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International Monetary Fund

International Monetary Fund. Created in 1945 Ensures economic stability in the world (international) Lends money to countries in financial crises Loans are conditional

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International Monetary Fund

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  1. International Monetary Fund • Created in 1945 • Ensures economic stability in the world (international) • Lends money to countries in financial crises • Loans are conditional • Countries must adopt economic reforms that are meant to stabilize and open up that countries’ economy (free trade/globalization) • Limits countries’ sovereignty because they must obey these conditions to get loans

  2. World Bank • Created in 1945 • Group of financial institutions • Role was to finance reconstruction of countries devastated by WWII • Now lends money to governments and corporations in developing countries • Countries must adopt administrative (who’s in charge) and structural (public  private) reforms in order to receive loans

  3. Multinational Corporations • Large-scale businesses operating in several countries to • Be closer to natural resources needed for production • Avoid tariffs • Find other markets for their products • Pay lower production costs than in their home country • $31 trillion in sales in 2007 • 2/3 of international trade is by multinationals • Employed 82 million people in 2007

  4. Multinationals • Very powerful: make more money than some countries • Through lobbies, they influence governments because they: • Employ millions of people • Invest enormous amounts of money • Governments try to attract these companies by: • Introducing free trade zones • Providing tax breaks

  5. Non-Governmental Organizations • Must be formed by citizens with no ties to government and volunteering • Non-profit organizations • Conduct research, organize demonstrations, distribute information, raise money, conduct advertising campaigns • Work in different fields, ie health, environment, economics • Can be national or international

  6. NGOs • Political or economic • Transparency Intl: fights gov’t corruption • Human rights • Amnesty Intl: prevents and ends human rights violations • Reporters Without Borders: fights laws that restrict freedom of the press and defends persecuted or imprisoned journalists • World Organization Against Torture: fights torture, summary executions and any other cruel or inhumane treatment • Environmental • Greenpeace: conducts educational campaigns, researches and promotes developing ecological solutions • World Wide Fund for Nature: Fights pollution • Humanitarian • Doctors Without Borders: offers emergency medical assistance to populations at risk • Oxfam: fights poverty and injustice around the world • Red Cross: protects and assists victims of conflicts

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