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Economic Institutions Categorise
Target Level
C
Running Total
0
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Strengths of the IMF / World Bank
Weaknesses of the IMF / World Bank
Policies promoted through Structural Adjustment Programs can make nation states more vulnerable to global economic shocks
The IMF/World Bank are perceived to have shifted from their initial aims and purposes
Effective at responding to economic crises quickly
Widespread global membership: 189 member states is almost every country in the world
Conditions attached to loans undermine national sovereignty by taking away the right to choose economic policies
Forced removal of trade barriers prevents nascent industries in the Global South from developing
Global institutions prevent the prioritisation of narrow national interests
Quota system means wealthier nations contribute towards loans for indebted nations
Impact of multinational corporations moving into developed countries creates relations of dependency on foreign direct investment
Does not allow the Global South the same path to industrialisation as the Global North benefited from