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What economic institutions do the following initials stand for? (i) IMF (ii) WTO - Leaving Cert Economics - Question 1 - 2010
Question 1
What economic institutions do the following initials stand for? (i) IMF (ii) WTO
Worked Solution & Example Answer:What economic institutions do the following initials stand for? (i) IMF (ii) WTO - Leaving Cert Economics - Question 1 - 2010
Step 1
What does IMF stand for?
Answer
The initials IMF stand for International Monetary Fund. The International Monetary Fund is an organization that aims to promote global economic stability, facilitate international trade, and reduce poverty around the world. It provides financial assistance and advice to member countries in economic distress, helping them stabilize their economies and restore growth.
Step 2
What does WTO stand for?
Answer
The initials WTO stand for World Trade Organisation. The World Trade Organisation is an intergovernmental organization that regulates international trade. Its primary purpose is to ensure that trade flows as smoothly, predictably, and freely as possible. The WTO provides a forum for negotiating trade agreements and resolving trade disputes between nations.