IB outcome: Examine the influence of governments, world trading organizations and financial institutions (such as the World Trade Organization, International Monetary Fund and World Bank) in the transfer of capital.
Research one of the following organization: WTO, IMF or World Bank and present the organization’s:
- History: 1 paragraph
- Official goal of the organization
- Aid and loan statistics: How much do they loan and to which country?
- Explain three benefits of their involvement on the world financial system
- Explain three criticism of their involvement on the world financial system
Part 2: Jamaica and the IMF
- Read Windsor p. 22 to 32
- Life and Debt documentary by Stephanie Black. Based on the book by “A Small Place” by Jamaica Kincaid. Official Website
- Further reading:
As you read Windsor and watch the documentary, take detailed notes on:
- Causes of Jamaica’s economic problems. Classify them as external and internal
- Major players
- The IMF’s Structural Adjustment Program (SAPs) on Jamaica
- The Role of the WTO
- Currency Devaluation – Theory, cause and consequence
- Other external factors influencing Jamaica’s Economy
- Free Trade Zones
- The effect of the removal of trade barriers on Jamaica’s economy
- The Jamaican Banana industry
You will have a paper-3-style in-class essay on this case study after the break.