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    Imf, WB, & Wto

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    The IMF, World Bank, and WTO provide financial assistance and regulate international trade. The IMF and World Bank were established in 1944 to provide short-term relief and long-term development assistance. Some Caribbean countries that engage these organizations are Jamaica, St. Lucia, and Grenada. While they provide needed funds, the structural adjustments can weaken economies and increase debt burdens. The WTO facilitates global trade negotiations and disputes, and its rulings have impacted Caribbean banana producers and a US-Cuba trade law.

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    Imf, WB, & Wto

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    bcvbvcbhj
    466 views19 pages
    The IMF, World Bank, and WTO provide financial assistance and regulate international trade. The IMF and World Bank were established in 1944 to provide short-term relief and long-term development assistance. Some Caribbean countries that engage these organizations are Jamaica, St. Lucia, and Grenada. While they provide needed funds, the structural adjustments can weaken economies and increase debt burdens. The WTO facilitates global trade negotiations and disputes, and its rulings have impacted Caribbean banana producers and a US-Cuba trade law.

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    caribbean studies

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    IMF, WB, & WTO (ppt)

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    The IMF, World Bank, and WTO provide financial assistance and regulate international trade. The IMF and World Bank were established in 1944 to provide short-term relief and long-term development assistance. Some Caribbean countries that engage these organizations are Jamaica, St. Lucia, and Grenada. While they provide needed funds, the structural adjustments can weaken economies and increase debt burdens. The WTO facilitates global trade negotiations and disputes, and its rulings have impacted Caribbean banana producers and a US-Cuba trade law.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    466 views19 pages

    Imf, WB, & Wto

    Uploaded by

    bcvbvcbhj
    The IMF, World Bank, and WTO provide financial assistance and regulate international trade. The IMF and World Bank were established in 1944 to provide short-term relief and long-term development assistance. Some Caribbean countries that engage these organizations are Jamaica, St. Lucia, and Grenada. While they provide needed funds, the structural adjustments can weaken economies and increase debt burdens. The WTO facilitates global trade negotiations and disputes, and its rulings have impacted Caribbean banana producers and a US-Cuba trade law.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 19

    IMF WORLD BANK WORLD TRADE ORGANIZATION

    Who? What? When? Where? Why?

    at the end of this lecture youll...

    ... have a basic understanding of the IMF, World Bank and WTO

    ... be able to identify some Caribbean countries that have engaged the IMF and World Bank
    ... recognize the pros and cons of financial assistance from the IMF and World bank ... identify some ways the WTO affects the Caribbean

    IMF & world bank


    WHAT? IMF and World Bank are international organizations that provide financial assistance to countries in need. The World Bank is comprised of 5 agencies - (1) International Bank for Reconstruction and Development (IBRD), (2) International Development Association (IDA), (3) International Finance Corporation (IFC), (4) the Multilateral Investment Guarantee Agency (MIGA), (5) International Centre for Settlement of Investment Disputes (ICSID)

    IMF & world bank


    The IBRD provides loans to middle-income and creditworthy lowincome countries. The IDA provides interest-free loans (credits) and grants to the poorest countries. The IFC provides loans, equity and technical assistance to stimulate private sector investment in developing countries. The MIGA provides guarantees against losses to investors in developing countries.

    The ICSID provides international facilities for conciliation and arbitration of investment disputes.

    IMF & world bank


    The IMF is a specialized agency of the United Nations but has its own charter, governing structure and finances.

    187 countries are members of the IMF which uses a quota system to assign voting rights to each member. Each members assigned quota is based on the relative size of its economy.
    The top 5 members of IMF are USA, Japan, Germany, UK, France (as of 2010).

    IMF & world bank


    When? Established in 1944 at the Bretton Woods Conference

    Where? Both are headquartered in Washington, D.C but have small overseas offices in some member countries

    IMF & world bank

    Why?
    Initially, both the Fund and Bank were established to provide short-term financial assistance for reconstruction of European countries devastated by World War II.

    IMF & world bank


    In the 1970s oil prices rose by as much as 400% causing prices of goods to soar

    Governments around the world, especially in developing countries found it extremely difficult to pay for goods and services IMF and World Bank were seen as an option for providing short-term liquidity and (possibly) long-term assistance for development.

    imf & wb - pros and cons


    PROS
    provide short-term financing to assist with specific projects provide much needed cash that can be used to address a countrys immediate financial needs provide technical expertise to governments in various areas

    imf & wb - pros and cons


    CONS
    Historically, the structural adjustment features of currency devaluation and open trade markets have weakened rather strengthened economies. Increased debt burden on developing countries (Caribbean countries among the most indebted countries in the world). Increased debt increases the likelihood of future increases in taxes

    imf, world bank & the caribbean

    WORLD BANK & THE CARIBBEAN


    Antigua & Barbuda (IBRD) Belize (IBRD)

    Dominica (Blend) Grenada (Blend) Guyana (IDA) Haiti (IDA) Jamaica (IBRD) St. Kitts & Nevis (IBRD) St. Lucia (Blend) St. Vincent (Blend) Trinidad & Tobago (IBRD)

    imf, world bank & the caribbean

    IMF & The Caribbean


    Antigua & Barbuda Dominica Grenada Jamaica St. Kitts & Nevis St. Lucia St. Vincent & the Grenadines
    (these countries either have Rapid Response Facilities [RRF] or Exogenous Shock Facilities [ESF] arrangements with the IMF).

    world trade organization


    WHAT? The WTO is an international organization that focuses on the rules of trade among nations. Made up of approximately 150 member countries

    When? Established in 1995

    world trade organization

    Where?

    Headquartered in Geneva, Switzerland


    Why?

    The WTO facilitates trade negotiations, implements and monitors trade agreements, and arbitrates disputes.

    wto and the caribbean

    The Banana War


    Removed protective trade agreements between the ACP countries and EU
    Forced the small banana producers of the Caribbean to compete on on equal terms with large, U.S. based, multinational corporations (e.g. Chiquita)

    wto and the caribbean

    US Omnibus Appropriations Act ruling


    WTO ruled in favour of Cuba against U. S. Section 211 of the Act hindered foreign investment in Cuba as it related to world-known Cuban products while allowing a U. S. company to illegally sell its product under a Cuban trademark.

    The End

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