International Monetary Fund

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What is the primary focus of the International Monetary Fund (IMF)?

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1

What is the primary focus of the International Monetary Fund (IMF)?

The stability of the global monetary system and monitoring the currencies of the world.

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2

What is the main aim of the World Bank?

To reduce poverty across the world and strengthen low- to middle-class populations.

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3

When was the IMF conceived?

In July 1944 at the United Nations Bretton Woods Conference.

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4

What role does the IMF serve as a gatekeeper?

Countries must be IMF members to be eligible for the International Bank for Reconstruction and Development.

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5

What does the IMF promote since the collapse of the Bretton Woods system?

The system of floating exchange rates determined by market forces.

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6

How many member countries are in the IMF?

190 member countries.

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7

What does the IMF use to denominate available amounts for borrowing?

Special Drawing Rights (SDRs).

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8

What is a Special Drawing Right (SDR)?

An international monetary reserve asset created by the IMF.

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9

What economic policies are often required from countries receiving IMF loans?

Reducing government borrowing, increasing interest rates, allowing bankruptcies, and structural adjustments.

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10

What was the outcome of the IMF's policies during the Asian financial crisis of 1997?

Policies turned a minor slowdown into a serious recession with high unemployment.

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11

What is the World Bank's mission?

To reduce poverty and promote sustainable economic development worldwide.

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12

How many institutions make up the World Bank Group?

Five institutions.

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13

What are the two primary arms of the World Bank?

The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

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14

How is the World Bank primarily funded?

Through member countries' capital contributions and by raising funds through issuing bonds.

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15

What is the primary role of the World Bank in financial development?

To provide financial resources, technical assistance, and policy advice to developing countries.

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16

What is one area the World Bank focuses on for economic improvement?

Enhancing access to financial services for underserved populations.

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17

How does the World Bank support private sector development?

Through the International Finance Corporation (IFC), which provides funding for businesses.

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18

What role does the World Bank play in infrastructure development?

Financing projects in energy, transportation, water, and sanitation.

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19

What are the criticisms focused on regarding IMF loans?

The conditions of loans, lack of accountability, and willingness to lend to countries with poor human rights records.

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20

What does the Governorship of the World Bank depend on?

The financial contributions of member countries.

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21

What are the six countries that are not IMF members?

Cuba, North Korea, Liechtenstein, Monaco, Taiwan, and Vatican City.

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