International economic institutions such as the International Monetary Fund, the World Trade Organization and the World Health Organization improve the economic situation of developing countries . International institutions as such govern globalization and the institutions that would enforce the rules regarding international trade and identify violators. These rules are then negotiated by States in which they generally formalize international agreements embodied in organizations. Developing countries would be more supportive of these institutions adapting to such economic changes rather than struggling to survive without them. Say no to plagiarism. Get a tailor-made essay on "Why violent video games should not be banned"? Get the original essay The International Monetary Fund is represented across developing countries as a means of insurance for governments against the possibility of economic crisis. This means of assurance will likely provide a means of security cover so that the arrangement can first stabilize a country in which it is facing a balance of payments crisis and therefore promote growth and the ultimate objective of reduction of the form of poverty. Kenneth Rogoff describes the IMF as follows: “Critics must understand that developing country governments do not seek financial assistance from the IMF when the sun is shining; they come when they are already facing serious financial difficulties.” This implies that when a developing country faces financial difficulties, it is because the government is not promoting a fairly good approach to management. The IMF creates an opportunity for these developing countries to ask for help in that when economies are in difficulty, the fund will be able to step in where private lenders would not dare to pursue and will offer in addition to these countries rather unknown rates. For example, South Korea and Thailand faced a prolonged free fall in the value of their currencies in 1997, which, thanks to the IMF, ended up being a less damaging outcome than expected. The International Monetary Fund is not only a way for developing countries to get help on how to deal with a financial crisis, but also to heed their ongoing advice to try to prevent countries in development find themselves in difficulty. Many believe that the IMF was fully responsible when it came to advising on international capital movements. Critics believe that the IMF is responsible for implanting this idea in Asia regarding the capital flows that led to the financial crisis. “In the months before the collapse of the Thai currency in 1997, IMF reports on the Thai economy described in stark terms the risks of liberalizing capital flows while keeping the national currency at a low level. fixed against the US dollar. The authorities did not listen, still hoping that Bangkok would become a financial center like Singapore.” The fund provides a key exchange of ideas and best practices for developing countries that will ensure that domestic production grows and prospers economically. The World Trade Organization is “a principal body governing trade, serving as a forum for negotiation, arbiter and monitor.” implementation of trade agreements” as described by James McBride. The World Trade Organization has helped reduce global barriers that generally prevent production.