International Monetary Fund ( Imf ) And World Bank

International Monetary Fund (IMF) and World Bank are both international financial institutes that where formed in July 1944 by the United Nation in Bretton Woods, United States. They are sometimes referred to as The Bretton Woods Institutes. They are both landers of last resort and they both offer loans and help countries design policy programs to solve balance of payments problems when sufficient finance cannot be obtained by the country. IMF offers short and medium term loans whilst World Bank offers long term loans. The World Bank, as an institute that offers loans and help countries design policy that will improve human wellbeing, offered to help Zimbabwe improve its economy and balance of payments in 1992. The program was referred to as Economic Structural Adjustment Program (ESAP) and it was a policy designed by the World Bank itself. After independence, the government of Zimbabwe invested heavily on education and health sectors through parastatals, in rural areas development and the productive sectors. This led to an increased public sector which made up of forty-five percent of the gross domestic product (GDP). The government of Zimbabwe accepted the policy and the World Bank issued US$125 million as Structural Adjustment Loan and another US$50 million as Structural Adjustment credit. The program was suppose to run for five years and the goals where to reduce government spending s, promote high growth and to reduce poverty and unemployment. This was going to beShow MoreRelatedInternational Monetary Fund : The Imf And The World Bank1252 Words   |  6 PagesThe International Monetary Fund, otherwise known as the IMF and the World Bank are two of the most economic organizations. While they are both economic organizations, they have different objectives. In order to understand these objectives, one must know why these organizations were formed and what if anything they have accomplished. Based on said accomplishments and also based on their initial goals, one can infer which of the two has been a success. Therefore, it can be said that when it comes toRead MoreInternational Monetary Fund ( Imf ) And The World Bank948 Words   |  4 Pagesfrom the International Monetary Fund (IMF) and the World Bank†. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996. In 2001 Ghana declared itself as heavily indebted poor country, according to the then president John Agyekum Kuffour, the decision of Ghana to be part of this initiative was mainly because of the poor state of the economy. As a result of this the nation was expected to receive a total of 253 million dollars of IMF and the World Bank to helpRead MoreInternational Monetary Fund ( Imf ), World Trade Organization ( Wto ) And World Bank934 Words   |  4 Pages and Israel are members of the International Monetary Fund (IMF), World Trade Organization (WTO) and World Bank. These organizations in their own right are trying to improve the economy by facilitating internationals trading (IMF) , reducing poverty around the world (IMF), ensuring that trading flows smoothly and freely (WTO) and providing financial advice to assist in economic advancement (World Bank). Countries that are members of the IMF, WTO and World Bank, in my opinion believe that workingRead MoreThe Impact Of Global Financial Institutions Such As The World Bank And International Monetary Fund ( Imf )2179 Words   |  9 PagesThis essay aims to explore and critically analyze the impac t of the global financial institutions such as the World Bank and International Monetary Fund (IMF). There was a discussion on reasons for the establishment of the institutions. An examination using various illustrations of the conditions these institutions impose on borrowing countries. Developing countries in the sub-Sahara Africa and, in particular, Senegal will be used to explore dealing with above institutions and their outcomes. ItRead MoreThe International Monetary Fund And World Bank Group1644 Words   |  7 PagesThe International Monetary Fund and World Bank Group The International Monetary Fund (IMF) and the World Bank have had enormous impact upon the world’s economies since their inception, after World War II. Although each of these organizations has a similar history, their role, objectives and funding are unique. These Washington DC-based organizations have drawn more than their share fair share of criticism as well as praise. Modern nations require thoroughly understand of these organizations. TheRead MoreInternational Monetary Fund And The World Bank1679 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreThe Imf, Wto, And World Bank1053 Words   |  5 Pagescontrast the IMF, WTO, and World Bank The World Bank was founded at the Bretton Woods Conference in 1944. The bank was first known as the International Bank of Reconstruction and Development. Their founding mission was to help countries during a post-war World War II era rebuild and reconstruct. They did this by providing loans to countries who had been destroyed during wars. Their first loan was made in 1947 to France to rebuild following World War II (World Bank Group). The World Banks’s missionRead MoreMonetary Fund And The World Bank1554 Words   |  7 Pagesnternational Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these international financial power institutionsRead MoreInternational Monetary Fund And The World Bank1561 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead More Role of IMF and World Bank Essay example1433 Words   |  6 Pages Introduction The world’s major international financial institutions represent paradoxical ideals in their quest to satisfy the needs of both developed and developing nations. These institutions are chartered with helping poor nations but are criticized for their neo-colonial policies. Member nations are all considered equal, but contributions make some more equal than others. Mostly, these organizations are managed by rich nations that usurp the autonomy of developing nations in the pursuit

Life today is better Free Essays

Modern life is very different from life 50 years ago. Some people think the changes were positive changes while some people thinks the changes were negative changes. It Is true; life 50 years ago is simpler than life now. We will write a custom essay sample on Life today is better or any similar topic only for you Order Now 50 years ago, the pace of life is slower and family could spend their time together longer. They could attend family occasions like wedding and Did. Besides, 50 years ago, the living cost Is lower than now. They Just spend a few ringlets per day to buy groceries and consumer Items or they can Just grow vegetables or raise animals Like chicken, cow or goat as their food sources. Notwithstanding, I think life today Is much better than It was 50 years ago. Life today has a higher technology. First of all, technology brings about a great many convenience and amenity. When we need to contact people, we use cellophanes to call them, we can fax them, we can send an e-mail to them or we can make a video call with them. Nowadays, we have Internet that direct us to Backbone, Twitter, Keep and other application that can be used to connect with people. Besides, we can search for worldwide information in the internet. When we want to abroad a flight, all we need o do is just call the flight ticket agency and buy the tickets online. Using smoothness, everything is much easier as everything is Just on your fingertips. Hence, we can say that with the advancement of technology, life today is better than years ago. Other than connecting with people, internet has thousands of uses. We even can make money using the internet as an example Madam. Com that helps people to sell and buy items in the internet in Malaysia. Next, we have e-Bay which is a site that can be used to pay bills and stuffs. Then, communication is also one of the factors to prove that life today is better than it was. As what we can remember, 50 years ago people didn’t have the modern vehicle to move from one place to another place. If before, people usually walk, or uses bull carts or sampan to move but now, we have variety of cars, airplane, train, buses and lorry to get us to our destination. More advances, we also have ALERT, Commuter and MR. as our public transport to send us to our destination faster and more convenience. This proved that life today is better than it was years ago. Next, human rights today is been uphold more than 50 years ago. Now, women can do what they want to do. They can have the career that alt with their passion and interest. They can go out and socialize with their friends. If we look 50 years ago, women is Just a wife that act as person who do the house chores and the one who got to take care of their children and husband and. They even can’t go out easily without the permission of their husband. Women 50 years ago usually were forbidden to continue their studies or work In the Job of their Interest. However, nowadays we can see women as the top people In the world In many fields. Equally Important Is the children’s right. Children’s rights are to get loves from their parents. They also have the rights to go to school and study. However, children’s 50 years ago works as a slave. Their rights’ on their education was not been concerned. As have been said, the human rights’ today is much better than 50 years ago. As conclusion, life today is better than it was 50 years ago. Nowadays, people live with high technology that eases their daily works. Nowadays, we have modern that help us to connect with people. Today, human rights’ had been upheld. There are no more women or children that had been treated the way that suppress or oppress them. In other word, life today is totally mush better than it was 50 years ago. How to cite Life today is better, Essays

Corporate Social Responsibilities & Ethics-Samples for Students

Questions: 1.Identify and briefly describe two major ethical issues from the article titled Enron Ethic. 2.Do you think that Kelloggs CSR statement is sincere, or is the company merely trying to convince stakeholders that it is a socially responsible company? 3.Fair trade can sometimes be grounded in the assumption that it helps to address slave labour and give fair returns to farmers. What other perspectives on fair trade could be considered? Do corporations have a responsibility to the global community? Answers: 1.The two major ethical issues faced by Enron were allowing the employees to be aggressive instead of being tactical and the second ethical issue caused at Enron was its false projection of its subsidiaries as its partnerships. The management of Enron led by CEO Jeffrey Skilling encouraged the employees to be aggressive and push limits of ethics. The employees started executing their business operations in unethical methods and the senior managers did not take any step against them. The apex management distorted the financial statements and misrepresented the transactions(Sims and Brinkmann 2003). Enron in order to accumulate huge wealth entered into pseudo-partnerships and started earning revenue by selling its assets and recycling it back into the capital to project misleading figures before the shareholders. The company acquired revenue from the subsidiaries to earn unethical revenue. Enron made its subsidiaries ships look like partnerships to dupe the Securities exchange commission. The company got its pseudo-partnership companies financed by bits own subsidiaries which were in reality illegal as per laws set by the Securities Exchange Commission(Simpson and Brody 2013). The discussion presents two ethical issues and they can be considered major becaue they breach stakeholders like the Securities Excahnage Commisions(SEC) trust and the shareholders interest.. The first ethical issues was following an aggressive business approach by the employees and no ethical actions taken by the apex management. The second ethical issue was forming false partnership which were in reality subsidiaries. The employees in case of the first issue distorted financial reporting and showed inflated revenue which breached the interest and trust of the shareholders(Securities and Exchange Commission 2017). The projection of false partnerships caused breach in the laws of partnership formed by SEC. Thus it can be inferred that Enron by its fraudulent and unethical business operations breached stakeholders interests and created major ethical issues. 2.Kellogs Company is merely trying to convince the stakeholders that it is a socially responsible company. Kellogs in a multinational break cereal company which is headquartered in the United States of America. The company operates in the international market and faces stiff competition from international competitors like Nestle and also from local competitors. The multinational companies often use their corporate social responsibilities to create a healthy image in the market, attract customers and partnerships and earn higher profits(Kelloggcompany.com. 2017). The discovery of high sugar content and low protein content in its food products which harm the health of the consumers clearly shows that Kellogs in reality is not socially responsible and uses its CSR to convince stakeholders about its responsible image. An assessment of the CSR statement of Kellogs against the Kantian theory shows that the company does not follow the theory. The corporate social responsibility statement of kellogs shows that the company aims to benefit its consumers by providing healthy food products. The Kantian theory states that the companys must produce products which would benefit all the users and they should not the consumers to sell their products and earn profits. An evaluation of the Kantain theory shows that Kellogs merely sells food products which are not healthy and merely appears to be healthy. Hence, it can be inferred that Kellogs breaches the Kantian theory and offers unhealthy products to earn profits(News.bbc.co.uk 2017). 3.It is assumed that Fair Trade can help the farmers get legitimate returns for their produce and deal with slavery, however fair trade can also be viewed as means to achieve sustainable economic development of the producers of raw materials. Fair Trade is a movement which promotes that the agriculturists who provide the multinational companies with their raw materials like milk, corn and cereals should get legitimate and guaranteed returns for their produce. This guaranteed return will help the agriculturists to acquire resources like high quality seeds to maximise their produce. This will help the farmers to sell the produce and earn good revenue which will contribute towards their social and overall development. Thus, Fair Trade can promote sustainable development of the producers and elevate their social conditions(Fairtrade.net 2017). Corporations are responsible to the global community because they gain all the resources from the producers who are a part of the society. They owe their financial strength to the shareholders who invest in their shares. They sell their goods to the consumers in order to generate profits and competitive advantage in the market. The companies acquire human resources who form business strategies and execute them. It can be pointed out that shareholders, consumers and employees are components of the global community. Thus, it can be inferred from the discussion that the corporations are dependent on the global community for production of goods, generation of revenue and their very sustenance. Hence, they are having responsibilities towards the global community(Cheng, Ioannou and Serafeim 2014). References: Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social responsibility and access to finance.Strategic Management Journal,35(1), pp.1-23. Fairtrade.net. 2017. Fairtrade International (FLO): Child and Forced Labour. [online] Available at: https://www.fairtrade.net/programmes/child-labour.html [Accessed 25 Aug. 2017]. Kelloggcompany.com. 2017. Kellogg Company | Corporate Responsibility Report. [online] Available at: https://www.kelloggcompany.com/en_US/corporate-responsibility.html [Accessed 25 Aug. 2017]. News.bbc.co.uk. 2017. BBC News | HEALTH | Cereal bars 'unhealthy'. [online] Available at: https://news.bbc.co.uk/2/hi/health/1613141.stm [Accessed 25 Aug. 2017]. Securities and Exchange Commission. 2017. Registration of Partnership - Securities and Exchange Commission. [online] Available at: https://www.sec.gov.ph/services-2/company-2/registration/primary-registration/partnership/ [Accessed 25 Aug. 2017]. Simpson, S.V. and Brody, K., 2013. The Evolving Role of Special Committees in MA Transactions: Seeking Business Judgment Rule Protection in the Context of Controlling Shareholder Transactions and Other Corporate Transactions Involving Conflicts of Interest.Bus. Law.,69, p.1117. Sims, R.R. and Brinkmann, J., 2003. Enron ethics (or: culture matters more than codes).Journal of Business ethics,45(3), pp.243-256.