World Bank: Basics
The IMF: Basics
World Bank: Controversies
The IMF: Controversies
Miscellaneous
100
When and where was the World Bank founded?
Bretton Woods Conference in 1944
100
When and where was the IMF created and established.
Bretton Woods Conference 1944 and established in 1945
100
List two controversies of the World Bank
Undemocratic governance/ Favoring privatization/ Contradictory financing (finances both coal industry and green technology)/ President has been traditionally an US citizen/ Has sovereign immunity
100
List three controversies of the IMF.
Criticized to have caused financial crises/ Developed countries have a dominant role/ Paid insufficient attention to poverty effects of the stabilization measures it advised/ Managerial Director is traditionally european/ Criticism of the IMF and its policies: Argentina
100
Why was Argentina considered a failure of the IMF?
Argentina was a model country of the IMF as it complied to the many policies of IMF since 1991, however it experienced a catastrophic financial crisis in 2001 due to IMF-induced budget restrictions.
200
What are the two goals that the World Bank seeks to achieve by 2030?
End Extreme Poverty and Promote Shared Prosperity
200
Who is the current Managerial Director?
Christine Lagarde
200
Who controls the World Bank and which "group" are the largest contributors to the World Bank?
The World Bank is controlled by industrialized More Economically Developed Countries and the G7 are the largest contributors to the World Bank.
200
What is capital account liberalization?
Capital account liberalization is easing restrictions on capital flows across a country’s borders
200
Why was Mexico considered a success of the IMF?
Mexico's balance of payments were worsening as their currency was devaluing and inflation was occurring. The IMF gave a "PesoPackage" and was able to help Mexico as it helped to stop liquidating assets, and trade became surplus and as a result exports increased and imports reduced.
300
Who is the president of the World Bank?
Jim Yong Kim.
300
What are the three missions?
Surveillance, lending, and technical assistance.
300
Although the World Bank does support both industries that pollute (e.g. coal industry) and promote green, what does the World Bank do to minimize this?
They minimize financing on coal industries.
300
What is structural conditioning?
Structural conditioning is the use of conditions attached to the provision of benefits such as a loan, debt relief or bilateral aid.
300
Where is the IMF headquarters?
Washington DC
400
List two things that the World Bank do to achieve their goals.
We provide low-interest loans, zero to low-interest credits, and grants to developing countries./ We also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors./ We offer support to developing countries through policy advice, research and analysis, and technical assistance./ We also sponsor, host, or participate in many conferences and forums on issues of development, often in collaboration with partners.
400
What are two goals in which IMF aims to achieve?
Foster global monetary cooperation/ Secure financial stability/ Facilitate international trade/ Promote high employment/ Sustainable economic growth/ Reduce poverty around the world
400
What is sovereign immunity?
Sovereign immunity is a legal doctrine by which the sovereign/state/organization cannot commit a legal wrong and is immune from civil suit or criminal prosecution. or This means that the World Bank is free from liability and unaccountable for the security of other people.
400
Give an evaluative sentence that includes consideration of short-term/long-term, priority, advantage/disadvantage, and stakeholders, on the Argentina case.
Answers may vary Example: In the short-term, the IMF brought a great disadvantage to Argentina as they affected both the government and citizens alike to experience a financial crisis.
400
The World Bank and the IMF were created in which conference?
The Bretton Woods Conference
500
Define SAP and provide a real-world example of a success.
Structural Adjustment Program (SAP) are lending programs a country would have to adhere to receive financial support from the World Bank.
500
How many countries are in the IMF?
189 Countries
500
List all countries in the G7.
USA, UK, Canada, Japan, Germany, France, EU, and Italy
500
What is one controversial failure of the IMF and when did it occur?
Argentina went into a financial crisis on December 2001/January 2002.
500
What bigger institution is the World Bank and the IMF a part of?
The World Bank is part of the World Bank Group and the IMF is part of the United Nations. The World Bank Group is part of the United Nations system.
M
e
n
u