International Organizations

The United Nations (UN) is the meeting place for almost all of the world’s nation states – it’s basically a forum for countries to talk, make decisions and take action on how to deal with global issues like war, climate change and world poverty.

The International Monetary Fund (IMF) is basically the world’s big piggy bank. 189 countries pay into it, and if they find themselves in need of quick cash, the money can be used to try and avert economic catastrophe.

The World Bank provides loans to developing countries to help tackle poverty and more recently inequality (which for some reason it calls “shared prosperity”). They have two aims for the global economy by 2030: to end extreme poverty and foster growth in the incomes of the bottom 40% for every country.

The World Trade Organization (WTO) is the institution responsible for managing global trade negotiations and settling trade disputes between countries. According to the WTO, their purpose is to “to help trade flow as freely as possible — so long as there are no undesirable side effects”. The WTO has 164 members (as of 2017).

The G20 (Group of 20) is an annual meeting for the leaders of the world’s biggest economies (technically 19 countries plus the EU). Together these countries account for 85% of the world economy and two-thirds of its population.