Economic GG

Question 1

DURING COVID HOW MUCH DID IMF LEND TO HOW MANY COUNTRIES?

Answer 1

IMF acts as lender of last resort in crises (e.g., disbursed $100 billion to 80+ countries during COVID-19).

Question 2

IN 2024 HOW MUCH MONEY DID THE WORLD BANK GIVE TO THE POOREST STATES?

Answer 2

World Bank has given $117 billion (2024) to poorest countries, funding infrastructure, healthcare, education (e.g., Ethiopia’s 8% growth in 2010s from World Bank-supported projects).

Question 3

EXAMPLES OF SAPs WORSENING POVERTY-

Answer 3

Zambia’s poverty rose from 49% to 80%, Greece’s 2011 austerity caused 27% unemployment).

Question 4

WTO WHAT WAS THE BALI AGREEMENT?

Answer 4

Bali Agreement (2013) cut global trade costs by 14.3%, easing trade for small businesses and landlocked countries.

Question 5

WHEN CHINA JOINED THE WTO, WHAT HAPPENED TO ITS GDP?

Answer 5

China’s WTO entry (2001) led to huge growth: GDP rose from $1.3 trillion to $14.7 trillion by 2020.

Question 6

EXAMPLES TO DEMONSTRATE G7/20 RESPOND CRISES-

Answer 6

$5 trillion stimulus at 2008 G20 summit stabilised economy; G7 pledged $20 billion for COVID-19 vaccine distribution.

Question 7

IMF liberalisation impact on India

Answer 7

extreme poverty falling from 45% (1993) to ~6% (2024).

Question 8

In relation to dependency theory what % Sub-Saharan Africa in extreme poverty ?

Answer 8

Sub-Saharan Africa: 38% still in extreme poverty

Question 9

WTO STRUCTURAL THEORY- NIGERIA

Answer 9

Nigeria: 92% of exports are oil/gas; 40% of population in poverty; volatile revenues perpetuate poverty.

Question 10

IMF AND WB US VOTING POWER

Answer 10

The U.S. is the only country with veto power over structural changes within the World Bank and holds around 16.5% of the total voting power in the IMF, which, combined with the requirement that major decisions need an 85% majority, effectively grants the U.S. a de facto veto over key IMF policies.