IGO

• IMF:

  • Founded in 1944
  • Stabalise global currencies after great depression and WW2
• IMF:

  • 2016 = 189 members
  • Vote power proportional to how much they've invested in the fund
• IMF:

  • Top 10 countries hold 60% of vote
• IMF:

  • USA has 16% of voteshare. Japan in 2nd with 6.2%
  • Major decisions must have 85% approval, so US has veto power.
• IMF:

  • Imposes conditions on borrowing such as cutting healthcare spend. Smaller nations have little say
• World Bank:

  • Founded in USA in 1945
  • Finances development and making sure capitalism functions
• World Bank:

  • USA control 16.5% of voteshare
  • Over 40% of voteshare to 8 largest contributors
• World Bank:

  • Financed environmentally damaging project such as rainforest clearence - protests in Belo Monte dam in Amazon caused them to pull out
• WEF:

  • Swiss non profit - promotes public-private cooperation
  • Aims to improve state of world by bringing together businesses, governments and academics
• WEF:

  • Encourages governments to make TNC links by benefitting them with low taxes
• WEF:

  • Must buy a ticket to attend + invite only.
• WTO:

  • Aims to free up global trade + reduce barriers
• World Bank:

  • President has always been American
• WTO:

  • 1 country 1 vote system though no vote has ever occured
  • Decision making by mutual agreement but favours US + EU
• IMF:

  • As IMF condition is having a free market economy + privatisation, TNCs can get into new markets and buy their assets. Such as 2004 EU 10 countries joined - were part of USSR