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IMF vs World Bank: Roles & Functions

The IMF works to stabilize currencies and monitor the global economy and member countries' economies. It lends to countries with balance of payments issues. The World Bank consists of 5 institutions that work with developing countries, provide financing, policy advice and technical assistance. It focuses on reducing poverty and increasing prosperity through strengthening developing countries' governments and private sectors. While the IMF ensures monetary stability, the World Bank is committed to reducing poverty and promoting sustainable development.

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Amanda Buttkiss
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65 views1 page

IMF vs World Bank: Roles & Functions

The IMF works to stabilize currencies and monitor the global economy and member countries' economies. It lends to countries with balance of payments issues. The World Bank consists of 5 institutions that work with developing countries, provide financing, policy advice and technical assistance. It focuses on reducing poverty and increasing prosperity through strengthening developing countries' governments and private sectors. While the IMF ensures monetary stability, the World Bank is committed to reducing poverty and promoting sustainable development.

Uploaded by

Amanda Buttkiss
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

IMF vs World Bank

IMF World Bank


serves to stabilize the international monetary works with developing countries to reduce
system and acts as a monitor of the world’s poverty and increase shared prosperity
currencies
keeps track of the economy globally and in provides financing, policy advice, and technical
member countries, lends to countries with assistance to governments, and also focuses on
balance of payments difficulties, and gives strengthening the private sector in developing
practical help to members countries
Countries must first join the IMF to be eligible to Its five institutions share a commitment to
join the World Bank Group; today, each reducing poverty, increasing shared prosperity,
institution has 189 member countries. and promoting sustainable development.

5 institutions forming the World Bank:

1. International Development Association


(IDA) - focuses on the world’s poorest
countries
2. International Bank for Reconstruction
and Development (IBRD) - assists
middle-income and creditworthy poorer
countries.
3. International Finance Corporation (IFC),
Multilateral Investment Guarantee
Agency (MIGA) , and International Centre
for Settlement of Investment Disputes
(ICSID) - focus on strengthening the
private sector in developing countries.
IMF's primary purpose is to ensure the stability Committed to reducing poverty, increasing
of the international monetary system—the shared prosperity, and promoting sustainable
system of exchange rates and international development.
payments that enables countries and their
citizens to transact with each other. It does so by
keeping track of the global economy and the
economies of member countries, lending to
countries with balance of payments difficulties,
and giving practical help to members.

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