1. The International Monetary Fund, whose English name is International Monetary Fund, or IMF for short, is one of the specialized agencies of the United Nations. It was established on December 27, 1945, and began work on March 1, 1947. It is headquartered in Washington. There are 148 member states (1984).
The purpose of the organization: to stabilize international exchange rates, eliminate foreign exchange controls that hinder world trade, promote international cooperation on currency issues, and solve the foreign exchange funding needs of member countries' temporary balance of payments deficits by providing short-term loans.
The organization's funds mainly come from the shares paid by each member country. The main right of a member state is the right to withdraw, that is, the right to borrow foreign exchange in accordance with a certain proportion of the share paid. In 1969, the organization created a currency (accounting) unit called the "Special Drawing Rights", which is distributed in proportion to the member states' shares as a supplement to the means of international circulation. The special drawing rights of member states can be used as currency reserves or used to purchase foreign exchange from other member states to solve their country's international balance of payments deficit. Member countries are obliged to provide economic information and accept the organization's supervision in terms of foreign exchange policy and management.
The highest authority of the International Monetary Fund is the Board of Governors, which is composed of one chairperson and one deputy director from each member country. The body that handles day-to-day business is the executive board, which consists of 22 executive directors, five of whom are appointed by the five largest countries (Britain, the United States, France, Germany, and Japan). The President is elected by the Executive Board and is responsible for the operational work of the Fund. China is one of the founding countries of the International Monetary Fund. China's representation rights were restored on April 17, 1980. Since 1980, Chinese representatives have participated in the annual meetings of the International Monetary Fund and the World Bank.
2. World Bank Group. The World Bank is not a "bank" in the general sense. It is one of the specialized agencies of the United Nations with 184 member countries. These countries are jointly responsible for the raising and use of World Bank funds. The World Bank is working with the entire development community to focus its work on achieving the Millennium Development Goals agreed by United Nations member states in 2000 and on sustainable poverty reduction. The World Bank provides low- and interest-free loans or grants to countries that are unable to enter international markets or have poor access to international markets.
The name "World Bank" has been used to refer to the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). These institutions jointly provide low-interest loans, interest-free credit and grants to developing countries.
Approximately 10,000 development professionals work at the World Bank’s headquarters in Washington, D.C., and in its 109 country offices.
In addition to the International Bank for Reconstruction and Development and the International Development Association, the World Bank Group has three other institutions. The International Finance Corporation (IFC) promotes private sector development by supporting high-risk sectors and countries. The Multilateral Investment Guarantee Agency (MIGA) provides political risk insurance (guarantees) to investors and lenders in developing countries. The International Center for Settlement of Investment Disputes (ICSID) resolves investment disputes between foreign investors and host countries.
3. Bank for International Settlements.
The original purpose of establishment: to deal with the distribution of German reparations after World War I.
It is currently a financial institution that handles central bank business.
Purpose: To promote cooperation among central banks of various countries. ?
Main functions: Assist central banks of various countries in managing foreign exchange reserves, provide investment services and liquidity to central banks of various countries, and serve as agents and principals to provide assistance in the implementation of international financial loan agreements, etc.
4. Asian Development Bank. The Asian Development Bank is an important intergovernmental international financial organization in the Asia-Pacific region. It aims to promote socio-economic development and cooperation in the Asia-Pacific region and provides funds, technology and management experience to developing members in the Asia-Pacific region. It is jointly funded and established by member states or regional governments and is not for profit.
ADB was established on December 19, 1966 and is headquartered in Manila, the capital of the Philippines.
ADB currently has 57 members, including 41 members from the region and 16 members from outside the region. ADB's organizational structure consists of the Board of Governors, the Board of Directors, and the ADB Administration.