Poverty and Trade : Glossary

There are 60 documents in this section.

  • Subsidy

    23 May 2002

    A financial benefit or form of assistance given to producers (e.g., grants, loans, tax allowances)which enables them to sell or export goods at less than their costs of production, thus creating unfair competition.

  • World Commission on Environment and Development

    23 May 2002

    Established by the United Nations General Assembly in 1983 to examine international and global environmental problems and to propose strategies for sustainable development. Chaired by Norwegian Prime Minister Gro Harlem Brundtland, the independent commission held meetings and public hearing around the world and submitted a report on its inquiry to the General Assembly in 1987.

  • Trade liberalisation

    23 May 2002

    Changing trade policies and practices so that the market can operate more 'freely'. It may involve reductions in, or the removal of, tariffs, quotas, subsidies, and other regulations.

  • Food security

    23 May 2002

    Access to sufficient nutritious food at all times.

  • Free trade

    23 May 2002

    The movement of goods, capital, services, or people across borders, free from government interventions such as tariffs and quota restrictions.

  • World Food Summit (WFS)

    23 May 2002

    World Food Summit, held in 1996, at which governments pledged to halve the number of hungry poeple by 2015.

  • Food deficit

    23 May 2002

    A shortage of foodstuffs in relation to the recommended food needed.

  • Food surplus

    23 May 2002

    A surplus of foodstuffs in relation to the recommended food needed.

  • GM foods

    23 May 2002

    Foodstuffs that have had their genes changed (genetically modified - GM) in order to improve their productivity.

  • Structural adjustment policies

    23 May 2002

    Structural Adjustment Policies are economic policies which countries must follow in order to qualify for new World Bank and International Monetary Fund (IMF) loans and help them make debt repayments on the older debts owed to commercial banks, governments and the World Bank. SAPs are designed for individual countries but have common guiding principles and features which include export-led growth; privatisation and liberalisation; and the efficiency of the free market. SAPs generally require countries to devalue their currencies against the dollar; lift import and export restrictions; balance their budgets and not overspend; and remove price controls and state subsidies. Often SAPs result in cuts in public sector spending in areas such as education, health and social care.