IMF and World Bank Flashcards
What is the IMF?
a fund which acts as a lender of the last resort, disbursing its foreign exchange reserves for short periods to any member in difficulties
What % of the voting share does the USA have (IMF)?
17%
What type of countries does the IMF attempt to help?
countries in economic turmoil
What did the eurozone crisis of 2010 cause for the IMF?
hefty bailouts (especially Greece and Ireland)
What does the IMF provide?
regular economic health checks, education and training
What does the IMF do in order for a country to retain its economic stability?
cuts social policy and stuff that aids social development
What is the World Bank?
it channels loans and grants and advises low and middle income countries
Who is the World Bank owned by?
the governments of its 189 member states
How many member states are part of the World Bank?
189
What does the World Bank fund?
specific infrastructure projects
Which of its agencies focuses on the worlds poorest nations?
International Development Association
What goals have the World Bank created with the aim to reduce the key indicators of poverty by 2030 (originally 2015)?
MDGs and SDGs
