role of international financial systems Flashcards
what are the two main institutions?
the IMF and the World Bank
how many members do the IMF have?
189
how many members do the world bank have?
189
how many staff are in the IMF?
2300
how many staff in the world bank?
7000
what is the main aim of the IMF?
to oversee the global financial system
what is the main aim of the world bank?
to promote economic development in developing countries
what does the IMF offer counties?
finicial and technical assistance
advises them on policies that promote stability
loans are only given in extreme crisis
what do the world bank offer?
interest free loads via the IDA
development projects t countries with very low capita a year
what is the top down projects?
when decision of development made by authority and with no consultation for the local population
what is a negative aspect of the IMF?
they have been prone to causing severe cuts in education and welfare in developing countries
why are the thought to create unequal flows?
both based in USA and other developed countries, less developed countries have less influence over decisions and regulations
what is a problems in conditions of loans?
both loans are conditional and require LICs to make some sort of change
form of control rather than help
what is a problem with WTO?
they encourage the removal of trade barriers however more developed countries are more able to keep their
expense of less developed
