POLI 319 Lecture Notes - Lecture 13: International Financial Institutions, Structural Adjustment, World Bank
28 May 2016
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Document Summary
Founded by the us and europe in 1944. 2- world bank and international monetary fund (also known as bretton-woods institutions) 4- began lending to third world in 1960s. The ifi were founded to generate post-war economic building but by 1960s they turned more towards the global south rather than dealing with europe. They were involved in latin america"s political economy. These ifi are strictly us and europe controlled. Imf and world bank do not seek representation of the global south; leadership firmly situated in the global north. Countries that were experiencing economic growth in the 60s and had hope faced contractions in their economies. 1- world bank, imf lending to southern countries took off after 1973 oil crisis. In the 1980s lower global prices for primary commodities triggered lost decade for global south. 3- countries became highly dependent on world bank and imf loans. Ifi loaned a lot of money to the developing south.
