GEOG 216 Lecture Notes - International Financial Institutions, Structural Adjustment, Spatial Mismatch
23 Nov 2012
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Refl style of wealthy nats, goal is to make world capitalist. Imf: ifi attempts to promo monetary cooperation + stability globally. Helps nats adjust to temp internat payment probs. Ex: offers shorter-term loans + tech assistance for monetary management. Wb: ifi est to provide longer-term loans for partic projects @commercial rate. Imf + wb rescue package stabilization policies + saps. Slows debtor nats to rewrite/reschedule debts if they: Decrease size of civil service + public spending. Privatize commercial sector, deregulate + liberalize economy. Expand exports + reduce imports to have more foreign revenue to make payments on interest + principal of their debt. Devalue domestic currencies, reduce tariffs + protectionist policies. Open currencies to unrestricted spatial competition globally. Increase influ of market forces relative to state. To control flow of commodities across their borders, often use protectionist policies. In current recessionary world, govs going to focus on taking care of their own pops, puts developing nats in bad situation.
