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Worldbank and IMF.pptx

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Worldbank and IMF.pptx

  1. 1. World Bank and International Monetary Fund (IMF) PolSci 235 – International Regional Organizations
  2. 2. World Bank The world bank is an internationally supported bank that provides financial and technical assistance to developing countries for development programs (e.g. bridges, roads, schools)with the stated goal of reducing poverty.
  3. 3. • President • Membership • Affiliates • Headquarters :- :- Robert B. Zoellick :- 185 countries :- IFC, MIGA, ICSID Washington, DC and more than 100 country Staff • Established :- about 10000 all over the world :- July 1,1944 INTRODUCTION
  4. 4. ROBERT B.ZOOLICK
  5. 5. World Bank Structure • The organizational structure of the Bank is headed by a board of governor, composed of one governor from each member state, meeting once a year. Below the board of governors is the board of executive directors, who meet in permanent session at the Bank’s headquarters. • The 24 directors are appointed by their governments but are considered employees of, and are paid salaries by the bank. • Voting in the bank is weighted. Meaning, the voting strength of each member state is proportionate to its financial contributions. • The U.S. still retains its power of veto and the share and votes of the Big Five remain at nearly 40 percent. The Big Five are the United States, japan, Germany, France, and UK.
  6. 6. NEED OF WORLD BANK BUILD C APACITY CREATE INFRASTRUCTURE DEVELOP FINANC IAL SYSTEM COMBAT CORRUPTION
  7. 7. OPERATIONS • Fund generation • Loans • Grants • Analytic & Advisory Services • Capacity building
  8. 8. AREA OF OPERATION • Agriculture and Rural Development • Economic policy • Education • Energy • Environment • Financial sector • Health, nutrition and population industry • Information, computing and telecommunication • Law and justice • Private sector • Social protection • Trade • Water resources • Water supply and sanitation
  9. 9. CRITICISM • It was started to reduce poverty but it support United States’ business interests. • It is deeply implicated in contemporary modes of donor and NGO driven imperialism. • The President of the Bank is always a citizen of the United States. • Lack transparency to external publics. • It is an instrument for the promotion of U.S. orWestern interests. • The decision-making structure is undemocratic. • It has consistently pushed a “neo-liberal” agenda.
  10. 10. 5 PRIORITIES OF WORLD BANK • World bank provides the largest external funds for education. • It is a big support in reducing poverty. • It provides fund for biodiversity projects. • it helps to bring clean water, electricity, and transport to poor people. • It helps in controlling emerging conflicts.
  11. 11. International Monetary Fund (IMF) • “It is an organization of 186 countries ,working to foster global monetary cooperation , secure financial stability ,facilitate international trade ,promote high employment and sustainable economic growth and reduce poverty” . • The IMF is the most detailed attempt to organize the conduct of international monetary affairs.
  12. 12. The International Monetary Fund was created in July 1944, originally with 45 members, with a goal to stabilize exchange rates and assist the reconstruction of the world's international payment system. Countries contributed to a pool which could be borrowed from, on a temporary basis, by countries with payment imbalances. (Condon, 2007) Headquarters in Washington D.C.
  13. 13. Who runs the IMF? Member Countries IMF Managing Directors Executive Board Board of Governors First Deputy Managing Dir. Deputy Managing Dir. Deputy Managing Dir.
  14. 14. IMF Director – Christine Lagarde
  15. 15. MEMBERSHIP There are two types of members: 1) ORIGINAL MEMBERS: All those countries whose representatives took part in BRETTONWOODS CONFERENCE and who agreed to be the members of the fund prior to 31st December,1945. 2) ORDINARY MEMBERS: All those who became its members subsequently. *BANK has the authority to suspend any member and similarly every member is free to resign.
  16. 16. RESOURCES OF THE FUND • QUOTAS AND THEIR FIXATION: The fund has general account based on quotas allocated to its members .when a country joins the fund, it is assigned a quota that governs the size of its subscription, its voting power and its drawing rights . • FUND BORROWING: It was in force from October 1962 to December 1998 .At that time its total borrowing was SDR 17 billion .
  17. 17. OBJE CTIVES OF THE IMF • International Monetary Co Operation • To Facilitate Expansion And Balanced Growth Of International Trade • To Promote Exchange Stability • Generating Higher Employment And Income • Abolition Of Exchange Restriction • Aid To Members During Emergency • To Shorten The Duration And Lessen The Degree Of Disequilibrium In The International Balance Of Payments Of Members.
  18. 18. Criticism  Many observers comment on the fact that the IMF has a ”one size fits all” mentality, that whatever the situation the IMF prescribes basically the same set of policies.  IMF does not adequately monitor the impact of its decisions on the poor.  Some of U.S. critics say, IMF is an incredibly wasteful organization that takes valuable funds and pours it down the drain of developing economies whose leaders become fabulously rich off the money without any intention of ever helping out anyone.  the IMF has no effective authority over the domestic economic policies of its members.
  19. 19. CONCLUSION The IMF’s primary purpose is to safeguard the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to buy goods and services from each other. This is essential for achieving sustainable economic growth and raising living standards. providing advice to members on adopting policies that can help them prevent or resolve a financial crisis, achieve macroeconomic stability, accelerate economic growth, and alleviate poverty; making financing temporarily available to member countries to help them address balance of payments problems—that is, when they find themselves short of foreign exchange because their payments to other countries exceed their foreign exchange earnings; and offering technical assistance and training to countries at their request, to help them build the expertise and institutions they need to implement sound economic policies.
  20. 20. Difference Between IMF & World Bank
  21. 21. Ryan Cloyd Q. Villanueva BA-Political Science 4

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