ECONOMIC COMMISSION FOR AFRICA (E.C.A.)
ECONOMIC COMMISSION FOR AFRICA (E.C.A.) – This is an arm of the United Nations Economic and social council. It was established on 29th April 1958.
Economics
ATTENDANT PROBLEMS OF IMF
The instability of some countries to pay back the money borrowed. Some of the member nations have no say in the organization’s funds activities. It also has the problem of liquidity The voting rights of the organization are controlled by the developed nations as against the developing countries who are placed at a greater disadvantage. …
ACHIEVEMENT OF IMF
Granting of credits to relieve countries having balance of payments problems. Has helped in stabilizing foreign exchange rate. Has helped in promoting free international trade. Has helped in granting aids to non-oil producing countries.
OBJECTIVES OF IMF
To promote co-operation in monetary matters among member countries. To provide short-term credit to member countries having balance of payment problems. To promote exchange rate stability among member countries. To establish an avenue for facilitating easy payments of export goods and services. To encourage and promote free trade among member Countries. To promote a high …
INTERNATIONAL MONETARY FUND (IMF)
INTERNATIONAL MONETARY FUND (IMF) – This organization was established on the 17th day of December 1945 with its headquarters at Washington D.C., U.S.A. It has a total membership of 138 nations.
PROBLEMS OF ECOWAS
Political instability and constant military coup among most West African countries. Differences in currency and language. Population differences and development. Lack of manpower Lack of finance. Ratification and implementation of decisions Low level of trade among West African countries Fear of domination of smaller countries by bigger countries.