economic crisis

  • The International Monetary Fund’s Role in Overcoming Economic Crisis in PIIGS

    Author: Kinga Jasiak
    Institution: Adam Mickiewicz University in Poznań
    Year of publication: 2019
    Source: Show
    Pages: 476-486
    DOI Address: https://doi.org/10.15804/ppsy2019306
    PDF: ppsy/48-3/ppsy2019306.pdf

    The financial crisis started in 2008 and touched the whole world but some countries experienced its consequences more than others. The European Union and in particular eurozone, slid into a stage of economic recession. Five of 28 EU countries faced the edge of financial fall, named PIIGS-Portugal, Italy, Ireland, Greece and Spain. Multidimensionality of the global crisis have caused that international economic organizations faced a great challenge, For them it was a test of efficiency and effectiveness. The leading role in this period belonged to the International Monetary Fund (IMF), which is standing on the guard of the whole international currency system. The aim of the article is to draw and analyze the most important IMF activities towards PIIGS, especially what instruments were proposed as a help and what changes had to be made by receiving states in order to receive the financial support. The ten-year perspective taken in the article allows for the more comprehensive assessment of the issue.

  • Political and Social Problems in Venezuela in the Second Decade of the 21st Century

    Author: Justyna Łapaj-Kucharska
    Institution: University of Silesia in Katowice
    Year of publication: 2020
    Source: Show
    Pages: 51-71
    DOI Address: https://doi.org/10.15804/athena.2020.67.04
    PDF: apsp/67/apsp6704.pdf

    Venezuela, which is the country with the largest documented oil reserves in the world, has been plunged into a political, economic and social crisis for several years, struggling with recession and multi-digit inflation. In the second half of the second decade of the 21st century, the country’s economic and political situation deteriorated. Over a million Venezuelans have already migrated from their country, where there is a lack of basic everyday products, including food, medicines and hygiene products. In relation to this state, part of a discussion is not only the political or economic crisis, but also the humanitarian one. Venezuela’s internal problems also affect security throughout the Latin American region. International institutions and regional organizations are trying to undertake activities aimed at ending the dictatorial rule of President Nicolás Maduro and restoring the country’s democracy and the rule of law.

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