Hey everyone!
Lately in geo class we have been talking about the economy (I mentioned this in my previous post). The IMF stands the International Monetary Fund, and what it does is it gives out loans to countries in debt. However, there is always a catch--the IMF will only issue a loan is certain conditions are met. Which means that the IMF has quite a large influence on the fate of the economy of a country with a lot of debt. It is also overseen by the World Trade Organization (WTO). However, the WTO is "corrupt;" countries with a larger economy have higher voting power, meaning they call the shots. Countries in debt have no choice but to follow the conditions set by stronger nations.
Tomorrow we will be having a debate/summit about whether or not Haiti should get the loan they they desperately need from the IMF. Chistenne, Lily and me are representing the Haitian government officials. I'll update you on our consensus if I can!
Thanks for reading!
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