scholarly journals BRICS Countries: Participation in the Governance Reform of the International Monetary Fund and the World Bank Group. What are the Results?

2019 ◽  
Vol 12 (3) ◽  
pp. 58-67
Author(s):  
L. N. Krasavina
Keyword(s):  
World Bank ◽  
World Bank Group ◽  
Governance Reform ◽  
Brics Countries ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund ◽  
The Imf

The article analyzes the BRICS countries’ participation in the management reform of the International Monetary Fund and the World Bank Group as an institutional framework of the Jamaica Monetary System (Jamaica Plan 1976). As the novelty of the study, the author considers this problem in the context of the transition from interstate regulation to global financial and economic regulation. The definition proposed by the author (broader than the term “global financial regulation”) is due to a new assessment of the financial risks. The article substantiates the participation of the BRICS countries (as well as all members of the IMF and the World Bank) in the reform and the interest in the relative stabilization of the world economy and Finance. The author grounded the assessment of the group of 20 (G20) as the initiator of this reform in the context of the global crisis and the gradual weakening of the control of the implementation of the recommendations of the summits. Based on the position of the G20 on an integrated analysis of the role of the Bretton Woods institutions in the Jamaica Plan 1976, the author gave a comparative description of the relationship of their functions and role in the functioning of the two global currency systems over 70 years. The author made conclusions about the effectiveness of the BRICS countries’ participation in the IMF and the World Bank Group governance reform regarding the increase of their share in quotas and votes, and their representation in the form of appointment of their own Executive Director to the IMF Executive Board. It has been revealed the negative impact of the transformation of the role of these institutions in the global financial and economic regulators in connection with the introduction of integrated currency supervision over the preparation and use of the sovereign currency reserves of the countries. Summing up, the author formulated proposals for further strengthening the positions of the BRICS countries in the management of the IMF and the World Bank on the basis of improving the new formula for calculating quotas introduced in 2008.

scholarly journals POST-SOVIET ROOTS OF UKRAINE’S INTERNATIONAL FINANCIAL PROBLEMS

2017 ◽  
pp. 444-458
Author(s):  
Borys Soboliev
Keyword(s):  
World Bank ◽  
World Bank Group ◽  
Financial Problems ◽  
Public Finances ◽  
The Core ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The Imf

Ukraine has inherited a whole array of international financial problems from the USSR. The USSR problems with public finances were transmitted to all states-successors, Ukraine included. Joint and several liabilities for the successors failed under the «0 option» solution which had deprived successor’s states of all liquid assets conquered by Russia. Ukraine had nothing to do with the collapse of the Ruble zone because Ukraine had been made by Russia to leave that zone. The Paris and London clubs of creditors have nudged Ukraine into the Breton Woods institutions. 25 years of 6 various programs with the IMF and the World Bank Group have not yet produced an anticipated effect. The committed billions in fact were disbursed up to 30-40%%. The author put some efforts to investigate the core reasons.

The Role of the World Bank in the World Politics on the Example of Providing Education on the Global Level

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Natalia BERUASHVILI ◽  
Nika CHITADZE
Keyword(s):  
World Bank ◽  
World Politics ◽  
World Bank Group ◽  
Global Level ◽  
Global Partnership ◽  
The World Bank ◽  
The World ◽  
Education Strategy ◽  
Bank Group

The paper explores the main principles of the World Bank Group functioning on the global level and its role in promoting education in different Regions of the World. Particularly, such various aspects related to education are analyzed as: unequal development of the level of education in different states, which represents one of the key problems for the World Bank; the role of the World Bank in resolving the problems of education, especially in the countries of ‘Global South’; the functions of the Global Partnership for Education (GPE); Collaboration between World Bank Group and GPE; World Bank Education Strategy 2020; Innovations, which have been introduced by the World Bank in the system of education, etc. 

scholarly journals Economic crisis impact on international financial institutions: The necessity for reforms

2013 ◽  
Vol 65 (2) ◽  
pp. 160-184
Author(s):  
Pero Petrovic ◽  
Zeljko Jovic
Keyword(s):  
Economic Crisis ◽  
World Bank ◽  
International Monetary Fund ◽  
Financial Institutions ◽  
World Bank Group ◽  
International Financial Institutions ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund

The emergence and deepening of the global economic crisis is reflected in large part on the functioning of international financial institutions and their current structure. The long-term financial crisis has placed demands for decisive reform moves in the functioning and structure of the IMF, the World Bank Group and other global and regional financial institutions. This means that so far, the results of their policies have been inadequate and that their role is subject to critical observation finding an efficient performance of financial markets. The crisis has imposed the need to reform international financial institutions and the new global financial architecture. Changes in structure and their functioning should lead to the global economic stability. Members of the Euro zone are faced with a new attitude towards the international financial institutions and the International Monetary Fund, in particular. The proclaimed missions of the International Monetary Fund and the World Bank are clearly separated in theory, but with the passing of time, their activities have become increasingly intertwined, so that they often include a name - international financial institutions.

scholarly journals The Effects of Export Expansion Policy in Poland in the Context of Recommendations of Global Organizations

2019 ◽  
Vol 22 (2) ◽  
pp. 69-85
Author(s):  
Zofia Wysokińska
Keyword(s):  
World Bank ◽  
International Monetary Fund ◽  
World Bank Group ◽  
Global Organizations ◽  
Analysis And Evaluation ◽  
The World Bank ◽  
Export Expansion ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund

The aim of this paper is to present the results of an analysis and evaluation of the implementation of one of the tasks of the Strategy for Responsible Development (SRD) until 2020 (with a perspective up to 2030), adopted in Poland, which should increase Poland’s foreign expansion. The paper attempts to present these results in the context of diagnoses, forecasts and recommendations (developed by experts of global organizations) regarding macroeconomic policy directions for the coming years recommended for member countries of such organizations as the International Monetary Fund, the World Bank Group, the OECD and UNCTAD/UN.

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