Page 256 - DMGT401Business Environment

Rupesh Roshan Singh, Lovely Professional University Unit 12: International Monetary Fund

Unit 12: International Monetary Fund Notes

CONTENTS
Objectives
Introduction
12.1 International Monetary Fund (IMF)
12.1.1 The Origins of the IMF
12.1.2 The IMF's Purposes

12.1.3 Organization of IMF
12.1.4 Financing of the IMF
12.1.5 Criticism of IMF
12.2 International Bank for Reconstruction and Development
12.2.1 Purpose of Organization
12.2.2 Activities of IBRD
12.2.3 Organisation of World Bank

12.3 Summary
12.4 Keywords
12.5 Self Assessment
12.6 Review Questions
12.7 Further Readings

Objectives

After studying this unit, you will be able to:
Explain the role of International Organisations

Discuss the financial of IMF

Introduction

Growing Importance of International Business Environment: In the recent past, many meanings
of the word 'globalisation' have accumulated. The word 'globalise' was first attested by the
Merriam Webster Dictionary in 1944. To consider the history of globalisation, some authors
focus on events since 1492, but most scholars and theorists concentrate on a much more recent
past.

Long before 1492, people began to link together disparate locations on the globe into extensive
systems of communication, migration, and interconnections. This formation of systems of
interaction between the global and the local has been a central driving force in world history.

In 325 BC Chandragupta Maurya becomes a Buddhist and combines the expansive powers of a
world religion, trade, economy, and imperial armies for the first time. Greeks (Selukas) sue for
peace with Chandragupta in 325 BC at Gerosia, marking the eastward link among overland
routes between the Mediterranean, Persia, India, and Central Asia.

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