Intergovernmental Organisations (IGOs) Revision Notes for Edexcel A-Level Geography

Intergovernmental Organisations (IGOs)

IMF	To stabilise global currencies after the 1930s depression and WW2 ● Location: Washington DC ● Leader nationality: EU ● Founded in 1944 at Bretton Woods ● Initially 44 countries joined ● By 2016, 190 members (not all equal as individual voting rights are proportional to the amounts that they have invested in the fund ○ 8 individual countries control 47% of the votes ○ Top 10 members control 60% of the IMFs total voting rights
WTO	To free up global trade and reduce trade barriers by negotiating free-trade agreements ● Location: Switzerland ● Leader nationality: Nigeria ● Founded in 1995 ● 164 members (2016) ● Operates on a one country one vote system
World Bank	To finance development and addresses the effects of natural disasters ● Location: Washington DC ● Leader nationality: US ● Founded in 1944 at Bretton Woods ● Members = 189 ● Over 40% of the votes lie in the hands of the 8 largest contributors ● In 1970-80 gained a bad rep for financing projects which were environmentally damaging or so costly borrowing countries couldn't repay their loans
WEF	Promote globalisation and free trade ● Location: Switzerland ● Leader(s): 24 EU nations ● Founded in 1971