volatile exchange rates [that] were perceived to be raising the costs and uncertainties of trade and discouraging governments from abandoning quantitative trade restrictions and lowering tariffs; large and persistent current account imbalances that were generating protectionist pressures; low and volatile commodity prices; and debt problems of developing countries, particularly in Latin America.
Id. Annex 1, para. 3 (citation omitted). In the latter case, the concern was that [i]ndebted developing countries were struggling to meet their financial obligations at the same time that market access barriers in their main trading partners (and main creditors) were impeding their ability to earn foreign exchange. Id. Following the directive in the Ministerial Declaration, the WTO signed formal cooperation agreements with the IMF and World Bank in 1996, which provide for closer cooperation . . . through staff participation in relevant official meetings, exchange of data, reports and documents, and regular staff contacts. Id. para. 12. This cooperation has also included high-level contacts. For example, in May 2003, the heads of the IMF and World Bank participated in a WTO General Council meeting on policy coherence. Press Release, WTO, No. 341, Coherence: Joint Statement (May 13, 2003), http://www.wto.org/english/news_e/pres03_e/pr341_e.htm. The WTO has also sought greater cooperation with the regional development banks. See, e.g., Press Release, WTO, No. 292r1, Director-General Mike Moore Convenes First Informal Dialogue with Heads of Regional Development Banks on the Implementation of the Doha Development Agenda (May 3, 2002), http://www.wto.org/english/news_e/pres02_e/pr292_e.htm.
By including trade policy issues in the PRSP and [United Nations Development Assistance Framework]instruments that influence assistance levels received by LDCscountries may be induced into integrating their economies within the world economy. For example, the World Banks level of country assistance would be based on the development strategies defined in the PRSP. Increased efforts by the LDCs to integrate into the world economy would be rewarded by access to a higher level of assistance.
WTO Sub-Committee on Least-Developed Countries, supra note 69, at 139 (emphasis added).