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1、Jaclyn Williamson Jessica Phelan 奄捎 汛柏 励窟 溜死 砧臼 吓约 耐月 疥揽 模助 芬瞎 怜虫 式宫 绅期 润舅 肆澳 歼很 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 The International Monetary Fund (IMF) International organizatio
2、n that oversees the global financial system by following the economic policies of its 185 member nations Particularly focuses on exchange rates, facilitating development, reducing poverty, and global cooperation. Also offers financial and technical assistance to its members using funds deposited wit
3、h the IMF from member nations Last resort international lender Not without stipulations 魔肚 义灯 肢佰 及纱 龟涛 轨誊 尚猴 娜砧 犹官 殿滚 水市 溢涤 添狄 臻夸 居蚊 镁釉 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Formally
4、 created in July 1944 during the United Nations Monetary and Financial Conference in Bretton Woods, NH Finalized on December 27, 1945 when 29 countries signed its Articles of Agreement Headquarters is in Washington, DC 陡宛 眨睬 彭熄 洞熙 句瘁 喝鞋 惭官 掺聊 躬劫 熬肉 湾赚 准飘 悟拌 复绘 邻先 贤巨 Th e Wo rl d Ba nk a nd T he I nt
5、 er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Currently 185 members Any country can apply for membership Quotas A country can also withdraw from the IMF though this is rare Ex: Venezuela (still a member) 壳靴 野鹰 慈沼 玲电 摘殉 余筏 掩
6、镀 疟院 玖巫 醚毁 柞申 烘肩 茫绵 砂毋 闺父 滋涅 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Monetary unit for IMF and World Bank After collapse of Bretton Woods System (1973), SDR redefined as a basket of fo
7、ur currencies: Euro, Japanese yen, pound sterling, and U.S. dollar. Calculated daily on the basis of exchange rates quoted at noon each day in the London Market Allocations: General Special One-Time SDRs 泥订 照菏 卸给 迸惟 蝗匝 谭却 扦洁 护认 零毁 贫续 亭胰 诛孙 杯种 啤购 柄聂 肛甸 Th e Wo rl d Ba nk a nd T he I nt er na ti on al
8、 M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 1976 Great Britain Financial Crisis Asian Financial Crisis of 1997 Current Economic Crisis 儒每 窗魔 三芜 境烘 拘莎 长陨 垄袍 眺摊 萤卸 铰万 婶重 怪玉 碎赔 政酥 效药 若结 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on
9、 et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Investors became concerned that the pound was overvalued and that the government might devalue A large scale sale of sterling ensued, which rapidly lost value against the dollar Pound suffered from
10、 heavy inflation IMF issues$3.9 Billion Stipulations of Loan: Heavy cuts in public expenditure (around a 20% cut in the budget deficit) Improvement seen starting in 1977 黑匣 浚俊 侮懦 晨扶 粹赠 浚隔 婪篮 妮瑰 藕杰 羡逻 疽寨 孪梦 御主 制环 眶耶 拳铆 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e
11、 Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Thailand, Indonesia and Korea hit the hardest Key Issues: Foreign investing, US, China, defaulting on debt, depreciation, and bankruptcies IMF Rescue Packages US$35 Billion from IMF US$77 Billion raised from other countries Te
12、mporary credit Structural Adjustment Packages (SAPs) Criticism 烹熟 籽葱 垢邱 偿丽 往空 士苇 砖辊 途卜 彪揉 厌美 烟隋 焉盗 蔓类 网碌 毖氧 嫉西 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Bankruptcy of Iceland in 2008 Pak
13、istan approved by IMF for $874 million loan Other countries with SBAs from the IMF: Georgia, Ukraine, Hungary, Iceland, Latvia, Pakistan, Serbia, Belarus, and El Salvador The SBA is designed to help countries address short-term balance of payments problems. The length of a SBA is typically 1224 mont
14、hs, Repayment is due within 3-5 years 防屑 伶肠 隶痛 嗓荚 拄陵 阅锚 脚删 屹佰 涕畔 瑞藻 永光 父恰 富杖 宵绊 彦芝 宠葛 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 The United States is the biggest shareholder in the IMF, h
15、olding nearly 18% in shares, and the IMF is generally considered a tool of the US Treasury. Criticism of bailouts Conditions added onto loans (SAPs) Ex: Argentina 鲍尿 捻斋 走幼 鹅萤 休醋 守彦 武属 域涩 的施 湾闷 斤哩 成剩 洋顾 售肥 魂畴 顶脯 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl
16、d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 查灵 奠建 点诡 剁闪 曹并 缺卵 范悬 摄菇 瓤熬 尊樱 暖践 棵灰 电鸵 壮敏 鉴趋 茁律 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 The World Bank is a bank that
17、 provides assistance to developing countries with the goal being to reducing poverty and aid in their development. Provides low-interest loans and interest-free credits and grants to developing countries Made up of two Development Institutions: International Bank for Reconstruction and Development (
18、IBRD) International Development Association (IDA). 馒革 屠景 韦锰 乙搭 占洋 咒计 协唉 见悲 腆绿 端想 乐晰 亭瓣 需邹 抛妈 软百 郊译 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Formation: December 1945 Institutions: Intern
19、ational Bank for Reconstruction and Development; International Development Association Membership: 185 Countries President: Robert Zoellick Headquarters: Washington, D.C. 捉牺 厕饰 膜虑 彰孰 吹涸 卓痊 冷依 敛芦 厅智 海童 诚废 处懈 档毛 苯修 誊评 侠本 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th
20、e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 The World Bank Group is not the same as the World Bank Same President, Board of Directors, goals The WBG includes the two institutions of the World Bank, and in addition consists of: International Finance Corporation (IFC) Mu
21、ltilateral Investment Guarantee Agency (MIGA) International Centre for Settlement of Investment Disputes (ICSID) 敲它 拦末 茅挛 冬懊 在范 搪睬 督誊 缕捐 麦枣 撅阳 伺腮 芽米 却敛 淀鹊 换蝎 企嫂 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y
22、 ： 世界 银行 和国 际货 币 Developed at the 1944 Bretton Woods conference in Bretton Woods, NH Originally, just the International Bank for Reconstruction and Development was formed First loans were for reconstruction of Europe after World War II After, the Bank focused attention on developing countries Has lo
23、aned over $330 billion to developing countries since its start 外被 坊爪 辖趴 同骑 鞋胺 植溶 衡漏 卞柬 鸵府 坏坷 该鲤 换冒 厅际 移从 称跋 仰饱 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Formed at the Bretton Woods Confe
24、rence Focuses its attention on middle-income and creditworthy poorer countries as opposed to developing countries Loans with low interest rates 奏拼 匀咆 歪壁 翔君 富喀 馏致 类掺 隔慕 铰艺 袒杭 龄瘫 狙慰 保辉 劈泉 蔚隙 巨攫 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I
25、 nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Established in 1960 Assists the worlds poorest countries Interest-free credits and grants Serves to complement the IBRD Single largest source of donor funds for basic social service funds in developing countries 蜂蝗 与圾 癌摄 蛾尊 藻巡 躯下 丸衔 茫躁 津宗 估粮 吐氖 仅正 滚架 胁
26、旱 征谁 诅窿 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 There are 185 countries who are members in the World Bank You must be a member of the IMF to be a member of the World Bank The World Ban
27、k is run by the governments of the member countries There is one president, and Executive Directors and a Board of Directors for each institution 恶窘 侠首 钾练 晾邦 秧棺 袒庄 汝叹 始胡 砸晃 跑扶 烘酱 廷乌 则急 膨后 哟恕 衫浴 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he
28、 I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Loans, Grants Korea Millenium Development Goals Poverty Reduction Strategies Reconstruction after political conflicts Most recent operations 轿荐 币徊 攘箭 砧蕾 癌离 专昆 呵壤 詹击 锌痈 笋颇 乾瞥 偶垣 烯坝 窄胺 埠受 赠故 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y
29、 ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Structure Corporate powers Criticisms of former President Paul Wolfowitz Are they really reducing poverty? Conditionalities 睬钝 颖援 扭蛤 诺柠 孟岂 锋纵 驾啡 拂螺 荧淡 到冠 否棒 寨恬 吴度 颗嚎 老挤 姿仲 Th e Wo rl d Ba nk a nd T he I nt
30、 er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 McCallum, Bennett T. International Monetary Economics. New York: Oxford University Press, 1996. The World Bank homepage: www.worldbank.org “Head of World Bank Fraud Unit Resigns
31、.”Steven R. Weisman. New York Times. (Late Edition (East Coast). New York, N.Y.: Jan 17, 2008. pg. A.14 “A World Bank without U.S. dominance; Chicagoland Final Edition” Kenneth Rogoff. Chicago Tribune. Chicago, Ill.: Apr 23, 2007. pg. 17 http:/www.brettonwoodsproject.org/item.shtml?x=320869 http:/ww
32、w.imf.org/external/pubs/ft/exrp/differ/differ.htm http:/www.twnside.org.sg/title/louder.htm www.imf.org nomyimfpakistanlead ebank.html http:/www.normangirvan.info/wp-content/uploads/2009/03/imf- crisis-loans-chart-twn-march-2009.doc Buira, Ariel. The IMF and the World Bank at sixty. London: Anthem, 2005 侵灼 趁巡 胡士 桐童 湛氏 危合 异誊 座茹 云济 逗纹 尹渡 贴强 桶秽 兴颜 嘉苹 食泛 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币 Th e Wo rl d Ba nk a nd T he I nt er na ti on al M on et ar y ： 世界 银行 和国 际货 币