LESSON 3 Flashcards
(64 cards)
3 components of globalization:
economic
cultural/social
political
It refers to the widespread internationalmovement of goods, capital, services, technology, and information.
economic globalization
is one most often mentioned in the media
economic globalization
economic globalization primarily composes of:
- Production
- Finance
- Markets
- Technology
- Organizations
- Institutions
- Corporations
- Labor
works to achieve sustainable growth and prosperity for all of its 191 member countries.
international monetary fund
supports economic policies
that promote financial stability and monetary cooperation
international monetary fund
IMF in numbers:
191
44
1944
1 trillion
The IMF fosters international financial stability by offering:
- Policy advice
- Financial assistance
- Capacity development
A core responsibility of the IMF is monitoring the economic and financial policies of member countries and providing them with policy advice, an activity known as?
surveillance
The IMF identifies potential risks and
recommends appropriate policy adjustments to sustain economic growth and promote financial stability
policy advice
Unlike development banks, the IMF does not lend for specific projects. Instead, the IMF provides financial support to countries hit by crises to create breathing room as they
implement policies that restore economic stability and growth.
financial assistance
It also provides precautionary financing to help prevent crises
international monetary fund, financial assistance
can help countries to improve tax collection and bolster public
finances. It can help countries to modernize their monetary and exchange rate policies, develop legal systems, or strengthen governance.
capacity development
also can help countries collect and disseminate data to inform decision-making
capacity development
The International Monetary Fund (IMF) gets its funds primarily from its member countries through the following sources:
quotas
borrowing
interest & service charges
was established in 1944 to
help rebuild Europe and Japan after World War II. Its official name was the International Bank for Reconstruction and Development
(IBRD)
world bank
It supports a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management
world bank
lends money to middle-income
countries at interest rates lower than the rates on loans from commercial banks.
world bank
lends money at no interest to the poorest developing countries, those that often cannot find other sources of loans
world bank
world bank KEY PRIORITIES:
result
reform
open development
continues to sharpen the
focus on helping developing countries
deliver measurable results
result
working to improve every
aspect of work: how projects are designed, how information is made available (Access to Information), and how to bring our operations closer to client governments and communities
reform
offers a growing range of free,
easy-to-access tools, research and knowledge to help people address the world’s development challenges.
open development
Macroeconomic and financial stability
IMF