San Jose Business Daily

Do the IMF and WTO favor countertrade?

I'm reading through my notes for my test tomorrow and they're a bit unclear. I don't understand if the IMF and WTO support or do not support countertrade. Or is it just the United Nations who are somewhat neutral toward it? Sorry it's probably a stupid question, but I appreciate any input. As I said, this guy has weird notes, but here's his definition of modern countertrade. Modern countertrade - "those transactions which have as a basic characteristic a linkage, legal or otherwise, between exports and imports of goods or services in addition to, or in place of, financial settlements." haha, I'm gonna have to find the "definition for dummies" of that to figure that one out.

Public Comments

1. clarify what countertrade is please
2. The IMF WTO and Wold Bank mainly just prefer looting 3rd world countries.