of peace, respect
for human rights, and cooperation among member states.

The UN officially came into existence on October 24, 1945, when the Charter was ratified by the majority of its
founding members. The first meeting of the General Assembly, the main deliberative body of the UN, took place in London
in January 1946.

Throughout its history, the UN has played a significant role in addressing various global challenges. It has worked
to prevent conflicts, mediate disputes, promote human rights, foster sustainable development, and provide humanitarian
assistance to those in need.

Over the years, the UN has grown in membership, with the number of member states increasing from the original
51 to 193 today. The organization has expanded its focus to include a wide range of issues, such as climate change,
poverty reduction, gender equality, and public health.

Despite facing challenges and limitations, the United Nations remains a vital platform for international cooperation
and diplomacy. It continues to strive for its founding principles of maintaining peace, promoting human rights, and
fostering global development.

MEMBERS:

As of now, there are 193 member states in the United Nations (UN). Each member state has an equal voice and
voting rights in the General Assembly, the main deliberative body of the UN.

The first 30 member states of the United Nations (UN) are Afghanistan, Albania, Algeria, Andorra, Angola, Antigua
and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus,
Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso,
Burundi, and Cabo Verde. These countries represent a diverse range of regions, cultures, and political systems, coming
together to collaborate and address global challenges through the UN platform.

CURRENT NEWS AND PROGRAMS:

Some recent news highlights about the United Nations (UN):

 Climate Action Summit: In September 2019, the UN held a Climate Action Summit in New York to address the
urgent need for action on climate change. The summit brought together world leaders, activists, and young people
to discuss and accelerate efforts to reduce greenhouse gas emissions and mitigate the impacts of climate
change.
 COVID-19 Response: The UN has been actively involved in the global response to the COVID-19 pandemic. It
has been coordinating efforts to ensure equitable access to vaccines, supporting healthcare systems, and
providing humanitarian assistance to vulnerable populations affected by the pandemic.
 Sustainable Development Goals (SDGs): The UN continues to work towards achieving the SDGs by 2030. Efforts
are being made to track progress, mobilize resources, and promote partnerships to address poverty, inequality,
climate change, and other global challenges.

Here are some of the key programs and initiatives of the United Nations:

 Sustainable Development Goals (SDGs): The UN has set 17 SDGs to address global challenges such as poverty,
inequality, climate change, and environmental degradation. The goals aim to achieve a more sustainable and
equitable world by 2030.
 United Nations Development Programme (UNDP): The UNDP works to eradicate poverty, reduce inequalities, and
build resilience in countries around the world. It provides support for sustainable development projects, promotes
good governance, and helps countries achieve the SDGs.
 United Nations Children's Fund (UNICEF): UNICEF focuses on the well-being and rights of children worldwide. It
provides assistance in areas such as education, health, nutrition, and child protection, aiming to ensure that every
child has a fair chance in life.
5. Group of Twenty (G20)

ABOUT:

The Group of Twenty, commonly known as the G20, is an international forum consisting of 19 countries and the
European Union. It was established in 1999 to bring together the world's major economies to discuss and coordinate on
global economic issues. The G20 member countries represent around 80% of the world's GDP and two-thirds of its
population.

The primary purpose of the G20 is to promote international financial stability, sustainable economic growth, and
global cooperation. The forum provides a platform for leaders to discuss and address pressing global economic
challenges, such as financial crises, trade issues, investment, and development.

The G20 meetings involve discussions on a wide range of topics, including macroeconomic policies, financial
regulation, trade, employment, energy, climate change, and development. The member countries work towards
consensus on these issues and strive to develop policies that benefit the global economy as a whole.

HISTORY:

The Group of Twenty, or G20, has a history that dates back to the late 1990s. Here's a brief overview of its
background and evolution:

 Origins: The G20 was established in 1999 in response to the financial crises that occurred in the late 1990s. It
was initially formed as a forum for finance ministers and central bank governors from 19 countries and the
European Union to discuss and coordinate on global economic issues.
 Financial Crises: The formation of the G20 was prompted by the Asian financial crisis in 1997-1998 and the
Russian financial crisis in 1998. These crises highlighted the need for enhanced global financial stability and
coordination among major economies.
 Expansion to Leaders' Summit: In 2008, during the global financial crisis, the G20 was elevated to a leaders'
summit level. This allowed heads of state or government to participate in discussions and decision-making,
recognizing the importance of high-level engagement in addressing global economic challenges.
 Global Financial Crisis Response: During the financial crisis, the G20 played a crucial role in coordinating a global
response. Emergency summits were held in 2008 and 2009, where leaders developed a coordinated approach to
stabilize financial markets, stimulate economic growth, and reform the international financial system.
 Policy Coordination: Since the global financial crisis, the G20 has focused on promoting policy coordination
among its member countries to address global economic challenges. Discussions cover a wide range of topics,
including fiscal and monetary policies, trade, investment, and structural reforms.
 Broadening of Agenda: Over time, the G20 has expanded its agenda to include other pressing global issues.
Climate change, sustainable development, energy, digital economy, health, and gender equality are now part of
the discussions. This reflects the recognition that economic challenges are interconnected with social and
environmental issues.
 Annual Summits and Engagement Groups: The G20 holds annual summits where leaders from member countries
gather to discuss and make decisions on key global issues. In addition, the G20 engages with various
stakeholders through engagement groups, including business leaders, civil society organizations, and think tanks.

MEMBERS:

The Group of Twenty (G20) is composed of 19 countries and the European Union. The member countries include
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi
Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. These nations represent a diverse
range of economies from various regions around the world. The G20 serves as a platform for these countries to come
together and discuss global economic issues, policy coordination, and address pressing challenges. By fostering dialogue
and cooperation among its members, the G20 aims to promote stability, sustainable growth, and development on a global
scale.

CURRENT NEWS AND PROGRAMS:

 COVID-19 Response: The G20 has been actively involved in coordinating global efforts to address the COVID-19
pandemic. This includes discussions on vaccine distribution, economic recovery, and support for developing
countries.
 Climate Change: Climate change has been a key focus for the G20. The group has been working towards
implementing the Paris Agreement and promoting sustainable development. The G20 Summit in 2021 highlighted
the importance of climate action and the transition to clean energy.
 Economic Cooperation: The G20 plays a crucial role in promoting economic cooperation and stability. Member
countries discuss policies to stimulate growth, address inequalities, and promote inclusive economic
development.
 Financial Regulation: The G20 has been instrumental in implementing financial regulations to prevent future
financial crises. This includes initiatives such as the Basel III framework for banking supervision and the regulation
of shadow banking.
 Infrastructure Investment: The G20 has been working on promoting infrastructure investment to support economic
growth. This includes initiatives like the Global Infrastructure Hub and discussions on sustainable infrastructure
financing.
 Digital Economy: The G20 recognizes the importance of the digital economy and has been discussing issues
such as digital trade, data governance, and cybersecurity.