Write down the difference between World Bank and IMF.
Answer:
World Bank and International Monetary Fund(IMF) are called Bretton Wood Twins . These two international organizations are concerned about the economic issues of the globe and focus on strengthening the economic policies of the nations.
But there are some basic differences between these two institutions.
|
BASIS |
IMF |
WORLD BANK |
|
Meaning |
International Monetary Fund (IMF) is an organization helps to stabilize the global monetary system and functions as a watchdog over the world's currencies. |
World Bank international organization established to finance and work with developing nations , in order to make them an economically developed nations. |
|
Objective |
To address all macroeconomic and financial sector -related challenges. |
To encourage the long-term growth of the economy and reduce poverty. |
|
Organizational Structure |
The IMF is governed by two ministerial committees, the International Monetary and Financial Committee (IMFC) and the Development Committee |
It has two important institutions : the I nternational Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). |
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