Paying attention to what is happening in the world is a key futurism skill. If you have read my material on Futurism you know I have mentioned the subject of environmental scanning before. For those of you unfamiliar with this topic environmental scanning is the ongoing year round process of looking for trends and events that may have implications for your organization. It is paying attention to a set of factors that have will have an impact on you and the world.
Some of the conditions for structural adjustment can include: Cutting expenditures, also known as austerity. Focusing economic output on direct export and resource extractionDevaluation of currencies, Trade liberalisationor lifting import and export restrictions, Increasing the stability of investment by supplementing foreign direct investment with the opening of domestic stock marketsRemoving price controls and state subsidiesPrivatizationor divestiture of all or part of state-owned enterprises, Enhancing the rights of foreign investors vis-a-vis national laws, Improving governance and fighting corruption.
These conditions are known as the Washington Consensus. Benefits[ edit ] These loan conditions ensure that the borrowing country will be able to repay the IMF and that the country will not attempt to solve their balance-of-payment problems in a way that would negatively impact the international economy.
This indicates that IMF lending does not impose a burden on creditor countries, as lending countries receive market-rate interest on most of their quota subscription, plus any of their own-currency subscriptions that are loaned out by the IMF, plus all of the reserve assets that they provide the IMF.
This led to the devaluation of national currencies and a decline in world trade. The representatives of 45 governments met at the Bretton Woods Conference in the Mount Washington Hotel in Bretton Woods, New Hampshirein the United States, to discuss a framework for postwar international economic co-operation and how to rebuild Europe.
There were two views on the role the IMF should assume as a global economic institution. American delegate Harry Dexter White foresaw an IMF that functioned more like a bank, making sure that borrowing states could repay their debts on time. British economist John Maynard Keynes imagined that the IMF would be a cooperative fund upon which member states could draw to maintain economic activity and employment through periodic crises.
The increase reflected in particular the attainment of political independence by many African countries and more recently the dissolution of the Soviet Union because most countries in the Soviet sphere of influence did not join the IMF.
This is known as the Nixon Shock. Since [ edit ] The IMF provided two major lending packages in the early s to Argentina during the — Argentine great depression and Uruguay after the Uruguay banking crisis.
Property taxes are equitable and efficient, but underutilized in many economies There is considerable scope to exploit this tax more fully, both as a revenue source and as a redistributive instrument. The former Czechoslovakia was expelled in for "failing to provide required data" and was readmitted inafter the Velvet Revolution.
Poland withdrew in —allegedly pressured by the Soviet Union —but returned in Members needed to make periodic membership payments towards their quota, to refrain from currency restrictions unless granted IMF permission, to abide by the Code of Conduct in the IMF Articles of Agreement, and to provide national economic information.
However, stricter rules were imposed on governments that applied to the IMF for funding. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
February Learn how and when to remove this template message Board of Governors[ edit ] The Board of Governors consists of one governor and one alternate governor for each member country.
Each member country appoints its two governors. The Board normally meets once a year and is responsible for electing or appointing executive directors to the Executive Board. While the Board of Governors is officially responsible for approving quota increases, Special Drawing Right allocations, the admittance of new members, compulsory withdrawal of members, and amendments to the Articles of Agreement and By-Laws, in practice it has delegated most of its powers to the IMF's Executive Board.
The International Monetary and Financial Committee has 24 members and monitors developments in global liquidity and the transfer of resources to developing countries. They also advise on trade and environmental issues.
The Executive Directors represent all member countries in a geographically based roster. The Executive Director representing the largest constituency of 22 countries accounts for 1.Watch the video above or read the blog below to learn the Top 10 HR Mistakes!
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Human Resources & Employment Law. The items listed below are all of those matching the criteria you have selected: Human Resource Management. Fideisms Judaism is the Semitic monotheistic fideist religion based on the Old Testament's ( BCE) rules for the worship of Yahweh by his chosen people, the children of Abraham's son Isaac (c BCE)..
Zoroastrianism is the Persian monotheistic fideist religion founded by Zarathustra (cc BCE) and which teaches that good must be chosen over evil in order to achieve salvation.