International Financial Institutions
International Financial Institutions, or IFIs, are financial institutions established by more than one country and supposedly subject to international law. Most were established after World War II to maintain US and European economic supremacy through the management of the global financial system. However, most recognizable IFIs like the World Bank and IMF have drastic affects on nations' economies.
Most notably,IFI's Structural Adjustments Programs often have demolished the economic sustainability, social services, and sovereignty of client states while bolstering wealthy transnational corporations.
Keywords: IMF, World Bank, IDB, structural adjustment, hegemony, transnational
corporations
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Extra: audio link - Confessions of an Economic Hit Man
International Governmental Organizations
International Governmental Organizations, or IGOs, are organizations of sovereign states established by treaty and subject to international law.
Yet the World Trade Organization, as one example, enforces a corporate agenda of unrepresentative officials that overlooks public accountability, favors property rights over human rights, and intervenes on behalf of the wealthiest nations.
Links: GATT, WTO, subsidies, most favored nation clause
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