IGOs

Question 1

Name 3 IGOs

Answer 1

World Bank
World Trade Organisation
International Monetary Fund

Question 2

What are the 3 values IGOs pursue to accelerate globalisation?

Answer 2

Privatisation
Free trade
Deregulation

Question 3

What is privatisation?

Answer 3

The transfer of a business or service from public to private ownership

Question 4

What are 3 positives of privatisation?

Answer 4

Increase quality of a service
Increase efficiency
Increase competition

Question 5

What are 2 negatives of privatisation?

Answer 5

Increased cost for consumers

Government misses out on potential profits

Question 6

What is free trade?

Answer 6

A trade policy that does not restrict imports and exports

Question 7

What is deregulation?

Answer 7

The reduction of government regulations in trade. It allows trade to operate more freely.

Question 8

What is the role of the World Bank?

Answer 8

To provide loans to help rebuild economies

Alleviate poverty

Question 9

The World Bank encourages income growth for the bottom ___% of every country.

Answer 9

40%

Question 10

How does the World Bank encourage income growth?

Answer 10

By providing low-interest loans, grants and technical assistance

Question 11

What is the role of the WTO?

Answer 11

To reduce tariffs and trade barriers

Question 12

When was the WTO established?

Answer 12

1995

Question 13

What does the World Bank require recipients to do?

Answer 13

Adopt liberalisation trade policies and to open up to FDI

Question 14

What is the role of the IMF?

Answer 14

Maintains a stable international financial system and promotes globalisation and free trade

Question 15

What is an example of a country that received a loan from the IMF and in what year?

Answer 15

Greece, 2008

Question 16

What must recipients of the IMF do?

Answer 16

Adopt trade liberalisation programmes and open up the economy to free trade and FDI