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
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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
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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
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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
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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
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