International Organisations

Question 1

IMF role

Answer 1

International Monetary Fund
Channels loans from richer countries that apply for help
Recipients must agree to run free market economies that are open to outside investment
As a result, it brings TNCs

Question 2

World bank role in globalisation

Answer 2

Lends money on a global scale

Gives direct grants to developing countries

Question 3

WTO role in globalisation

Answer 3

World trade organisation
Frees up trade, especially for manufactured goods
Asks countries to abandon protectionist attitudes in favour of untaxed trade

Question 4

IMF evaluation

Answer 4

Rules and regulations can be controvertial

Especially strict financial conditions imposed on borrowing governments

Question 5

World bank evaluation

Answer 5

Imposes strict conditions on its loans and grants

Distributed $65 billion in 2014

Question 6

WTO evaluation

Answer 6

Failed to stop the richest countries from subsidising their own food producers (harmful to farmers in developing countries)