International Organizations

International Monetary Fund (IMF) –Lends to countries with balance of payments problems –Pushes for economic reforms IMF only lends money if countries agree to: –Sell their resources cheaply and cut public spending –Critics say this serves to increase the problems of poverty in poor member countries

International Organizations World Bank –Aims to help development by advising and lending – with many conditions –Countries encouraged to lift import and export barriers, cut subsidies and remove price controls World Bank –Leads to rapid increase in price of goods in country –Increases poverty –Lower investment and cut social spending

International Organizations World Trade Organization (WTO)? –The WTO deals with the rules of trade between countries –WTO agreements set the ground rules for international commerce Criticisms –Only serves interests of multinational corporations –destroying the environment –Undermines local development and penalizes poor countries

International Organizations United Nations (UN) –maintaining international peace and security –developing friendly relations among nations and promoting social progress –better living standards –human rights Inability to handle international conflicts Support of globalist philosophies.

International Organizations European Union –An organization of independent European nations –Work to eliminate trade barriers or restrictions Created lower economic growth Creates inflation and unemployment

International Organizations Organization of the Petroleum Exporting Countries (OPEC) – coordinate and unify the petroleum policies of its Member Countries –ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers –a steady income to producers and a fair return on capital for those investing in the petroleum industry. Leads to political tensions between Middle Eastern countries Leads to oil shortages due to political tensions Leads to conflict in the area (Persian Gulf War)

International Organizations North American Free Trade Agreement (NAFTA) –Composed of Canada, the United States and Mexico –Established to eliminate trade barriers and promote trade Those who oppose NAFTA state that Americans will loose their jobs, it hurts the environment and violates workers’ rights Those who are for NAFTA state that the increase in trade will stimulate growth and more low-cost goods were be available

- Created by Anne Proctor and Melissa McGready