新商务英语理论与实务 教学课件 蒋景东situation 7 Task 3.pptVIP

Situation 7 Financing Task 3 IMF Task 3 IMF ? Objectives 1. Learn the history of IMF. 2. Grasp the purposes and functions of IMF. Task 3 IMF I Pre-reading Pair work: Discuss the following questions with your partner. 1. What do you know about the International Monetary Fund? 2. What does IMF do ? 3. How does the IMF work to accomplish its purposes? 4. Why does international financial system meet challenge? 5. Do you know how the financial organizations help the countries? Task 3 IMF II Case study of the task History Repeat Itself? The financial crisis which started in Thailand and erupted in Asia in mid-1997 led to sharp declines in the currencies, stock markets, and other asset prices of a number of Asian countries; threatened these countries financial systems; and disrupted their real economies, with large contractions in activity that created a human crisis alongside the financial one. In addition to its severe effects in Asia, the crisis has put pressure on emerging markets outside the region; contributed to virulent contagion and volatility in international financial markets; and is expected to halve the rate of world growth in both 1998 and 1999, from the rates of some 4 percent that were projected pre-crisis for both years, to an estimated outcome of about 2 percent. Task 3 IMF In pursuit of its immediate goal of restoring confidence in the region, the IMF responded quickly by: helping the three countries most affected by the crisis-Indonesia, Korea, and Thailand-arrange programs of economic stabilization and reform that could restore confidence and be supported by the IMF; approving in 1997 some SDR 26 billion or about US$35 billion of IMF financial support for reform programs in Indonesia, Korea, and Thailand, and spearheading the mobilization of some US$77 billion of additional financing from multilateral and bilateral sources in support of these reform programs. In July 1998, committed assistance for Indonesia