Intergovernmental organisations Flashcards
What are IGOs?
An entity created by treaty, involving two or more nations, to work in good faith, on issues of common interest
What are some examples of important IGOs?
WB= world bank
IMF= international monetary fund
WTO= World trade organisation
OECD= organisation for economic cooperation development
What did governments do after ww2 to prevent future wars?
created an economic system with greater cooperation
What is the Bretton woods conference?
a meeting in 1944 where the rules on IGOs were created
What is Bretton wood thought to?
First point of political globalisation
What do IGOs cause an increase in?
global trade
What is the aim of OECD?
improve economic & social wellbeing of people world-wide through ‘improvement policies’
What is another name for improvement policies?
SAPs (structural adjustment policies)
Who are IGOs mainly controlled by?
western countries (predominantly USA)
Who are usually the most negatively affected by SAPs?
the poor
What is Cote d’lvoire
the ivory coast
Where is the Ivory coast?
sits in Western Africa
What type of economy is the Ivory coast?
An LIC
but has a high income for its region
what is the GDP per capita in the Ivory coast?
$1014
What is the Ivory coast the biggest exporter of?
coco beans
Why did the IMF deprive the Ivory coast of aid?
deprived until 2013 when it government was forced to set up democratic elections (good adjustment) also forced to have ‘economic reforms’
How much debt was written off from the Ivory coast?
$4billion
What was the debt of Ivory coast swapped for?
it had to reform its energy sector
what does it mean to reform the energy sector? (Ivory coast)
Electricity sector sold to western TNC
What is the problem with privitisation of electricity sector?
causes electricity prices to go up (company want to recoup losses and make profit)
What was the condition for Ivory coast of they wanted to invest in education?
had to open up the banking sector
What are IGOs wanting to promote?
free-trade and capitalism
What do the policies from IGOs help?
help the country to move through the Rostow model using SAPs
What are the problems with SAPs?
budget costs of loans often affect money spent on education and healthcare (Indonesia)
