Explain the roles of the International Monetary Fund and the World Bank.

      

Explain the roles of the International Monetary Fund and the World Bank.

  

Answers


marlyne
The World Bank was founded in 1944 and has its headquarters in Washington DC. It is not a bank in the common sense of the word. It consists of two development institutions, owned by 187 member
countries. These are:
• the International Bank for Reconstruction and Development (IBRD) which aims to reduce poverty in middle income and credit worthy poorer countries
• the International Development Agency (IDA) which provides assistance to the world’s poorest nations.
Both institutions provide low-interest loans, interest-free credits and grants for a variety of purposes.
marlinbito answered the question on July 6, 2018 at 09:30


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