World Bank and Imf

IMF (International Monetary Fund) is an international organization that was started in 1945 at the Bretton Woods conference, which 29 countries were the founding members. IMF was created after World War 2 because many countries were in finanical debts and needed help to rebuild their economies. One of its goal is to provide a forum for cooperation on the international finance problems. It facilitates international trade by stimulating employment, economic growth, and reducing poverty. Furthermore, it promotes exchange rate stability and an open system of international payments. It lends countries foreign exhange, when necessary, to help them stabilize their economic problems. Overall, the main goal of IMF is to provide a global public good of financial stability. The IMF overlooks the international monetary system to ensure stability and encourage members to avoid tariffs, which hinders trade. They are still relevant because they play a crucial role when countries are falling into debt or they are experencing an economic crisis. This organization helps these countries come back onto their feet, economically. For example, just recently, the IMF just released a report about the status of the global economy, which was quite disappointing. The IMF warned the global community that the economic predictions are not so great that there might even be an economic crisis in the following years. We can see that IMF plays a crucial role in our economy through guiding our global economy in the right ways.

    2. World Bank is an United Nations international financial instiution that provides loans to developing countries for capital programs. It was established in 1944, after World War 2. Orginally, it was the International Bank for Reconstruction and Development as a facilitator of the post-war reconstruction and development. However, they were able to develop this even more, which helped them focus on the poverty reduction. Currently, their two main goals are to end...