Orgs and bodies Flashcards
1
Q
IMF
A
- 1944 at the UN bretton woods conference
- neoliberalism caused 1997 Asian financial crisis where enforced conditions enforced contractionary macroeconomic policy leading to deeper and longer recessions (Indonesia)
- $750B stimulus to countries during GFC
- 189 member countries
2
Q
World Bank
A
- 1944 at the UN bretton woods conference
- 189 member nations
- goal is funding economic development
- 2600 projects totalling $260B
- impacts are evident in HDI increasing from 0.59 in 1990 up to 0.73 in 2017
- criticism has been levelled for neoliberalism and lending coinciding with American multinational companies
3
Q
The UN
A
- founded in 1942
- the UN has successfully reduced the number of people
living on less than US$1.25 a day from 1.9B in 1990 to 836m in 2015
4
Q
Organisation for economic development (OECD)
A
- collaboration of 36 advanced market economies that account for approximately 80% of global trade and investment flows.
- aim is to use qualitative information to advise governments globally the appropriate procedures to increase economic development
5
Q
G7/G20 (group of)
A
- founded in 1975 to include the biggest economies at the time
- Includes United States, Japan, Germany, United Kingdom, Canada, France, Italy
- criticisms levelled are that it is to exclusive and does not refelct the current times
- promotes international financial stability