international organisations in globalisation Flashcards
when was international monetary fund
1944
what is the role of the international monetary fund (IMF)
provide loans (from the rich) to poorer nations, in-return demanding they must have a free-market economy to encourage TNCs to invest
evaluation of international monetary fund
rules are controversial
negative consequences for borrowing countires as they may cut education, healthcare funds
when was the world bank formed
1944 (bretton woods)
what do the world bank do
they provide loans for countries, direct grants to developing countries
$65bn in loans/grants 2014
evaluation of the world bank
very American dominated and strict conditions are imposed on countries
when was the world trade organisation (WTO) formed
1995
what do the world trade organisation do
encourage countries to participate in free tree trade, in hope to abandon protectionism attitudes
evaluation of WTO
overall not successful
failed to stop rich countries subsidising national food producers
failed to get 159 members to agree on any trade agreement
