Question

Describe the role and functions of the IMF and
World Bank.

04 Jun 2018
Answer :
Word Count : 561

The International Monetary Fund (IMF) and the World Bank are two key institutions in the realm of international finance, playing pivotal roles in shaping global economic policies and addressing financial challenges. Their establishment stems from the post-World War II era, with the primary objective of fostering international monetary cooperation and facilitating economic development. Both institutions, while distinct in their functions, collaborate to promote global economic stability and growth.

International Monetary Fund (IMF):

The IMF was created in 1944 during the Bretton Woods Conference to address the economic upheavals of the time and prevent a recurrence of the Great Depression. Its fundamental purposes include promoting international monetary cooperation, ensuring exchange rate stability, facilitating the expansion and balanced growth of international trade, and providing resources to member countries facing balance of payments problems.

1. Surveillance: One of

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