GLOBAL INSTITUTIONS

At the G20 Summits many International Institutions are invited to attend. These are the leaders of the International Monetary Fund, the World Bank, the Financial Stability Board, The World Trade Organisation, the Basel Committee on Banking Supervision, the Organisation for Economic Co-operation and Development, the United Nations and many more.

The International Monetary Fund.  (IMF)

The IMF and the World Bank are the two largest public lenders. The IMF is to become the world currency bank. Under this scheme the IMF would be charged with regulating a new global currency to be used in world trade, including the energy sector.

Collaborating with the World Bank, the IMF would likewise use this new currency for international loans and debt obligations. National and regional currencies would still exist, at least for the interim, but values would react and adjust according to the new global benchmarks.

The Financial Stability Board. (FSB)

They have been commissioned to establish Principles and Standards for the world`s Financial Institutions. They are being implemented in different countries, and followed up by a monitoring process with peer reviews.

The World Trade Organisation. (WTO)

The WTO establishes the rules for the trading of goods and services via a globally organised set of standards.

There are so many International Institutions but really no overriding Body to coordinate their activities. This will come about after the G20 has become a legal institution and then it can empower a group to be its Executive Body.