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Take me back..way back Made to rebuild Europe 1950’s- Shift towards Development 2000’s- Almost every country a member.

 A group of banks that addresses long-term development issues  Gives long-term loans (e.g years)  Supports major projects  Democratic Board  A single fund that helps countries through a short-term economic crisis  Gives short term loans (e.g. 2-3 years)  Prevents an economic collapse  Voting based on % of money countries give to the IMF

World BankIMF HaitiGranted $13 million to improve governance in June 2009 Granted $25.4 million in June 2008 to help with high food and fuel prices. Dominican RepublicLoaned $27.5 million in April 2009 for a water and sanitation project Loaned $118.3 million in 2007 to help recover from a banking crisis Major ExampleLoaned China $300 million for the NanGuang Railway Project in June 2009 Loaned Ukraine $ 16.5 Billion in November 2008 to help withstand the financial crisis

GoodBad Controlled by Developed Countries Conditions on Loans Structural Adjustment Program (special conditions) Help with large scale development Avoid Currency Crisis

1920’s : GermanyToday: Zimbabwe

Who are they? Canada, United States, U.K., France, Italy, Japan, Germany and Russia

 Group of 8 countries who meet annually to discuss global issues  Started meeting in mid-1970’s (Russia added in 1997)  Meetings last for 3 days: Day 1: Meetings Day 2: Meetings Day 3: Photos!!!  Take place in a different G8 country each year  2010 G8 summit will be in Huntsville, Ontario

 Undemocratic Other countries and organizations do not have a say. There is no voting.  Exclusive India, China, and Brazil have larger economies. Also, wouldn’t a G20 be better?  Non-binding Many of the commitments are not followed through.  Unproductive Agreements are decided on beforehand. It is a big photo- op.

 Thousands participate Meetings of ministers, organizations, and a Junior summit  Some Outcomes Debt relief in 2005 to 14 countries  Causes Conversation A annual re-evaluation of international relations  Affects Everyone Policies affect IMF and World Bank, impact on global initiatives (Kyoto and MDGs)

 Aka: The Free Trade Organization  Born: 1995 Gestation: 47 years  What is it: - Trade Rules - Forum for Negotiation - Resolves Trade Disputes

Free Trade (or Trade Liberalization) is an economic belief that is it best for all countries and the global economy to trade without barriers. Trade Barriers change prices to give one producer an edge over another. They include: ― Quotas (Like the Canadian Dairy Board) ― Subsidies (Like the American Auto Industry) ― Tariffs (Like Duty on Alcohol) ― Sometimes other regulations like labour or environmental controls Trade is Important: 2004 Global Trade: $8.9 Trillion 2004 Global Aid: $79.5 Billion (100x more!) Free Trade on Steroids:

WTO Rules: - No taxes on imports that single out countries. - No restricting the amount of goods that you import (import quotas) WTO Negotiations Process: - One country files a complaint over another for not following the rules - Negotiations and panels take place involving the complainant, the respondent and third parties WTO Dispute Resolution: - A mutual solution found, or WTO makes a finding in favour of one party - Findings or recommendations may or may not be followed -European Community (EC) has import taxes on bananas from certain countries. - EC restricts the amount of certain kinds of bananas that it imports Ecuador, Guatemala, Honduras, Mexico, and U.S. file a complaint against the EC for violating WTO rules Negations and panel discussions take place between the countries. Dominican Republic named as a third party A mutually-agreed upon solution reached where the EC will stop import taxes and restrictions WTO panel found that the EC had not complied with the solution and were not lifting trade barriers on bananas.

 8 goals and 21 targets set by the UN to promote development by 2015  A major initiative in which ALL international developers are taking part  Set in 2000, MDGs use 1990 as a baseline year

MeYouDorothy Drove down a road made with a World Bank Loan Bought a cheap T- shirt due to free trade Made a cheap T- shirt due to free trade Worry about 3% inflation, not 300% inflation Signed a petition about debt forgiveness Can go to school due to debt forgiveness You vote. It is your right.

“The IMF and the World Bank: How do they Differ?” by David D. Driscoll World Bank Website IMF Website World Trade Organization Website UN website Millennium Development Goals Millennium Development Goals Monitor “A Race Against Time: Searching for Hope in AIDS-Ravaged Africa” Stephen Lewis (excellent depiction of the UN, and the AIDS crisis in Africa) Global Policy Forum (gives a good discussion about global financial institutions. It’s page about the Bretton Woods institutions gives information about the World Bank, the IMF, the G8 and the WTO) “Stop the Dumping: How EU agricultural subsidies are damaging livelihoods in the developing world” Published by Oxfam. Wikipedia (good introductory information)