To provide financial/technical assistance for developing countries and to reduce poverty.
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What are TWB's 2 goals for the end of 2030?
To end extreme poverty by decreasing the amount of people living on less than $1.90 a day to 3%.
To promote shared prosperity by fostering income growth of the lowest 40%.
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What are 3 features of TWB's financial services?
Low interest loans.
Zero to low interest credits.
Grants.
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What does TWB's innovative knowledge sharing entail?
Policy advice.
Research & analysis.
Technical assistance.
Working with communities it supports.
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What are criticisms of TWB?
Loans seen as hurting the poor and benefitting big businesses.
Ignore environmental/social impacts of projects.
Causes countries debt = can't spend money on things such as public services.
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What is the purpose of the IMF (International Monetary Fund)?
Promotes international financial stability, helps reduce global poverty & helps with international trade, promotes employment and sustainable economic growth.
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What do IMF members have to do?
Each country must pay a quota based on the size of their economy; e.g. Britain contributes £21bn, USA £83bn.
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What does the IMF do?
Monitors member countries and gives advice to avoid financial problems.
Gives loans to member countries experiencing problems.
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How many IMF members are there & why was it set up?
189.
Set up in 1944 to avoid repeat of 1930s depression.
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What are criticisms of the IMF?
Government owned businesses privatise = individuals gain lots of money & companies dominate economy.
Some policies made w/ little consultation.
Restrictions=problems e.g. unemployment.
Less currency restrictions=easy transfer corrupt money
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What is the purpose of the WTO (World Trade Organisation)?
Implement global trade rules.
Ensure trade flows smoothly, predictably and freely.
Assures consumers/companies of reliable global trade.
Remove trade barriers between people and nations.
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When was the WTO made and what is it's goal?
1995.
To improve the welfare of the people of member countries.
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What does membership with the WTO entail?
Member countries can vote on WTO decisions.
Agreements are made legal framework for global trade, binding governments to keep policies/agreements.
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What are criticisms of the WTO?
Free trade favours rich/powerful rather than developing countries.
Criticised for lack of environmental consideration.
Prioritise country's GDP.
Ignore country's social/cultural factors.
MNCs dominate country's economy.
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Other cards in this set
Card 2
Front
What are TWB's 2 goals for the end of 2030?
Back
To end extreme poverty by decreasing the amount of people living on less than $1.90 a day to 3%.
To promote shared prosperity by fostering income growth of the lowest 40%.
Card 3
Front
What are 3 features of TWB's financial services?
Back
Card 4
Front
What does TWB's innovative knowledge sharing entail?
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