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{{wip}}
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{{Infobox organization
{{Infobox organization
| name          =Global Institute of Fiscal Affairs
| name          = Global Institute of Fiscal Affairs
| image        = logo
| image        = logo
| caption      = Official logo of GIFA
| caption      = Official logo of GIFA
| map          = GIFA Map.png
| map          =  
| mcaption      =  
| mcaption      =  
----
| type          = International financial institution
| type          = International financial institution
| purpose      = Promote international monetary cooperation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties
| purpose      = Promote international monetary cooperation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties
| headquarters  = [[Jindao#Administrative Divisions|Shilou]], [[Jindao]]
| headquarters  = [[Keisi]], [[Senria]]
| coords        =  
| coords        =  
| region_served = Worldwide
| region_served =  
| membership    = xxx member states
| membership    =  
| language      = {{wp|English language|Estmerish}}<br>{{wp|French language|Gaullican}}
| language      = {{wp|French language|Gaullican}}
| leader_title  = Chief Director
| leader_title  = Chief Director
| leader_name  = {{flagicon|Estmere}} [[Marcus Clyde]]
| leader_name  = {{flagicon|Paretia}} [[Raul Fonseca]]
| main_organ    = Board of Directors
| main_organ    = Board of Directors
| formation    = {{start date and age|1995|01|01|df=y}}
| formation    = {{start date and age|1985|03|20|df=y}}
| budget        =  
| budget        =  
| num_staff    = 2,600
| num_staff    = 2,600
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}}


The '''Global Institute for Fiscal Affairs''' ('''GIFA''') is an {{wp|intergovernmental organisation}} linked to the [[Community of Nations]] which exists to promote economic growth and stability through advising its members states and providing financial assistance, a task it also undertakes to developing countries. The largest public lender of funds in the world, the GIFA responsible for the creation and maintenance of the international monetary system, the system by which international payments among countries take place. The GIFA also advises on national macroeconomic policies, in particular focusing on financial regulatory policies, employment and labour market relations, exchange rates, national budgets, credit management and balance of payments. As a fund the GIFA often provides financial assistance to nations suffering from balance of payments issues through the use of {{wp|Structural adjustment|Economic Restructuring Policies}}.
The '''Global Institute for Fiscal Affairs''' ('''GIFA''') is an {{wp|intergovernmental organisation}} within the [[International Council for Democracy]] which exists to promote economic growth and stability by providing its member states and partners in the developing world with financial assistance and advice. The largest institutional lender in the world, GIFA is responsible for the maintenance of the international funds system that facilitates payments between countries. The GIFA also advises on national macroeconomic policies, in particular focusing on financial regulation, employment and labor relations, exchange rates, national budgets, credit management and balance of payments. As a fund, GIFA often provides financial assistance to nations suffering from balance of payments issues through the use of {{wp|Structural adjustment|Economic Restructuring Policies}}.
==History==
 
The GIFA was created in response to the 1980 economic crisis to provide nations with easy access to credit to better manage their fiscal response. It merged the Euclean Investment Bank, the Asterian Monetary Fund, and the Coian Infrastructure Bank, which had been set up for similar purposes: to provide funds for the reconstruction of national economies following the [[Great War (Kylaris)|Great War]].
 
==Functions==
==Functions==
The Global Institute for Fiscal Affairs outlines its functions its in founding charter, stating it supports the promotion of international monetary cooperation, the facilitation of international trade, the fostering of sustainable economic growth, making resources available to members experiencing balance of payments difficulties and supporting the economic development of developing states. GIFA states that whilst its ultimately promotes private enterprise the under-development and restrictions on many countries means that it has developed means to provide alternate means of funding to aid member states.  
GIFA's functions are outlined in its charter, which states that it supports international monetary cooperation, the facilitation of international trade, the fostering of sustainable economic growth, making resources available to members experiencing balance of payments difficulties, and supporting developing states. GIFA states that while it ultimately promotes private enterprise, the under-development of many countries means that it has a legitimate duty to provide alternate means of funding to aid member states.
 
GIFA is perhaps best known for its {{wp|Structural adjustment|Economic Restructuring Policies}} (ERPs). ERPs are loan and bailout agreements that require countries to adopt certain policies, including the {{Wp|privatisation}} of state-owned enterprise, {{wp|devaluation}} of currencies, removal of price controls, {{Wp|trade liberalisation}}, {{Wp|deregulation}} of industry, stabilising conditions to encourage {{Wp|foreign direct investment}} and {{Wp|austerity|fiscal retrenchment policies}}.


GIFA is most known for its {{wp|Structural adjustment|Economic Restructuring Policies}} (ERP's). ERP's are loan and bailout agreements that require countries to adopt certain policies to be eligible for loans, including the {{Wp|privatisation}} of state owned enterprise, {{wp|devaluation}} of currencies, removal of price controls, {{Wp|trade liberalisation}}, {{Wp|deregulation}} of industry, stabilising conditions to encourage {{Wp|foreign direct investment}} and {{Wp|austerity|fiscal retrenchment policies}}.
==Organization==
==Organisation==
GIFA has two main organs: the Board of Directors and the Board of Executives. The Board of Directors is the executive organ of GIFA. Made up of 18 voting members and 7 non-voting members, the Board of Directors is appointed by the Chief Director, who is elected by the Board of Executives for a five-year renewable term. The Chief Director serves as the chief of staff of the entire organization and represents GIFA on the international stage. The Board of Directors makes most executive decisions with approval from the Board of Executives.
[[File:Mark Carney.jpg|thumb|200px|Current Chief Director [[Marcus Clyde]], incumbent since 2012]]GIFA is based around two main organs - the Board of Directors and Board of Executives. The Board of Executives is made up of representatives of each member states of GIFA with the number of representatives based on the financial commitment of member states and approves of the membership of candidate states, approves of bailouts and loans and has the power to amend or change the organisational structure of GIFA. The Board of Executives meets twice a year usually to discuss and approve of decisions made by the Board of Directors.  


The Board of Directors is the main executive organ of GIFA. Made up of 18 voting members and 7 non-voting members, the Board of Directors is appointed by Chief Director who is elected by the Board of Executives for five year renewable terms. The Chief Director officially serves as the head of staff of the entire organisation representing GIFA on the international stage. The Board of Directors makes most executive decisions within GIFA with approval from the Board of Executives.
The Board of Executives is made up of representatives of each member state, with the number of representatives based on the financial commitment by each member state, and approves the membership of candidate states, authorizes bailouts and loans, and has the power to amend GIFA's organisational structure. The Board of Executives meets twice a year, usually to discuss and approve of decisions made by the Board of Directors.


==Member states==
==Member states==
===Contributions===
===Contributions===
==Criticism==
==Criticism==
{{Kylaris}}
[[Category:Economy (Kylaris)]]
[[Category:International organisations (Kylaris)]]
[[Category:International organisations (Kylaris)]]
{{Kylaris}}

Latest revision as of 05:15, 22 September 2021

Global Institute of Fiscal Affairs
File:Logo
Official logo of GIFA
Formation20 March 1985; 39 years ago (1985-03-20)
TypeInternational financial institution
PurposePromote international monetary cooperation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties
HeadquartersKeisi, Senria
Official language
Gaullican
Chief Director
Paretia Raul Fonseca
Main organ
Board of Directors
Staff
2,600
Websitewww.gifa.org

The Global Institute for Fiscal Affairs (GIFA) is an intergovernmental organisation within the International Council for Democracy which exists to promote economic growth and stability by providing its member states and partners in the developing world with financial assistance and advice. The largest institutional lender in the world, GIFA is responsible for the maintenance of the international funds system that facilitates payments between countries. The GIFA also advises on national macroeconomic policies, in particular focusing on financial regulation, employment and labor relations, exchange rates, national budgets, credit management and balance of payments. As a fund, GIFA often provides financial assistance to nations suffering from balance of payments issues through the use of Economic Restructuring Policies.

The GIFA was created in response to the 1980 economic crisis to provide nations with easy access to credit to better manage their fiscal response. It merged the Euclean Investment Bank, the Asterian Monetary Fund, and the Coian Infrastructure Bank, which had been set up for similar purposes: to provide funds for the reconstruction of national economies following the Great War.

Functions

GIFA's functions are outlined in its charter, which states that it supports international monetary cooperation, the facilitation of international trade, the fostering of sustainable economic growth, making resources available to members experiencing balance of payments difficulties, and supporting developing states. GIFA states that while it ultimately promotes private enterprise, the under-development of many countries means that it has a legitimate duty to provide alternate means of funding to aid member states.

GIFA is perhaps best known for its Economic Restructuring Policies (ERPs). ERPs are loan and bailout agreements that require countries to adopt certain policies, including the privatisation of state-owned enterprise, devaluation of currencies, removal of price controls, trade liberalisation, deregulation of industry, stabilising conditions to encourage foreign direct investment and fiscal retrenchment policies.

Organization

GIFA has two main organs: the Board of Directors and the Board of Executives. The Board of Directors is the executive organ of GIFA. Made up of 18 voting members and 7 non-voting members, the Board of Directors is appointed by the Chief Director, who is elected by the Board of Executives for a five-year renewable term. The Chief Director serves as the chief of staff of the entire organization and represents GIFA on the international stage. The Board of Directors makes most executive decisions with approval from the Board of Executives.

The Board of Executives is made up of representatives of each member state, with the number of representatives based on the financial commitment by each member state, and approves the membership of candidate states, authorizes bailouts and loans, and has the power to amend GIFA's organisational structure. The Board of Executives meets twice a year, usually to discuss and approve of decisions made by the Board of Directors.

Member states

Contributions

Criticism

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