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INTERNATIONAL FINANCIAL INSTITUTIONS, image, image, image, image, image,…
INTERNATIONAL FINANCIAL INSTITUTIONS
INTERNATIONAL MONETARY FUND (IMF)
Positive Impacts
Economic Growth: Supporting reforms that lead to long-term growth
Debt Relief: Assisting heavily indebted poor countries (HIPCs) in reducing their debt burdens
Financial Stability: Helping countries stabilize their economies during crises
Critiques and Negative Consequences
Austerity Measures: Criticized for imposing harsh economic conditions on borrowing countries
Sovereignty Issues: Seen as infringing on national economic policies
Social Impacts: Austerity often leads to cuts in social spending, affecting vulnerable populations
Roles and Functions
Lending: Providing financial assistance to countries facing balance-of-payments problems
Capacity Development: Offering technical assistance and training
Economic Surveillance: Monitoring global economic trends
Case Studies and Examples
Greece Debt Crisis: Example of IMF intervention during the European debt crisis
Argentina 2001 Crisis: IMF’s role in Argentina’s financial crisis and subsequent recovery
ASIAN INFRASTRUCTURE INVESTMENT BANK (AIIB)
Positive Impacts
Economic Growth: stimulating economic activities through strategic investment
Environmental Sustainability: Supporting eco-friendly projects that reduce carbon footprints
Infrastructure Improvement: Enhancing infrastructure in underdeveloped areas
Critiques and Negative Consequences
Environmental Risks: Some projects may not fully considered environmental impacts
Geopolitical Influence: Fears that AIIB may serve geopolitical interests of its dominant members
Transparency Issues: Concerns about the transparency of decision-making processes
Roles & Function
Co-financing: Partnering with other financial institutions for large-scale projects
Green Development: Emphasizing environmental sustainability in project financing
Infrastructure Investment: Focusing on sustainable infrastructure development in Asia
Case Studies and Examples
Pakistan’s Motorway Project: Financing of the M-4 Motorway projects
Bangladesh Natural Gas Infrastructure: Support for energy infrastructure
ASIAN DEVELOPMENT BANK(ADB)
Positive Impacts
Poverty Reduction: Funding projects that improve living standards in Asia
Sustainable Development: Supporting green projects and renewable energy
Economic Integration: Strengthening regional cooperation and connectivity
Roles and Functions
Project Financing: Funding infrastructure and social development projects
Technical Assistance: Providing expertise to improve project outcomes
Regional Cooperation: Promoting economic integration in Asia
Critiques and Negative Consequences:
Social Displacement: Communities may be displaced due to development projects
Debt Accumulation: Countries may accumulate unsustainable levels of debt
Environmental Damage: Large infrastructure projects sometimes result in environmental harm
Case Studies and Examples
India Solar Power Project: Promote renewable energy
Trans-Asian Railway: Funding the Trans-Asian Railway network
WORLD BANK
Positive Impacts
Poverty Reduction: Lifting millions out of poverty through targeted programs
Educational Projects: Improving literacy and education in developing countries
Infrastructure Development: Building roads, schools, and hospitals
Critiques and Negative Consequences
Debt Dependency: Countries may become overly reliant on loans, leading to debt crises
Displacement Issues: Infrastructure projects sometimes lead to displacement of communities
Cultural Erosion: Development projects may not always respect local cultures and traditions
Roles and Functions
Policy Advice: Offering expertise in economic policy and reforms
Poverty Alleviation: Implementing programs aimed at reducing poverty
Development Projects: Financing infrastructure, education, and health projects in developing countries
Case Studies and Examples
Uganda Education Project: Improving primary education
China’s Rural Development Projects: Rural infrastructure
WORLD TRADE ORGANISATION(WTO)
Positive Impacts
Market Access: Enabling developing countries to access global markets
Trade liberalization: Promoting freer trade, leading to economic growth
Reduction of Trade Barriers: Lowering tariffs and other obstacles to international trade
Critiques and Negative Consequences
Labor Rights: Criticized for not adequately protecting workers’ rights
Environmental Concerns: Trade liberalization sometimes leads to environmental degradation
Inequality: Accused of favoring wealthy nations over developing ones
Roles and Functions
Dispute Resolution: Addressing conflicts between member states regarding trade practices
Trade Policy Monitoring: Reviewing national trade policies
Trade Negotiations: Facilitating multilateral trade agreements
Case Studies and Examples
Doha Round: The challenges and stalled negotiations of the Doha Development Round
Banana Dispute: Resolving trade disputes between the EU and Latin American countries over banana imports
23030619 Joseph Wong King Hao
