IMF, WTO, World Bank

Question 1

IMF

Answer 1

What does it do?
Maintains global financial stability by giving loans to countries

Successes
Promotes economic growth + debt relief (HIPC)
-Gave $88b to Argentina to help it’s failing economy

Failures
Loans come with conditions e.g. privatisation of industry, less money for gov’s

Question 2

World Bank

Answer 2

What does it do?
Funds development programmes in LIC’s. Gives humanitarian aid

Successes
Mission 300 which improves electricity access in Africa

Failures
Programmes may include child labour

Question 3

WTO

Answer 3

What does it do?
Promotes free trade + trade liberalisation

Successes
Creates new links between countries
-Vietnam removed all quotas with Europe in 2015

Failures
Pakistan’s fishermen - Opened up water to TNCs who overfished

Ghanaian farmers - Stopped subsidising so couldn’t compete with American imports