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International Financial Institutions

Point of View | Unit 2: Lesson 1

Lesson 1

1

The IMF Introduction
Ex. 1 ⟹ Answer the following question

 What is the role of the IMF in the modern world?
Ex. 2 ⟹ Unscrabble the names of the G-20 members
TAYIL
RASSIU
INDSEANIO
AERUENPO NUION
EOXMIC
USOHT CAFIAR
RUEYTK
LCIREBUP FO OAERK
NIAID
NCAADA
CAHIN
UTDNEI GKNMIOD
NETNAARIG
RTALIUSAA
RIZBLA
FNCREA
DSAIU ARAIBA
GEAYNMR
EUINDT ATESST
NJPAA
Ex. 3 ⟹

Try to match the words on the right to the words on the left.

resort

multilateral

freedom

resist

Woods

constrain

governance

indigenous

framework

share

countries

unprecedented

temptation

last

people

partnership
associate

event
problem

Point of View | Unit 2: Lesson 1

Bretton

2

Ex. 4 ⟹

Answer the following questions.

1. When and where was the IMF
founded?
2. What was discussed at the UN
monetary
and
financial
conference?
3. Why did the speech from the IMF
President present a new face for
the IMF?
4. What were the world’s leaders
discussing at the G20 summit in
London?
5. Why did the IMF have to change
radically?
6. What was the attitude of African
ministers to the IMF at the
Tanzania Conference?
7. What is the situation like at
present?
8. What is the job of the IMF now?

1. Most people know the story of flight of the butterfly in Africa leading to ………………………………………....
2. The interconnections do many ………………………………………... 3. The crisis has shown that the bad side could be ………………………………………... 4. There is something about crisis that force people to overcome their differences and come together ………………………………………... 5. The G20 summit trebled the IMF’s resources and that trebling included 50 billion dollar allocation for ………………………………………... 6. After 18 months Britain finally dragged itself out of ………………………………………... 7. The recovery is losing momentum and financial markets are ………………………………………...

8. The IMF, they were a part of the problem, the great struggle now is to ensure that they are ………………………………………...

Point of View | Unit 2: Lesson 1

Ex. 5 ⟹ End the following sentences.

3

Ex. 6 ⟹ Tick the names of the places that were mentioned in the video. In what context?
Context

Davos
Doha
London
Latin America
Kyoto
Tanzania
Argentina
Brazil
Russia
India
China
Africa
Switzerland
Washington

Point of View | Unit 2: Lesson 1

















Place
New Hampshire

4

Ex. 7 ⟹ Read the text about decision-making process in the IMF and fill each of the gaps with a suitable word.

Answer the following questions
1. Do you think the IMF’s decision-making structure would be fairer, or less fair, if it adopted a model similar to that of the United Nations, in which each country has the same voting power as every other? How might such a system alter the level of support for the IMF’s work among various groups of countries (such as low-income countries, emerging markets, advanced economies), and how might that affect the institution’s ability to carry out its mission?

2. What issues arise when an institution like the IMF considers altering its decisionmaking structure? What issues must those in charge take into consideration as they make the necessary decisions? Who are the different groups of stakeholders, and what needs of each must be addressed in the reconsideration process?

Point of View | Unit 2: Lesson 1

The IMF has evolved along ____________ the global economy throughout its long history, allowing the organization to retain its central role within the international financial architecture. ____________, for example, in the General Assembly of the United Nations, where each country has one vote, decision-making ____________ the IMF (and hence the voting structure) was designed ____________ reflect the relative position of each member country in the global economy. Each IMF ____________ country is assigned a...
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