POLB90H3 Lecture Notes - Lecture 11: Bretton Woods System, Structural Adjustment, Debt Relief
Document Summary
O 44 nations got together: first nation affairs until 1971 until nixon unlinked it. Bretton woods institutions (bwis: fixed exchanged rate pegged the us dollar and gold link to us dollar effective. The world bank, the imf and the politics of structural adjustment. Post-war restructuring and bretton woods (1944: a system of international monetary management established the rules for commercial and financial relations among the world major industrial nations. = now involved in policy decisions and condition lending on domestic policy and structural change. Solution: 1 country 1 vote = global south is bigger so that wouldn"t. Record meetings in order to see who agrees to what, or make be favorable to the us records public. Have civil society members = brings protesters inside. Ineffective and incompetent: 20 years and their structural adjustment plan hasn"t been too successful, in africa, individual country success but overall = not too much growth, in l. america = most money goes to debt repayment.