Orgs and bodies

Question 1

IMF

Answer 1

• 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

Question 2

World Bank

Answer 2

• 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

Question 3

The UN

Answer 3

• 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

Question 4

Organisation for economic development (OECD)

Answer 4

• 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

Question 5

G7/G20 (group of)

Answer 5

• 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