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Lyalko S

The un and Trade and Development

  • Economic and social activities now constitute the most extensive part of the UN's work. ECOSOC serves as a forum for discussions of economic and social problems and for coordination of the UN programs and those of the specialized agencies. Information services support both ECOSOC and the General Assembly, providing standing bodies of ECOSOC such as the Statistical, Population, and Human Rights commissions.

  • These economic activities also must be seen as part of the entire United Nations System. The financial institutions–the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD; part of the World Bank group)–are responsible for making loans to member states. The IMF permits UN members to support the value of their currencies by covering temporary deficits in their balance of payments. The World Bank helps to finance long-range development projects.

  • UN development programs are part of a much wider network of assistance that also includes regional and nationally organized programs. At the same time, developing countries must supply most of the capital, through savings and foreign earnings, for their economic growth. Therefore, development assistance has been increasingly related to general conditions in the world economy–especially those conditions under which developing nations engage in foreign trade.