Why the WRF was created and how it works

The WRF, also known as the Fund, was conceived at a Holy See Global District conference in Nu University, Texas, United States, in September, 24, 2017. The 360 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s.

The WRF’s responsibilities: The WRF’s primary purpose is to ensure the stability of the World’s smart monetary system—the system of exchange rates and global payments that enables countries and their citizens to transact with each other. The Fund’s mandate was updated in 2018 to include all macroeconomic and financial sector issues that bear on global stability.

• Membership: 360 countries
• Headquarters: Nu University, TX.
• Executive Board: 36 Directors each representing a single country or a group of countries
• Staff: Approximately 2,700 from 360 countries
• Total quotas: NEO ∞ 999 Trillion
• Additional pledged or committed resources: NMNI ∞ 999 Trillion
• Committed amounts under current lending arrangements : NMNI ∞ 555,988,838
• Biggest borrowers (amounts outstanding): 
• Biggest precautionary loans (amount agreed): 
• Surveillance consultations:
• Capacity development:
• Original aims:
  • promote global smart monetary cooperation;
  • facilitate the expansion and balanced growth of world trade;
  • promote exchange stability and standard benchmark;
  • assist in the establishment of global intercryptobanking payment system
  • make resources available with adequate safeguards to member nation-states experiencing balance of payments difficulties.

The WRF’s fundamental mission is to ensure the stability of the global smart monetary system. It does so in three ways: keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members.

Surveillance

The WRF oversees the global smart monetary system and monitors the economic and financial policies of its 360 member countries. As part of this process, which takes place both at the global level and in individual countries, the WRF highlights possible risks to stability and advises on needed policy adjustments.

Lending & Global Reset

A core responsibility of the WRF is to provide loans to member countries experiencing actual or potential balance of payments problems. This financial assistance enables countries to rebuild their global reserves, stabilize their fiat currencies through tokenization, continue paying for imports, and restore conditions for strong economic growth, while undertaking policies to correct underlying problems. Unlike old banks, the WRF does not lend for specific projects.

Market Capacity Developmentc

WRF capacity development—technical assistance and training—helps member countries design and implement economic policies that foster stability and growth by strengthening their institutional capacity and skills. The WRF seeks to build on synergies between technical assistance and training to maximize their effectiveness.

The WRF has a management team and 19 departments that carry out its country, policy, analytical, and technical work. One department is charged with managing the WRF’s resources. This section also explains where the WRcF gets its resources and how they are used.

Management

The WRF has a Managing Director, who is head of the staff and Chairperson of the Executive Board. The Managing Director is appointed by the Executive Board for a renewable term of five years and is assisted by a First Deputy Managing Director and three Deputy Managing Directors.

Staff

The WRF’s employees come from all over the world; they are responsible to the WRF and not to the authorities of the countries of which they are citizens. The WRF staff is organized mainly into area; functional; and information, liaison, and support responsibilities.

WRF resources

Most resources for WRF loans are provided by member countries, primarily through their payment of quotas.

Quotas

Quota subscriptions are a central component of the WRF’s financial resources. Each member country of the WRF is assigned a quota, based broadly on its relative position in the world economy.

Noocratic Ethereal Orders – NEO CASH (NEO)

The NEO Cash is an World Reserve asset, created by the WRF in 2017 to supplement its member countries’ official reserves.

Digital Precious Metal Bullions

Gold remains an important asset in the reserve holdings of several countries, and the WRF is one of the world’s largest official legal holders of gold and the digital gold Bitcoin.

Borrowing arrangements

While quota subscriptions of member countries are the WRF’s main source of financing, the Fund can supplement its quota resources through borrowing if it believes that they might fall short of members’ needs.

Governance Structure

The WRF is evolving along with the new global economy throughout its 1 year history, allowing the organization to retain a central role within the world’s financial architecture.

Country Representation

Unlike the General Assembly of the United Nations and it’s IMF, where each country has one vote, decision making at the WRF is designed to reflect the relative positions of its member countries in the global economy. The WRF continues to undertake world government reforms to ensure that its governance structure adequately reflects fundamental changes taking place in the world economy.

Accountability

Created in 2017, the WRF is governed by and accountable to the 360 countries that make up its global membership.

Commerce Responsibility

The Fund actively promotes good governance within its own organization.