Imbalances pur

Carries out dear countries

Growth member operations

Policy encourage provides

Focused per financed

B) Sum up the text in 5-7 sentences and present your summary in class.

A) Fill each gap with a suitable word from the box.

c) Describe the World Bank’s activities. Say how they differ from those of the IMF.

board set up establishment

World Bank – International Bank for Reconstruction and Development (IBRD)

The “World Bank” refers to the International Bnak for Reconstruction and Development (IBRD) and its affiliate, the International Development Association (IDA). The Bank was __________ together with the INF by the Bretton Woods Conference of 1945 as an international bank for two ________: to help finance the rebuilding of war-devastated areas and to ad in the advancement of less-developed _________.

Operations started in 1946. the Bank is ________ partly by contributions paid by _________ countries, partly by bond issues. The national contributions constitute the bank's capital and relate to the individual countries' share of world trade. The bond issues finance the lending ________ of the bank.

In financing the economic _________ of member countries the International Bank complements the IMF, which finances temporary balance of payments __________. Loans are made to governments or government-guaranteed entities. Besides lending funds, the Bank __________ technical advice to governments or other borrowers on a wide range of development problems. It __________ general economic surveys for governments wishing to study resources and to plan long-range _________ of development.

At first devoted to the rconstruction needs of industrial countries the World Bank by the 1950s had _________ its attention on the developing world. In 1956 the IBRD formed the International Finance Corporation (IFC) the purpose of which was to ______ growth in the private sector of developing countries and to mobilize domestic and foreign capital for this purpose. In 1960 the IBRD __________ the International Development Association in order to assist the poorer
developing countries (those with an annual _________ capita GNP of less than $731 in 1980 prices). Loans to these countries __________ no interest and are repayable over 50 years with an initial grace period of 10 years.

The Bank's strategy has been to ensure that its aid reaches the broad masses of the people; this is to be done by investments encouraging productivity and integrating the broad masses of people as active partners into the development process.

The powers of the Bank are vested in a ___________ of Governors.

Words you may need:

affiliate – філія

war-devastated areas – території, розорені вйною

bond issue – випуск облігацій

complement – доповнювати

survey – обстеження

International Finance Corporation – Міжнародна фінансова корпорація

repayable – що підлягає поаення (слаті)

grace period – пільговий період

integrate – інтегрувати, включати, утягувати

vest – наділяти владою

ž TESTS

I. Match what statements are true and what are false. Results write to the table:

3. A movement in the exchange rate may benefit an individual in one of his roles but leave him worse off in another.

4. Business activity is not influenced by international monetary conditions.

5. There is no interest in the functioning of the international monetary system.

6. The international system is concerned only with the supply of international money.

7. The main problem in the functioning of the international monetary system is that the nations that participate in it are politically interdependent but economically independent.

8. The channels which transmit the impact of monetary events to people are numerous.

Table

True
False

II. Fill the tables:

a)

b)

c) What does the abbreviation mean?

I

M

F

G
A
T
T

O

E

C

D

B

I

S

U
N
C
T
D

W
B
G

E
F
F

ìUnit 7

Дата добавления: 2014-11-29