Global governance: Economic: Key terminology

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7 Terms

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International Monetary Fund (IMF)

An international organisation working to foster global monetary co-operation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

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World Bank

An international organisation that offers concessional loans and grants to the world's poorest developing countries in order to reduce poverty.

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World Trade Organisation (WTO)

An organisation that regulates international trade.

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G7 (8)

Group of seven states/eight states.

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G20

Group of twenty states.

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North-South divide

Global socio-economic and political divide.

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Dependency theory

Emphasises structural imbalances within capitalism that impose dependency on poorer states.