1 / 11

Bretton Woods Basic

Bretton Woods Basic. What they were designed to do. Emergency financing Exchange rate policy Trade liberalization Employment. What they actually do. Crisis management Transition Assist the poorest. What shapes their work. The politics of their main creditors Economics profession

jaron
Download Presentation

Bretton Woods Basic

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bretton Woods Basic

  2. What they were designed to do • Emergency financing • Exchange rate policy • Trade liberalization • Employment

  3. What they actually do • Crisis management • Transition • Assist the poorest

  4. What shapes their work • The politics of their main creditors • Economics profession • Own bureaucratic imperatives • The politics of and the availability of sympathetic interlocutors in their borrowers

  5. Similarities • Dominated by G7 via board structure • Conditional lending • Similar training for senior staff • Mission creep • Staff incentives to play conformist and technocratic

  6. Where does the IMF money come from? • Members’ quotas • The burden for the quadrupling of its spending since 1991 falls on borrowers

  7. Where does the WB money come from? • Mostly AAA bonds backed by rich members’ callable capital • Profits of investment of its own income from lending • Less and less: donations from rich members for IDA

  8. Less talked about stuff • WB’s IDA and US politics • Trust funds and US politics • Congress vs Treasury: the Meltzer Commission

  9. Who is “the US” • White House • Treasury • USAID-State Dept • National Security Council • Dept of Agriculture • American investors in sovereign bonds • American manufacturing

  10. Differences

  11. Question • How can poor states best deal with IMF/WB?

More Related