IMF + IPCC

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7 Terms

1
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What is the IMF

International Monetary Fund created in 1945 alongside world bank and has 189 members

2
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Why is IMF different from world bank

It doesn’t loan for projects but is a lender of last resort for countries that have destabilised to prevent domino effect for other countries

IMF provides financial assistance rather than long term loans for development

IMF has 2300 staff compared to 7000.

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What are the advantages of the IMF?

  • Biggest borrowers are greece, ukraine green got 32 billion in emergnecy loans

  • Global financial crisis in 2008 meant african countries suffered so IMF gave billions of low interest loans to countries like ghana

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What are the disadvantages of the IMF

  • tends to serve western interests

  • countries dont always manage to pay back loans, eg greece missed 2015 deadline

  • Disparative levels of influence (eg countries that put more money in get greater voting rights) = more inequality = US has 1/5 voting rights

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What is the IPCC

The intergovernmental Panel on Climate Change established in 1988 and have 190 members

Established to provide policymakers with info on CC for impacts and risks as well as mitigation and adaptation

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What are the advantages of the IPCC

  • helps policymakers understand how to move forward and adapt to climate chnage or how to mitigate

  • researchers use computer models and are now very good at perdictions

  • resolution of the model has improved by a factor of 10 over the last 25 years

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What are the disadvantages of IPCC

  • researchers struggle to model how sensitive earth will beto rising conc of greenhouse gases

  • estimates for climate senisitivty hasnt changed much in 25yrs