Global Governance

Question 1

What is the IMF

Answer 1

An organisation of 188 countries working to raise money for financial stability, facilitate international trade, high employment, economic growth, and reduce poverty

Question 2

What is the world bank

Answer 2

A financial institution proving loans to developing countries for capital programs. Goal to reduce poverty

Question 3

What is the WTO

Answer 3

Deals with rules of trade between countries. Aims to ensure trade flows as freely as possible. Aim to prevent exploitation of producers of goods and services

Question 4

Positives and negatives of the IMF

Answer 4

+prevent financial system collapsing
+bail out countries on brink of economic crisis
-loans provided may have high interest rates
- dominated by developed world

Question 5

Positives and negatives of the world bank

Answer 5

+Loans and financial assistance
+Help avoid corruption
-Dominated by developed countries
- takes too long

Question 6

Positives and negatives of WTO

Answer 6

+Reduced trade restrictions
+protects international trade
-biased towards developed countries
-fail to confront issues eg child labour