IGO's - international government organisations

Question 1

what are IGOs?

Answer 1

1. they are formed by treaties (so they can enforce agreements and international law)
2. aim to solve social, economic and environmental problems
3. can form international policies and global governance

Question 2

what is the IMF?

Answer 2

The International Monetary Fund aims to develop the economies of other countries (usually HICs and NEEs) by making them privatise state-run companies in return for their loans in order to maintain international financial stability.

Question 3

negatives of the IMF?

Answer 3

1. the private sector increases and money goes back to Western TNCs, causing greater inequality and economic leakage.
2. causes austerity

Question 4

what is austerity?

Answer 4

decrease in government public spending on healthcare, infrastructure, education, transport, etc

Question 5

critics of the IMF?

Answer 5

1. only respond to issues, not prevent them from happening again
2. not concerned about human and labour rights
3. Increase taxes to generate government revenue
4. controlled by major Western nations

Question 6

what does the World Bank do?

Answer 6

gives loans to LICs to reduce poverty and encourage social, economic and environmental development

Question 7

positives of the World Bank?

Answer 7

1. give knowledge and expertise to locals
2. gives technology and resources
3. gives building technology
4. advocates for sustainable development

Question 8

critics of the World Bank?

Answer 8

1. contradictory agenda (political vs practical)
2. may worsen poverty, public health and diversity
3. focuses on rise in GDP, not on a rise in living standards
4. focus on promotion on the West

Question 9

what does the WTO do?

Answer 9

1. aim for liberalised trade across the whole world (no subsidies or tariffs - barriers)

Question 10

negatives of the WTO?

Answer 10

trade blocs are a direct contradiction of this which shows it has limited power to enforce rules in the world,