IMF

Question 1

How are voting proportions determined in the IMF?

Answer 1

Each state receives proportionate votes comparable to their contributions to the IMF.

Question 2

IMF Conditionality

Answer 2

The IMF requires a set of conditions be met before the loans are provided. Most often involves austerity measures.

Question 3

IMF’s Impact on Sovereignty.

Answer 3

The ability of states to adapt to new economic changes is restricted.

Question 4

IMF’s Impact on Globalisation.

Answer 4

The IMF has increased the interdependence between states because they have removed trade barriers between states and provided less devoloped countries with loans to expand their ability to access global markets.

Question 5

Criticisms of the IMF. (3)

Answer 5

1. Has required reforms that reduced the S.O.L in countries ( increased GST)
2. Lacks transparency ( US puppet?)
3. Often involves the removal of subsidies (unpopular + punished poorer individuals)

Question 6

IMF’s response to COVID. ( Emergency Relief)

Answer 6

Doubled funds available to states via. Rapid Credit Facility. T/f approved loans to 80 countries.

Question 7

IMF’s response to COVID. (Debt Relief)

Answer 7

The IMF helped negotiated debt relief with 29 states and provided forgiveness on IMF loans.

Question 8

IMF’s response to COVID. (Developing Capacity)

Answer 8

Helped 160 states to improve cash management, cybersecurity and financial advice.