Section 4: Global Governance & Economic Power

Bretton Woods Regime (Peet)

The post-1944 international monetary order establishing institutions such as the IMF and World Bank and a dollar-centered financial system.

International Monetary Fund (IMF)

An international financial institution that supports monetary stability and provides loans to countries facing financial difficulties.

World Bank

An international financial institution that provides development financing and assistance.

United Nations Security Council

The UN body responsible for international peace and security, with five permanent members holding veto power.

Structural Adjustment Programs

Loan-linked economic reforms often requiring privatization, reduced public spending, liberalization, and deregulation.

US Dollar

The currency of the United States and a dominant global reserve and international transaction currency.

Third World Debt Crisis

A major debt crisis affecting developing countries, especially in the 1980s, when many struggled to repay international loans.

Economic sanctions (Stein and Cocco)

Restrictions on trade, finance, or economic activity imposed to pressure governments or other targeted actors.