Global Governance

Question 1

What are the functions of the security council?

Answer 1

• Can authorise the use of force to maintain or restore peace and security
• Call upon the UN to apply non military methods
• dispatch military observers or peacekeepers

Question 2

What is ECOSOC ?(Economic and Social Council)

Answer 2

• A central forum for discussing international economic and social issues and formulating policy recommendations
• promotion of human rights
• Fostering international cooperation for development

Question 3

What are Washington consensus policies?

Answer 3

1. Fiscal discipline
2. Tax reform
3. Financial liberalisation
4. Free trade
5. Privatisation

Question 4

What is the purpose of the IMF?

Answer 4

• Ensure stability of the International Monetary Fund system (exchange rates, and ability for countries to transact with one another)
• Promote sustainable growth and increased living standards

Question 5

What role does the IMF play in economic global governance?

Answer 5

1. Surveillance-to maintain stability in the world economy and prevent crisis.
2. Financial assistance- provides member countries the breathing room to correct balance payments (a lender of last resorts)
3. Technical assistance - it provides training and technical assistance to advice economically on the policies of sovereign states.

Question 6

What are the two main organisations of the World Bank and what do they do?

Answer 6

The international bank for reconstruction focuses on middle income and creditworthy poor countries

The international development association focuses on the poorest countries in the world.

Question 7

Where does the international bank for reconstruction get its fund from ?

Answer 7

Funds are raised on the worlds financial market and has become and established borrower since its first bond.