Imf And World Bank Group

The World Bank or the IMF is managed by big economically powerful nations, even though they were created to protect and help countries that are in need . They first look for the benefit of these big countries and try to make other countries dependent on loans.

Based on what I read, the IMF and the World Bank are good organizations. The purpose of them it's to prevent economies crises and when they were founded, help to rebuild economies affected because of war. However, I found one project on the internet shows the opposite. The support for this project from World Bank gave was indirect because one of its own organizations, the International Finance Corp provided loans to an American company

The IMF was established at the Bretton Woods conference in 1944 to provide short term financial assistance to countries experiencing problems with their trade deficit or other Balance of Payments issues, so they could maintain stability in exchange

The World Bank claims to not have been aware of the massacre that occurred in the country and "came to the conclusion that the project affected communities have reached the socioeconomic level they had in 1976 when relocation began" ("Chixoy dam," n.d.). I believe the negative impacts of this project could have been avoided if the World Bank had been more aware of the situations that were going on the country and the land that they decided to build the

The word bank and IMF are the two main global financial institutions that lend money to various developed and developing countries. According to Wolff (2013) these institutions came into being in 1944 after the Bretton woods conference to establish a firm global economy after the world war two. The purpose of these institutions was to stimulate a stable development and offer unconditional loans to nations in economic crisis so as to achieve their developmental needs (Wolff, 2013). However, these never saw the daylight, due to pressure experienced from the US legislatures, also known as the ‘‘Washington Consensus’’ which as a result led the IMF and World Bank to lend money with harsh conditions.

Dams not only preserve water for future use but also can be used as power stations and there are other benefits (such as flood control, irrigation, electrical generation etc.) (FEMA). However, building dams involves massive financial investment from government and also a lot of displacement can occur. As a result, the cost of building dams is very high as it needs massive manpower and compensation for displacing families. Taking a dam (on Grand Coulee, Columbia river) built between USA and Canada as an example, it cost £6.5bn, it has a height of 170 metres, forming a 260 square kilometre reservoir (The guardian). 96000 people were forced to be resettled and there was a loss of some fish species. Most Indian inhabitants were not compensated for 45 years which caused a very bad feeling between government and citizens. As for the benefits, 1,400 farms have been irrigated; there is a big water source for industry and urban areas. Furthermore, huge profits have been made from hydroelectricity, which has a capacity of 6,809 megawatts of power. Overall, precise plans and calculations should be done before making the decision to build a dam.

The United States Export-Bank and the World Bank refused to finance the project because of its disastrous environmental and social consequences such as Water Pollution, Siltation Ecosystem Disruption and Deforestation. In addition the compensation funds amount to 46% of the total project costs for the dam, or $7.15 billion US dollars. In addition to cover the costs they had to look for external funding, which came from the top five investors in the project are Germany, Sweden, Switzerland, Brazil, and

Since then, the IMF’s power and influence as an organisation increased even more after the collapsed of the global monetary rules it was assigned to oversee (Bretton Woods System). In February 1973, when the United States and the world abandoned the short-lived Smithsonian agreement, the entire attempt made to maintain the Bretton Woods fixed exchange rate system collapsed. The world returned to market-determined free exchange rates, the very system the IMF was established to

Both institutions, the World Bank and the International Monetary Fund, were established more than fifty years ago; and the foundations of both were expected to play roles in stabilizing the frustrated global economy and aiding post-war European countries as well as other developing countries for economic progress. In the first three decades, both institutions had their own respective functions and extensively engaged in different economic and financial activities. In general, the World Bank primarily concentrated on making long term loans to finance infrastructural projects in developing countries, as the IMF mainly provided economic consultation as well as short-term loans to both

The IMF was established in 1945 by the United Nations to improve the health of the world economy. It was designed in order to avoid the catastrophic economic policies that had contributed to the Great Depression in the 1930s. The IMF is an international organization comprised of 184 member countries. It was established with the goal in mind of promoting international monetary cooperation in order to stimulate economic growth and provide temporary financial assistance to countries to help alleviate problems associated with debt. Acting as the central institution of the international monetary system, the IMF?s main objective is to prevent crises in the system by advising countries to implement reliable economic policies. It also provides funds that

In September 23, 2003, the World Bank Group and the Board of Governors of the International Monetary Fund (IMF) meet in Dubai to discuss the work of their respective institutions in international monetary and development issues. This meeting was worth its high expense when the discussion were centered on these institutions ' own reform rather than on how they should intervene in developing countries.

Dam-building, even if aiding in a nation’s economic growth, has adverse repercussions on the environment, including loss of biodiversity, population displacement, and leakage of water from the reservoir (Al-Homoud et al., 1995). With the development of economies around the world, in the 20th Century many countries have adopted the construction of dams to push the growth even higher. However, some countries were not recommended to start this new source of energy for different reasons. One of the main examples is Afghanistan. This country wasn’t ready for such a drastic change for three main

This paper explores the World Bank’s support for the construction of the Nam Theun 2 Dam, located in the Lao People 's Democratic Republic (Lao PDR), in Southeast Asia. The problems created by this project are examined along with the question of whether or not international financial institutions (IFI), such as the World Bank (herein after referred to as

The IMF was established in 1945, having first been conceived at the Bretton Woods Conference in New Hampshire, USA in 1944. That conference saw representatives from forty four allied nations gather to craft new rules and institutions to regulate the chaotic global economy – blamed for the Great Depression and for helping cause two World Wars. The outcome was the Bretton Woods Agreement which created two new multilateral institutions: the International Bank for

India joined International Monetary Fund (IMF) on 27 December, 1945. The relationship between India and the IMF dates back to the time when India needed economic reform packages to strengthen its international reputation and fiscal policy. It is among one of the developing economies that effectively employed the various Fund programmes to fortify its fiscal structure. Through productive engagement with the IMF, India formulated a consistent approach to expand domestic and global assistance for economic reforms. Whenever India underwent balance of payments crises, it sought the help of IMF and in turn the internationally recognized reserve willingly helped India to overcome the difficulties.