While waiting at the library on Tuesday before the discussion about the presentation I found some information about the International Monetary Fund (IMF) and the G-20:
The International Monetary Fund
-The International Monetary Fund promotes international monetary cooperation and exchange rate stability, facilitates the balanced growth of international trade and provides resources to help members in balance of payment difficulties or to assist with poverty reduction. (taken from www.imf.org)
-Consists of 186 countries
-it is a special agency of the UN and has its own charter, government, and finances
-it keeps track of the economic health of its member countries and alerts them to risks on the horizon and provide policy advice
On the Agenda for the IMF:
1) Emergency lending to emerging markets
-$50 billion to 7 countries
-April 2009-$47 billion to Mexico
2) Helping low-income countries fight the crisis
3) Advocating global fiscal stimulus
-helps to address the problems and how to design effective stimulus packages
4) Reforming international financial system
Some projected statistics for the United States:
GDP-2009= $14,002.739 billion 2010=$14,050.753 billion
Inflation-2009= -0.935% change 2010= -0.084% change
Unemployment Rate-2009= 8.868% 2010= 10.109%
Gross Debt-2009= $12,180.328 billion 2010=$13,697.978 billion
Current Account Balance with IMF- 2009= -393.250 billion 2010= 396.804 billion
About the Group of 20 (G-20)
-It is a group of twenty finance ministers and central bank governors
-It was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy (taken from www.g20.org)
-19 countries plus the European Union
-Created as a response to the financial crisis of the late 1990's
-G-20 economies comprise 85% of global gross national product
-G-20 economies account for 80% of world trade
-Also 2/3rds of the world's population
Works Cited: www.g20.org and www.imf.org
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