International Organizations

The process of globalization evident in recent years has given rise to a renewed determination by governments to cooperate in order to ensure their own economic and political stability. Governments work together to strengthen international security and to perfect the existing economic, political and trading arrangements.

In part they do so through such policies as marketing assistance, financing and tax exemptions for exports.

In part they do so through support of international institutions like the United Nations Organization and intergovernmental agencies related to it – the International Monetary Find (IMF), the World Bank, and the World Trade Organization(WTO).

• The UK is an international organization that encourages countries to work together in order to solve world problems. If officially came into existence on 24^th October, 1945.

• The International Monetary Fund (IMF) was set up on December the 27^th 1945 to promote a stable international financial system. It sets rules for foreign exchange markets. It also serves as a lender to countries with temporary foreign payments problems.

• The World Bank (officially, the International Bank for Reconstruction and Development) is a means of channeling capital from developed countries to those that are less developed. The World Bank makes loans at market interest rates for long-term development projects such as dams or road systems. It was set up in December 1945.

Notes on the Text:

The United Nations Organization (UN) - Организация Объединенных Нации (ООН).

The International Monetary Fund (IMF) – Международный валютный фонд (МВФ).

The World Bank – Международный банк реконструкции и развития.

The World Trade Organization (WTO) – Всемирная торговая организация (ВТО).

Vocabulary notes:

1. give rise to (something) вызывать (дискуссию и т.д.)

2. ensure v обеспечить, гарантировать

3. international security международная безопасность

4. existing arrangements зд. существующий порядок

5. marketing n маркетинг

6. tax exemptions налоговые освобождения

7. set rules устанавливать правила

8. serve as a lender выступать в качестве кредитора

9. channel capital направлять средства

10. at interests rates по банковским ставкам

11. long-term development project долгосрочный проект экономического

развития

Ex. 16. Answer the questions:

1. What has become evident in recent years?

2. What are governments determined to do?

3. What do they work together for?

4. What instruments help governments to ensure political and economic stability?

5. What was the IMF set up for?

6. What services does the World Bank provide?

Ex. 17. Render the article.